Watch List notes:

CHINA. Silver Reduced Size Dollar Pattern, Year 25 (1936). Struck in Shanghai at the Central Mint. PCGS SPECIMEN-62 Gold Shield.
L&M-113; K-634; KM-Pn172; WS-0152; Wenchao-926 (rarity four stars); Shanghai Museum-Mr. Shi Jiagan's collection-pg. 135 # 623/624. A sharply struck pattern with clear crisp design features and semi-reflective fields that are slightly subdued by rich medium gray tone accentuated with iridescent hues amongst the devices. EXTREMELY RARE, highly sought after and an excellent trophy piece that seldom appears on the market. The last example we sold was in our inaugural Hong Kong auction December 3, 2010 the "Wa She Wong collection" Lot # 63 where it hammered for an impressive $80,000 plus buyer's fee.

According to famed author and collector Edward Kann, these issues were struck on a trial or essay basis for a proposed reduced module size Dollar and 1/2 Dollar. Struck in limited quantities, the Vice-Governor of the Central Bank of China sent samples of the proposed new Dollar and 1/2 Dollar to the U.S. Treasury Attache at Shanghai to the attention of Mr. M.R. Nicholson for inspection and critique. Based on Mr. Nicholson findings, Kann speculates that these samples correspond to his 633, 634 (present type) and 635.

From the Mas Fera Collection.

With old collector's envelope.

Estimate: $70000.00- $100000.00