A metal detectorist who found England's 'first ever gold coin' has sold it for a world record of £648,000.
The treasure hunter, who wishes to remain anonymous, unearthed the coin on his first metal detecting outing in 10 years on farmland in Hemyock, Devon, last September.
The King Henry III penny, struck in about 1257 by William of Gloucester with gold imported from North Africa, measures just under an inch in diameter.
There are just eight of the coins in existence - with most of them in museums - and this one is thought to be the first to be found in 260 years.
The discoverer was completely unaware of the coin's incredible rarity until he posted a picture of it on Facebook and it was spotted by a specialist at Spink auctioneers, London.
The treasure hunter, who wishes to remain anonymous, unearthed the coin on his first metal detecting outing in 10 years on farmland in Hemyock, Devon, last September
The coin was found in a field in Hemyock, Devon, a medieval settlement famed for its castle (pictured)
The Henry III penny has been said by numismatists (coin specialists) to show the first 'true' portrait of an English King upon his throne since the time of William the Conqueror.
There are just eight of the coins known to exist, with almost all of them in museums.
It achieved a hammer price of £540,000, with extra fees taking the final figure paid by a private British buyer in the room to £648,000.
The finder will split the proceeds 50/50 with the landowner. It is believed that he will spend his fortune towards his children's future.
The winning bidder intends to loan the coin to a museum or institution.
It is a world record for a Henry III coin, and also the most valuable Medieval English coin ever sold at auction.
The King Henry III penny, struck in about 1257 by William of Gloucester with gold imported from North Africa, measures just under an inch in diameter
Gregory Edmund, specialist at Spink & Son, said: 'Not only does this now stand as the most valuable single coin find in British history, but also the most valuable Medieval English coin ever sold at auction.
'Unsurprisingly therefore it eclipsed our old house record to fall for an incredible £540,000 (£648,000 including costs) to a private room buyer.
'It was bought by an anonymous private buyer resident in the United Kingdom who intends to place the coin on loan to a public institution or museum.
'The vendor and landowner were both in awe of the result.'
The coin, which is 21mm in diameter, displays the portrait of the bearded and crowned Henry III upon his thrown on the Great Pavement in Westminster Abbey.
There are just eight of the coins in existence - with most of them in museums - and this one is thought to be the first to be found in 260 years
There is a long cross, roses and pellets on the reverse.
Some 52,000 of the coins were minted at twice the weight of a silver penny and valued at 20 pence, which equates to £60 in today's money.
But it became apparent that they were financially unviable because the value of the coin was worth less than its weight in gold.
The gilt-bronze tomb effigy of King Henry III in Westminster Abbey
King Henry III (1207-1272) was the son of King John and reigned as king of England from 1216 to 1272 - one of the longest reigns in English history.
As a child king, power was in the hands of 13 nobles appointed by his father - but this soon erupted into the Barons' War which ended in 1217.
King Henry was known for his religious piety and lavish spending, including a rebuild of Westminster Palace and a huge overhaul of Windsor Castle.
The king faced further barons' revolts as a result of his expensive foreign policy and failed wars. Simon de Montfort led the Second Barons' War and seized power in 1264, but he was later defeated by the king's son and heir Prince Edward the following year and executed.
Happily married to Eleanor of Provence with whom he had five children, King Henry III was succeeded by his son Edward I 'The Longshanks' in 1272.
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As a result virtually all of them were melted down after they fell out of circulation following Henry III's death.
The other surviving examples are in the British Museum in London, the Fitzwilliam Museum in Cambridge, and private collections.
The finder, who works as an ecologist, said ahead of the sale: 'The coin was found in an unappealing field and could quite easily have never been recovered. Now it is protected for future generations to enjoy and it is truly humbling that I was its finder.
'My wish that day came true and I just happened to be the fortunate one. I feel I have to apologise to all those other detectorists who search and dream.'
Henry III was king of England from 1216 until his death in 1272.
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