Ancient Islamic Coin sells for E3.7m

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    By Daniel Hammond

    An ancient coin sold yesterday for a record E3.72million.

    The Islamic dinar coin, dating back to 723AD, went for nearly twice its pre-auction estimate.

    One of just 12 still in existence, it attracted bids from around the world, with the hammer falling at E3.1million.

    With fees, the anonymous buyer will pay  E3.72million, which is a coin sold at auction.

    Stephen Lloyd, an Islamic coins specialist at London auctioneer Morton & Eden, said: “the remarkable price reflects and historical significance of this fabulous coin”.

    The Umayyad coin was made of gold from a mine owned by the Caliph, one of the successors to the prophet Muhammad.

    It is about the size of a E1 coin and inscribed “mine of the commander of the faithful”.

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