Asian Coins Break Records at Auction

Some of the rarest coins from Asia and beyond crossed the auction block in Professional Coin Grading Service (www.PCGS.com) holders during the April Hong Kong Auction held by Stack’s Bowers Galleries. Many of the coins hail from the world-famous Pinnacle Collection, and numerous lots took six- and seven-figure sums during Session B trading on April 6, 2021.

Among the top-selling lots that crossed the block are several that broke world records. These include the PCGS SP64 1928 China Silver Dollar Pattern, Year 17 (1928), which surpassed its presale estimate of $150,000 to $250,000 by many multiples to realize $2,280,000 – a world-record price for a Chinese coin.

Eclipsing past records for Japanese coinage was a Hishi Oban (10 Ryo), ND Tensho Era (Ca. 1588) graded PCGS MS60; this outstandingly rare first Japan Oban claimed $1,920,000, or more than double its presale estimate of $700,000 to $900,000. An eight-piece pattern set from Year 3 (1870) also broke records when the coins – all graded PCGS SP66 or higher – collectively took $1,560,000 to become the most valuable modern Japanese coin set to trade hands at auction.

Other highlights include a Year 3 (1911) Silver Long-Whisker Dragon Dollar Pattern graded PCGS SP64 that trounced presale estimates beyond a factor of four to fetch $1,020,000. Meanwhile, a unique Philippines-Mexico 8 Escudos from 1834-37 representing the Empire of Iturbide snagged $180,000 to set a world-record price for a Filipino coin.

“House records were shattered, and world records were created,” remarks Brian Kendrella, president of Stack’s Bowers Galleries. “It’s amazing to see the excitement in the coin industry right now – hammer prices like these at our April Hong Kong Auction speak to the market’s depth and strength.”

“We have seen incredibly bullish market activity for United States coinage these past months and are thrilled that Asian coins performing just as robustly. Good things are ahead for our hobby, and we are excited that our PCGS offices in Shanghai and Hong Kong are serving numismatists in Asia as the hobby continues growing by leaps and bounds there,” says Brett Charville, president of PCGS.