Watch List notes:

(t) CHINA. Gold K'uping Tael Pattern, CD (1906). Tientsin Mint. PCGS Genuine--Cleaned, Unc Details.
L&M-1023; Fr-1; K-1540; KM-Pn301; Wenchao-pg. 46 #8 (rarity four stars); Chang Foundation-pg. 22 #5. Plain edge. This gold issue, struck in several iterations, undoubtedly stands one of the iconic Chinese RARITIES of the early 20th century. The elegant obverse design features the imperial dragon surrounded by clouds, while the reverse exhibits finely executed calligraphy. This stunning example offers tremendous lustrous brilliance and no evidence of any handling or wear upon the high points. Some very light cleaning as noted is observed, but does not distract and allows this specimen instead to serve as a tremendous opportunity to acquire an excessively iconic piece.

This large gold issue was created in 1906 by the Ministry of Revenue at the Tientsin Mint during the 32nd year of the reign of Guang Xu. Struck in 98% pure gold on an experimental basis, these pattern-only issues made it into full production. Never released into circulation, the plans to issue gold coinage in units of one Tael for circulation never materialized due to China's lack of gold reserves, along with their de facto adoption of the silver standard.

Estimate: $60000 - $90000