News from Spink

Unique Hong Kong Proof Consigned For Coinex Auction

The unique 1868 Hong Kong Proof Set is to be offered in Spink’s auction during COINEX week. The set of five silver coins was acquired in Hong Kong over 100 years ago by the present owner’s family in the course of business in the former British Colony, and the coins have never been on the open market. Until now the very existence of such a set has not even been rumoured . It is a remarkable and totally unexpected appearance of a sensational set of coins.

Proof Dollar, 1868, crowned head of Queen Victoria left, VICTORIA above, QUEEN below in Chinese scroll pattern border, reverse, labyrinth encircled by four compartments containing Chinese characters HSIANG CHIANG 1 YUAN and HONG KONG ONE DOLLAR 1868, all within Chinese scroll pattern border, edge milled, 26.81g. (KM.10; Pr.-), a few very light marks, has been cleaned, otherwise extremely fine, very rare.

Proof Half-Dollar, 1868, obverse similar to the Dollar, reverse, legend reads HSIAN CHIANG PAN YUAN and HONG KONG HALF DOLLAR 1868, edge millad, 13.46g. (KM.8; Pr.-, note p.281), hairlines, has been cleaned, extremely fine, extremely rare, only the second example to have been offered at auction.

Proof 20-Cents, 1868, crowned head of Queen Victoria left, similar to the Dollar and Half0Dollar but without the decorated border, reverse, four Chinese characters HSIAN CHIANG ERH HAO within beaded circle, HONG KONG TWENTY CENTS 1868 around, edge milled, 5.36g. (KM.7; Pr.19A), has been cleaned, lightly toned, extremely fine, rare.

Proof 10-Cents, 1868, crowned ‘Gothic’ bust of Queen Victoria left, QUEEN VICTORIA around, reverse, four Chinese characters HSIANG CHIANG 1 HAO within beaded border, HONG KONG TEN CENTS 1868 around, edge milled, 2.68g. (KM.6.3; Pr.-), cleaned, lightly toned, extremely fine, very rare.

Proof 5-Cents, 1868, crowned head similar to the 20-Cents, reverse, four Chinese characters HSIANG CHIANG WU HSIEN within beaded circle, HONG KONG FIVE CENTS 1868 around, edge milled, 1.38g. (KM.-; Pr.-), extremely fine, light patchy and spotty toning, extremely rare.

The set is in a contemporary small fitted case. The proof Dollar is not listed by Pridmore and there was no example in the Goodman collection sold at auction by Superior Stamp and Coin, 28-29 May 1995.

The Half-Dollar is not listed at all by Pridmore for 1868. He notes ‘Several reports claim that a half dollar dated 1868 exists, but such a coin has not been traced.’ There is one Proof Half-Dollar in a private collection in the U.S.A. The coin was formerly in the Irving Goodman collection, lot 836 and sold for US$109,250. A footnote in the Goodman catalogue states ‘possibly one other example exists in a museum.’

Pridmore lists a Proof 20-Cents for 1868 but there was no Proof of the date in the Goodman collection.

Pridmore does not list a Proof for either the 10-Cents or the 5-Cents 1868, and there were no Proof examples of either coin in the Goodman collection.

The Hong Kong Mint, located on Sugar Street in Causeway Bay, was opened in 1866. The local merchants however were reluctant to accept the new Hong Kong Dollars, preferring the more familiar Mexican 8-Reales, and the mint operated at a loss. After less than three years in operation the mint closed in 1868. The machinery was sold to Jardine Matheson who in turn sold it to the Japanese Government for their new mint at Osaka. The Hong Kong Dollar was discontinued, and small silver coins for Hong Kong were subsequently struck in London and Birmingham.

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