Issuu

CHAMPION LIVEAUCTIONEERS Sunday November 29, 2026

Sofitel Macau at Ponte 16 Rua do Visconde Paco de Arcos Macau, 6/F Promenade

澳門索菲特酒店六樓會議室

www.youtube.com/@championghka

www.cghka.cn

2026.11.29 冠軍澳門 30 周年拍賣會

網絡同步拍賣：https://www.liveauctioneers.com/catalog/431965

0買家傭金

1897 年江南省造光緒元寶庫平七錢二分銀幣，老江南，人字邊，PCGS MS62+，張南琛收藏起拍價：200,000 美元

光緒二十四年（1898 年）安徽省造光緒元寶庫平七錢二分銀幣，扁“四”小星花版，PCGS MS65+，席德柄 / 張南琛收藏起拍價：150,000 美元

光緒二十四年（1898 年）安徽省造光緒元寶庫平七錢二分銀幣，A.S.T.C. 版高四，PCGS MS64+，席德柄 / 張南琛收藏起拍價：100,000 美元

1932 年中華民國二十一年孫中山像背帆船三鳥壹圓銅質樣幣，PCGS SP 55 起拍價：10,000 美元

1912 年四川仙鶴 / 牡丹十文紅銅代幣，滿穿，PCGS Genuine - AU Details，邊緣修補起拍價：10,000 美元

1361 年明代大中通寶，折三，背上“濟”，32.6*1.8mm，8.1g， GBCA 美 82。錢文清晰，包漿渾厚，存世罕少，名家遞藏起拍價：600 美元

澳門辦公室 Macau Office 聯繫我們

澳門羅理基博士大馬路 600E 第一國際商業中心 1 樓 P105 室電話：853-68666901 郵箱：jeanzg1994@163.com 郵箱：yvan799@outlook.com

臺北店鋪 Taipei Store

大同區南京西路 163 號 1 樓 50 室手機：886-903937338 郵箱：championghka@gmail.com

香港店鋪 Hong Kong Store

九龍旺角砵蘭街 169-173 號好旺角商場 219 室手機：852-61650618 郵箱：championghka@gmail.com

5 6 7 8-9 10 11 12-142

Programme 摘要

Important 重要條款

Foreword 前言

Terms of Sale 銷售條款

Instruction for Mail Bidders 郵寄競投須知 Liveauctioneers 注冊幫助

2026 Chinese Dragon Silver Bullion Coins、Chinese Ancient Coins、Chinese Vintage Coins、Modern Coins &

World Coins（2026 年中國龍銀幣、中國古錢、中國機製幣、現代幣 & 世界幣）

Category | 分類

2026 Chinese Dragon Silver Bullion Coin（2026 年中國龍銀幣）

Chinese Ancient Coins（中國古錢）

Chinese Vintage Coins（中國機製幣）

Lots | 拍品號

001 080 180

Modern Coins & World Coins（現代幣 & 世界幣）

280

As we are one of the leading dealers in East Asian numismatics. Champion has attended over 30 conventions and auctions annually in Asia, Europe, and the U.S. to buy and sell world coins. Collectors please send us your want lists. We are ready to assist you in the formation and location of items for your collection. We also serve as representatives for bidders at auction. When you are thinking of selling, we can assist in the appraisal and sale of your numismatic holdings for market value. Please contact us at our Shanghai office by email, phone, fax, letter, or meet us at conventions.

Hong Kong

Macau

Champion Hong Kong Store (appointment only)

Champion Auction Macau Office

Flat/Rm219, 2/F Ho Mongkok Shopping

AV. DR. Rodrigo Rodrigues. 600E-P105 First International

Centre, No.169-173 Portland Street

Com. Center, Macau

Mongkok Kowloon, Hong Kong

Tel: 853-68666901

Tel: 852-61650618

Fax: 853-2830 4772

E-mail: championghka@gmail.com

Japan

Taiwan

iAsure Japan K.K.

Champion Auction Taipei Office (appointment only)

Computec Ichigaya Building 3F. 2-20 Honmuracho Ichigaya,

First Floor Room 50, 163 Nan King West Road,

Shinjuku, Japan 162-0845

Taipei, Taiwan, Republic of China

Tel: 03-5225-7017

Cell: 886-0903937338

Fax: 03-5225-7105

Email: championghka@gmail.com

拍賣地點

Venue

澳門內港巴素打爾古街

6/F Promenade, Sofitel Macau at Ponte 16

澳門十六浦索菲特酒店六樓 Promenade

Rua do Visconde Paco de Arcos Macau

拍賣時間

Time of Sale

11 月 29 日 10:00 2026 年中國龍銀幣、古錢

November 29 10:00 2026 Chinese Dragon Silver Bullion Coins、 Ancient Coins

13:30 中國機製幣、現代幣 & 世界幣

13:30 Chinese Vintage Coins、Modern Coins &World Coins

臺北 / 澳門活動

Viewing in Taipei/Macau

11 月 14 日 13:00-17:00⸺ 預展

November 14 13:00 - 17:00⸺ Preview

臺北福君錢幣在線拍賣辦公室

Taipei Fuchin Coin Online Auction Office

臺北市中正區開封街一段 2 號 6 樓 11 室

Rm. 11, 6/F, No. 2, Kaifeng St., Zhongzheng District, Taipei

11 月 27 日 10:00-18:00⸺ 預展

November 27 10:00 - 18:00⸺ Preview

澳門十六浦索菲特酒店六樓百家樂宴會廳

6/F Baccara, Sofitel Macau at Ponte 16

11 月 28 日 10:00-17:00⸺ 預展

November 28 10:00 - 17:00⸺ Preview

澳門十六浦索菲特酒店六樓百家樂宴會廳

6/F Baccara, Sofitel Macau at Ponte 16

11 月 29 日 09:00-13:00⸺ 預展

November 29 09:00 - 13:00⸺ Preview

澳門十六浦索菲特酒店六樓 Boardroom

6/F Boardroom, Sofitel Macau at Ponte 16

取貨

Pick up

11 月 30 日 09:00-12:00

November 30 09:00 - 12:00

澳門十六浦索菲特酒店六樓 Boardroom

6/F Boardroom, Sofitel Macau at Ponte 16

澳門內港巴素打爾古街

Rua do Visconde Paco de Arcos Macau

www.cghka.cn

網上預展

www.coinsky.com

https://issuu.com/jean-digital

http://data.shouxi.com/company_auction.php?id=28

Lot Videos ( 拍品視頻）：https://v.kuaishou.com/7EN91zx5

11/29 網上拍賣：https://www.liveauctioneers.com/catalog/431965 Please contact us for other viewing arrangement. 如需安排特別預覽時間，請與我們聯繫。

AUCTIONEER CHAMPION AUCTION CATALOGUE PRODUCTION

Michael H.Chou Bruce W. Smith Dr. Tseng Che Lu (consultant) Chou Chien Fu (consultant) Ron Guth (consultant) 5

自 2019 年 9 月 1 日起，美國對中國內地原產的所有收藏品徵收新關稅，當中包括金條、錢幣及紙幣。此拍品於中國製造，並在關稅頒佈後從美國境外徵集以進行拍賣。因此，任何希望在美國境內提貨及交付的客戶均將被徵收 7.5% 的進口關稅加 0.3464% 的

手續費（於編輯圖錄之時，手續費最低 33.58 美元 / 最高 651.50 美元，金額可能有變動）。這不是（亦無意成為）適用進口關稅的

完整描述，買方應承擔全部責任，並同意立即支付這些物品進口到美國所產生的關稅和相關費用。本公司及委託人沒有責任支付任何適用的關稅或費用。如有任何疑問，請諮詢閣下的稅務顧問。

此外，任何需要徵收進口關稅的貨物均將直接從本公司的澳門辦事處發貨，而運送往美國的貨物將受本公司的國際運輸價目表約束。

IMPORTANT ITEMS On September 1, 2019, the United States enacted new tariffs on collector items of Chinese origin, including bullion and numismatic coins and banknotes. This lot was manufactured in China and was sourced from outside the United States for this auction after the tariffs were enacted. Accordingly, any client who wishes to take delivery of this item within the United States will be subject to a 7.5% import tariff plus a processing fee of 0.3464% (minimum $33.58/ maximum $ 610.50), at time of printing and subject to change. Please note, this is not, and is not intended to be, a complete description of the applicable import tariffs and buyer remains fully liable for and agrees to promptly pay all tariffs and fees relating to the import of these items into the United States and neither the auctioneer nor any consignor will have any responsibility to pay any applicable tariffs of fees. Please consult your tax adviser with any questions. Furthermore, any lots subject to an import tariff will be shipped directly from our Macau offices and shipments to the United States will be subject to our international shipping chart.

