Stack's Bowers & Ponterio
April 2015 Hong Kong Auction - Sess. A-C 30 Mar-1 Apr 2015
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CHINA. Kwangtung. 7 Mace 3 Candareens (Dollar), ND (1889). NGC AU-58.
L&M-123; K-16; Y-198; W&S-0931; Wenchao-552 (rarity four stars). Authorization to establish the Kwangtung mint was granted in 1887, implemented by Viceroy Chang Chi-Tung. In order to modernize the mint, minting machinery, dies, hubs, and other equipment were ordered from the Heaton mint at Birmingham. Upon their arrival in 1888, Kwangtung became the first mint in China to use modern minting machinery. At this time, this mint was the largest in the world. Patterns for the first coins were designed by Allan Wyon in the denominations of 1 Dollar, 50 Cents, 20 Cents, and 10 Cents. The first Heaton patterns were later delivered to the Chinese ambassador in London. For some reason, the initial order did not include the 5 Cent piece which was struck later at the Kwangtung mint. The series is referred to by numismatists as the "Seven Three Reversed Pattern". The term "Seven Three" directly relates to the silver content. The term "Reversed Pattern" refers to the English and Chinese legends which are reversed from what later became standard. Initially, Kwangtung introduced the first coinage with a higher silver value, with the intention of replacing foreign coins circulating within China. The standard of 7 Mace 2 Candareens was raised to 7 Mace 3 Candareens in order to gain public acceptance and replace the Mexican 8 Reales. Soon after its release, they were being melted down to retrieve the excess silver content. This coin is historically significant as it is the first modern machine struck silver coins of China. Represented here is the first use of what became the "standard design" for provincial mints, bearing the effigy of a facing dragon. This type became the standard design, not only for the Kwangtung mint, but for all mints in China that adopted the dragon design. The piece offered for sale here is quite RARE in that it is an actual circulation strike, most of which were melted down to retrieve the extra Candareen of silver. Deeply toned, showing light wear from circulation. Quite nice quality for this EXTREMELY RARE type. Used as a plate example in "Top Chinese Coins" by Chou, Guth and Smith. Tied with one other piece in this grade from NGC, with eight finer. NGC AU-58.
Estimate: $80000.00- $100000.00
L&M-123; K-16; Y-198; W&S-0931; Wenchao-552 (rarity four stars). Authorization to establish the Kwangtung mint was granted in 1887, implemented by Viceroy Chang Chi-Tung. In order to modernize the mint, minting machinery, dies, hubs, and other equipment were ordered from the Heaton mint at Birmingham. Upon their arrival in 1888, Kwangtung became the first mint in China to use modern minting machinery. At this time, this mint was the largest in the world. Patterns for the first coins were designed by Allan Wyon in the denominations of 1 Dollar, 50 Cents, 20 Cents, and 10 Cents. The first Heaton patterns were later delivered to the Chinese ambassador in London. For some reason, the initial order did not include the 5 Cent piece which was struck later at the Kwangtung mint. The series is referred to by numismatists as the "Seven Three Reversed Pattern". The term "Seven Three" directly relates to the silver content. The term "Reversed Pattern" refers to the English and Chinese legends which are reversed from what later became standard. Initially, Kwangtung introduced the first coinage with a higher silver value, with the intention of replacing foreign coins circulating within China. The standard of 7 Mace 2 Candareens was raised to 7 Mace 3 Candareens in order to gain public acceptance and replace the Mexican 8 Reales. Soon after its release, they were being melted down to retrieve the excess silver content. This coin is historically significant as it is the first modern machine struck silver coins of China. Represented here is the first use of what became the "standard design" for provincial mints, bearing the effigy of a facing dragon. This type became the standard design, not only for the Kwangtung mint, but for all mints in China that adopted the dragon design. The piece offered for sale here is quite RARE in that it is an actual circulation strike, most of which were melted down to retrieve the extra Candareen of silver. Deeply toned, showing light wear from circulation. Quite nice quality for this EXTREMELY RARE type. Used as a plate example in "Top Chinese Coins" by Chou, Guth and Smith. Tied with one other piece in this grade from NGC, with eight finer. NGC AU-58.
Ex: Taisei-Baldwin-Gillio Hong Kong Coin Auction Sale 18 Lot #432, September 8, 1994.
W&B Capital Collection.
Estimate: $80000.00- $100000.00