HomeCURRENT AFFAIRSBUSINESSOld coins Scheme : This rare coin sells for Rs. 2.6 crore...

Old coins Scheme : This rare coin sells for Rs. 2.6 crore at an online auction

Old coins Scheme : A rare one-shilling silver coin from 1652 that was recently sold at an online auction for Rs. 2.6 crore (USD 350000). In a container holding chocolates, the coin was found. One of the first silver coins made in Colonial New England, this piece is noteworthy for its early production.

On one side of the coin appear the initials NE for New England, and on the other is the Roman numeral XII.

According to Morton & Eden Ltd. of London, the coin was sold for Rs. 2.6 crore to an unnamed internet bidder from the United States.

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“I am not surprised by the high level of interest in this outstanding coin. In a statement, coin analyst James Morton said, “The sum paid, which was above estimation, underlines its tremendous historic significance and outstanding original condition of preservation.”

Prior to 1652, coinage from the United Kingdom, the Netherlands, and the Spanish Empire were accepted as legal tender in New England.

According to legend, there was a coin scarcity, which is why the Massachusetts General Court selected John Hull as Boston mint master. Hull is supposed to have been in charge of overseeing the creation of the first silver coins in North America.

The mint that created the coin in 1652 was closed in 1682, according to the auctioneer.

According to the auctioneer, the mint that produced the coin in 1652 was shut down in 1682.

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