2026 Champion Auction Catalog Is Available At:

您可以在以下地址獲得 2026 年冠軍拍賣目錄 :

Hong Kong: Champion Store Rm. 219, 2/F Ho Mongkok Shopping Centre, No.169-173 Portland St. Mongkok Kowloon Tel: 852-61650618 Email: championghka@gmail.com

香港：冠軍店鋪九龍旺角砵蘭街 169-173 號好旺角商場 219 室電話：852-61650618 郵箱：championghka@gmail.com

Singapore: Funan Stamp & Coin Agencyt 101 Upper Cross Street #B1_17L People Park Centre Tel: +65 96387225、+65 98793237

新加坡 : 福南郵票錢鈔社 101 克羅士街上段珍珠大廈 17 號 101 電話：+65 96387225、+65 98793237

Taiwan: Fu Chin Stamp and Coin Store Room 11, 6/F, No. 2, Kaifeng Street, Zhongzheng District, Taipei City Tel: 886-02-23121393 WeChat: 15801853485

臺灣 : 福君郵幣社臺北市中正區開封街一段 2 號 6 樓 11 室電話：886-02-23121393 微信：15801853485

Macau: Champion Macau Office AV. DR. Rodrigo Rodrigues. 600E-P105 First International Com. Center, Macau Tel：(853) 2833 4556 Fax：(853) 2830 4772 Email: yvan799@outlook.com

澳門 : 冠軍澳門辦公室中國澳門羅理基博士大馬路 600E-1 樓 P105 室電話：(853) 2833 4556 傳真：(853) 2830 4772 郵箱：yvan799@outlook.com

Welcome to the 2026 Champion 30th Anniversary Auction with no buyer's commission. This auction begins with the charity auction of Chinese Dragon Silver Bullion Coin City Cards, with all proceeds donated to the Hong Kong Uplift Educational Charity Foundation. The 2025 Chinese Dragon Silver Coin not only took the global coin collecting market by storm, but also won the "Best Crown Coin" category award and the most prestigious "Coin of the Year" award in 2026, achieving a historic breakthrough for modern Chinese coins. Highlights of this charity auction include 12 sets of 2026 Chinese Dragon Silver Coin City Cards with full sets of auspicious numbers (Berlin, Singapore, Hong Kong, Tokyo, Pittsburgh, Paris, Kuala Lumpur, and Macau). In addition, 2025 Macau City Cards that were allocated through lottery but never claimed—specifically those whose owners opted for Macau pickup yet failed to collect them before the deadline—will also be included as charity auction lots. In addition, there will be regular auctions of 2025 City Card sets with matching numbers across all six cities, and 2026 City Card sets with matching numbers across all eight cities. In the ancient coins section, we are honored to present 8 lots of knife coins from the Bowker / Fang Yao-yu collection, with clear provenance and distinguished pedigree. Also on offer are numerous ancient coins from the Zhang Shuxun (Nai-chi Chang) Collection and from a senior overseas collector. In the vintage coins section, the greatest highlight is from the Nelson Chang Collection. Nelson Chang began building the NC Collection in the mid1970s, focusing on Chinese vintage coins of the finest condition and greatest rarity. At Champion's May 2021 Macau auction, which featured only slightly more than one hundred lots in total, the 60-plus Chinese vintage coins from the NC Collection not only set multiple auction records for their respective types, but also drove the overall total to a then-record high of over US$30 million. The highlight lot of this sale is an 1898 Anhwei Silver Dollar, with flat “four” and small rosette, PCGS MS 65+. This example is from the Turpin Hsi/NC Collection, with a starting price of US$150,000. Many of Anhwei silver coins from the Nelson Chang’s collection came from his father-inlaw, Turpin Hsi, former director of the Shanghai Central Mint. Also offered in the same sale is an 1898 Anhwei Silver Dollar, A.S.T.C. variety, with high "four", from the Turpin Hsi/NC Collection, PCGS MS 64+. It is a great opportunity to acquire this fine Anhwei dragon silver coin, with a starting price of US$100,000. Also featured is an 1897 Old Kiangnan Silver Dollar, herringbone edge, PCGS MS 62+, from the NC Collection, with a starting bid of US$200,000. The Old Kiangnan was struck in the early days of the Kiangnan Mint and is among the most sought-after varieties of Kiangnan dragon dollar. The Szechuan horse tokens from the NC Collection will also appear in this sale. Most of his horse tokens were purchased from the renowned Hong Kong coin dealer Chang Huang, and at the 1991 Goodman Collection auction he acquired 3 thick, uniface examples, all of which are offered here, each accompanied by his handwritten envelope, with clear provenance and distinguished pedigree. In the world coins section, we will present aluminum pattern coins from the BWS Collection, including several rare UAE aluminum patterns. The auction also offer a unique opportunity to acquie the 1866 5-cent pattern from two of the most famous collections in the history of American numismatics—those of Louis E. Eliasberg and Bob R. Simpson. We wish all collectors every success in finding their pieces of interest at this auction. Michael Chou Champion Auction 歡迎光臨2026年冠軍30周年無買家傭金拍賣。

本次拍賣從中國龍銀幣城市卡的慈善拍賣開始，慈善拍賣收入所得將被捐贈至香港向上遊教育基金。2025版中國龍銀幣不僅席捲全球錢幣收

藏市場，更在2026年世界硬幣大獎賽上斬獲“年度最佳克朗幣”單項獎，並一舉奪得最具分量的“年度最佳硬幣”大獎，實現中國現代錢幣

的歷史性突破。本次慈善拍賣的亮點包括12組2026年中國龍銀幣城市卡全套吉祥號（柏林、新加坡、香港、東京、匹茲堡、巴黎、吉隆玻、

澳門）。此外，通過抽籤分配但未被領取的2025澳門城市卡（選擇在澳門提貨卻逾期未取的份額），也將納入慈善拍賣的標的。常規拍賣部分，則有2025年六同號城市卡和2026年八同號城市卡。

古錢部分，我們榮幸呈獻8項來自包克與方藥雨舊藏的刀幣，來源清晰，傳承有序。此外，還有來自張叔馴舊藏及一位海外資深藏家的諸多古錢藏品；機制幣部分，本次拍賣最大的亮點是出自張南琛收藏的珍品。張南琛先生自20世紀70年代中期開始建立 NC 收藏，專注於品相最佳

且最為珍稀的中國機制幣。在冠軍2021年5月舉辦的澳門拍賣會上，全場僅設一百餘項拍品，其中出自張南琛舊藏的60餘枚中國機制幣，不僅多枚刷新同品類拍賣紀錄，更推動整場總成交價創下當時的歷史新高，逾3千萬美元。本場領銜拍品為1898年（光緒）二十四年安徽省造光緒

元寶庫平七錢二分銀幣，扁四小星花版，PCGS MS 65+。此枚為席德柄 / 張南琛收藏，起拍價150,000美元。張南琛的許多安徽銀幣收藏來自

其岳父⸺ 原上海中央造幣廠廠長席德柄。同場另有1898年二十四年安徽省造光緒元寶庫平七錢二分銀幣，A.S.T.C. 版高四，席德柄 / 張南琛收藏，PCGS MS 64+，本次拍賣是將這枚好品相的安徽龍銀收入囊中的難得機遇，起拍價100,000美元。此外，1897年無紀年江南省造光緒

元寶庫平七錢二分銀幣，人字邊，日“省”版，習稱“老江南”，PCGS MS 62+，張南琛收藏，起拍價200,000美元。老江南為江南造幣廠開辦之初所鑄，是江南龍銀中最受青睞的版本之一。張南琛舊藏馬蘭幣亦將亮相本場。他的四川馬蘭幣大多購自香港著名幣商張璜，他還在1991

年古德曼舊藏拍賣上購得了3枚加厚單面的馬蘭幣，且均附有其手寫信封，來源清晰，傳承有序；世界幣部分，我們將呈現 BWS 舊藏鋁質樣幣，其中包含多枚稀有的阿聯酋鋁質樣幣。

本次拍賣還有一枚1866 年美國5分樣幣，這是擁有一枚出自美國錢幣收藏史上最著名兩大收藏―⸺ 路易斯埃裏亞斯伯格與鮑勃辛普森―⸺ 的樣幣的難得機會。

我們預祝各位藏家在本次拍賣會上覓得心儀之品。

●

周邁可

冠軍拍賣

1. This auction sale is conducted pursuant to the terms of sale

Requests for returns must be made within three days after the

by CHAMPION AUCTION, an iAsure Company.

receipt of the lot(s). Late remittance for any reason is just cause

2. Each bidder, by bidding in the sale agrees that a 5%

to negate all return privileges. If a lot is to be returned, it must

BUYER'S CHARGE for online bids and 0% for other bids will

be housed in the original, completely intact, sealed holder.

be added to the winning bid of each lot. The BUYER'S FEE

12. Lots are sold with all faults, imperfections and errors of

will be added to the invoice of each successful bidder over and

description. Neither the sale firm nor the seller shall give any

above the actual sum bid or offered. Auction sales are strictly

warranty to any buyer in respect of any lot, or be liable for

for cash and must be paid for promptly in U.S. funds.

any fault or error of description, or a lack of genuineness or

3. All estimates are in US Dollars. All bids should be made to

authenticity of any lot.

the nearest Multiple of US $5 or US $10.

13. Except as otherwise expressly stated in the terms of the sale,

4. All lots will be sold to the highest bidder.

CHAMPION and its agents and employees make no warranties

5. We reserve the right to refuse or reject any bids.

or guaranties or representations, and expressly disclaim all

6. All lots are put up for sale subject to any reserve price that

warranties and guaranties and representations, including,

may be imposed by the seller. The seller could be entitled to

without limitation, a warranty of merchantability, in connection

bid and withdraw any lot or lots either personally or though the

with any numismatic properties sold by CHAMPION.

sales firm.

