Brisbane tradie finds rare gold coin under tree

A Brisbane tradesman-turned-metal detector enthusiast has discovered an extremely expensive and rare gold coin while searching his local area on Saturday night.

Wayne Ryan is no stranger to finding hidden treasures across the city, but when he stumbled across an 1885 gold sovereign coin featuring Queen Victoria, he says his stomach nearly dropped.

READ MORE: Melbourne woman finds coin worth $3000

He was searching around some tree roots when his machine started to ping loudly.

After digging a little further, the 40-year-old discovered a 22-carat gold coin, which was minted in Sydney. 

"When I first pulled it out I thought it was a dollar coin and then I wiped it off with my thumbs and it was just utter shock," he said.

On weight alone it's estimated to be worth around $650, but Auctioneer Rick Coleman says given its historical significance, it's worth much more.

"It's very unusual for Queensland. It would have been worth a large amount of money when it was lost," he said.

We'll probably find a buyer for it for $1,000 without any trouble at all".

While most would pocket the cash, Wayne plans to hold onto the coin tightly.

He says it's by far his best find yet and a great asset to the collection.