Ultra-Rare Coin With Only 8 Known Examples Sells for $4.88 Million
An extremely rare silver coin, minted during the final era of the Chinese Empire, found a buyer for millions of dollars at an auction in Hong Kong. The coin, known as the 'Short Whiskered Dragon,' is said to have only eight known specimens in the world.
It was printed in the final year of the dynasty.
The full name of the coin is recorded as the 'Hsüant’ung Silver Specimen Pattern ShortWhiskered Dragon Dollar Year 3'. This special coin, minted at the Tientsin Mint in 1911, is said to be part of China's attempts to transition to a modern, uniform currency system.
At that time, the Chinese administration was eager to simplify the various currency systems in use across the country and establish a modern national currency. During this process, under the supervision of Italian engraver Luigi Giorgi, trial designs featuring different dragon motifs were prepared. However, the majority of these did not enter circulation and over time, they transformed into extremely rare collectible items.
Only 8 instances are known.
One of the key factors that makes this coin valuable is the fact that only eight documented examples have made it to the present day. According to Heritage Auctions, only three of these eight are in the hands of private collectors. The piece that was sold at the auction came from the Peh Family Collection.
The coin is referred to as the 'short-mustached dragon' due to the dragon design on it, where the mustache measures approximately 9 millimeters in length. This version, which looks quite distinct compared to the long-mustached dragon designs from the same period, attracted considerable attention from collectors due to its rarity and well-preserved condition. Following the sale, Heritage Auctions announced that this piece is one of the most valuable world coins in their history.
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