Edward VIII Gold Sovereign Sets Record
A historic record was created by the auction of the vintage Edward VIII 1937 Gold Sovereign that sold at $874,700 by an anonymous buyer. It set the record price for a British coin that was struck inside the United Kingdom. The coin was estimated to sell roughly at $413,309 to $495,971, which puts the auction price at a rare position, as many other pieces have not sold at a similar price range.
This gold vintage sovereign is a part of the Hemisphere collection was the first complete monarchical collection set displayed at any kind of auction. A main reason for the high pricing of this coin piece was that it was the only available specimen to collectors worldwide. The Hemisphere Collection spans 525 years and 15 monarchs and represents seven mints. It totaled 394 individual sovereign coins, from the earliest hammered examples to modern milled pieces.
Also, due to Edward VIII’s abdication, the coin’s circulation was expressly forbidden by the departing monarch’s successor, King George V, and has never been used for any kind of currency since then.
After the death of his father, George V, Edward VIII ascended to take his place in 1936. However, Edward VIII famously abdicated his position just 326 days after his accession, so he could marry the divorced Wallis Simpson. This act made him the first monarch to step down from the throne voluntarily.