Champion Hong Kong Auction Sets String Of Record PricesThe hot coin market in China is producing record prices for rare Chinese coins and paper money. Champion Galleries Hong Kong Auction sale of 22 June 2008 offered a modest 352 lots of Asian coins and paper money, of which 317 lots sold for a total of US $1,894,539. Over 100 bidders filled the packed room at the Holiday Inn Golden Mile that Sunday, generating nearly a dozen world record prices. The strongest bidders in this sale were actually from Singapore, Taiwan, Hong Kong, and Chia.
The star of the sale was Lot 216, the 1867 Hong Kong and Shanghai Tael pattern (K911a), certified PCGS Proof-64, and the finest known example, which sold for US $195,500 -- a world record price for a Hong Kong coin (all prices in this review include the buyer's fee). This coin went to a phone buyer in Singapore. Lot 198, a Peiyang Tael of 1907 (K938a), estimated at $70,000, went for $120,750 (to buyer in Taiwan), topping the $97,500 price obtained for another example in Champion's April 2008 sale. This too is a world record price for this coin. Lot 201, an undated (1897-1898) Hunan Dragon Half Dollar, which was unknown until 1975 and is not recorded in the Kann catalog, one of about 6 known pieces, brought $92,000. Lot 184 was a 1903 Hupoo Tael (K927), NGC certified Specimen-64, which sold to a Taiwan buyer for $80,500. Lot 205 was a stunning Kiangnan 50 cent dragon coin struck in 1897 (K67), certified NGC Proof-67 Cameo, undoubtedly the finest known example, which went to a buyer in Singapore for a world record price of $78,200. A set of 1936 Small Size Dollar and Half Dollar patterns, with sailing junk on the reverse (K634 & 635), went to a collector in China for $36,800 (a world record price) and $18,400 respectively. Lot 217, a regular issue Sun Yat Sen Dollar of 1912 (Y318; K600), NGC certified MS65 and estimated at $3,000, realized $14,950 -- another world record price.
Among the gold coins in the sale, a 1906 Gold Tael Pattern (K1540), Lot 181, sold to a buyer in Hong Kong for $80,500. A pair of 1926 Shantung Gold $20 and $10 coins (K1535 & 1536) were obtained by a Singapore collector for $69,000 and $51,750, respectively, both world record prices. A Peoples Republic of China 1995-dated 5 ounce gold piece, honoring Hsu Pei-hung (Xu Beihong), said to be a 500 yuan coin, but unlisted in the Krause Standard Catalog of World Coins, with mintage of only 100 pieces, sold to a buyer in China for $43,700 on an $18,000 estimate; another world record.
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Posted 07/08/2008 4:46 pm
