拍品描述： 袁世凯像中华帝国洪宪纪元壹圆银样币。飞龙。

CHINA. Silver Dollar Pattern, ND (1916). PCGS SPECIMEN-60 Gold Shield.

L&M-944 (相同模具); K-663b (相同模具); KM-Y-332; Wenchao-1103 (相同模具); WS-羽版未被收录; 上海博物馆施嘉干先生旧藏-pg.122 # 580 ( 相同模具)。齿边，低羽帽，龙刺明显。此异版模具所铸打的钱币鲜少面市，极为稀罕。悠久的拍卖历史中，我们仅曾经手过一次相类的钱币，该枚所使用的模具相同，但乃金质大飞龙（请参阅SBP香港12/15拍卖品编号 60089），银质的同款可说是首次呈献。此特殊的模具配搭别树一格，与常见的（L＆M-942）版别分别如下：羽帽顶部的羽毛于两侧均匀散落，反面的铭文字体风格略有变化，而大飞龙的龙刺更是深峻明显。另一与众不同的特徵是，底板透现类精制镜面的银光效果，而非常见的缎面光泽。虽然银光在淡淡的包浆及因轻手而留下的髮丝痕下若隐若现，此珍品明显经细心保存，状态顶级。举世无双之作，适合一直寻觅瑰宝的资深藏家，定必将集藏提升至全新的高度。有趣的是，美国著名的钱币交易商亨利-查普曼（Henry Chapman）先生曾机缘巧合下获得此版的原始模具，并带到费城铸币厂，在 1921 年铸制了同款钱币。官方的美国造币厂收据显示，当时铸制了 25 枚金币、50枚银币，而我们亦曾经手其中一枚（香港4/12拍卖品编号 20385）。鑑于其稀有性和当中的微妙差异，本品亦有可能是 1921 年在费城铸币局限量生产的钱币，但无任何具体证据，纯属推测。另外，PCGS标示L＆M-942，但遗漏了它与L&M-944使用的是相同的模具。

L&M-944 (same dies); K-663b (same dies); KM-Y-332; Wenchao-1103 (same dies); WS-Unlisted (with plumes); Shanghai Museum-Mr. Shi Jiagans Collection-pg.122#580 (same dies). Variety with reeded edge, low, even plumage, and more pronounced spines on the dragons back. This EXTREMELY RARE die variant seldom appears on the market and is the first one that we can recall seeing or handling as being struck in this composition. In fact, we have only offered this die paring one other time, but that example was struck in gold (see our December 2015 Hong Kong auction, Lot # 60089). This particular die pairing exhibits subtle yet distinct characteristics that differentiate this specimen from its significantly more common counterpart (L&M-942): the base of the plume at the top of the hat is even on both sides, there are minor variations in the calligraphy on the reverse, and one observes more pronounced spines on the dragons back. Another characteristic that stands out and sets it apart is the fact that the fields have a flashy, prooflike appearance instead of the satiny luster normally associated with the issues that bare this design. Though the flashiness is somewhat subdued by an attractive, delicate patina with wispy hairlines from being gently handled long ago, this piece has been given great care attesting to its desirability.

Undoubtedly, it is a coin that is destined for an advanced collection of an expert looking for the substantially more difficult issues to obtain.It is also interesting to note that famous American coin dealer, Mr. Henry Chapman, somehow acquired a set of original dies for this issue and took them to the Philadelphia mint to have examples struck in 1921 (as proved by official US mint receipts that we sold in our April 2012 Hong Kong auction, Lot # 20385). The receipt shows that only 25 examples were struck in gold and another 50 in silver. It is possible, given the incredible rarity and subtle differences, that the present example is, in fact, one of the limited quantities struck at the Philadelphia mint in 1921, but with no concrete evidence, this is purely speculative.Also, the PCGS insert indicates that this is L&M-942, but misses the fact that it was struck with the same dies as the piece plated as L&M-944.

From the Pinnacle Collection.