Stack's Bowers & Ponterio
April 2021 Hong Kong Auction 5-8 Apr 2021
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(t) CHINA. Gold Tael Pattern (Modern Restrike), Year 29 (1903). NGC PROOF-66 Cameo.
L&M-1019; Fr-Unlisted; K-927; cf. Chang Foundation-pg.16 #2; cf. Wenchao-pg.44 #6 (rarity five stars); WS-0001. Plain edge. Struck from original dies. Although a modern restrike from original dies this issue remains incredibly RARE and highly sought after by collectors. This pattern in gold seldom appears on the market in any form and is virtually uncollectable. The strike is needle sharp with intricate frosted devices in stark contrast to the highly reflective mirrored fields. Clearly the dies for these have been heavily polished creating a cameo effect not encountered on originals of this series, but still retain slightly rough surface texture in areas indicative of die rust. The bright yellow golden color catches the attention of those who behold it where the dragon appears to be flying right off the surface of the coin. The obverse is brilliant and free of tone while the reverse displays just a hint of patination that pops out when tilted in the light adding to its pleasing appearance.
L&M-1019; Fr-Unlisted; K-927; cf. Chang Foundation-pg.16 #2; cf. Wenchao-pg.44 #6 (rarity five stars); WS-0001. Plain edge. Struck from original dies. Although a modern restrike from original dies this issue remains incredibly RARE and highly sought after by collectors. This pattern in gold seldom appears on the market in any form and is virtually uncollectable. The strike is needle sharp with intricate frosted devices in stark contrast to the highly reflective mirrored fields. Clearly the dies for these have been heavily polished creating a cameo effect not encountered on originals of this series, but still retain slightly rough surface texture in areas indicative of die rust. The bright yellow golden color catches the attention of those who behold it where the dragon appears to be flying right off the surface of the coin. The obverse is brilliant and free of tone while the reverse displays just a hint of patination that pops out when tilted in the light adding to its pleasing appearance.
Although officially struck at the Tientsin Mint, the original dies were ordered from and prepared by the Osaka Mint in Japan. These issues are known in at least three different metal types including gold, silver and bronze all of which should be considered EXTREMELY RARE and highly sought after. This was done under the supervision of Robert Hart, Inspector General of Maritime Customs. The initial goal was an early attempt to unify Chinese coinage on the gold standard. Denominations were produced in 1 Tael, 5, 2, 1 and 1/2 Mace. The project failed for several reasons and never came to fruition. The project met a great deal of resistance from the directors of the provincial mints as the outlined plan called for one central mint being responsible for coinage production. This was in order to insure the uniformity of the new coinage and would prove to cut into the profits of the provincial directors. Also, at this time there was no plan in place to deal with the vastly different types of paper money circulating in China and how to accept them in exchange.
Estimate: $20000.00- $30000.00