The penny was found buried 10cm deep by metal detectorist Michael Leigh-Mallory.

Mr Leigh-Mallory posted a picture of the coin on social media where it was spotted by London-based auctioneers Spink.

The auctioneers labelled the coin as a fine example of England’s oldest gold penny, The Guardian reports. 

The penny Leigh-Mallory found was struck in about 1257 by the king’s goldsmith, William of Gloucester, with precious metal imported from north Africa; it featured a portrait of the bearded and crowned Henry III on his throne. About 52,000 were minted.

Leigh-Mallory will split the proceeds of the find with the landowner and plans to use his windfall to help fund the future education of his children.