Heritage rare coin sale tops $3.58 million in Hong Kong

CoinCrazy

CoinCrazy

2016-07-06 15:44:30

Heritage Auctions' latest sale of rare coins and currency in Hong Kong brought a result of more than $3.58 million.

A strong offering of modern and antique Chinese coins helped the sale top past results, with an increase of 30% on the corresponding sale in December 2015 and a strong sell-through rate of 96%.

Leading the sale was a remarkably preserved 1889 Kwangtung Empire Specimen Pattern Dollar, the first dragon dollar to be struck on modernized equipment in China and the standard for all dragon dollars that have followed.

The coin, which had been described as "an absolute marvel of existence...one of the most significant issues from the modernized era of Chinese coinage", was graded SP64+ Brown PCGS and sold for $150,000.

Another standout lot was a People's Republic gold & silver 'Year of the Child' Proof Piefort Set, featuring the rare and highly sought-after 35 Yuan silver coin and a 450 Yuan gold coin. Produced in 1979 to commemorate UNESCOs 'Year of the Child, commemorating the 20th anniversary of the 1959 Declaration of the Rights of the Child, the set sold for $143,400.

There was also an impressive result for one of the rarest modern Chinese gold coins, one of only 100 examples of the 1993 People's Republic Gold Panda Proof 500 Yuan, graded PR69 Ultra Cameo NGC, which easily beat its high estimate to fetch $45,410.

Further top-selling lots included a 1921 Republic Hsu Shih-Chang Gold Dollar MS63 NGC which sold for $45,410; a 1866 Hong Kong British Colony Victoria Proof Dollar PR62 PCGS which sold for $43,020; and a 1993 People's Republic 'Marco Polo' 500 Yuan Gold Proof PR68 Ultra Cameo NGC which realized $38,240.

"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!"

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