Anglo-Saxon gold penny could sell for £150,000

A man walking his dog has discovered an Anglo-Saxon gold penny worth up to £150,000. The coin was struck during the reign of King Coenwulf between 796 and 821, on the banks of the river Ivel in Bedfordshire.

A man walking his dog has discovered an Anglo-Saxon gold penny worth up to £150,000. The coin was struck during the reign of King Coenwulf between 796 and 821, on the banks of the river Ivel in Bedfordshire.

The find is likely to provoke keen bidding when it is auctioned in London next month. Though many similar examples survive from the period, the heyday of the Anglo-Saxon kingdom of Mercia, the Ivel coin is the first gold penny found with Coenwulf's portrait.

The dog-walker, and the landowner on whose property the coin was found, are being kept secret. Richard Bishop, a coin specialist at Spink, the London auction house, said: "Even if it were silver, the penny would be very exciting due to its good condition and the quality of the portrait. In gold, it's just unbelievable."

The record price tag for a British gold penny is £149,500 in 1996, for a coin from the reign of Henry III.