Historic Ipswich penny fetches £3,500 under the hammer

The Ipswich Penny

The Ipswich Penny - Credit: Archant

A coin more than 1,000-years-old believed to be one of the first to bear the name of Ipswich has sold for £3,500 at auction.

The penny, minted in Ipswich and discovered in Germany, is thought to be one of just 12 in the world.

On one side is a bust of Kind Eadgar, while the other contains the words Leofric, meaning Moneyer, M-O meaning Moneta, and Gipes, the name at the time for Ipswich.

It is believed the coin was part of a payment sent to the Vikings to hopefully stop them launching further raids on Ipswich.

There was hot competition for the coin when it went under the hammer at Lockdales auction house in Martlesham on Saturday.

Bidding exceeded the guide price of £2-2,500.

James Sadler, Lockdales auction manager, said: “It was a good price for a wonderful piece of our history.”

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Of the other known coins seven are in museums and the rest are with various European collectors.

Also sold at the auction was a 1936 programme for an Ipswich Town v Wolves friendly match at Portman Road, which fetched £150.