Rare Chinese coin to fetch more than $1 Million at Heritage Auctions
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Rare Chinese coin to fetch more than $1 Million at Heritage Auctions

Rare Chinese coin to fetch more than $1 Million at Heritage Auctions

1910 Chinese Dragon Dollar may fetch $1 million at Heritage Auctions

For the coin collectors who love to invest in rare coins, this is your chance to own one of the 2 rarest Chinese coins. We have earlier reported that Heritage’s September Long Beach World Coin Auction will offer a range of luxurious collector’s items. This auction is going to be the largest ever and will feature some remarkably rare coins, and is expected to fetch around $500,000. The auction made news few days back when three Korean numismatic rarities were said to be the part of this auction. These are expected to fetch $1.5m or more alone. Now, the same auction has offered a rare 1910 Chinese Dragon Dollar that could bring more than $1 million.

The coin has been extensively researched, graded and certified with AU58 by the Numismatic Guaranty Corporation (NGC). Also, it is known that there are only two same coins in existence. The first coin was sold at an auction in Beijing in 2002, and then resold in 2007 for $468,000. In 2010, it was sold again for $1,035,000. The piece that Heritage is offering is the second known example of the same.

As stated by Warren Tucker, Vice President of World Coins at Heritage,

“This enigmatic issue is one of China's rarest coins, with only two genuine pieces known; it’s been a coin of mystery and legend since its discovery around 1920. Despite near constant research in Chinese numismatics, time has yielded no definite reason or meaning for the term Spring 1910.”

The Heritage will auction more than 5,000 ancient coin lots, and the bidding on the coins will open online in mid-August. Chinese coins are the favorites for the rare coin collectors. An expert coin collector, Lim predicts that China’s ancient gold coins could be a savvy investment, and he's selling millions of dollars worth of his existing coin and note collection as a result.

It is said that Chinese coin collectors prefer their coins to be worn, heavily toned, or even corroded as the discoloration, pitting and marking, that shows the life within the coin. Therefore, all the coins at the auction are heavily toned and worn out.

Headed by Steve Ivy, Jim Halperin and Greg Rohan, Heritage Auctions is the world's third largest auction house with annual sales of more than $700 millions, and 600,000+ online bidder members. Rare coin collectors may also go through our list of World’s most expensive coins.

Via: Art Daily

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