Year of the Horse coin charges to $120,000



2015-06-26 11:57:37

Year of the Horse coin charges to $120,000

The recent Chinese rarity has already broken free of its guide price a week ahead of auction

Next week, Heritage is holding a sale of rare coins of the world in Rosemont, Illinois. The leading lot is very rare indeed - and surprisingly from the 21st century.

Only 15 Lunar Series Kilo gold coins, with the notional worth of 10,000 Yuan, were minted in at the Shanghai mint in China in order to celebrate the Year of the Horse 2002. This is number 10 of those 15 - some of the others are known to have been melted down already.

The obverse of the coin shows Da Zheng Hall of the Imperial Palace in Shenyang, with the name of the issue. It has an unusual eight-sided, scalloped shape and plain edge. The reverse depicts an attractive image of pair of galloping horses.

Gold Year of the Horse coin Gold 10,000 Yuan coin - most were exported to the US and Europe

The condition of the piece is Gem Cameo Proof, which is no doubt thanks in part to the fact that it remains clothed in its original soft transparent plastic and housed in its original cherry-wood case.

Estimated at $75,000-100,000, the piece has already attracted a bid of $120,000 over the internet, perhaps because for anyone able to keep it in its current condition it is an obvious investment opportunity.

Heritage's auction takes place on April 23, with internet/phone bidding available until April 22.

Coin collectors and numismatists may also be interested in taking a look at this portfolio of rare gold coins which is currently available.

Images: Heritage Auction Galleries

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