Watch List notes:

CHINA. Dragon & Phoenix Silver Pattern and Issued 5 Jiao (2 Pieces), 1989 & 1990. Both NGC PROOF-69 Ultra Cameo Certified.
1) The Pattern/Design Concept. 1989. cf. KM-265 (for regular issue).

2) The Regular Issue. 1990. KM-265.

This exceedingly interesting lot features the alluring "Dragon and Phoenix" type that was used across multiple gold and silver bullion issues--this being the 5 Jiao. While the 1990 regular issue is not difficult to encounter, with a mintage of 55,000, the other specimen in this lot--the pattern issue from the year prior--is INCREDIBLY RARE and almost never seen at auction. Our only other sales record for this type emanates from our August 2011 Hong Kong auction, where one hammered at $85,000 (plus buyer's fee). A charming and delightful pairing, and a great opportunity to acquire an exceptional modern rarity with a great design motif.

Estimate: $100000.00- $125000.00