14. All oral and written statements made by CHAMPION,

7. In the event of identical mail bids for the same lot, the lot will

are statements of opinion only, and are not warranties or

be awarded to the first bid received.

representation of any kind, unless stated as a specific written

8. Successful bidders will be notified and sent an invoice for the

warranty. The sales firm reserves the right in forming his

lots awarded to them. Postage and insurance will be added to

opinion, to consult and rely upon any expert or authority

all invoices ($5 minimum). All lots will be sent via registered

considered by him to be reliable. If any lot should be proved by

air. The insurance and risk of loss for all lots shipped outside

the buyer to be a forgery or re-print, or to have been wrongly

of Macau are the responsibility of the successful bidder. It is

described in any material respect, the buyer may reject the

agreed by bidding in this sale that CHAMPION will not he held

same, provided that he shall have given notice of his intention

responsible if the lots are lost in the mails. For all mail bidders,

to do so and shall have returned the same lot the auctioneer

at the time the items are turned over to the postal service, RISK

within (14) days from the day of sale. Under no circumstances

OF LOSS IS ON THE BUYER.

will the sales firm be liable for any costs, expenses or damages

9. CHAMPION is not responsible for your errors in bidding.

incurred by the buyer in respect of any lot, including, but not

PLEASE CHECK YOUR BID SHEET AND BID ON THE

limited to, loss of any kind of profits whatsoever. Bidders are

CORRECT LOT.

advised to scrutinize the lots they bid for.

10. All bidders are required to established credit references

15. CHAMPION assumes no risk, liability or responsibility for

or submit a deposit of 25% of their bids. The deposit will

the material (or other) facts stated concerning the numismatic

be applied to purchases, and any overage will be refunded.

item, except as specified herein.

CHAMPION reserves the right to require payment in full

16. In these conditions, the sales firm means CHAMPION

before delivering lots to a successful bidder.

AUCTION.

11. Auction sales are not approval sales. You must assume the responsibility for paying for all lots that are successfully awarded to you. All purchases shall be paid in full within Three (3) days of the sale date. The sales firm reserves the right to charge interest on any overdue payment at the rate of two-andhalf percent (2 1/2%) per month. No lots may be returned by mail bidders without our written permission.

1. 總則：此系公開拍賣及郵遞競投。所有拍賣品以價高者得

協議，拍賣三十日以後不受理任何退貨。在未經研究的領域內，

拍賣品。拍賣中如有任何爭議，拍賣人有最終裁決權。未成

的標明，如買家對此置疑，並要求退貨，不予受理。

為原則。本公司有權接受或拒絕任何競投，並有權撤銷任何年人不得參加此次拍賣。

2. 預展日程：預展日程詳情，請參閱目錄第三頁。網上競標請

https://www.liveauctioneers. 於11月27前注冊登記，拍賣網址： com/catalog/431965。委託競標請於11月27日前發電子郵件至

championghka@gmail.com。我們懇切建議儘早提送委託要求，以免貽誤競投。

3. 現場競投：現場競投將從名列第二的郵遞競投價格價10%

開始。如果現場競標價不超過最高郵遞競投價，則競投者可以開價價格或現場最高叫價購買。換言之，郵遞競投者在沒有現場競爭者的條件下可以自動降低其競買價格。

4. 投標押金：對於初次競投人，務請填寫相關的參考資料。并需交投標金額25% 的押金。此押金將用於支付競投，否則會及時寄還，我們保留要求付清全部金額再予郵送的權利。

5. 購買費：購買費網上為落槌價的5%，其它為落槌價的0%，

購買費將附加在所有成功的投標者（郵遞或現場競投均包括在內）的發票上。

6. 退貨規則：所有現場銷售都是決定性的。競投人有責任付

清不論以何種方式競投成功的全部拍賣品的售價。本公司對拍賣品之品種及等級極為關注以力求保證其為真品。本公司建議買家在拍賣前對於購物品審查過目或委託可以過目的代

理人。拍賣人樂於與競投人審查拍賣品或簡短地回答郵遞投

其物品各項指標難保精確完整。按照已出版的參數資料所作 7. 關於確保真品：鑑於偽品極為常見及為鼓勵收藏者建立信心，拍賣人和目錄編寫者對每一物品都詳加審查。任何略有

疑問的物品都送呈至少一位專家予以鑑定。為此，顧客若因

物品真偽而要求退貨者，必須出示在此領域內所公認的專家之鑑定意見及有關此專家的資歷證明。本次拍賣中的贗品及近

世仿製品都在目錄中有明確標示。對有疑問的拍賣品在目錄中亦有注明。

8. 付款：拍賣結算以美元為單位。除非事先另有安排，買家在收到結算三日內應寄出匯款。在大多數情況下，過期利息以月二厘半計算。拍賣者因追索買家欠款而支出的追索費、法律訴訟費由買家負擔。產權證明將在付款結清之後發出。

9. 郵遞：鑑於拍賣直至規定時間方能結束，拍賣人將郵競投成功者所購商品。買家只須付實際郵費及掛號費。競投者應指明其選擇的郵寄方式。我們建議大批量的買家在時間允許

的條件下於每次拍賣後提取貨物。現場買家如要求立即提貨，必須先付款，除非提前協議，我們將在時間允許的條件下儘量解決。

10. 競投者寄送的委託書，必須有其簽字。此委託書表明競投人同意上述各項條款。

11. 本條款以英文本為准。

標人的問題。退貨必須在收到拍賣品三日之內而且必須申述正當之理由。實際退貨須有待拍賣人之同意。除非事先另有

William D. Craig, Coins of the World, 3rd Edition, Racine, Wisconsin, 1976

E. Kann, Illustrated Catalog of Chinese Coins (Gold, Silver, Nickel, and Aluminum.) Los Angeles, 1956)

Kim KNDA catalog 1993.

Krause and Mishler, Standard Catalog of World Coins, 2 Volume, Iola, 1985.

Alfred Pick. Standard Catalog of Paper Money, 2 Volume, Iola, Wisconsin 1995.

Albert Schroeder (Annam), Etudes Numismatiques, 2 Volumes, Paris, 1905.

R.S. Yeomen, Modern World Coins, 1950-1964, 13th Edition. Fort Lee, 1984.

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faster we suggest sending by Fax. Telephone bids can be accepted,

bidder over and above the actual sum or bid.

but have to be confirmed in writing.

6. Please give details on the form of delivery of lot or lots.

2. All estimates are in US Dollars, and all bids should be to the

Payment must be made before lots are dispatched.

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7. Auction Preview Schedule is shown on page 3 of the

marked down to the nearest actual bid by the auctioneer. No "Buy"

catalog For online bidding, please register at: https://www.

or "Unlimited" bids will be accepted.

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1. Payment should be made in United States Dollars in the form

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名及想競標的金額，我們核實您的信息後，會開通您的競價資格並給您一個競標的最高金額，超過這個金額的拍品我們可能不會

接受。等到我們幫您開通競價資格後，您的狀態就會變成“Approve”，表示您已經可以進行出價了，您可以提前進行出價，也可以在競價會舉行時進行出價。

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2026 Chinese Dragon Silver Bullion Coin City Cards 2026版中國龍銀幣城市卡 The 2025 Chinese Dragon Silver Bullion Coin has left an indelible mark on the history of modern Chinese precious metal coins. It not only took the global coin collecting market by storm, but also went on to win the "Best Crown Coin" category award and the most prestigious "Coin of the Year" award in 2026. This marks the first time a modern Chinese coin has claimed the highest honor at the Coin of the Year awards, achieving a historic breakthrough. Riding the wave of the dragon coin's popularity were the limited "City Cards" released at overseas coin shows. From the market-exploding debut in Singapore in 2025, to collectors queuing overnight at the Hong Kong show, and on to Tokyo, Oklahoma, Kuala Lumpur, and Macau, each City Card—with its unique city landmark design and limited mintage — became a sought-after target for collectors. In August and November 2025, two charity auctions for the Chinese Dragon Silver Coin City Cards were held, raising HK$1.6 million and US$47,000 respectively, with all proceeds donated to the Hong Kong Uplift Educational Charity Foundation.

伴隨龍銀幣一同火爆的，是每一站境外展會限量發售的“城市卡”版本。從2025年新加坡首發引爆市場，到香港站藏家徹夜排隊，再到東京、奧克拉荷馬、吉隆玻、澳門，每一張城市卡都以獨特的城市地標設計與稀缺的發行量，成為藏家競相追逐的目標。 2025年8月及11月，兩場中國龍銀幣城市卡慈善拍賣先後舉行，分別籌得 160萬港元和 47,000美元，全數捐予香港向上遊教育慈善基金。

步入 2026 年，城市卡的版圖進一步擴張。從 2025 年的六個境外城市，到2026年的八個城市，分別是柏林、新加坡、香港、東京、匹茲堡、巴黎、吉隆玻、澳門。

2026年冠軍澳門拍賣也延續了這份善意與熱度。慈善拍賣的拍品分為兩個亮點板塊：第一部分是八組2026年中國龍銀幣吉祥號；第二部分是那些通過抽籤分配但未被領取的2025澳門城市卡，尤其是選擇在澳門提貨卻逾期未取的份額，也被納入慈善拍賣的標的，讓“遺憾”轉化為公益的力量。慈善拍賣部分所同樣得將被捐於香港向上遊教育基金。

