Following the success of the April Hong Kong Coin Auction, which saw Baldwin’s auction department and Ma Tak Wo Numismatic Co. Ltd weather the ‘economic tsunami’ by achieving exceptional results, (the majority of lots selling at over 10 times their lower estimate) this Hong Kong offering looks set to do much the same with a well rounded catalogue of Coins, Banknotes, Orders and Decorations.

For the very first time Baldwin’s and Ma Tak Wo will be featuring a selection of postage stamps. The 44 lots include a superb example of the 1840 Penny Black, estimate US$250-350 and a stunning 1921 $100 stamp from the Malaysian Straits Settlements, estimate US$7,000-8,000. This move into the stamp arena hails the diversification of the group into the philatelic industry and they are hoping for a positive response to this offering which will allow for future growth.

The sale starts with a very fine 14th century 1-Kuan Chinese banknote of the Ming Dynasty. From the China Empire the 1-Kuan notes are arguably the oldest pieces of world paper money, printed on grey Mulberry bark which was reportedly recycled from the waste of government ministries and Civil Service examination papers. With 239 lots, the banknote section includes items from many parts of Asia, including a very strong offering from India which has recently become very popular. Lots 173 and 175, two Specimen 5-Rupee notes from the Government of India, both with an estimate of US$12,000-15,000, are of special interest.

The group of Orders and Decorations is one of the best of its type seen at auction in many years and the auctioneers are certain that it is unlikely there will be another opportunity to buy examples like this for a long time. Included in this group is a stunning medal of the Order of the Double Dragon, awarded for outstanding services to the throne of the Emperor of China and founded by Guangzu in 1882. The award came is 5 classes, this particular piece being grade 3 of class 1, awarded to high Chinese Noble Officials, Cabinet Ministers, Ambassadors and top ranking Chinese and Foreign military and navel officers. It has been kept in superb condition which is reflected in the estimate of US$40,000-50,000. Another highlight is lot 330, a lovely example of the very rare Air Force Order of Rejuvenation, estimate US$4,000-4,500. This first class breast badge was the top order of the Chinese Nationalist Airforce and the recipient had to have served at least 900 hours of flight time, shot down 9 enemy airplanes and been on 300 missions to qualify. (more…)

The following appeared in a German publication called the Local

A Dresden real estate investor and his partner have raised €7 million ( @$9.8 Million US) worth of gold, silver and other artifacts from a sunken pirate ship off the coast of Borneo, daily Bild reported Wednesday.

The pirate ship Forbes sank off the coast of Borneo in 1806. Dresden resident Martin Wenzel and his partner Klaus Keppler spent €3 million of their own money over the past two years trawling the tropical waters for loot from the Forbes and other vessels, the newspaper reported.

“Up until now, we’ve searched 35 wrecks, two had valuable cargo. Now the costs for our three salvage ships, 50 man crew, the licences and all that, are covered,” Wenzel told Bild.

The haul from the Forbes turned up 1.5 tonnes of silver coins, gold jewellery, cannons, crystal and Ming porcelain. The newspaper reported that the coins alone are worth at least €7 million.

“At first, everything on the ocean floor looks encrusted and worthless. But when you hold the treasure in your hands, it’s an indescribable rush of adrenaline. You’re witness to times past,” Wenzel told Bild.

Wenzel flies to Indonesia six times a year to keep track of the salvage operations. His partner Keppler is there permanently. Wenzel said his next trip is already booked.

“We’ve found clues in shipping archives about a wreck off of East Timor that had two tonnes of gold on board,” Wenzel said. “But we don’t yet have the salvage license. They are extremely expensive and the political situation there is difficult.”

A wide selection of rare ancient and world coins will be offered in Bowers and Merena’s Official Auction of the American Numismatic Association World’s Fair of Money® at the Los Angeles Convention Center and online, August 2 – 8, 2009. Ponterio & Associates, Inc., a division of Bowers and Merena, will present the world sessions on Saturday, August 8.

One of the many highlights among the over 1,300 lots of desirable and appealing world coins is a Japanese undated (1860 – 1862) Manen oban (10 Ryo, 112.26 gms) with security edge (Fr. 7; JNDA-09-11; C24a2) in Extremely Fine condition.

“This is a beautiful specimen,” said Richard Ponterio, executive vice president of Bowers and Merena. “This Manen oban is the only type that was produced using machinery. Prior to this type obans were hand made. The use of obans halted shortly after the time of Commandore Perry forcing Japan to open its trade with the west in the mid 1800s.” (www.BowersandMerena.com).

Two other marquee coins in the ANA auction are a rare Year 3 (1911) “Long Whisker Dragon” Tientsin Mint China Pattern Dollar (L&M-28; Kann-223; KM-Pn-304), graded NGC AU-58, and a Macedonia Mende silver Tetradrachm (16.88 gms) ca. 425 B.C.

“This was struck from the same dies as described in the Noe-ANS Monogram #27 of 1926, “The Mende (Kaliandra) Hoard #70. It has a well struck reverse and nice metal quality with full border on the obverse. It depicts Dionysos ‘Bacchus’ the god of wine and grapes holding a cup of wine while reclining on a donkey,” explained Ponterio. (more…)