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Lot
23653

China: People's Republic 10kg gold 100000 Yuan 2008,...

2011 January New York Signature World & Ancient Coins Auction #3012

 
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Auction Ended On: Jan 2, 2011
Item Activity: 2 Internet/mail/phone bidders
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Location: Waldorf Astoria
301 Park Avenue
New York, NY 10022
Description:
Massive 10kg Beijing Olympics gold 100000 Yuan
People's Republic 10kg gold 100000 Yuan 2008, KM1842, Gem Proof. In original plastic holder with ornate wooden presentation box, COA (#21), gold plaque and marble statuette. Struck to commemorate the first Olympic Games in China, the XXIX Olympiad in Beijing. The obverse features the title of PRC, the common year date "2008", decorative design of the Chinese ancient bronze ware and the colored emblem of the Games. The obverse presents a contrast between proof, mirrorlike surfaces and the frosted finish of the reliefs. The reverse features a myriad of sporting events in the foreground, with the Temple of Heaven in Beijing and dragons in the clouds. The coin itself is awe-inspiring and the display case only adds to the allure. Crafted from African Blackwood and finished with intricately carved Chinese ornamentation, this is a masterpiece in its own right crowned by a Chinese dragon carved from Shousan stone, the national stone of China. The art of Shousan stone carving traces as far back as the Ming Dynasty, when the carvings were used to create royal seals.
With a maximum mintage of 29 pieces, the Beijing Olympic 100000 Yuan is one of the world's largest issued gold coins with 10 kilograms of pure 24K gold (.9999), that's 321.17 ounces. Out of the only 29 pieces minted, 7 were for export out of China and the piece here (#21) was the only one officially allocated to the US market in 2008.
Due to the recent surge in gold prices, an adjustment to the estimate of this lot was necessary.

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