An elegantly preserved 1889 Kwangtung Empire Specimen Pattern Dollar SP64+ Brown PCGS commanded $150,000 in Heritage Auctions
Hong Kong's $3.58+ million joint World & Ancient Coins and Currency Signature Auctions, held June 22-24, 2016 at the Mira Hotel Tsim Sha Tsui, Kowloon, Hong Kong. The $150,000 price realized for the Kwangtung Dollar is one of the highest prices paid for any Chinese copper coin, regardless of year or denomination.
Modern Chinese coins also faired very well, with prices considerably stronger than they had been in previous auctions with any firm. The top modern sale was a 1979 People's Republic "Year of the Child" Proof Piefort Set containing a 35 Yuan silver coin and a 450 Yuan gold coin, which realized an impressive 1$43,400. The two proofs in the set are exceedingly rare, with a mintage of 2,000 for the silver piece and 500 for the gold piece.
The event proved to be a success, with total sales approximately 30% higher than the December 2015 Hong Kong auctions. Moreover, over 340 more lots were sold across the two events, boasting a sell-through rate of 96%. "Our auction exceeded our most optimistic expectations," said Cristiano Bierrenbach, Heritage's Executive Vice President of International Numismatics. "Several agents and bidders commented on their inability to win lots in the auction as prices were 'way too high.' Of course we are always thrilled for our consigners to hear such feedback!"
An exceptionally scarce 1907 High Relief Double Eagle MC66 NGC led the continental numismatic sales, realizing $59,750. In addition, one of the rarest modern Chinese gold coins enticed. A 1993 People's Republic Gold Panda Proof 500 Yuan PR69 Ultra Cameo NGC, one of just 100 produced, sold for $45,410, over $15,000 more than its upper estimate.
In the accompanying World Currency Signature Auction, a coveted 1909 Kwangsi Bank $5 Note realized $71,700. As one of the most storied notes in Chinese currency, interest was high and bidding was lively. A striking 1874 Straights Settlements $100 Bank Proof, PMG Choice Uncirculated 63 also starred, selling for $28,680.
Further highlights include, but are not limited to:
1921 Republic Hsu Shih-Chang Gold Dollar MS63 NGC: Realized $45,410.
1866 Hong Kong British Colony Victoria Proof Dollar PR62 PCGS: Realized $43,020.
1993 People's Republic "Marco Polo" 500 Yuan Gold Proof PR68 Ultra Cameo NGC: Realized $38,240.
1995 People's Republic Five-Piece Gold "Small Date" and "Large Date" Panda Set: Realized $34,655.