The Stack’s Bowers and Ponterio August Hong Kong Showcase Auction is now online and can be viewed here. This week’s preview is a choice coin steeped with rich historical importance. Authorization to establish the Kwangtung mint was granted in 1887, implemented by Viceroy Chang Chi-Tung. In order to modernize the mint, minting machinery, dies, hubs, and other equipment were ordered from the Heaton mint at Birmingham. Upon their arrival in 1888, Kwangtung became the first mint in China to use modern minting machinery. At this time, it mint was the largest mint in the world. Patterns for the first coins were designed by Allan Wyon in the denominations of 1 Dollar, 50 Cents, 20 Cents, and 10 Cents. The first Heaton patterns were later delivered to the Chinese ambassador in London. For some reason, the initial order did not include the 5 Cent piece which was struck later at the Kwangtung mint. The series is referred to by numismatists as the "Reversed Pattern" which refers to the English and Chinese legends which are reversed from what later became standard. Initially, Kwangtung introduced the first coinage with a higher silver value, with the intention of replacing foreign coins circulating within China. The standard of 7 Mace 2 Candareens (Dollar) was raised to 7 Mace 3 Candareens in order to gain public acceptance and replace the Mexican 8 Reales.
The obverse contains four large Chinese characters, which depict "Kuang Hsu Yuan Pao" which means Valuable Coin (from the) Kuang Hsu (regime). In the exact center are found four Manchu characters which denote the same information. The upper legend states "Kwang-Tung Province" and the lower legend provides the weight, 3 Mace And 6 ½ Candareens, which also provides its value of 50 Cents when converted to the Tael system. These upper and lower legends are separated by small rosettes. The reverse of the coin features the distinctive Imperial flying Dragon in center, surrounded by Chinese characters. This upper legend reads: Made in Kwangtung Province. The lower portion states: Treasury scales, 3 Mace and 6 ½ Candareens (denomination/weight). This coin represents the Chinese emerging into modern minting, and is therefore an important piece of Chinese numismatic history.
This coin is significant as it is the first of the modern machine struck silver coins of China. Represented here is the first use of what became the "standard design" for provincial mints, bearing the effigy of a facing dragon. This type became the model for not only the Kwangtung mint, but for all mints in China that adopted the dragon design. The piece offered for sale here is quite rare in that it is actually a circulation strike, most of which were melted down to retrieve the extra silver. It displays gorgeous frosty mint luster accompanied by bountiful almond toning and some champagne hues in the fields. Well struck, the reverse center Manchu characters are all crisp and clear, and there are full scales the entire length of the dragon.
While we are no longer accepting consignments of Chinese and other Asian coins and currency for our August 2018 Hong Kong Showcase Auction, we are accepting consignments for the April 2019 Hong Kong Showcase Auction. In addition, we are taking consignments of world and ancient coins as well as world paper money for our October 2018 Collector’s Choice Online Auction and the January 2019 New York International Auction. If you are interested in consigning your coins and paper currency (whether a whole collection or a single rarity) contact one of our consignment directors.
