Hidden Heirloom: Rare Gold ‘Flying Dragon’ Dollar Certified by NGC

Some of the most important numismatic discoveries begin not in auctions or collections, but as family keepsakes. At the American Numismatic Association’s National Money Show, one attendee arrived with a very special coin, one of the most coveted Chinese coins of the early Republic period. Yet the submitter was not a coin collector at all.

She shared the story with us. Her father collected many things, though numismatics was not one of his primary interests. After he passed away a little over ten years ago, she inherited a Chinese gold coin. Suspecting it might be something special, she made many attempts to have the coin authenticated but always came away with inconclusive feedback. She eventually brought it to a local coin shop near her home in Tennessee. The staff were excited to see the coin and felt it was authentic but cautioned that counterfeit examples of this type exist. Their advice was simple: “It needs to be certified by NGC.”

Based on the local dealers’ advice, she decided it was finally time to learn exactly what she had. She and her husband traveled to Savannah, Georgia, specifically to attend the ANA National Money Show. There, she connected with NGC and submitted the coin for grading. Afterward, the couple spent a pleasant day exploring Savannah. The coin, meanwhile, was sent to NGC’s headquarters in Sarasota.

The coin proved to be a gold “Flying Dragon” Dollar struck circa 1916 to commemorate the elevation of Yuan Shih-kai from President of the Republic of China to Emperor under his imperial name, Hung Hsien.

Yuan Shih-kai hoped that establishing a new hereditary Empire of China would stabilize the government and quell opposition. The move proved to be a serious miscalculation. He faced immediate backlash both within China and from international supporters, while his sons argued over the line of succession. Already in poor health, Yuan abdicated after only 83 days, reverting to the title of President until his death three months later.

This commemorative coin was struck in both silver and gold. The reverse features a powerful imperial dragon, a traditional symbol of authority, framed by legends that read “Empire of China” above and “The First Year of Hung Hsien” below.

NGC graded the coin MS 61. It is just one of 17 examples of this catalog number in the NGC Census, and fewer than 100 pieces are believed to exist in gold.

“Discoveries like this are a reminder that important coins can still surface in unexpected places,” said Scott Schechter, NGC Chief Numismatist and Senior Vice President of Grading. “When pieces of this rarity appear, especially outside the traditional collecting community, it highlights the importance of expert authentication and certification.”

The submitter concluded that such an important and historical coin belongs with a dedicated collector who can preserve it as an heirloom for his or her own family. She consigned the coin to Stack’s Bowers Galleries, which is offering it with a pre-auction estimate of $100,000 to $200,000 in the Stack's Bowers Galleries' June 2026 Hong Kong (SAR) Premier Collectors Choice Auction - Session 2 - Chinese Coins Part 2, SAR, Ancients and World Coins Part 1. The auction concludes on June 24, 2026.