此外，還有2025年六同號和2026年八同號城市卡的常規拍賣。

Entering 2026, the City Card program has expanded further—from six overseas cities in 2025 to eight cities in 2026: Berlin, Singapore, Hong Kong, Tokyo, Pittsburgh, Paris, Kuala Lumpur, and Macau. The 2026 Champion Macau Auction also carries forward this spirit of goodwill and enthusiasm. The charity auction lots fall into two highlight sections: the first comprises eight groups of 2026 Chinese Dragon Silver Coin City Cards with auspicious serial numbers; the second consists of 2025 Macau City Cards that were allocated through lottery but never claimed—particularly those whose owners opted for Macau pickup yet failed to collect them before the deadline. All proceeds of the charity auction section will be donated to the Hong Kong Uplift Educational Foudation. In addition, there will be regular auctions of 2025 City Card sets with matching numbers across all six cities, and 2026 City Card sets with matching numbers across all eight cities. 2025版中國龍銀幣的橫空出世，在中國現代貴金屬幣史上留下濃墨重彩的一筆。它不僅迅速席捲了全球錢幣收藏市場，更在 2026年世

界硬幣大獎賽上斬獲“年度最佳克朗幣”單項獎，並一舉奪得最具分量的“年度最佳硬幣”綜合大獎。這是中國現代錢幣首次摘得世界硬幣大獎的最高桂冠，實現了歷史性突破。

From left: Michael Chou, Clifford Mishler (founder of the Coin of the Year Award), Sun Xuan (Deputy General Manager of the Marketing Department of China Gold Coin Inc.), Chen Jinglin (Deputy General Manager of China Great Wall Coins Investments Limited), Zoe Liu (Senior Manager of the Marketing Department of China Gold Coin Inc), Hu Zhengmao (Deputy General Manager of Beijing Xinwen Shidai Gold Coin Culture Communication Co., Ltd.), and Anita Zhou (General Manager of the Distribution Department of China Great Wall Coins Investments Limited). 左起：周邁可、世界硬幣大獎賽創辦人克利福德·米什勒（Clifford Mishler）、中國金幣集團有限公司市場行銷部副總經理孫軒、中國長城硬幣投資有限公司副總經理陳景林、金幣公司市場行銷部高級經理劉語嫣、北京新文時代金幣文化傳播有限公司副總經理胡正茂、長城公司經銷部總經理周正雯

Exploring Dragon Card Varieties: Insights from the Macau Dragon Card 龍幣龍卡版別探微：從澳門龍卡說起 King Chan 陳景林

In the world of Chinese gold and silver coins, the birth of the 2025 Dragon Silver Bullion Coin brought collectors boundless surprise and excitement. The collecting community is generally very satisfied with and fond of the dragon coin's design. Even those who are not enthusiasts of modern gold and silver coins—such as collectors of vintage coins and ancient coins—have eagerly made purchases. After going through the lottery process and acquiring the dragon coin or dragon card, collectors can enjoy both the pleasure of collecting and appreciable profits—truly a delightful and auspicious affair. The issuance of the dragon coin and the conception and release of the coin show dragon cards can be described as a seamless, epoch-making success. Dragon cards for coin shows around the world are made by embedding the dragon coin into a card about the size of a credit card. The card bears the logo of the People's Bank of China and issuance information, complemented by exquisite designs featuring the landmarks of the city hosting the coin show. I refer to these as the first round of show dragon cards, which include the following locations: Singapore, Hong Kong, Tokyo, Kuala Lumpur, Oklahoma, Beijing, Macau, and Berlin. The mintages of these dragon cards range from 3,000 to 10,000, and with the exception of the Berlin dragon card, all are paper cards. The Berlin card is made of metal, and its design is relatively avant-garde, with an iridescent finish. Perhaps the authorities considered that the card was being issued in 2026, so they adopted a new design style and material. Dragon cards issued after the 2026 Berlin card can be called the second round. When collectors gather multiple dragon cards, they excitedly display and admire them together. One of the pleasures of collecting often lies in using a keen eye to identify the subtle differences between different varieties of a coin. Due to production in different batches, the relevant designs do indeed show some subtle variations. Dragon cards do have independent serial numbers, and among them lies the discovery of differences in digit spacing. The following are some of my observations and research on the Macau dragon card. I offer them as a modest contribution and welcome your comments. The serial number lengths of the Macau dragon coins issued for the show are divided as follows: 1. Wide spacing, with a 4-digit number length of approximately 9.5mm 2. Medium spacing, with a 4-digit number length of approximately 8mm 3. Narrow spacing, with a 4-digit number length of approximately 7mm These distance-variant versions of the limited-edition serial numbers may have been caused by the official China Great Wall Coins Investments Limited producing the dragon cards in three separate time periods. To date, based on the information available to the author, among the 2,000 issued, the widespacing version is quite scarce, with only 20 to 25 pieces thus far graded by NGC, while the medium-spacing version is even rarer, with only 10 to 15 pieces graded by NGC.

These tiny differences constitute the varieties of the dragon card. Discovery and collecting are a source of pleasure. As time goes on, I believe more varieties will be discovered. I believe it is not only the Macau card that has variety distinctions. I hope that while enjoying and investing in dragon cards, everyone can also identify the differences among them, adding to the true pleasure of coin research. 在中國金銀幣界，2025年龍投資銀幣的誕生，為收藏愛好者帶來了無限驚喜與震撼。收藏界對龍幣的設計普遍都非常滿意，非常喜愛，就算不是當代金銀幣愛好者，如機制幣及古幣愛好者，亦都踴躍購買。大家在經過艱難的抽籤程序，購買到龍幣或者龍卡之後，在收藏欣賞之餘又可以獲得可觀的利潤，實在是一件既可喜又吉祥的美事。龍幣的發行和錢幣展覽會龍卡的構思與發行，可以說是天衣無縫、劃時代的成功產品。世界各地錢幣展覽會龍卡，又稱智能卡，是把龍幣鑲嵌在一張與信用卡大小相仿的卡片上，卡上印有中國人民銀行標誌及發行資訊，配以與錢幣展覽會相關城市地標風景的精美圖案。我稱之為第一輪展會龍卡，包括以下品種：新加坡展覽會、香港展覽會、東京展覽會、馬來西亞展覽會、美國展覽會、北京錢幣博覽會、澳門展覽會和德國柏林展覽會。這些龍卡的發行量在3000至10,000之間，當中除了柏林龍卡以外，均為紙質卡。柏林卡是使用金屬製造的，而且設計比較前衛，有種幻彩的感覺，可能當局認為該卡是在2026年發行的，所以就採取新的設計思路與材質。 2026年柏林卡以後發行的錢幣展覽會龍卡可以稱為第二輪。當愛好者們收藏多種龍卡的時候，就會興奮地將之放在一起展示並欣賞。而一個收藏的樂趣往往就是以敏銳的眼光，找出錢幣上不同版別的小區別。因為不同批次的生產，相關圖案確實出現一些微妙的差異。龍卡確實有獨立編號，當中有數字距離之分的這種發現。以下是我對澳門龍卡的一些觀察及研究，拋磚引玉，歡迎指教。展會發行澳門龍幣號碼長度分為： 1.寬字距，4位數號碼長度大約是9.5mm

2.中等字距，4位數號碼長度大約是8mm

3.窄字距，4位數號碼長度大約是7mm

造成這些限量編號的距離差異版本，可能是因為官方長城公司分三次不同時段製作龍卡。至目前為止，以筆者所掌握的資訊，在2000張發行量當中，數字寬距離版版本頗為稀少，暫時只有20至25枚已由 NGC評級，而數字中距離版本則更加稀有，只有10至15枚由NGC 評級。這些微小的區別是龍卡的版別。發現和收藏是一種樂趣，隨著時間的發展，相信會有更多版別被發掘出來，相信不只有澳門卡才有版別之分，希望大家在欣賞投資龍卡之餘，亦可以找出當中的區別，以增添錢幣研究的真正樂趣。

Extremely Rare Matching Lucky Number 0008 Berlin, Singapore, Hong Kong, Tokyo, Pittsburgh, Paris, Kuala Lumpur, Macau City Cards

001 001

2026 Chinese Dragon Silver Bullion Coin, a complete set of 8 city cards with the same serial number #0008, total 8 pieces: Berlin, Singapore, Hong Kong, Tokyo, Pittsburgh, Paris, Kuala Lumpur, Macau 2026年中國龍銀幣，全套八同號 #0008，共8枚：柏林、新加坡、香港、東京、匹茲堡、巴黎、吉隆玻、澳門

US $1,000-2,000

Extremely Rare Matching Lucky Number 0088 Berlin, Singapore, Hong Kong, Tokyo, Pittsburgh, Paris, Kuala Lumpur, Macau City Cards

002 002

2026 Chinese Dragon Silver Bullion Coin, a complete set of 8 city cards with the same serial number #0088, total 8 pieces: Berlin, Singapore, Hong Kong, Tokyo, Pittsburgh, Paris, Kuala Lumpur, Macau 2026年中國龍銀幣，全套八同號 #0088，共8枚：柏林、新加坡、香港、東京、匹茲堡、巴黎、吉隆玻、澳門

US $1,000-2,000

Extremely Rare Matching Lucky Number 0111 Berlin, Singapore, Hong Kong, Tokyo, Pittsburgh, Paris, Kuala Lumpur, Macau City Cards

003 003

2026 Chinese Dragon Silver Bullion Coin, a complete set of 8 city cards with the same serial number #0111, total 8 pieces: Berlin, Singapore, Hong Kong, Tokyo, Pittsburgh, Paris, Kuala Lumpur, Macau 2026年中國龍銀幣，全套八同號 #0111，共8枚：柏林、新加坡、香港、東京、匹茲堡、巴黎、吉隆玻、澳門

