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Monday, 25th February 2008 (3555 views)

A gold coin originally worth two yen (0.009 pence) has sold for 32.1 million yen at an auction organised by the country's Finance Ministry, according to reports.

Kyodo News says that the coin, which was mined in 1880, was the only one of its kind in the government's possession. The final bid "sharply exceeded" the previous sale price record for gold coins of 17 million yen.

A previous appraisal of the coin had put its value at 20 million yen, it added.

The record-breaking coin was one of 1,400 coins put under the hammer by the ministry at an auction in Tokyo.

Other sales included a five yen coin from 1896, which fetched 4.55 million yen.

More than 33,000 gold coins have so far been auctioned by the ministry, the site says, with all the proceeds - thought to be around six million yen - going towards the government's budget.

Yen coins were introduced to Japan in 1870. Gold was used for the two, five ten and 20 denominations. Gold one yen coins followed in 1871.

 

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