Republic gold Pattern "Dragon & Phoenix" Dollar Year 12 (1923) MS64 NGC, Tientsin mint, KM-Pn70, L&M-1096a, Kann-1575. Variety with value in small characters. Obv. Unadopted national emblem of Dragon and Phoenix. Rev. Value within wreath. Nearly mark-free, with a few very minor hairlines preventing this piece from Gem certification. The fields are fully mirrored, with bold strike on both the obverse and reverse. Both sides display even gold-orange patina with superb eye-appeal. Long thought to have been struck for the wedding of Pu Yi, it has been determined that this piece is actually a trial issue for the unadopted new national emblem. Given its sublime beauty and great rarity in gold, this type understandably ranks among the most coveted items from the early Republic of China period.
From the W&B Capital Collection
Estimate: 100000-120000 USD