A China 1898 Hunan Province pattern silver dollar, which recently
sold privately for a price reportedly in excess of $1 million U.S.,
will be on display Nov. 29 in Macau, in a special event sponsored by
Champion Auctions in conjunction with the Macau Numismatic Society show.
The finest of only six known examples, this 1898 Hunan Province
pattern dollar has not been seen publicly since it was sold at auction
in 1975. It is graded by Numismatic Guaranty Corporation as Specimen
67 and is pedigreed to “NC Collection/Champion.”
The 1898 Hunan Province pattern dollar with a dragon design was
unknown to numismatists until it was sold in the 1975 Paramount sale
of the Heaton Mint archives. At that sale, this coin achieved a world
record price and became the first Chinese coin to sell for more than
Michael Chou, of Champion Auctions, and a client jointly purchased
this coin in a private sale earlier this year, he said.
The coin will be exhibited at Champion Auctions’ numismatic display
at the Ponte 16 Sofitel Macau Hotel on Nov. 29 in conjunction with the
annual Macau Numismatic Society show.
“NGC-certified Chinese coins sell for higher prices because Chinese
buyers have greater confidence in NGC’s grade and guarantee,” says
Chou. “My client and I were willing to pay a seven figure sum because
of the peace of mind that comes from NGC grading.”
This rarity is the third NGC-certified Chinese coin to break the
U.S. $1 million barrier. The first was the 1910 Yunnan Spring Dollar
graded NGC About Uncirculated 55, which Champion Auctions sold for
U.S. $1,062,000 in August 2010, as part of the firm's sale of the
Champion Auctions will also showcase this NGC-certified 1910 Yunnan
Spring dollar at its numismatic display in Macau.
A year after it sold the 1910 Yunnan Spring Dollar for more than $1
million U.S., Champion Auctions sold a 1992 kilogram gold 2,000-yuan
Compass coin (serial No. 6), graded NGC Proof-69 Ultra Cameo, for a
world-record price of $1,298,000 U.S. NGC is currently the only
third-party coin grading service to have certified Chinese coins that
have subsequently sold for more than $1 million U.S.
“NGC offers the strongest guarantee of grade and authenticity for
Chinese coins as well as the most accurate and consistent grading,”
says Steven R. Eichenbaum, CEO of NGC. “As a result, NGC-certified
vintage and modern Chinese coins achieve record prices at auction and
in private treaty sales.”
The exhibit is being conducted at the Ponte 16 Sofitel Macau Hotel,
during the Macau Numismatic Society show. The coin show is scheduled
for Nov. 27 to 30 at the nearby Kam Pek Community Centre. Champion has
also scheduled an auction Nov. 30 at the Sofitel.
For more information about the auction or display, visit the auction