A Numismatic Guaranty Corporation (NGC) – certified China 1898 Hunan Pattern Silver Dollar, which recently sold for over US $1 million, will be on display in Macau on November 29 in a special event sponsored by Champion Auctions in conjunction with the Macau Numismatic Society show. The finest of only six known examples, this important coin has not been seen publicly since it was sold at auction in 1975. It is graded NGC SP 67 as pedigreed to the “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 the time, this coin achieved a world record price and became the first Chinese coin to sell for more than US $10,000.
Michael Chou, of Champion Auctions, and a client jointly purchased this extraordinary coin in a private sale earlier this year for a price that exceeded US $1 million after the coin was graded by NGC. It will be exhibited at Champion Auctions’ Special Numismatic Display at the Ponte 16 Sofitel Macau Hotel on November 29 in conjunction with the Macau Numismatic Society show, held annually in November.
“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 US $1 million barrier. The first was the 1910 Yunnan Spring Dollar graded NGC AU 55, which sold for US $1,062,000 in August 2010 by Champion Auctions as part of its sale of the Ultima Collection. Champion Auctions will also showcase this NGC-certified 1910 Yunnan Spring Dollar at its Special Numismatic Display in Macau.
A year after it sold the 1910 Yunnan Spring Dollar for more than US $1 million, Champion Auctions sold a 1992 Compass 2,000 Yuan Gold Kilo (Serial #6), graded NGC PF 69 Ultra Cameo, for a world-record price of US $1,298,000. NGC is currently the only third-party coin grading service to have certified Chinese coins that have subsequently sold for more than US $1 million.
“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.”
To view the million-dollar NGC-certified 1898 Hunan Province Pattern Dollar and the 1910 Yunnan Spring Dollar, visit Champion Auctions’ Special Numismatic Display at the Ponte 16 Sofitel Macau Hotel on November 29 during the Macau Numismatic Society show, held November 28-30 at the Kam Pek Community Centre. Champion Auctions will host a sale on November 30 that will include more than 100 NGC-certified coins from the NC Collection and more than 50 NGC-certified coins from the JC Lee Collection. For more information and to bid, visit cghka.com.