NGC and PMG Rarities Top Heritage Hong Kong(China) Auctions

Rarities certified by Numismatic Guaranty Corporation (NGC) and Paper Money Guaranty (PMG) topped the Heritage Auction sales in Hong Kong, China(China), held Dec. 5-7, 2018.

Hong Kong(China), National Bank of China Ltd. 5 Dollars, graded PMG Very Fine 30. Realized $138,000. Click image to enlarge.

The multi-day Heritage Auctions sales in Hong Kong(China) started with banknotes, which were dominated by PMG-certified examples. In fact, the top 10 results for single-note lots were achieved by PMG-certified notes.

The highest result was realized by an exceedingly rare Hong Kong(China), National Bank of China Ltd. 5 Dollar note graded PMG 30 Very Fine that sold for $138,000 (USD) (including a 20% buyer's premium). This impressive result was the second-highest price ever paid for a Hong Kong(China) note at auction.

The National Bank of China Ltd. issued notes for a short time and few examples have survived. The PMG 30 Very Fine example dramatically exceeded its pre-sale estimate of $50,000 to $70,000 (before the buyer's premium).

The next best result for a single-note lot in the Heritage Auctions sale came from a Yuan Dynasty 2 Kuan graded PMG 15 Choice Fine NET, which realized $37,200. Dating from the late 13th or early 14th century, the note was printed on mulberry during a time when the Mongols ruled China.

Meanwhile, the top four coins in the Heritage sale were certified by NGC.

These included a 1906 China Kuang-hsü Gold Pattern Kuping Tael (Liang), graded NGC MS 63, which realized $204,000—well above its pre-auction estimate of $130,000 to $150,000. A pattern is a proposed design and/or composition.

Click images to enlarge.

Another NGC-certified Chinese gold coin, struck nearly a century later, realized $186,000. The China 1995 Dragon Boat Proof Gold 500 Yuan graded NGC PF 69 Ultra Cameo is missing its edge number.

Interestingly, this auction revealed the premium that collectors will pay for such a variety. A second China 1995 Gold Dragon Boat Proof Gold 500 Yuan, also graded NGC PF 69 Ultra Cameo, realized $120,000. This example has the number 85 on its edge; the entire mintage was 99.

Finally, a 1907 China Kuang-hsü Gold Pattern Kuping Tael (Liang) graded NGC MS 62 realized $132,000. The coin is similar to the top lot in the auction, though it has smaller clouds. Both are pedigreed to the Zhu H.J. Collection.

The impressive results for NGC-certified coins and PMG-certified notes re-affirm collectors' trust in NGC and PMG for both vintage and modern Chinese numismatics.