Skip to main content
Go to accessibility options

    Description

    Extraordinarily Rare "P'u" Year 26 Pattern Sun Yat-sen Dollar

    Republic Sun Yat-sen silver Specimen Pattern Dollar Year 26 (1937)-S SP63 PCGS, San Francisco mint, KM-Pn185, L&M-117, Kann-636, Chang-CH210 (Most Extremely Rare), Shanghai Museum-730, Shi Jiagan Collection-632, WS-0156, Wenchao-934 (rarity 4 stars). By all metrics an extraordinarily rare Pattern, missing even from such famous collections as those of Goodman, Jacobs, and Wa She Wong, with perhaps only an extraordinarily small handful having occurred on auction in the last several decades. In the course of our research, we have been able to locate a mere four other examples: Baldwin's Auction 58 (April 2015, Lot 628), Baldwin's Auction 48 (February 2010, Lot 506), ChengXuan Autumn Auction (November 2006, Lot 2851 [part]), and Henry Christensen Sesquicentennial Sale (December 1981, Lot 160 [reportedly ex. Kann]). One of only 2 certified at PCGS, with none yet seen by NGC, this extremely handsome issue contains an even satin finish to the fields, accentuating its crisp execution, while darkened toning accents given a sharp visual pop to the obverse features.

    The type features the P'u (ancient spade coin) motif on the reverse that would become the trademark of this so-called "universal" series of the late Republic. According to official records, on July 27, 1936, the Chinese Ministry of Finance elected to utilize 3 million ounces of fine silver held in the United States on account of China to mint silver Dollars. These were meant to be a token coinage with a lesser intrinsic silver value, containing only 0.720 fineness, with the initial batch produced comprising around 10 million coins. Though dated to 1936 (Year 25), the shipment did not arrive in Hong Kong until after the outbreak of the Sino-Japanese War in August 1937. Wright suggests that it is likely that contemporary circumstances thus militated against further experiments into the currency, and most of the issue was subsequently withdrawn and melted down. While the design ultimately proved successful in that it was adopted for a subsidiary coinage of 20, 10, and 5 cents from January 1936, the place of the present Pattern is much more uncertain. Kann supposes that some of these pieces may have been struck in Shanghai from master dies produced in San Francisco, though admittedly the coins he refers to lack the tiny S mintmark at the base of the reverse. Wright's article on the Mint of Shanghai makes no explicit reference to the S-signed Patterns either.

    From the Glorium Collection


    NOTE: This lot was manufactured in China and was sourced from outside the United States for this auction after September 1, 2019. Under the new US tariffs on Chinese goods, collector's items from China will be subject to a 7.5% import tariff. Any clients who wish to take delivery of this item in the United States should be aware of this added charge, and consult their tax adviser with any questions.

    極珍罕民國二十六年孫像「布幣」壹圓銀樣幣

    民國二十六年(1937-S)孫中山像「布幣」壹圓銀樣幣。SP63 PCGS。
    三藩市造幣厰。珍稀度四星。不論款式品相均卓爾不群的珍品。耿愛德、黃華樞、古爾曼及諾曼雅格斯博士等名家俱未有集藏此款式。過去數十年的拍賣記錄亦屈指可數,敝司僅能找到四例。NGC從未入評記錄,PCGS只有兩枚入評,此爲其一。此品狀態無可挑剔,底板平整而順滑如絲,令浮雕更見銳利,加上深色包漿勾勒輪廓,層次分明。

    背面有布幣圖案,乃這系列民國晚期銀幣的標識。根據官方記錄,中華民國財政部在1936年7月27日動用當時在美國的三百萬盎司純銀儲備鑄幣。按計劃,這批銀幣含銀量較低,僅0.720,鑄幣約一千萬枚。這批銀於民國二十五年(1936)自美國批出,卻在1937年8月抗日戰爭爆發後才運抵香港。Wright推斷由於當時中國内外政局不穩,試行新錢幣并非當務之急,因而延誤船期。實際上,該批銀幣及後大都被回收或熔掉。這款布幣設計十分成功,以後1936年1月出產之廿分、拾分及伍分均循此設計。唯此「壹圓樣幣」之身世則未明。耿愛德提出這批樣幣或在上海鑄造,所用模具為三藩市造。但此說中的模具與沒有背面下方小S字,款式與此品并不吻合。Wright在著作中亦未有明言這款S字樣幣,耐人尋味。
    出自:The Glorium集藏




    View Certification Details from PCGS

    Auction Info

    Auction Dates
    December, 2021
    11th-13th Saturday-Monday
    Bids + Registered Phone Bidders: 39
    Lot Tracking Activity: N/A
    Page Views: 1,481

    Buyer's Premium per Lot:
    20% of the successful bid (minimum $29) per lot.

    Sold on Dec 11, 2021 for: Sign-in or Join (free & quick)
    Track Item