Chinese dragon coin should be a roaring $97,000 success at Spink’s auction
Numismatists are in for a treat this coming Wednesday as a fine collection goes on sale
A large number of brilliant rare coins are going under the hammer at specialist auction house Spink, in London, starting this Wednesday, June 22 and continuing on Thursday, June 24.
Among the lots is an incredibly rare and intricate Chinese patterned Kuping Tael, depicting a dragon surrounded by clouds on its face, and on the reverse side stating the value, date and the words ‘Ta Ching Gold Coin’.
Used as currency during the reign of Emperor Kuang-hsu, it is expected to sell for between £40,000-60,000 ($64,636-96,955).
What’s interesting is that a similar coin was sold by Heritage Auctions in Dallas two years ago – for just $19,550. Such a large increase in value certainly suggests that collecting coins makes a great alternative investment.
However it is not the only fine lot in the sale, as also included is an extremely rare silver coin dating back to 1840, released under Ernest Augustus I, King of Hanover.
Proudly bearing the Coat of Arms of the House of Hanover, which incidentally is the same as that of Britain because of the close links between the two, it has been given a value of £10,000-15,000 ($16,162-24,243).
This is still a great time to get involved in the coin collectibles market, as the value of precious metals, especially gold and silver, has risen dramatically during the last few years as their rarity increases.
A good example of this is the Elizabeth I sovereign which is estimated to sell for between £15,000-20,000 ($24,243-32,321).
The exact same coin was valued at £4,000-5,000 ($6,464-8,080), just six years ago, when it appeared in another Spink sale.
With its brilliant detail and history, there’s every reason to believe it will go up in value yet again. Spending your cash on coins could get a great return on your money in both the short and long-term.