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Price Record of Chinese Dollar

An undated Chinese dollar of 1911 set a new hammer price record for a German auction when it sold for 460,000 euros, or about $625,000, Jan. 27 during Künker’s official sale of the World Money Fair in Berlin.

The coin, described in the auction catalog as being “Of utmost rarity, about Brilliant Uncirculated,” carried a pre-sale estimate of 10,000 euros, or about $13,500.

A number of Chinese bidders travelled to the one-day sale, and half a dozen interested parties from the Far East participated by telephone, according to the Osnabruck firm. A physically present bidder claimed the dollar in the end.

With its Chinese characters and depiction of a dragon, the coin appears common to the undiscerning eye. The uncommon element of the 26.89-gram coin is the signature “GIORGI” on the reverse.

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