Stack's Bowers & Ponterio
April 2021 Hong Kong Auction 5-8 Apr 2021
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(t) CHINA. Silver Dollar Pattern, ND (1916). PCGS SPECIMEN-60 Gold Shield.
cf. L&M-944 (same dies); K-663b (same dies); KM-Y-332; Wenchao-1103 (same dies); WS-Unlisted (with plumes); Shanghai Museum-Mr. Shi Jiagan's Collection-pg.122#580 (same dies). Variety with reeded edge, low, even plumage, and more pronounced spines on the dragon's back. This EXTREMELY RARE die variant seldom appears on the market and is the first one that we can recall seeing or handling as being struck in this composition. In fact, we have only offered this die paring one other time, but that example was struck in gold (see our December 2015 Hong Kong auction, Lot # 60089). This particular die pairing exhibits subtle yet distinct characteristics that differentiate this specimen from its significantly more common counterpart (L&M-942): the base of the plume at the top of the hat is even on both sides, there are minor variations in the calligraphy on the reverse, and one observes more pronounced spines on the dragon's back. Another characteristic that stands out and sets it apart is the fact that the fields have a flashy, prooflike appearance instead of the satiny luster normally associated with the issues that bare this design. Though the flashiness is somewhat subdued by an attractive, delicate patina with wispy hairlines from being gently handled long ago, this piece has been given great care attesting to its desirability. Undoubtedly, it is a coin that is destined for an advanced collection of an expert looking for the substantially more difficult issues to obtain.
cf. L&M-944 (same dies); K-663b (same dies); KM-Y-332; Wenchao-1103 (same dies); WS-Unlisted (with plumes); Shanghai Museum-Mr. Shi Jiagan's Collection-pg.122#580 (same dies). Variety with reeded edge, low, even plumage, and more pronounced spines on the dragon's back. This EXTREMELY RARE die variant seldom appears on the market and is the first one that we can recall seeing or handling as being struck in this composition. In fact, we have only offered this die paring one other time, but that example was struck in gold (see our December 2015 Hong Kong auction, Lot # 60089). This particular die pairing exhibits subtle yet distinct characteristics that differentiate this specimen from its significantly more common counterpart (L&M-942): the base of the plume at the top of the hat is even on both sides, there are minor variations in the calligraphy on the reverse, and one observes more pronounced spines on the dragon's back. Another characteristic that stands out and sets it apart is the fact that the fields have a flashy, prooflike appearance instead of the satiny luster normally associated with the issues that bare this design. Though the flashiness is somewhat subdued by an attractive, delicate patina with wispy hairlines from being gently handled long ago, this piece has been given great care attesting to its desirability. Undoubtedly, it is a coin that is destined for an advanced collection of an expert looking for the substantially more difficult issues to obtain.
It is also interesting to note that famous American coin dealer, Mr. Henry Chapman, somehow acquired a set of original dies for this issue and took them to the Philadelphia mint to have examples struck in 1921 (as proved by official US mint receipts that we sold in our April 2012 Hong Kong auction, Lot # 20385). The receipt shows that only 25 examples were struck in gold and another 50 in silver. It is possible, given the incredible rarity and subtle differences, that the present example is, in fact, one of the limited quantities struck at the Philadelphia mint in 1921, but with no concrete evidence, this is purely speculative.
Also, the PCGS insert indicates that this is L&M-942, but misses the fact that it was struck with the same dies as the piece plated as L&M-944.
From the Pinnacle Collection.
Estimate: $30000.00- $60000.00