The pages of the Muslim holy text had remained unrecognised in the university library for almost a century.
The British Library's expert on such manuscripts, Dr Muhammad Isa Waley, said this "exciting discovery" would make Muslims "rejoice".
The manuscript had been kept with a collection of other Middle Eastern books and documents, without being identified as one of the oldest fragments of the Koran in the world.
"Finding out we had one of the oldest fragments of the Koran in the whole world has been fantastically exciting."
Prof Thomas says the dating of the Birmingham folios would mean it was quite possible that the person who had written them would have been alive at the time of the Prophet Muhammad.
The Muslim community was not wealthy enough to stockpile animal skins for decades, and to produce a complete Mushaf, or copy, of the Holy Koran required a great many of them."
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