A newly-found coin thought to be an extremely rare example of Bermuda's first currency is to be sent to London next week for verification.

Firefighter Arthur Raynor discovered what he hopes is an original Hog Shilling, dating from 1616, in St. George's earlier this month.

If it turns out to be an original, it will be one of what are thought to be just 40 known examples of Hog Money, which is named after the wild boars which lived on the Island in the 17th Century.

Bermuda Monetary Authority (BMA) is sending the shilling to international coin experts Spink and Son in London, who will determine if it is authentic and assess its value.

Mr. Raynor said the BMA wants to have first chance to buy the coin if it is genuine, which he is happy to accept, because he wants it to remain in Bermuda.

The currency was minted in London in 1616 for the Bermuda Company to be used in the company store, and is thought to have gone out of use by 1626 at the very latest.

Between 1612, when the Island was settled, and 1616, tobacco and the Spanish dollar were used as currency in Bermuda.

The Royal Gazette revealed last Monday how Mr. Raynor, who lives in Warwick, discovered the coin at a secret location near forts at St. George's while searching with his metal detector.

He told The Royal Gazette last Monday: “They are going to send it to Spinks to have it authenticated.

“If it is authenticated, they are going to have first dibs on buying it, which I am quite happy about.

“The BMA knew all about me through the newspaper article this morning and when I walked in the receptionist said ‘I know who you are'.

“Everyone in Hamilton today has been stopping me and ribbing me about it. One said: ‘Do you want a bodyguard for that million dollar coin?'.

“The BMA have got a Bermuda coin book and although there is a bit missing from mine, mine is in a lot better condition than the pictures they have of their collection, so I am hoping it is genuine.”

A BMA spokeswoman said: “We have met with Mr. Raynor today and we have agreed that the BMA will take the coin on loan to have it authenticated, most likely with Spinks in London.”