Coin Graded by NGC Obtains 140,000 euros

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April 17, 2014 – 3,000 examples had been produced of the rare dollar that was offered for sale in Künker sale 246 bearing lot no. 3164. It was an issue for Pei Yang Province or Chihli, as it was formerly called.

The obverse shows Chinese characters. The inscription translates as: ‘Made in the Peiyang machinery mint in the 22nd year of Kuang Hsü, Ta-Ching dynasty”. Kuang Hsü was the powerless emperor who had come to power on 25 February 1875 and on whose behalf his aunt Cixi ruled.

The reverse depicts a dragon that is surrounded by the English legend which repeats the statement of the obverse: TWENTY SECOND YEAR OF KUANG HSU / PEI YANG ARSENAL.

What made this coin special was not its great rarity but its state of preservation. NGC had graded it MS 62, which is the second-highest grade assigned by NGC to an issue of this type. NGC divides “Mint State” into 11 different grades that range from MS 60 to MS 70.

The realized price of 140,000 euros is nearly eight times higher than the US $25,000 value for an Uncirculated example reported by Krause Publications in its Standard Catalog of World Coins.

Numismatic Guaranty Corporation is the world’s largest third-party grading company having graded nearly 30 million coins since it was founded in 1987. The international market leader, NGC guarantees the grade and authenticity of ever coin that it encapsulates. This guarantee, combined with NGC’s accuracy, consistency, and impartiality, gives collectors and dealers greater confidence when bidding at auction.

You can find all results of these auctions on the Künker website.

For more information on NGC go to the company’s website.