A metal-detecting enthusiast from Killimister has come across a treasure trove of ancient coins in Caithness, Scotland.

The coins, dating from 1279, are due to go to auction where they are expected to be bought for a museum.

“I only took up metal detecting over a year ago, but have become very interested in it and have scanned several sites across Caithness,” Mikie Aitken said.

“I only found these coins by accident, as I wasn’t particularly looking for anything, it was a million-to-one chance that anybody could find something as valuable as these coins.

“When I returned home, I immediately discussed what I had found with members of a metal detecting forum whom I speak with on a regular basis.

“They thought that my discovery was unbelievable and ranked it as one of the most special find of coins to have been discovered in Caithness.”

In total, Mikie has found 27 coins at the site, in near perfect condition. They feature the heads of Edward I and Alexander III of Scotland.

The site is due to be investigated for possible further discoveries.

On Jan 31, a group of senators introduced a bill designed to save $50 billion per annum by using surplus coins instead of Presidential notes.

It is estimated that the Federal Reserve Bank is sitting on 1.4 billion $1 coins and that this would have grown 50% by 2016.

This is part of the Administrator’s Campaign to Cut Waste.

The Royal Mint regularly issues collections of proof coins for collection and, it is inferred, potential investment.

However, recent claims by top dealer Richard Lobel of Coincraft say that the cost price of these collections is so high that the buyer has a nearly zero chance of the coins ever reaching the value the paid for them, let alone realizing a profit on them.

He cites an example of a £5 silver proof coin being sold for £99.50 – and having a best trade price of just £20. He goes on to claim that the Royal Mail is “either incompetent in setting prices or cynically exploiting non-expert buyers who think they are getting something special.”

If you are going to invest in coins, invest in coins that have already accumulated great value through their history and, preferably, have valuable metal content too!

Further reading.

When a local woman took a few old coins she had in her household to a touring collector’s show, she did not know that she had a very rare penny amongst her collection!

The 1787 Fugio Penny was said to have been designed by Benjamin Franklin and features the words “Mind Your Business” on one side and “We Are One” on the other side – reflecting the attitude of a newly independent America.

Just shows how much certain old coins can appreciate in value, 1 penny to $24,000!

Full article here.

Uncleaned, this half-crown is from the last year of James II’s reign.

Much wear to both sides and edge (click photo for larger image) but major detail and lettering intact.

We grade this coin as F
£150

Victoria 1845 Crown

Queen Victoria “Bun Head” Silver Crown with Cinquefoil stops.
Edge reads: “DECUS ET TUTAMEN * ANNO REGNI VIII *”
Fantastic lustre, few, very minor scratches, slight mark below 1845 (see photo).

Reverse close to Uncirculated condition.

We grade this beautiful coin as EF.
£870

Another article documenting the rise in popularity of old coins as an alternative investment.

Coins have an edge on nearly all other asset classes as they generally become more valuable with age and scarcity – both of which increase with time. In other words, unlike shares and bonds, their downside is almost non-existent!

Add to this other factors such as the precious metal content in many of them and they become a very attractive investment vehicle.

Read more here: Young Indians Buy Old Coins as Investment

Anne 1710 Silver Twopenny

This tiny (13.44mm diameter) silver twopence comes to you in stunning condition, with clear detail on both sides.

Slight scratch from “G” to “T” of GRATIA (see photo).

This beautiful coin would look great in any collection.

Take this opportunity to get a high grade example.

We grade this coin as EF.
£75

A firm favourite today, the iconic ‘Cartwheel’ George III twopence – so called because of its large size (41mm diameter!) and weight.

Well preserved example.

£77

Today’s selection is a double florin, a coin minted for four years of Victoria’s reign with a value of 4 shillings.

Treat yourself to this beautiful example of the issue, graded EF.

 

£70