US $1,000-2,000

Extremely Rare Matching Lucky Number 0222 Berlin, Singapore, Hong Kong, Tokyo, Pittsburgh, Paris, Kuala Lumpur, Macau City Cards

004 004

2026 Chinese Dragon Silver Bullion Coin, a complete set of 8 city cards with the same serial number #0222, total 8 pieces: Berlin, Singapore, Hong Kong, Tokyo, Pittsburgh, Paris, Kuala Lumpur, Macau 2026年中國龍銀幣，全套八同號 #0222，共8枚：柏林、新加坡、香港、東京、匹茲堡、巴黎、吉隆玻、澳門

US $1,000-2,000

Extremely Rare Matching Lucky Number 0333 Berlin, Singapore, Hong Kong, Tokyo, Pittsburgh, Paris, Kuala Lumpur, Macau City Cards

005 005

2026 Chinese Dragon Silver Bullion Coin, a complete set of 8 city cards with the same serial number #0333, total 8 pieces: Berlin, Singapore, Hong Kong, Tokyo, Pittsburgh, Paris, Kuala Lumpur, Macau 2026年中國龍銀幣，全套八同號 #0333，共8枚：柏林、新加坡、香港、東京、匹茲堡、巴黎、吉隆玻、澳門

US $1,000-2,000 16

Extremely Rare Matching Lucky Number 0444 Berlin, Singapore, Hong Kong, Tokyo, Pittsburgh, Paris, Kuala Lumpur, Macau City Cards

006 006

2026 Chinese Dragon Silver Bullion Coin, a complete set of 8 city cards with the same serial number #0444, total 8 pieces: Berlin, Singapore, Hong Kong, Tokyo, Pittsburgh, Paris, Kuala Lumpur, Macau 2026年中國龍銀幣，全套八同號 #0444，共8枚：柏林、新加坡、香港、東京、匹茲堡、巴黎、吉隆玻、澳門

US $1,000-2,000

Extremely Rare Matching Lucky Number 0555 Berlin, Singapore, Hong Kong, Tokyo, Pittsburgh, Paris, Kuala Lumpur, Macau City Cards

007 007

2026 Chinese Dragon Silver Bullion Coin, a complete set of 8 city cards with the same serial number #0555, total 8 pieces: Berlin, Singapore, Hong Kong, Tokyo, Pittsburgh, Paris, Kuala Lumpur, Macau 2026年中國龍銀幣，全套八同號 #0555，共8枚：柏林、新加坡、香港、東京、匹茲堡、巴黎、吉隆玻、澳門

US $1,000-2,000

Extremely Rare Matching Lucky Number 0666 Berlin, Singapore, Hong Kong, Tokyo, Pittsburgh, Paris, Kuala Lumpur, Macau City Cards

008 008

2026 Chinese Dragon Silver Bullion Coin, a complete set of 8 city cards with the same serial number #0666, total 8 pieces: Berlin, Singapore, Hong Kong, Tokyo, Pittsburgh, Paris, Kuala Lumpur, Macau 2026年中國龍銀幣，全套八同號 #0666，共8枚：柏林、新加坡、香港、東京、匹茲堡、巴黎、吉隆玻、澳門

US $1,000-2,000

Extremely Rare Matching Lucky Number 0777 Berlin, Singapore, Hong Kong, Tokyo, Pittsburgh, Paris, Kuala Lumpur, Macau City Cards

009 009

2026 Chinese Dragon Silver Bullion Coin, a complete set of 8 city cards with the same serial number #0777, total 8 pieces: Berlin, Singapore, Hong Kong, Tokyo, Pittsburgh, Paris, Kuala Lumpur, Macau 2026年中國龍銀幣，全套八同號 #0777，共8枚：柏林、新加坡、香港、東京、匹茲堡、巴黎、吉隆玻、澳門

US $1,000-2,000 18

Extremely Rare Matching Lucky Number 0888 Berlin, Singapore, Hong Kong, Tokyo, Pittsburgh, Paris, Kuala Lumpur, Macau City Cards

010 010

2026 Chinese Dragon Silver Bullion Coin, a complete set of 8 city cards with the same serial number #0888, total 8 pieces: Berlin, Singapore, Hong Kong, Tokyo, Pittsburgh, Paris, Kuala Lumpur, Macau 2026年中國龍銀幣，全套八同號 #0888，共8枚：柏林、新加坡、香港、東京、匹茲堡、巴黎、吉隆玻、澳門

US $1,000-2,000

Extremely Rare Matching Lucky Number 0999 Berlin, Singapore, Hong Kong, Tokyo, Pittsburgh, Paris, Kuala Lumpur, Macau City Cards

011 011

2026 Chinese Dragon Silver Bullion Coin, a complete set of 8 city cards with the same serial number #0999, total 8 pieces: Berlin, Singapore, Hong Kong, Tokyo, Pittsburgh, Paris, Kuala Lumpur, Macau 2026年中國龍銀幣，全套八同號 #0999，共8枚：柏林、新加坡、香港、東京、匹茲堡、巴黎、吉隆玻、澳門

US $1,000-2,000

Extremely Rare Matching Lucky Number 1111 Berlin, Singapore, Hong Kong, Tokyo, Pittsburgh, Paris, Kuala Lumpur, Macau City Cards

012 012

2026 Chinese Dragon Silver Bullion Coin, a complete set of 8 city cards with the same serial number #1111, total 8 pieces: Berlin, Singapore, Hong Kong, Tokyo, Pittsburgh, Paris, Kuala Lumpur, Macau 2026年中國龍銀幣，全套八同號 #1111，共8枚：柏林、新加坡、香港、東京、匹茲堡、巴黎、吉隆玻、澳門

US $1,000-2,000 013

014

US $500-1,000

015

016

US $500-1,000

017

018

US $500-1,000

019

020

US $500-1,000

021

022

US $500-1,000

2025 Chinese Dragon Silver Bullion Coin, Macau City Card #1538, 1553, 1536, 0953, 1523 2025年中國龍銀幣，澳門城市卡版 #1538，1553，1536，0953， 1523

2025 Chinese Dragon Silver Bullion Coin, Macau City Card #0231, 0233, 0236, 0395, 0396 2025年中國龍銀幣，澳門城市卡版 #0231，0233，0236，0395， 0396

2025 Chinese Dragon Silver Bullion Coin, Macau City Card #1763, 1766, 1765, 1769, 1768 2025年中國龍銀幣，澳門城市卡版 #1763，1766，1765，1769， 1768

2025 Chinese Dragon Silver Bullion Coin, Macau City Card #0570, 0723, 0567, 0137, 0337 2025年中國龍銀幣，澳門城市卡版 #0570，0723，0567，0137， 0337

2025 Chinese Dragon Silver Bullion Coin, Macau City Card #0140, 1443, 1411, 1412, 1415 2025年中國龍銀幣，澳門城市卡版 #0140，1443，1411，1412， 1415

2025 Chinese Dragon Silver Bullion Coin, Macau City Card #1389, 1382, 1385, 1530, 0351 2025年中國龍銀幣，澳門城市卡版 #1389，1382，1385，1530， 0351

2025 Chinese Dragon Silver Bullion Coin, Macau City Card #0399, 1390, 1935, 1930, 1931 2025年中國龍銀幣，澳門城市卡版 #0399，1390，1935，1930， 1931

2025 Chinese Dragon Silver Bullion Coin, Macau City Card #1419, 0564, 0114, 1414, 1788 2025年中國龍銀幣，澳門城市卡版 #1419，0564，0114，1414， 1788

2025 Chinese Dragon Silver Bullion Coin, Macau City Card #0334, 0642, 0134, 0340, 0649 2025年中國龍銀幣，澳門城市卡版 #0334，0642，0134，0340， 0649

2025 Chinese Dragon Silver Bullion Coin, Macau City Card #1416, 1418, 1417, 1420, 1413 2025年中國龍銀幣，澳門城市卡版 #1416，1418，1417，1420， 1413

2025 Rare Complete Set Matching #0259 City Cards

023 023

2025 Chinese Dragon Silver Bullion Coin, a complete set of 6 city cards with the same serial number #0259, total 6 pieces: Singapore, Hong Kong, Tokyo, Oklahoma, Kuala Lumpur, Macau 2025年中國龍銀幣，全套六同號 #0259，共6枚：新加坡、香港、東京、俄克拉荷馬、吉隆玻、澳門

US $2,000-4,000

Auction Result(s): 4/2026, Champion Hong Kong Auction, a complete set of 6 city cards with the same serial number #0205, realized USD 3,120 4/2026, Champion Hong Kong Auction, a complete set of 6 city cards with the same serial number #0581, realized USD 2,880 4/2026, Champion Hong Kong Auction, a complete set of 6 city cards with the same serial number #0256, realized USD 2,640 拍賣記錄： 2026年4月，冠軍香港拍賣，全套六同號 #0205，成交價3,120美元 2026年4月，冠軍香港拍賣，全套六同號 #0581，成交價2,880美元 2026年4月，冠軍香港拍賣，全套六同號 #0256，成交價2,640美元

024

2025 Chinese Dragon Silver Bullion Coin, a complete set of 6 city cards with the same serial number #0295, total 6 pieces: Singapore, Hong Kong, Tokyo, Oklahoma, Kuala Lumpur, Macau 2025年中國龍銀幣，全套六同號 #0295，共6枚：新加坡、香港、東京、俄克拉荷馬、吉隆玻、澳門

