Elizabeth II commemorative coin could fetch £125,000 at auction

The gold coin, pictured with a £1 coin for scale, is expected to be sold for a six-figure sum at auction

A £1,000 gold coin made to honour Elizabeth II could fetch more than 100 times its official value at auction, a valuer said.

The commemorative piece, weighing 2.2lb (1kg) and made of 24 carat gold, was one of 15 made by the Royal Mint.

Auctioneers said the item, offered by a York collector, was "worth more than its weight in gold" and has an estimate of between £100,000-£125,000.

The Longest Reigning Monarch coin is set to be auctioned later

Hansons Auctioneers said the coin, which has an official denomination of £1,000, was bought in 2015 "on a bit of a whim" for about £75,000.

William Hayward, a coin valuer for the auctioneers, said: "It's so scarce examples of this particular coin virtually never come to market.

"For a keen coin collector with deep pockets it's an extremely rare opportunity."

On 9 September 2015, Elizabeth II became Britain's longest-reigning monarch - surpassing the reign of her great-great-grandmother Queen Victoria.

Elizabeth II had reigned for 63 years and seven months when she surpassed Queen Victoria's record in September 2015

The late queen died on 8 September 2022 after reigning for 70 years.

Mr Hayward added: "From time to time the Royal Mint issues bullion coins in precious metals which have a much higher intrinsic value than their face value.

"They are legal tender but not meant for circulation - they are generally bought by investors or collectors who appreciate special editions as pieces of art."

The coin will be auctioned at Hansons' Derbyshire saleroom in Etwall, near Derby.