NGC-certified 1889 Dragon Dollar Realizes $228,000 at Hong Kong, China Sale

A vintage Chinese coin graded by Numismatic Guaranty Corporation® (NGC®) realized $228,000 (USD) at Heritage Auctions’ HKINF World Coins & Ancient Coins Signature Auction in late June 2019.

This 1889 Silver Dragon Dollar graded NGC MS 64+ had an estimate of $80,000 to $120,000 (USD). It realized $228,000. Click images to enlarge.

The 1889 Dragon Dollar graded NGC MS 64+ far exceeded its pre-auction estimate of $80,000 to $120,000. As the finest-graded Mint State example, it was the centerpiece of a four-coin group from the Henderson Lincoln Collection. The other coins — all high-grade examples from the same year — were:

• A 50 Cents graded NGC MS 65+ that realized $90,000 (USD).
• A 20 Cents graded NGC MS 64+ that realized $30,000 (USD).
• A 10 Cents graded NGC MS 62 that realized $18,000 (USD).

The coins were all struck at the Kwangtung Mint, China’s first with modern machinery. It was the world’s largest when it began producing coins in 1888.

In the auction, the coins with the top nine prices realized were all NGC-certified. They cover more than a century of Chinese coinage, from two of the vintage Kwangtung coins to a 1995 Dragon Boat 5-ounce Gold 500 Yuan graded NGC MS 61 that realized $108,000 (USD).

Other notable NGC-graded coins in the auction included:

• A 1914 China Silver Dollar graded NGC MS 61 that realized $132,000 (USD), well above its preauction estimate of $50,000 to $80,000 (USD).
• A 1907 China Gold Tael graded NGC MS 61 that realized $114,000 (USD).
• A 1993 China Two Peacocks 5-ounce Gold 500 Yuan graded NGC PF 69 Ultra Cameo that realized $66,000 (USD).
• A 1908 China Kirin Silver Dollar graded NGC AU 50 that realized $42,000 (USD).
• An 1880 China Fantasy Gold 25 Taels graded NGC MS 63 that realized $40,800 (USD).
• A 1921 China Silver Dollar graded NGC MS 65 that realized $38,400 (USD).

All estimates provided by the auction house. Prices realized include buyer’s premium.