UK-made dragon coin to be auctioned in HK
Updated: 2012-03-15 01:13
By Cecily Liu (chinadaily.com.cn)
Year of the Dragon commemorative coin commissioned by Baldwin’s/ provided to China Daily
London - A one kilogram gold coin featuring the Chinese dragon and manufactured by the UK’s official coin manufacturer Royal Mint will be auctioned in Hong Kong next month.
Commemorating the Chinese year of the dragon and the British Queen’s diamond Jubilee, the coin is commissioned by Baldwin’s, a subsidiary of the London-based numismatic investment firm Noble Investments.
“This is the first year we’ve commissioned a Royal Mint coin with a Chinese zodiac design, and I think the dragon is an obvious start,” said Ian Goldbart, managing director of Baldwin’s, adding that Baldwin’s may commission future Chinese zodiac coins if the dragon coin sells well.
The coin shows a dragon created by Royal Mint’s most senior engraver Gordon Summers, and on the reverse a portrait of Queen Elizabeth.
Although Baldwin’s commissioned 10 such coins, it will only be auctioning its first one at the Hong Kong Coin Auction on April 5, at the Holiday Inn hotel in Kowloon, Hong Kong.
Baldwin’s pre-sale estimate for the coin is $100,000-120,000.
Goldbart said that the highest bidder for the coin may come from China.
The coin is legal tender in Alderney, the third largest of the British Channel Islands.
Together with its Hong Kong partner firm Ma Tak Wo, Baldwin’s will be selling 1094 items including a large selection of Chinese and Hong Kong banknotes, Sycee and world coins, with an aggregate value of a few million dollars.
Baldwin’s started having annual auctions in Hong Kong 20 years ago, but the aggregate value of items auctioned has grown by about 20 times. Five years ago, Baldwin’s started having bi-annual auctions in Hong Kong, and sells a few million dollar worth of items at each auction.
Zhang Chunyan contributed to the story.