Going for Gold (and Silver) at Hong Kong Auctions

Hong Kong plays host to a spring showcase of rare East Asian coins, with highlights from China, Japan, the Philippines, and more.

Hong Kong served as the backdrop for two spring showcases of rare East Asian coins.

The first to take place was Heritage Auction’s “Hong Kong Spring World Coins Showcase,” on April 6. Occurring annually, the auction sold a curated selection of ancient and contemporary coins from nations such as China, the Philippines, Great Britain, and Japan.

Among the coins of note at the auction, which realized $835,428, was a near-choice MS62 NGC, Kann-B27 “Empress Dowager” fantasy dollar. Struck near the Sichuan-Tibet border in China, this c. 1908 silver fantasy dollar portrays the iconic Empress Dowager Ci Xi (Tzu Hsi). The coin’s design also replicates the reverse of Tibetan trade rupees from the early 20th century. The coin earned a $9,900 winning bid.

One of the best-selling coins at Heritage Auction’s event sold for $36,000 and featured a well-known figure in Chinese culture: the rabbit. The 12-ounce gold-proof 1987 “Year of the Rabbit” SM PR68 Ultra Cameo NGC coin originates from the Singapore Mint’s “Lunar New Year” series, which shows a wild rabbit caught mid-hop.

Heritage Auctions wasn’t the only auction house to earn high bids at its Hong Kong sales. “Rarities Night” of Stack’s Bowers Galleries, Hong Kong (SAR) Showcase Auction, on April 7, showcased hard-to-find Chinese coins. A featured listing of the yearly auction was a very rare “Mukden Tiger” 1928 silver dollar pattern from the Tientsin Mint that earned over $1 million. The coin features on the obverse a precise depiction of Manchurian warlord Chang Tso-lin, nicknamed the “Mukden Tiger,” and the Five-Colored Flag of the Republic on the reverse. The coin’s grand winning bid is no surprise; besides its rarity and historical and cultural importance, its grading is an exceptional PCGS SPECIMEN-64. According to Stack’s Bowers, only five examples have been graded finer at PCGS.

Although not earning millions, an exceedingly rare, nearly-choice PCGS SPECIMEN-62 gold 1906 K’uping tael pattern coin by the Tientsin Mint was awarded an impressive $528,000. The 98% gold issue is from Ch’ing-dominated China and was never circulated due to the country’s low gold reserves at the time.

For more information about Heritage Auction’s April 6 event, visit the website. Go to stacksbowers.com to learn more about Stack’s Bowers Galleries' April 7, 2025, auction.