Rare one-shilling silver coin, which was struck in 1652, has been auctioned on the internet for Rs 2.6 crore (USD 350000). The coin was discovered in a candy canister. It is worth noting that this coin of silver is among the earliest coins produced by the British in Colonial New England.
On one aspect of this coin, you will see in the first initials NE to denote New England and Roman numeral XII on the reverse.
The London-based Morton & Eden Ltd said in an announcement that the coin was auctioned off for the sum of 2.6 crore to an online auctioneer from the US.
“I am not surprised by the amount of attention this extraordinary coin drew. The amount that was paid for it that was higher than the estimate and reflects its remarkable historical significance as well as its outstanding condition of preservation.” said expert in coin collecting James Morton said in a statement.
It should be noted that before 1652, the coins from England and the Netherlands as well as those from the Spanish Empire would have been considered to be legitimate currency within New England.
It is believed that there existed a dearth of coins and that’s the reason John Hull was appointed by the Massachusetts General Court as Boston mintmaster. It is believed that Hull was responsible for overseeing the manufacturing of the first North American silver coins.
According to the auctioneer, the mint that made that coin, in 1652 closed in 1682.