US $2,500-5,000 025

2025 Chinese Dragon Silver Bullion Coin, a complete set of 6 city cards with the same serial number #0579, total 6 pieces: Singapore, Hong Kong, Tokyo, Oklahoma, Kuala Lumpur, Macau 2025年中國龍銀幣，全套六同號 #0579，共6枚：新加坡、香港、東京、俄克拉荷馬、吉隆玻、澳門

US $2,000-4,000 026

2025 Chinese Dragon Silver Bullion Coin, a complete set of 6 city cards with the same serial number #0583, total 6 pieces: Singapore, Hong Kong, Tokyo, Oklahoma, Kuala Lumpur, Macau 2025年中國龍銀幣，全套六同號 #0583，共6枚：新加坡、香港、東京、俄克拉荷馬、吉隆玻、澳門

US $2,000-4,000

2026 Rare Complete Set Matching #0501 City Cards

027 027

2026 Chinese Dragon Silver Bullion Coin, a complete set of 8 city cards with the same serial number #0501, total 8 pieces: Berlin, Singapore, Hong Kong, Tokyo, Pittsburgh, Paris, Kuala Lumpur, Macau 2026年中國龍銀幣，全套八同號 #0501，共8枚：柏林、新加坡、香港、東京、匹茲堡、巴黎、吉隆玻、澳門

US $1,000-2,000

028

2026 Chinese Dragon Silver Bullion Coin, a complete set of 8 city cards with the same serial number #0504, total 8 pieces: Berlin, Singapore, Hong Kong, Tokyo, Pittsburgh, Paris, Kuala Lumpur, Macau 2026年中國龍銀幣，全套八同號 #0504，共8枚：柏林、新加坡、香港、東京、匹茲堡、巴黎、吉隆玻、澳門

US $1,000-2,000 029

2026 Chinese Dragon Silver Bullion Coin, a complete set of 8 city cards with the same serial number #0506, total 8 pieces: Berlin, Singapore, Hong Kong, Tokyo, Pittsburgh, Paris, Kuala Lumpur, Macau 2026年中國龍銀幣，全套八同號 #0506，共8枚：柏林、新加坡、香港、東京、匹茲堡、巴黎、吉隆玻、澳門

US $1,500-3,000 030

2026 Chinese Dragon Silver Bullion Coin, a complete set of 8 city cards with the same serial number #0507, total 8 pieces: Berlin, Singapore, Hong Kong, Tokyo, Pittsburgh, Paris, Kuala Lumpur, Macau 2026年中國龍銀幣，全套八同號 #0507，共8枚：柏林、新加坡、香港、東京、匹茲堡、巴黎、吉隆玻、澳門

US $1,000-2,000 031

2026 Chinese Dragon Silver Bullion Coin, a complete set of 8 city cards with the same serial number #0508, total 8 pieces: Berlin, Singapore, Hong Kong, Tokyo, Pittsburgh, Paris, Kuala Lumpur, Macau 2026年中國龍銀幣，全套八同號 #0508，共8枚：柏林、新加坡、香港、東京、匹茲堡、巴黎、吉隆玻、澳門

US $1,500-3,000 032

2026 Chinese Dragon Silver Bullion Coin, a complete set of 8 city cards with the same serial number #0862, total 8 pieces: Berlin, Singapore, Hong Kong, Tokyo, Pittsburgh, Paris, Kuala Lumpur, Macau 2026年中國龍銀幣，全套八同號 #0862，共8枚：柏林、新加坡、香港、東京、匹茲堡、巴黎、吉隆玻、澳門

US $1,500-3,000

033

2025 Chinese Dragon Silver Bullion Coin, Hong Kong City Card (without City Card) #0063, NGC MS 70, First Day of Issue 2025年中國龍銀幣，香港城市卡版 #0063，NGC MS 70，首日發行

US $600-1,200

035

2025 Chinese Dragon Silver Bullion Coin, Hong Kong City Card (without City Card) #0975, NGC MS 70, First Day of Issue 2025年中國龍銀幣，香港城市卡版 #0975，NGC MS 70，首日發行

US $600-1,200

034

2025 Chinese Dragon Silver Bullion Coin, Hong Kong City Card (without City Card) #0791, NGC MS 70, First Day of Issue 2025年中國龍銀幣，香港城市卡版 #0791，NGC MS 70，首日發行

US $600-1,200

036

2025 Chinese Dragon Silver Bullion Coin, NGC MS 70, 8512386-031 , First Day of Issue - HICC April 2025 2025年中國龍銀幣，NGC MS 70，8512386-031，2025年4月香港 HICC展會首日發行，First Day of Issue - HICC April 2025

US $300-600

037

2025 Chinese Dragon Silver Bullion Coin, NGC MS 70, 8512386-032 , First Day of Issue - HICC April 2025 2025年中國龍銀幣，NGC MS 70，8512386-032 ，2025年4月香港 HICC展會首日發行，First Day of Issue - HICC April 2025

US $300-600

037 23

038

2025 Chinese Dragon Silver Bullion Coin, PCGS MS 70, 56033790 , First Strike - HICC 2025 April 9th 2025年中國龍銀幣，PCGS MS 70，56033790 ，2025年4月香港 HICC展會首日發行，First Strike - HICC 2025 April 9th

US $300-600

039

2025 Chinese Dragon Silver Bullion Coin, PCGS MS 70, 56033792 , First Strike - HICC 2025 April 9th 2025年中國龍銀幣，PCGS MS 70，56033792 ，2025年4月香港 HICC展會首日發行，First Strike - HICC 2025 April 9th

US $300-600

040

(1) 2025 Chinese Dragon Silver Bullion Coin, NGC MS 70, 8543820-001, First Day - August HICC (2) 2025 Chinese Dragon Silver Bullion Coin, NGC MS 70, 8543820-002, First Day - August HICC Total 2 pieces （1）2025年中國龍銀幣，NGC MS 70，8543820-001，2025年8 月香港 HICC 展會首日發行，First Day - August HICC （2）2025年中國龍銀幣，NGC MS 70，8543820-002，2025年8 月香港 HICC 展會首日發行，First Day - August HICC 共2枚

US $150-300

041

2025 Chinese Dragon Silver Bullion Coin, Macau City Card Edition #1313, wide numeral spacing, NGC MS 70, First Day MICC 2025年中國龍銀幣，澳門城市卡版 #1313，寬字距，NGC MS 70，首

日發行

US $1,000-2,000

041 24

042

2025 Chinese Dragon Silver Bullion Coin, Macau City Card Edition #0644, wide numeral spacing, NGC MS 70, First Day MICC 2025年中國龍銀幣，澳門城市卡版 #0644，寬字距，NGC MS 70，首日發行

US $600-1,200

042

043

2025 Chinese Dragon Silver Bullion Coin, Macau City Card Edition #1093, wide numeral spacing, NGC MS 70, First Day MICC 2025年中國龍銀幣，澳門城市卡版 #1093，寬字距，NGC MS 70，首日發行

US $600-1,200

043

044

2025 Chinese Dragon Silver Bullion Coin, Macau City Card Edition #0695, medium numeral spacing, NGC MS 70, First Day - MICC 2025年中國龍銀幣，澳門城市卡版 #0695，中等字距，NGC MS 70，首日發行

US $600-1,200

044

045

2025 Chinese Dragon Silver Bullion Coin, Macau City Card Edition #0916, medium numeral spacing, NGC MS 70, First Day - MICC 2025年中國龍銀幣，澳門城市卡版 #0916，中等字距，NGC MS 70，首日發行

US $600-1,200

045 25

046

2025 Chinese Dragon Silver Bullion Coin, Macau City Card Edition #0103, medium numeral spacing, NGC MS 70, First Day - MICC 2025年中國龍銀幣，澳門城市卡版 #0103，中等字距，NGC MS 70，首日發行

US $600-1,200

046

047

2025 Chinese Dragon Silver Bullion Coin, Macau City Card Edition #0100, narrow numeral spacing, NGC MS 70, First Day - MICC 2025年中國龍銀幣，澳門城市卡版 #0100，窄字距，NGC MS 70，首日發行

US $600-1,200

047

048

2025 Chinese Dragon Silver Bullion Coin, Macau City Card Edition #0125, narrow numeral spacing, NGC MS 70, First Day - MICC 2025年中國龍銀幣，澳門城市卡版 #0125，窄字距，NGC MS 70，首日發行

US $300-600

048

049

2025 Chinese Dragon Silver Bullion Coin, Macau City Card Edition #0161, narrow numeral spacing, NGC MS 70, MICC Show Releases 2025年中國龍銀幣，澳門城市卡版 #0161，窄字距，NGC MS 70，展會發行

US $300-600

049 26

050

2025 Chinese Dragon Silver Bullion Coin, Macau City Card Edition #0632, narrow numeral spacing, NGC MS 70, First Day - MICC 2025年中國龍銀幣，澳門城市卡版 #0632，窄字距，NGC MS 70，首日發行

US $600-1,200

050

051

2025 Chinese Dragon Silver Bullion Coin, Macau City Card Edition #0663, narrow numeral spacing, NGC MS 70, First Day - MICC 2025年中國龍銀幣，澳門城市卡版 #0663，窄字距，NGC MS 70，首日發行

