Heritage World Coin Auctions
NYINC Signature Sale 3051 8-9 January 2017
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Japan
Meiji Proof 5 Sen Year 13 (1880) PR64 NGC, Osaka mint, KM-Y22, JNDA 1-35, JV-V9. An incomparable offering in every way, this cerulean-toned jewel possesses mirrors with deep flash along with three-dimensional design illustrations that rise to full completion. A quick flit of the wrist awakens the dragon motif, producing a chiaroscuro effect across the scales, and the eye is wholly satiated as it studies each individual detail. The reverse is every bit as enticing as its counterpart--with open expanses that mimic a moonlit sky and rims that are exceptionally broad and appropriately squared-off--while any evidence of handling effortlessly disappears beneath the patination. According to the specialized catalogs, the mintage of this date comes in at just 79 pieces, very few of which are known to have survived. This happens to be the second example that we have had the pleasure of bringing to the numismatic community, with the last being the heavily circulated example in the Norman Jacobs Collection, graded VF20 by NGC, that hammered for $22,000 in our 2011 sale. As a clear superior to that coin, and the only certified proof of the date, this piece is sure to attracted spirited attention.
From the Commander Collection
---More on the Meiji 13 (1880) Proof Set---
On its existence...
The Meiji 13 proof set is among the most significant numismatic items in the world, not only because of the incredible rarity of each of the set's components, but because of its presentation role, undeniably gifted to heads-of-state or high-ranking foreign liaisons during this infancy period of Japan's opening to the western world. These sets certainly played an integral role in the development of relationships, which ultimately would not only shape Japan as a nation, but the many nations who reciprocated in trade.
On its rarity...
While mintage figures for several of the denominations in proof have been recorded, and they are all tiny, their survival rate appears to be much smaller, alarmingly so in fact (with well below 10 of most denominations known), with other factors surely contributing to the set's extreme rarity. Perhaps the most likely scenario is that only a small portion of those struck were actually distributed, with the ungifted pieces either having been melted or even later finding their way into circulation. The appearance of several circulated specimens in our offering of the Norman Jacobs collection in 2011 would seem to support this theory. Further, the uneven published mintages, ranging from 77 (10 sen) to 179 (50 sen) [note: the rin, with a listed mintage of 810, while appearing seldomly, does seem to have been produced in regular circulating condition] would logically point to a maximum of 77 sets, with many duplicates becoming "unnecessary". While we are aware of no fully intact sets, it seems inconceivable that these presentation coins, especially those not in gold, would have been officially distributed in any manner other than as a full set.
On comparable numismatic items...
There are few numismatic issues worldwide that compare in composition and stature to the Meiji 13 set, with the most well-known clearly being those struck by the United States during the administration of President Andrew Jackson in the mid-1830s. That set, produced for similar diplomatic reasons, contained 11 items (4 gold, 5 silver, 2 copper), including a small gold medal with the President's likeness and the individually-famous 1804 dollar. Similar in rarity, we know of only a single instance where this presentation remains "intact", that being the set gifted to the King of Siam. Kept from the public eye for over a century, the set re-surfaced in the late 1950s in London with the half dime and medal missing. Most recently, the set was sold in 2005 for $8.5 million. If re-offered today as individual pieces, both Dollar and Ten Dollar piece from this set alone, both dated 1804, would almost certainly eclipse the total previous set price.
Estimate: 15000-25000 USD
Meiji Proof 5 Sen Year 13 (1880) PR64 NGC, Osaka mint, KM-Y22, JNDA 1-35, JV-V9. An incomparable offering in every way, this cerulean-toned jewel possesses mirrors with deep flash along with three-dimensional design illustrations that rise to full completion. A quick flit of the wrist awakens the dragon motif, producing a chiaroscuro effect across the scales, and the eye is wholly satiated as it studies each individual detail. The reverse is every bit as enticing as its counterpart--with open expanses that mimic a moonlit sky and rims that are exceptionally broad and appropriately squared-off--while any evidence of handling effortlessly disappears beneath the patination. According to the specialized catalogs, the mintage of this date comes in at just 79 pieces, very few of which are known to have survived. This happens to be the second example that we have had the pleasure of bringing to the numismatic community, with the last being the heavily circulated example in the Norman Jacobs Collection, graded VF20 by NGC, that hammered for $22,000 in our 2011 sale. As a clear superior to that coin, and the only certified proof of the date, this piece is sure to attracted spirited attention.
From the Commander Collection
---More on the Meiji 13 (1880) Proof Set---
On its existence...
The Meiji 13 proof set is among the most significant numismatic items in the world, not only because of the incredible rarity of each of the set's components, but because of its presentation role, undeniably gifted to heads-of-state or high-ranking foreign liaisons during this infancy period of Japan's opening to the western world. These sets certainly played an integral role in the development of relationships, which ultimately would not only shape Japan as a nation, but the many nations who reciprocated in trade.
On its rarity...
While mintage figures for several of the denominations in proof have been recorded, and they are all tiny, their survival rate appears to be much smaller, alarmingly so in fact (with well below 10 of most denominations known), with other factors surely contributing to the set's extreme rarity. Perhaps the most likely scenario is that only a small portion of those struck were actually distributed, with the ungifted pieces either having been melted or even later finding their way into circulation. The appearance of several circulated specimens in our offering of the Norman Jacobs collection in 2011 would seem to support this theory. Further, the uneven published mintages, ranging from 77 (10 sen) to 179 (50 sen) [note: the rin, with a listed mintage of 810, while appearing seldomly, does seem to have been produced in regular circulating condition] would logically point to a maximum of 77 sets, with many duplicates becoming "unnecessary". While we are aware of no fully intact sets, it seems inconceivable that these presentation coins, especially those not in gold, would have been officially distributed in any manner other than as a full set.
On comparable numismatic items...
There are few numismatic issues worldwide that compare in composition and stature to the Meiji 13 set, with the most well-known clearly being those struck by the United States during the administration of President Andrew Jackson in the mid-1830s. That set, produced for similar diplomatic reasons, contained 11 items (4 gold, 5 silver, 2 copper), including a small gold medal with the President's likeness and the individually-famous 1804 dollar. Similar in rarity, we know of only a single instance where this presentation remains "intact", that being the set gifted to the King of Siam. Kept from the public eye for over a century, the set re-surfaced in the late 1950s in London with the half dime and medal missing. Most recently, the set was sold in 2005 for $8.5 million. If re-offered today as individual pieces, both Dollar and Ten Dollar piece from this set alone, both dated 1804, would almost certainly eclipse the total previous set price.
Estimate: 15000-25000 USD