China-Shantung 1926 $10 Gold Pattern, Ngc Ms65
CHINA-SHANTUNG 1926 Dragon and Phoenix 10 Dollars Gold Pattern, L&M1066, KM Pn7, K1536, NGC MS65. This coin and the matching $20, feature on the obverse the dragon and phoenix design used on the 1923 silver dollar. Little is known of these extremely rare patterns, which were probably struck at the Tientsin Mint, where other coins with the dragon and phoenix design were produced during the 1920's. As Kann notes, the coins were issued under the warlord, Chang Tsung-ch'ang (Zhang Zongchang), who was military governor of Shantung from April 1925 till 1928. When Kann's collection came up for auction in 1971, it contained two examples of each value - an uncirculated version and a proof version. Given how rarely these two coins appear in auction, we estimate that less than ten examples of each value exist today. An NGC MS63 (10 dollars) sold for USD 89,625 in HK 2011 August auction and an NGC MS64 (20 dollars) sold for USD 179,250 in HK August auction.