Three new-to-auction Korean gold coins could bring $1.5m at Heritage



2015-06-26 12:30:59

Three new-to-auction Korean gold coins could bring $1.5m at Heritage

The only examples on the private markets, the pristine 1909 coins are from the Jacobs collection

Whilst of course there is a major rare coin sale at Heritage this week (August 12) featuring great US rarities such as a World Record-breaking Morgan Silver dollar and an 1855-S Proof Three Dollar Gold Piece,many collectors are looking further ahead at the auction house with growing anticipation.

Heritage's September Long Beach World Coin Auction is billed by the company as 'its largest ever' and features the Rubicon Collection, most notably the rare, famous and fascinating Ides of March denaurius, which is expected to achieve around $500,000.

But the auction is not limited to great European powers or one great collection.

The Norman Jacobs Collection of Japanese and Korean numismatic rarities will play a strong part in the sale, with 350 lots of Japanese and 91 lots of Korean coins and banknotes.

The centrepiece of these offerings is a set of 1909 Korean Yung Hi gold, Year 3, in 5 Won, 10 Won and 20 Won denominations, collectively estimated at $1.5m or more.

5 Won 1909 Korean gold coin Two of every kind... This dragon's only mate is in a museum

The 5 Won is an extremely rare issue and (along with the following two lots) one of the most important coins in all Korean numismatics. Only two pieces are known, and the other is in a Japanese museum.

No example has ever been offered for public sale of this Korean gold coin for this date. Fully brilliant, and well struck it has been graded MS by the NGC, though Heritage think a Proof-grading would be more appropriate as it is not a normal circulation strike.

Similar conditional debates and identical rarities apply to the other two denominations. This would be the first opportunity for a Korean collector to own these coins, so that alone is likely to spice up the bidding.

Heritage's auction will take place on September 7-12 in California.

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