US $600-1,200

051

052

2025 Chinese Dragon Silver Bullion Coin, Macau City Card Edition #0689, narrow numeral spacing, NGC MS 70, First Day - MICC 2025年中國龍銀幣，澳門城市卡版 #0689，窄字距，NGC MS 70，首日發行

US $800-1,600

052

053

2025 Chinese Dragon Silver Bullion Coin, Macau City Card Edition #0898, narrow numeral spacing, NGC MS 70, First Day - MICC 2025年中國龍銀幣，澳門城市卡版 #0898，窄字距，NGC MS 70，首日發行

US $1000-2,000

053 27

054

2025 Chinese Dragon Silver Bullion Coin, Macau City Card Edition #0998, narrow numeral spacing, NGC MS 70, First Day - MICC 2025年中國龍銀幣，澳門城市卡版 #0998，窄字距，NGC MS 70，首

日發行

US $1,000-2,000

054

055

2025 Chinese Dragon Silver Bullion Coin, Macau City Card Edition #1551, narrow numeral spacing, NGC MS 69, First Day - MICC 2025年中國龍銀幣，澳門城市卡版 #1551，窄字距，NGC MS 69，首日發行

US $300-600

055

056

2025 Chinese Dragon Silver Bullion Coin, Macau City Card Edition #1665, narrow numeral spacing, NGC MS 69, MICC Show Releases 2025年中國龍銀幣，澳門城市卡版 #1665，窄字距，NGC MS 69，展會發行

US $300-600

056

057

2025 Chinese Dragon Silver Bullion Coin, Macau City Card Edition #1922, narrow numeral spacing, NGC MS 70, MICC Show Releases 2025年中國龍銀幣，澳門城市卡版 #1922，窄字距，NGC MS 70，展會發行

US $600-1,200

057 28

058

2025 Chinese Dragon Silver Bullion Coin, Macau City Card Edition #1961, narrow numeral spacing, NGC MS 70, MICC Show Releases 2025年中國龍銀幣，澳門城市卡版 #1961，窄字距，NGC MS 70，展會發行

US $300-600

058

Lucky Number # 0832 2025 Chinese Dragon Silver "Coin-in-Bar" Colored Gilt Premium Edition

059 059

2025 Chinese Dragon Silver "Coin-in-Bar" Colored Gilt Premium Edition #0832. It contains 1 ounce silver commemorative coin (diameter: 38mm) and 2 ounces silver commemorative medal (dimensions: 50*80mm), both with a fineness of .999. Their minimum gross weight is 93.3 grams in total. The set adopts innovative inlay craftsmanship to securely integrate the coin and the medal; the medal is partially plated with 24K gold and is individually numbered. It is a worldwide limited edition of 888 sets, accompanied by an official certificate and a presentation box. 2025年中國龍銀質“條中幣”彩色鍍金典藏套裝 #0832，含1盎司銀質紀念幣（直徑38毫米）與2盎司銀質紀念章（尺寸50*80毫米），成色均為.999，總純銀含量約93.3克；套裝採用創新鑲嵌工藝將銀幣與銀章穩固結合，銀章局部24K鍍金，附帶獨立收藏編號，全球限量發行888套，附官方證書與專屬包裝盒。

US $500-1,000

Lucky Number # 0833 2025 Chinese Dragon Silver "Coin-in-Bar" Colored Gilt Premium Edition

060 060

2025 Chinese Dragon Silver "Coin-in-Bar" Colored Gilt Premium Edition #0833. It contains 1 ounce silver commemorative coin (diameter: 38mm) and 2 ounces silver commemorative medal (dimensions: 50*80mm), both with a fineness of .999. Their minimum gross weight is 93.3 grams in total. The set adopts innovative inlay craftsmanship to securely integrate the coin and the medal; the medal is partially plated with 24K gold and is individually numbered. It is a worldwide limited edition of 888 sets, accompanied by an official certificate and a presentation box. 2025年中國龍銀質“條中幣”彩色鍍金典藏套裝 #0833，含1盎司銀質紀念幣（直徑38毫米）與2盎司銀質紀念章（尺寸50*80毫米），成色均為.999，總純銀含量約93.3克；套裝採用創新鑲嵌工藝將銀幣與銀章穩固結合，銀章局部24K鍍金，附帶獨立收藏編號，全球限量發行888套，附官方證書與專屬包裝盒。

US $500-1,000

Lucky Number # 0836 2025 Chinese Dragon Silver "Coin-in-Bar" Colored Gilt Premium Edition

061 061

2025 Chinese Dragon Silver "Coin-in-Bar" Colored Gilt Premium Edition #0836. It contains 1 ounce silver commemorative coin (diameter: 38mm) and 2 ounces silver commemorative medal (dimensions: 50*80mm), both with a fineness of .999. Their minimum gross weight is 93.3 grams in total. The set adopts innovative inlay craftsmanship to securely integrate the coin and the medal; the medal is partially plated with 24K gold and is individually numbered. It is a worldwide limited edition of 888 sets, accompanied by an official certificate and a presentation box. 2025年中國龍銀質“條中幣”彩色鍍金典藏套裝 #0836，含1盎司銀質紀念幣（直徑38毫米）與2盎司銀質紀念章（尺寸50*80毫米），成色均為.999，總純銀含量約93.3克；套裝採用創新鑲嵌工藝將銀幣與銀章穩固結合，銀章局部24K鍍金，附帶獨立收藏編號，全球限量發行888套，附官方證書與專屬包裝盒。

US $500-1,000 30

Lucky Number # 0839 2025 Chinese Dragon Silver "Coin-in-Bar" Colored Gilt Premium Edition

062 062

2025 Chinese Dragon Silver "Coin-in-Bar" Colored Gilt Premium Edition #0839. It contains 1 ounce silver commemorative coin (diameter: 38mm) and 2 ounces silver commemorative medal (dimensions: 50*80mm), both with a fineness of .999. Their minimum gross weight is 93.3 grams in total. The set adopts innovative inlay craftsmanship to securely integrate the coin and the medal; the medal is partially plated with 24K gold and is individually numbered. It is a worldwide limited edition of 888 sets, accompanied by an official certificate and a presentation box. 2025年中國龍銀質“條中幣”彩色鍍金典藏套裝 #0839，含1盎司銀質紀念幣（直徑38毫米）與2盎司銀質紀念章（尺寸50*80毫米），成色均為.999，總純銀含量約93.3克；套裝採用創新鑲嵌工藝將銀幣與銀章穩固結合，銀章局部24K鍍金，附帶獨立收藏編號，全球限量發行888套，附官方證書與專屬包裝盒。

US $500-1,000

Choice 2025 Chinese Dragon Silver "Coin-in-Bar" Colored Gilt Premium Edition

063 063

2025 Chinese Dragon Silver "Coin-in-Bar" Colored Gilt Premium Edition #0846. It contains 1 ounce silver commemorative coin (diameter: 38mm) and 2 ounces silver commemorative medal (dimensions: 50*80mm), both with a fineness of .999. Their minimum gross weight is 93.3 grams in total. The set adopts innovative inlay craftsmanship to securely integrate the coin and the medal; the medal is partially plated with 24K gold and is individually numbered. It is a worldwide limited edition of 888 sets, accompanied by an official certificate and a presentation box. 2025年中國龍銀質“條中幣”彩色鍍金典藏套裝 #0846，含1盎司銀質紀念幣（直徑38毫米）與2盎司銀質紀念章（尺寸50*80毫米），成色均為.999，最小毛重為93.3克；套裝採用創新鑲嵌工藝將銀幣與銀章穩固結合，銀章局部24K鍍金，附帶獨立收藏編號，全球限量發行888套，附官方證書與專屬包裝盒。

US $500-1,000

Lucky Number #0859 2025 Chinese Dragon Silver "Coin-in-Bar" Colored Gilt Premium Edition

064 064

2025 Chinese Dragon Silver "Coin-in-Bar" Colored Gilt Premium Edition #0859. It contains 1 ounce silver commemorative coin (diameter: 38mm) and 2 ounces silver commemorative medal (dimensions: 50*80mm), both with a fineness of .999. Their minimum gross weight is 93.3 grams in total. The set adopts innovative inlay craftsmanship to securely integrate the coin and the medal; the medal is partially plated with 24K gold and is individually numbered. It is a worldwide limited edition of 888 sets, accompanied by an official certificate and a presentation box. 2025年中國龍銀質“條中幣”彩色鍍金典藏套裝 #0859，含1盎司銀質紀念幣（直徑38毫米）與2盎司銀質紀念章（尺寸50*80毫米），成色均為.999，總純銀含量約93.3克；套裝採用創新鑲嵌工藝將銀幣與銀章穩固結合，銀章局部24K鍍金，附帶獨立收藏編號，全球限量發行888套，附官方證書與專屬包裝盒。

US $500-1,000

Finest Known Low Number # 0086 2026 Hong Kong City Card Edition

065 065

2026 Chinese Dragon Silver Bullion Coin, Hong Kong City Card Edition #0086/3000, NGC MS 70, FDOI (First Day of Issue) 2026年中國龍銀幣，香港城市卡版 #0086/3000，NGC MS 70，首日發行

