Rare Chinese Year of the Dragon coin achieves $106,200 at Baldwin's
Baldwin's auction sees Chinese Year of the Dragon coin achieve $106,200 in Hong Kong
Paul Fraser Collectibles, Tuesday 10 April 2012
An enormous gold coin sold for $106,200 (£67,000) at Baldwin's on April 5, 2012. The coin, weighing over 1kg, featured as part of the auction house's coins, medals and banknotes auction in Hong Kong.
The extravagant coin was produced to mark the Chinese Year of the Dragon and Queen Elizabeth II's Diamond Jubilee in 2012 by The Royal Mint. A British £1000 coin, it is legal tender in the Channel Island of Alderney and therefore, potential future gain is exempt from Capital Gains Tax.
One of only ten pieces in existence, the No. 8 coin was bought by a local Chinese bidder on Thursday. It is thought that the piece is the smallest mintage and largest denomination of any coin produced by The Royal Mint.
The striking design of the piece is similar to that of late 19th century coinage from the Peking and other provincial Chinese mints, and blends elements of British and Chinese coins. It was crafted by Gordon Summers, the Royal Mint's most senior engraver and is made from 0.999 Fine Gold.
The sale also saw other Chinese Year of the Dragon coins selling among a range of examples from around the world. The previous Chinese Year of the Dragon was 2000, with the dragon symbolising power, strength and good luck in Chinese folklore.
Paul Fraser Collectibles is proud to offer customers the chance to buy these very special coins in brilliant mint state. Complete with the beautiful wooden presentation case of issue and a Royal Mint certificate, the item is currently being offered at the reduced price of $90,000 (£56,500).
If you are interested in purchasing this item, or would like further details, please contact us on 0117 933 9500 or email email@example.com. Please see our Coins & Banknotes section for further opportunities, including this rare Italian renaissance coin, of which only five examples are thought to be in existence.
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