China, Republic, Chang Tso-lin (Zhang Zuolin) Gold 50 Yuan (1927) SP64+ PCGS Secure Plus
Lot 500
China, Republic, Chang Tso-lin (Zhang Zuolin) Gold 50 Yuan (1927) SP64+ PCGS Secure Plus
Sold for HK$ 4,100,000 (US$ 528,842) inc. premium
Lot Details
The Property of a Lady
A historically important 'Zhang Zuolin' 50 Yuan gold coin
Republican period, dated 1927
Minted in pure gold, one side featuring a portrait of the warlord in full military attire within scrolling borders, the reverse with an official emblem flanked by a phoenix and a dragon on each sides, with inscriptions at the top and bottom spaced by floral sprays.
2.8cm diam.


  • Provenance 來源:
    Zhang Zuolin (1875-1928), Warlord of Manchuria from 1916-1928
    Zhang Xueliang, the 'Young Marshall' (1901-2001)
    Raymond Chang (Zhang), eldest son of Zhang Xueliang, father of the current owner

    The inscription reads and translates as:

    16th year of the Republic of China, 50 Yuan

    This coin is an important historical relic of the Warlord Era in early 20th century China, the finest known example of a Zhang Zuolin 50 Yuan gold piece. One of only two known, this has been consigned for sale by the direct descendants of the famous Chinese warlord portrayed on the obverse of the coin. This rarity has endured an arduous journey from China to Great Britain during the Second World War era, before finally arriving at the United States, where it has remained since the late 1940s/early 1950s. Recently graded SP64+ by PCGS, the quality of this lot is unparalleled and as a specimen striking is arguably the finest known and essentially unique example of its kind.

    The coin was minted in Tianjin 1927. At that time, Zhang controlled Tianjin and Beijing between 1926 and 1928, where the Tianjin Mint struck four silver dollars, two copper patterns for 20 Yuan and 40 Yuan gold coins and this exceedingly rare 50 Yuan gold piece. None were adopted for general circulation and are now considered pattern issues. This coin is one of only two known examples, and much finer in appearance than the other known example. It is the highest denomination coin in gold (or any other metal) issued by the Republic of China, and probably the single rarest Chinese coin of the Republican era.

    The surfaces present a remarkable, deeply mirrored finish with nicely contrasting devices and a high, sharp wire edge is seen on each side. For pedigree purposes, three tiny die depressions are seen in the obverse field to the right of Zhang's portrait.

    民國 張作霖中華民國十六年伍拾圓純金硬幣


    張作霖(1875 - 1928)
    張學良(1901 - 2001)

    該金幣1927年铸造,為當今存世品相最佳之張作霖五十元金幣,非常稀世罕見,是目前僅存之兩枚該款式樣幣其中之一枚。此枚金幣在第二次世界大戰期間被帶到英國,於1940年代末或1950年代初攜至美國收藏至今,從始至終一直由張作霖家族後裔親自保存。此金幣最近被世界PCGS 專業錢幣評級權威評為 SP64 等級之樣幣,非但絕無僅有,且保存狀況乃現今世上最為完整,實屬稀世之寶。

    金幣正面有張作霖戎裝像,背面則見龍鳳圖案,並刻有「伍拾圓」及「中華民國十六年」字樣。金幣表面光亮、反差明顯,邊緣線狀紋路清晰。正面人 像右方有三粒幣模不規則所形成之「痱子」,可用於判辨真偽。另右臉頰上有微小刮痕,八字鬍及外圍反面十點方向有若干金屬色斑。放大後可見到正反兩面背景部 分有若干鑄造模具所產生之縱向拋光線。

    1926 至 1928 年間,張作霖掌控北京與天津。天津造幣廠當時出產了銀元四款、二十元及四十元金幣之銅樣各一款,及此極度罕見的五十元金幣。這些錢幣當時並未流通,今歸類為特製樣幣。香港邦瀚斯本次呈現的張作霖五十元金幣乃現今世界上僅存的兩枚其中之一,且保存品相遠勝於不久前賣出的另一枚。此幣乃中華民國政府所發行的硬幣中價值最高者,也是現今世上最為罕見的一枚民國時期金幣。