A PRECIOUS piece of British history unearthed at Delamere Forest has proved to be a gold mine at auction.

A tiny 650-year-old gold ring discovered on farmland at Manley Hall, near Northwich, fetched more than £80,000 at auction at Christies on Thursday and has been described as a rare and exciting find.

The unique ring, believed to have been commissioned by Edward III as a gift to one his most loyal supporters was discovered on the edge of Delamere Forest on May 19 four years ago.

The ring, filed as Treasure Trove on June 17, was expected to fetch between £30,000 and £50,000 but sold to an anonymous British collector for £84,000.

A spokesman for Christies told the Guardian: "It's a really exciting discovery for the area and it's an important historical find.

"These rings are incredibly rare which has been reflected in the price that was achieved at auction."

Found by John Wood, a retired tool engineer from Manchester, the origins of the ring baffled experts until Helen Molesworth, jewellery specialist at Christies, solved the mystery.

Delamere Forest was one of the favourite hunting grounds of Edward III then perusing England's claim on France during the Hundred Years War.

Helen said: "Enamelled and engraved rings from the 14th century often fall within a tradition of mediaeval love rings where lovers' initials may both be engraved within the ring.

"However, there may also be a stronger political influence behind this ring. The use of a diamond within a ring is very unusual in the 14th century and marks this ring as an important and significant object, and possibly gift."

She added: "The motto reading across both sides of the hoop, 'loyaute sans fin', indicates an eternal dedication of loyalty, and together with the initials V and A either side of the bezel would be an appropriate dedication between the King of England and his closest Flemish supporter within the political climate of the mid 14th century."

It is believed Mr Wood has agreed to share half the proceeds with the landowner.