People offered chance to buy a stake in rare King Edward VIII penny
Ownership of the coin will be ‘split’ into 4,000 shares, each costing £50.
A rare coin marking King Edward VIII’s brief reign is to enter fractional ownership – meaning people can buy a stake in it for £50.
Collectables platform Showpiece.com has acquired the penny, which has been valued at £200,000.
Weighing 9.36g and measuring 3.08cm, ownership of the coin will be “split” into 4,000 shares, each costing £50, from March 8. Buyers will receive an ownership certificate and be limited to a 10% stake.
Those with a share in the coin will have a vote on potential future bids for it.
It said the policy will be updated regularly to reflect changes in the coin’s value.
Dan Carter, co-founder of Showpiece.com said the coin is surrounded by an “irresistible story which will captivate historians and the public alike”.
He added: “We are expecting significant interest.”
Fractional ownership gives people an opportunity to have a small stake in a rare or desirable item, such as an artefact or artwork, in a way that is relatively affordable.
In general, people need to be aware that the value of items can go down as well as up.
Experts have suggested the coin’s allure stems from it not having entered public circulation.
The King Edward Penny was due to be issued widely from 1937.
The abdicated Edward VIII became the Duke of Windsor and finally married American divorcee Wallis Simpson while in exile in France in 1937.
In 1978, the penny fetched £25,000, before being sold again in 2019 for £133,000. The most recent appraisal was for £200,000.
Edward was said to have broken with the tradition of the monarch’s heads facing in opposite directions, because he preferred his left profile.
Some Edward VIII memorabilia items have recently sold for significant sums.
In January 2020, another coin, an Edward VIII gold sovereign, was snapped up for £1 million.
That coin was bought by a private buyer in the UK, having been located by the Royal Mint from a collector. It was one of a small collection of trial sets.
In October 2021, a letter from Edward VIII hinting at his disenchantment with life as a royal as a young man was sold at auction for £7,117.
