A historic Islamic coin, called Umayyad coin, made from gold gotten from north-west of Mecca in Saudi Arabia and believed to be 1,200 years old has sold for £3.7 million (N1,716,404,349.75).
According to Daily Mail, the coin is inscribed with the words “Mine of the Commander of the Faithful”. It was also said that just about 12 of the rare coin exist in the world with private collectors or major museums.
The price of the coin jacked up to £3.7 million after it was at pre-sale estimated at £1.6 million. Photo source: CngCoins Source: UGC The coin went as far back as 723 AD, and the gold it was made from was gotten from a site that was reported to be owned by the Caliph, a successor to Prophet Mohammed (SAW), in a place which is now known as Mecca.
Daily Mail also reports that the coin became the most valuable and sought-after on Wednesday, October 23, when it was sold at the whopping price. It was auctioned at the Morton & Eden where it had a pre-sale value of £1.6 million but had to jack up due to more than thrice the initial price because of the interest it later attracted.
The purchase was made amidst very tight bidding competition as the Sheikh had to be at the Tattersalls October Yearling Sale in Newmarket, England, on Tuesday, October 15, to get the racing superstar. In commenting about the purchase, Anthony Stroud, the Sheikh’s representative said the horse is very athletic, saying it was picked as it was very favourited.