CHINA-HONG KONG 1867 Shanghai Pattern Tael w/Rays

CHINA-HONG KONG 1867 Shanghai Silver Pattern Tael With Rays, Kann 912, NGC PF65. Though inscribed with both Shanghai and Hong Kong, this coin was not intended for circulation in either place, but was to be a national coinage for use throughout China. Hong Kong in this case was simply a mintmark, and Shanghai indicated that it was struck to the standard of the Shanghai tael. According to Joe Cribb's book, Money In The Bank, the recently built Hong Kong Mint was too large for the needs of Hong Kong alone, so the mint attempted to obtain a coinage contract from the Chinese government for a silver dollar or tael. The dollar patterns and a tael pattern with Queen Victoria's portrait were rejected, so the mint produced a new tael pattern with a Chinese dragon on the obverse (Kann 911 and 912). This too was rejected, not because of the British Order of the Garter design, which the Chinese probably didn't recognize, but because China simply was not interested in a silver coinage. The highest graded Shanghai Tael certified by NGC or PCGS. 2008 Lin Catalog US$170,000. An example of this coin sold for RMB1,078,000 in a November 2008 Beijing Auction. In June 2008 Champion Hong Kong Auction a Shanghai Silver Tael without Rays(PF64) sold for US $195,500.

NGC PF65