The auction was ordered by the administrator of Austrian investment group AvW Invest, which filed for insolvency in May after its owner and chief executive was arrested on suspicion of fraud, breach of trust and other charges.

AvW had acquired the coin in 2007, joining an exclusive club of owners including Queen Elizabeth, who is also displayed on one side of the coin, two unidentified investors in Dubai and one who is so reclusive even his or her residence is unknown.