NGC Certifies Million-dollar Chinese Coins
Posted on 10/7/2013
SARASOTA, Fla. (October 7, 2013) – Numismatic Guaranty Corporation® (NGC®) has certified two important Chinese gold coins valued at well over US $1 million each. The coins, a 1992 Seismograph Gold 2,000 Yuan and a 1992 Compass Gold 2,000 Yuan, were submitted by iAsure Taipei, NGC’s Official Submission Center in Taiwan, and will be sold at auction in December.
Part of the China Mint’s popular Inventions and Discoveries Series, the one kilogram gold coins had a maximum mintage of only 10 specimens each and are among the most desirable of all Chinese modern issues. The matching pair have the serial number “10” punched on their edges and are graded NGC PF 69 Ultra Cameo.
Numismatic Conservation Services® (NCS®), an affiliate of NGC, professionally conserved the coins prior to NGC grading and encapsulation. The world’s first professional coin conservation company, NCS was founded in 2001 and has since conserved more than 500,000 coins valued at nearly US $1 billion, including pieces from several historic shipwrecks, the Smithsonian Institution, and other museums around the world.
NCS conservation removes harmful surface contaminants, improves a coin’s eye appeal, and stabilizes the surfaces for long-term preservation. Many modern Chinese coins benefit from NCS conservation because they were originally sold in packaging that contained polyvinyl chloride (PVC), a plastic that can damage a coin’s surfaces over time.
Champion Auction, an affiliate of iAsure Group, will sell the two coins in its Winter Online Sale, held in December. The coins are anticipated to easily break the elusive US $1 million barrier. A 1992 Compass Gold 2,000 Yuan (serial number 6), also graded NGC PF 69 Ultra Cameo, was last sold by Champion Auction on August 28, 2011 for a record US $1.298 million.
“The sale of a matching pair of Chinese gold one kilo coins is a historic opportunity for collectors. NGC assigned its coveted NGC PF 69 Ultra Cameo grade, which ranks these coins among the world’s greatest numismatic rarities,” says Michael Chou, CEO of iAsure Taipei and Champion Auction. “Certification by NGC will give collectors the confidence to spend record sums on these coins. NGC is the only grading company I use because of the integrity of their grading team, their accurate and consistent grading, and the comprehensive NGC Guarantee that backs every coin. The conservation work by NCS is unparalleled and together with the museum-quality NGC holder offers further assurance of the long-term protection of these coins.”
The coins were submitted to NGC as its iAsure Taipei Official Submission Center expands its presence in Taiwan to coincide with NGC’s rapid growth throughout Asia. In the next few months iAsure Taipei will open street-level offices that will better facilitate submissions to NGC as well as its affiliated companies NCS and Paper Money Guaranty® (PMG®).
NGC CEO Steve Eichenbaum adds: “Our expansion in Asia has allowed us to see some truly outstanding pieces. Only two Chinese coins have previously sold for more than US $1 million at auction, and both were certified by NGC. We are very grateful for the enthusiastic support that we have received from the Chinese numismatic community."
The coins will be on display at the Champion Auction booth A21 at the Beijing International Coin Expo, October 11-13. For more information about the Champion Auction Winter Online Sale, contact Champion Auction Taipei, First Floor Room 51,163 Nan-King, West Road, Taipei, Taiwan. Telephone (02)2555-1761 or 0920630566. Email firstname.lastname@example.org or email@example.com.