The iconic "Yuan Shikai Dollar": Decoding the L. Giorgi signed version, the three-quarter face version, and the legendary sample coin worth over ten million!
Paragraph 1: The Yuan Shikai Dollar – From Main Circulating Coin to Pattern Coin: A Legendary Stories
The "Yuan Datou" silver dollar, officially named the "Portrait of Yuan Shikai, President of the Republic of China" silver coin, was issued in 1914 (the third year of the Republic of China). It was the main currency issued by the Beiyang government after the promulgation of the "National Currency Regulations" to unify the chaotic currency system. Its minting technology reached the world's first-class level at the time and has extremely high historical and cultural research value.
However, when you see news reports or auction houses selling "Yuan Shikai silver dollars" for millions or even tens of millions of Hong Kong dollars, you must understand a core fact: these exorbitantly priced collectibles are by no means the ordinary circulating versions you often see in your home. They are extremely rare **"sample trial mints"** (Pattern Coins).
Second paragraph: What is a "sample casting"? The secret behind its vastly different value.
"Sample coins" refer to small-scale prototypes produced by the mint before the official issuance of circulating coins to confirm the design, materials, and quality. These sample coins are usually minted in quantities ranging from a few to a few dozen pieces and have extremely high commemorative and collectible value.
There is a huge price difference between sample coins and regular circulating coins, often tens or even hundreds of times. Their rarity stems from their extremely low mintage and the fact that they were never circulated, allowing them to be preserved in excellent condition. In Chinese numismatic circles, sample coins represent the pinnacle of collectible value.
Third paragraph: L. Giorgi signed version – an elite totem of Chinese machine-made coins
Among all the Yuan Shikai silver dollar pattern coins, the most iconic and legendary is undoubtedly the 1914 Yuan Shikai portrait L. Giorgi signed version .
- The Glory of the Italian Engraver: What makes this specimen coin unique is the vertical line of English letters **"L.GioRGi" or the abbreviation "LG"** engraved behind the right shoulder strap of Yuan Shikai's portrait. This is the initials of Luigi Giorgi, the chief engraver at the Tianjin Mint at the time, an Italian engraver who was responsible for engraving the steel molds for the Yuan Shikai silver dollar.
- Extremely rare specimen: The "signed version" was a trial strike and did not circulate in the market. It is estimated that only a little over a thousand were trial-struck. Due to its extremely limited quantity, it is hailed as an "elite totem" and "important key" in the Chinese coin series.
- Sky-high prices at auctions: A 1914 ( Republic of China Year 3) L. Giorgi signed proof coin, graded MS 61 by NGC, had an initial bid of US$50,000 (approximately HK$390,000) at auction, with estimates typically ranging from US$50,000 to US$80,000, demonstrating its extremely high market value. These rare items are the true protagonists of the "million-dollar" (or even higher) Yuan Shikai silver dollars reported in the news.
Paragraph 4: The Market Myths of "Seven-Point Face" and "Elderly Version"
Closely related to the signed version of the sample coin are the "three-quarter face" or "elderly version" often mentioned in the collecting world.
- Unissued designs: According to historical records, before the sample coins bearing Yuan Shikai's portrait were submitted to the Chief Executive for selection of circulating versions, the mint may have produced several designs, with only a dozen to twenty pieces of each possible. Some of the unselected designs, such as the "three-quarter face" or "elderly version," are also classified as rare trial coins.
- High-quality counterfeits flood the black market: Due to their high value, counterfeits of these rare coins are rampant in the market. For example, a Yuan Shikai silver coin with a three-quarter profile once fetched 3.01 million yuan at an auction (this should be RMB, but the value is still astonishing). However, at the same time, "high-quality counterfeits" made from real silver are also flooding the market.
- Challenges in authentication: Experts point out that although counterfeit seven-tenths face silver coins have a high silver purity, their edge teeth (edge cutting) often cannot match the fineness and smoothness of genuine proof coins. Furthermore, genuine proof coins, because they were presented to high-ranking officials for appraisal, are in excellent condition and rarely show signs of circulation wear or dirt. All of this requires a very high level of expertise to discern the details during authentication.
Paragraph 5: Other rare Yuan Shikai silver dollar sample coins
Besides the L. Giorgi signed version, the Tianjin Mint also produced other extremely rare non-circulating sample coins, which are also highly collectible.
- "T"-shaped edge and Eagle-shaped edge: The obverse and reverse designs of these two types of pattern coins are similar to those of the ordinary "Yuan Shikai Dollar," but the only difference lies in the edge design, which is either a "T"-shaped edge or an edge resembling an Eagle Dollar. Both types are trial coins and are extremely rare.
- Rare and Special Varieties: Even among circulating coins, some extremely rare varieties are considered "dark horses" in the collecting world, with prices far exceeding those of common versions. Examples include the **"O-mark version" with an "O" hidden within the grain sheaf design , the "triangular circle" version with a triangle inside the character "圆" (circle) , and the scarce **"Gansu-added-character version"**. These rare varieties often fetch several to dozens of times the price of common versions.
Paragraph 6: Professional Advice and Monetization Strategies from Ancient and Modern Treasure Appraisers and Recyclers
For any collector, when faced with valuable proof coins, the most important thing is to avoid "turning a Yuan Shikai silver dollar into a sucker".
Currently, even counterfeit silver coins made from genuine silver are rampant in the market. These counterfeits are almost indistinguishable from the real thing in terms of weight and silver content, making them difficult to identify by ordinary means such as listening to the sound or weighing. Professional authentication relies on experts' extensive experience in judging the color, texture, detail of the "natural patina," and micro-engraved marks on coins.
Our expert coin appraisers have cultivated deep expertise in the Hong Kong market for many years, possessing profound knowledge of various Yuan Shikai silver dollars, Qing Dynasty dragon dollars, and global machine-struck coins, as well as their identification techniques. We are committed to providing fair, transparent, and professional evaluations for your valuable collections, ensuring that your "treasures of time" can be safely realized at the highest market value.
[Price Reference and Hong Kong Dollar Conversion Instructions]
In top international coin auctions, the estimated value of rare pattern coins is usually denominated in US dollars. For example, an NGC MS 61 pattern coin with Yuan Shikai's portrait and L. Giorgi's signature could be estimated at $50,000-$80,000 USD.
When appraising antiques for the past , we will refer to the latest transaction prices in the international market and convert them into Hong Kong dollars according to the exchange rate of the day for transaction settlement, so as to ensure that you get the highest possible buyback price.
(Please note: The accurate Hong Kong dollar price needs to be calculated based on the real-time exchange rate of the day. We will strictly follow the exchange rate of the day in actual transactions.)
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【Important Reminder】Do not clean, bump, or scratch silver coins yourself. The natural patina is their "second life" and the source of their value. Remember, condition is king!
