Author: Stack's Bowers Galleries / October 11, 2021

Costa Mesa, CA (October 11, 2021) -- Stack's Bowers and Ponterio is pleased to announce that extremely rare and recently identified numismatic treasures will be auctioned at their Hong Kong Collectors Choice Online Auction, December 1-3, 2021. The first is a stunning Empire Dollar (L&M-11; KM-Y-14) from 1908, graded SPECIMEN-64+ by PCGS. These immensely popular dollars attract significant collector excitement when found in Mint State. In Specimen quality they are nearly unheard of, this being only the second that PCGS has graded and the first to ever appear on the market. Displaying reflective fields and incredible blue toning, this coin offers a level of refinement not present on standard circulation strikes. Alongside this incredible rarity will be featured the lone PCGS certified Specimen-quality Year 34 (1908) Provincial Dollar from Chihli (Pei Yang) (L&M-465; KM-Y-73.2). The offered example is graded SPECIMEN-64 by PCGS and offers quality and beautiful toning that is similar to the Empire Dollar.​
Little is known about the past ownership of these magnificent items, with the only record found being a pedigree tying them to a December 7-8, 1973, Lester Merkin auction of "Foreign Gold and Silver Coins." In that sale both were graded as "Gem Unc", with the Chihli issue in lot 226, and the Empire Dollar in lot 228. Considering their great rarity, it is hard to fault Merkin for not identifying them as presentation pieces; however, his awarding of the sparingly used "Gem Unc, conveys his opinion of their quality. Off the market since that time, their appearance in the December Hong Kong Collectors Choice Auction, properly attributed and described, will mark the first time in nearly a half century that these coins will be available to the general public.
As with any such special numismatic piece, there remains a question as to why these special strikes were produced in the first place? Were they show pieces or samples? Were they gifts to a politician or dignitary? While any answer is merely informed speculation, what is not speculation is the history surrounding these coins. At the turn of the 20th century, China, having been ruled by the Qing Dynasty since 1644, was losing ground in the race for Asian hegemony to the rapidly industrializing Japan. The Boxer rebellion failed in its attempt to evict all foreigners from China, and the imperial rule that had held sway over China for two millennia began to crumble. The death of the Guangxu Emperor, the symbolic ruler of China, in 1908 was the beginning of the end for the Qing dynasty. The next day, the de facto ruler of China, the Empress Dowager Cixi, died, throwing China into a succession crisis. Two-year-old Puyi, nephew of the Guangxu Emperor, was appointed as emperor, though his abdication would be forced less than three years later, before he officially took the throne. War followed, and conflict for China—in one fashion or another—never fully ceased until the end of the Chinese Civil War in 1949. 
These dollars tell the story of an Empire at a crossroads and are historical gems that are worthy of a museum. Both survived the collapse of the Qing Dynasty, the Warlord Era, the Chinese Civil War, and the Second-Sino Japanese War in pristine condition. They are among the many highlights from the upcoming December Hong Kong Collectors Choice Online Auction that features a wide array of Chinese and Asian coins and banknotes. This online auction, presented from December 1-3, is sure to attract the attention of all those interested in Asian Numismatics, and will be the capstone of a milestone year of world coin auctions presented by Stack's Bowers and Ponterio.
 
CHINA. Chihli (Pei Yang). 7 Mace 2 Candareens (Dollar), Year 34 (1908). PCGS SPECIMEN-64. 
 


02_CHINA. 7 Mace 2 Candareens (Dollar), ND (1908). Tientsin Mint. PCGS SPECIMEN-64+.
 
About Stack's Bowers Galleries​
Stack's Bowers Galleries conducts live, Internet and specialized auctions of rare U.S. and world coins and currency and ancient coins, as well as direct sales through retail and wholesale channels. The company's 85-year legacy includes the cataloging and sale of many of the most valuable United States coin and currency collections to ever cross an auction block — The D. Brent Pogue Collection, The John J. Ford, Jr. Collection, The Louis E. Eliasberg, Sr. Collection, The Harry W. Bass, Jr. Collection, The Joel R. Anderson Collection, The Norweb Collection, The Cardinal Collection and The Battle Born Collection — to name just a few. World coin and currency collections include The Pinnacle Collection, The Louis E. Eliasberg, Sr. Collection of World Gold Coins, The Kroisos Collection, The Alicia and Sidney Belzberg Collection, The Wa She Wong Collection, and The Thos. H. Law Collection.
The company is headquartered in Costa Mesa, California, with offices in New York, Wolfeboro, Hong Kong, and Paris. Stack's Bowers Galleries is an Official Auctioneer for several important numismatic conventions, including American Numismatic Association events, the New York International Numismatic Convention, the Whitman Coin & Collectibles Spring, Summer and Winter Expos, and its April and August Hong Kong Auctions.