U.S.-owned Magna Carta copy to be sold

NEW YORK, Sept. 25 (UPI) -- The only privately owned copy of the Magna Carta is about to go on the auction block in the United States where it could fetch $30 million.

The copy, which has been on display at the National Archives in Washington, is owned by a private U.S. foundation that purchased it in 1984 for $1.5 million.

Sotheby’s said Tuesday the copy had been owned by Britain’s Brundell family since at least the 1400s. There are 17 known copies of the document.

The auction is to take place in December.

The Magna Carta is the basis of British law and is considered the basis of the U.S. Constitution. It was agreed to by King John in 1215.

An employee for the Perot Foundation, which owns the document, told The New York Times the proceeds from the sale will be invested in healthcare and educational assistance for wounded soldiers.