1/16/2024 0 Comments Chinese coins 1![]() ![]() The abundance of high-visibility rarities in the Champion Hong Kong Auctions sale, which drew a lot of wealthy bidders to the auction, helped all of the lots, according to Chou. The Compass 2,000-yuan coin does, however, rank as the second most expensive modern Chinese coin sold at auction. 999 fine gold 10,000-yuan coin that Chou purchased for a client for the equivalent of $1,567,190 in U.S. The new record price for a kilogram coin did not top the overall record price for a modern Chinese coin, established earlier this year by a Proof 1991 10-kilogram. In hindsight maybe I should have prepared to bid more,” he said. It was already higher than my maximum bid. ![]() “How many guys are going to pony up at $1 million,” Brown asked rhetorically. His maximum bid, he said, was $900,000 plus the 18 percent buyer’s fee, or $1,062,000, and he thought he could have acquired it for that price, if the opening bid had been $750,000 or $800,000. “I really wanted that coin in the United States, and it didn’t happen.” One bidder was from Singapore, one from Southeast Asia and three from China, with Brown rounding out the bold bidders.īrown confirmed his participation in the auction with Coin World. Nicholas Brown, of Chicago-based Majestic Rarities, was one of six people in the room prepared to pay $1 million or more for the coin, according to Chou, noting that all six bidders had to be pre-approved. funds at the time) in a June auction by Chou’s firm. The Unicorn coin realized 3.91 million Chinese yuan renminbi (about $602,326 in U.S. The Compass coin eclipsed the previous record holder for a 1-kilogram coin, a 1994 Year of the Unicorn coin, according to Chou. Having a mintage suspected at only five pieces, it is the rarest gold kilo coin of China and maybe the rarest of all authorized coinage of China, according to Michael Chou, CEO of iAsure, parent to Champion Hong Kong Auctions. The 2,000-yuan coin, with its depiction of a compass, is part of a series celebrating Chinese inventions and discoveries. 999 fine gold coin, which was graded Proof 69 Ultra Cameo by Numismatic Guaranty Corp. Several lots in the auction reflected the raging market for modern Chinese coins (those pieces dated from 1979 to the present), but the leader was the kilogram. ![]()
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