Coe was at Kingston's National Stadium on Saturday to watch Bolt run his last race on Jamaican soil before he retires at the World Championships in London.
In an interview with AFP yesterday, International Association of Athletics Federations chief Coe said he had been determined to pay homage to Bolt as his glittering career begins its victory lap.
"Just instinctively you knew it was going to be a big moment," Coe said.
"And what was fascinating is those people who came up to me who had flown in from other continents to be here. People instinctively knew that they were going to witness something that was going to be special and unique, and it was."
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Bolt duly delivered a 100m victory in 10.03 seconds for a sea of 30,000 fans bedecked in yellow and green.
Coe said Bolt will retire from the sport as the greatest sprinter of all-time, a rare athlete who transcended his sport and appealed across the sporting spectrum after dominating at three consecutive Olympic games.
"He has a charisma that I haven't seen in my sport in my lifetime other than with Ali and I put them in the same category.
"When Ali went we had the same conversations. But along came Sugar Ray Leonard and Floyd Maywether, Roberto Duran and Manny Pacquiao . We had great great fighters. But have they soared to the level of the great Ali, no. But they kept the sport exciting and fresh.
This may be Bolt's last race in Jamaica but he has a couple more events before he caps his brilliant career by running the 100m in Worlds which goes from August 4-13.
- National treasure -
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"He is going to come to the World Championships and yes that is a fitting place for him to end his career considering what he has done globally," said Coe.
Coe said as a former Olympic gold medal winner in the 1,500m he can understand why Bolt would want to bow out now.
"He probably has instinctively realized this is the right moment. There comes a point at which the candle flickers a bit," he said. "No athlete wants to be asked the question why didn't you retire sooner?"
Coe said Bolt, who has the world record in both the 100m and 200m, can retire in peace knowing that he gave it his all for 15 years.
"He is also comfortable in his own skin. He will always be a national treasure and that is just enough, just enough.
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