US $1,500-3,000 32

Scarce MS 70 2026 Hong Kong City Card Edition

066 066

(1) 2026 Chinese Dragon Silver Bullion Coin, Hong Kong City Card Edition #1205/3000, NGC MS 70, FDOI (First Day of Issue); (2) 2026 Chinese Dragon Silver Bullion Coin, Hong Kong City Card Edition #1609/3000, NGC MS 70, FDOI (First Day of Issue); (3) 2026 Chinese Dragon Silver Bullion Coin, Hong Kong City Card Edition #1610/3000, NGC MS 70, FDOI (First Day of Issue). Total 3 pieces Only 17% of the 2026 Hong Kong City Card is graded as MS70, the lowest among City Card MS70s, while the 2025 Hong Kong City Card was almost all NGC MS70. （1）2026年中國龍銀幣，香港城市卡版 #1205/3000，NGC MS 70，首日發行；（2）2026年中國龍銀幣，香港城市卡版 #1609/3000，（3）2026年中國龍銀幣，香港城市卡版 #1610/3000，NGC MS 70，首日發行。共3枚 NGC MS 70，首日發行； 2026 年香港城市卡中，僅有 17% 被評級為 MS70，是歷屆城市卡 MS70 中數量最少的。而2025 年香港城市卡幾乎全部為 NGC MS70。

US $1,500-3,000

Lucky Number #1880 2026 Hong Kong City Card Edition

067

2026 Chinese Dragon Silver Bullion Coin, Hong Kong City Card Edition #1880/3000, NGC MS 70, FDOI (First Day of Issue) 2026年中國龍銀幣，香港城市卡版 #1880/3000，NGC MS 70，首日發行

US $1,300-2,600

067 068

(1) 2026 Chinese Dragon Silver Bullion Coin, Hong Kong City Card Edition #2690/3000, NGC MS 70, FDOI (First Day of Issue); (2) 2026 Chinese Dragon Silver Bullion Coin, Hong Kong City Card Edition #2691/3000, NGC MS 70, FDOI (First Day of Issue) Total 2 pieces （1）2026年中國龍銀幣，香港城市卡版 #2690/3000，NGC MS 70，首日發行；（2）2026 年中國龍銀幣，香港城市卡版 #2691/3000， NGC MS 70，首日發行共2枚

US $1,000-2,000

068 33

Lucky Number # 0989 2026 Hong Kong City Card Edition

069

2026 Chinese Dragon Silver Bullion Coin, Hong Kong City Card Edition #0989/3000, NGC MS 70, FDOI (First Day of Issue) 2026年中國龍銀幣，香港城市卡版 #0989/3000，NGC MS 70，首

日發行

US $1,300-2,600

069

070

2026 Chinese Dragon Silver Bullion Coin, Hong Kong City Card #0023/3000 2026年中國龍銀幣，香港城市卡版 #0023/3000

US $300-600

072

2026 Chinese Dragon Silver Bullion Coin, Hong Kong City Card #1333/3000 2026年中國龍銀幣，香港城市卡版 #1333/3000

US $350-700 34

071

2026 Chinese Dragon Silver Bullion Coin, Hong Kong City Card #1313/3000 2026年中國龍銀幣，香港城市卡版 #1313/3000

US $300-600

073

2026 Chinese Dragon Silver Bullion Coin, Hong Kong City Card #2332/3000 2026年中國龍銀幣，香港城市卡版 #2332/3000

US $300-600

074

(1) 2026 Chinese Dragon Silver Bullion Coin, Hong Kong City Card Edition #0185/3000, NGC MS 69, FDOI (First Day of Issue) (2) 2026 Chinese Dragon Silver Bullion Coin, Hong Kong City Card Edition #0592/3000, NGC MS 69, FDOI (First Day of Issue) (3) 2026 Chinese Dragon Silver Bullion Coin, Hong Kong City Card Edition #1390/3000, NGC MS 69, FDOI (First Day of Issue) (4) 2026 Chinese Dragon Silver Bullion Coin, Hong Kong City Card Edition #1392/3000, NGC MS 69, FDOI (First Day of Issue) Total 4 pieces （1）2026年中國龍銀幣，香港城市卡版 #0185/3000，NGC MS 69，首日發行（2）2026年中國龍銀幣，香港城市卡版 #0592/3000，NGC MS 69，首日發行（3）2026年中國龍銀幣，香港城市卡版 #1390/3000，NGC MS 69，首日發行（4）2026年中國龍銀幣，香港城市卡版 #1392/3000，NGC MS 69，首日發行共4枚

US $800-1,600

075

(1) 2026 Chinese Dragon Silver Bullion Coin, Hong Kong City Card Edition #1582/3000, NGC MS 69, FDOI (First Day of Issue) (2) 2026 Chinese Dragon Silver Bullion Coin, Hong Kong City Card Edition #1612/3000, NGC MS 69, FDOI (First Day of Issue) (3) 2026 Chinese Dragon Silver Bullion Coin, Hong Kong City Card Edition #2829/3000, NGC MS 69, FDOI (First Day of Issue) Total 3 pieces （1）2026年中國龍銀幣，香港城市卡版 #1582/3000，NGC MS 69，首日發行（2）2026年中國龍銀幣，香港城市卡版 #1612/3000，NGC MS 69，首日發行（3）2026年中國龍銀幣，香港城市卡版 #2829/3000，NGC MS 69，首日發行共3枚

US $600-1,200

077

(1) 2026 Chinese Dragon Silver Bullion Coin, Berlin City Card Edition #3427/5000, NGC MS 70, First Day - WMF (2) 2026 Chinese Dragon Silver Bullion Coin, Berlin City Card Edition #3429/5000, NGC MS 70, First Day - WMF (3) 2026 Chinese Dragon Silver Bullion Coin, Berlin City Card Edition #4454/5000, NGC MS 70, First Day - WMF (4) 2026 Chinese Dragon Silver Bullion Coin, Berlin City Card Edition #4455/5000, NGC MS 70, First Day - WMF (5) 2026 Chinese Dragon Silver Bullion Coin, Berlin City Card Edition #4456/5000, NGC MS 70, First Day - WMF Total 5 pieces （1）2026年中國龍銀幣，柏林城市卡版 #3427/5000，NGC MS 70，

076 076

2026 Chinese Dragon Silver Bullion Coin, Hong Kong City Card Edition #2908/3000, NGC MS 69, FDOI (First Day of Issue) 2026年中國龍銀幣，香港城市卡版 #2908/3000，NGC MS 69，首日發行

US $300-600

首日發行（2）2026年中國龍銀幣，柏林城市卡版 #3429/5000，NGC MS 70，首日發行（3）2026年中國龍銀幣，柏林城市卡版 #4454/5000，NGC MS 70，首日發行（4）2026年中國龍銀幣，柏林城市卡版 #4455/5000，NGC MS 70，首日發行（5）2026年中國龍銀幣，柏林城市卡版 #4456/5000，NGC MS 70，首日發行共5枚

US $1,000-2,000

078

(1) 2026 Chinese Dragon Silver Bullion Coin, Berlin City Card Edition #3331/5000, NGC MS 70, First Day - WMF (2) 2026 Chinese Dragon Silver Bullion Coin, Berlin City Card Edition #3360/5000, NGC MS 70, First Day - WMF (3) 2026 Chinese Dragon Silver Bullion Coin, Berlin City Card Edition #3392/5000, NGC MS 70, First Day - WMF (4) 2026 Chinese Dragon Silver Bullion Coin, Berlin City Card Edition #3506/5000, NGC MS 70, First Day - WMF Total 4 pieces （1）2026年中國龍銀幣，柏林城市卡版 #3331/5000，NGC MS 70，首日發行（2）2026年中國龍銀幣，柏林城市卡版 #3360/5000，NGC MS 70，首日發行（3）2026年中國龍銀幣，柏林城市卡版 #3392/5000，NGC MS 70，首日發行（4）2026年中國龍銀幣，柏林城市卡版 #3506/5000，NGC MS 70，首日發行共4枚

US $1,200-2,400

Luck Number # 3288 2026 Chinese Dragon Silver Bullion Coin

079 079

2026 Chinese Dragon Silver Bullion Coin, Berlin City Card Edition #3288/5000, NGC MS 70, First Day - WMF 2026年中國龍銀幣，柏林城市卡版 #3288/5000，NGC MS 70，首日發行

US $500-1,000 36

The Knife Coins from the Bowker/Fang Yao-yu Collection 包克 / 方藥雨收藏刀幣 Howard F. Bowker and Fang Yao-Yu are two names that cannot be overlooked in the history of Chinese coin collecting in the 20th century. Fang Yao-Yu was a famous numismatist in Tientsin during the late Qing and early Republic periods, and one of the most renowned ancient coin collectors of the Republican era. Bowker, on the other hand, came from a U.S. Navy background and later became an important Western scholar and collector of Chinese coinage. Though they lived in different countries and eras, a group of Chinese ancient coins created a remarkable collecting connection between them.

to the Shanghai Mint Museum, the Moritzburg Museum in Germany, and the National Numismatic Collection (NNC) at the Smithsonian National Museum of American History. Some items were sold through Champion Auction, with the proceeds going to the NNC Bowker Numismatic Fund.

Fang in the North, Zhang in the South, and Luo in Ba-Shu in the Republic Period

民國泉壇的“北方南張巴蜀羅”

To discuss Fang Yao-yu, one cannot avoid the broader landscape of the Republican-era numismatic community. At the time, ancient coin collectors spoke of "Fang in the North, Zhang in the South, and Luo in Ba-Shu," referring to the three giants: Fang Yao-yu in the north, Zhang Shuxun (Nai-Chi Chang) in the south, and Luo Bozhao in Sichuan. A portion of the ancient coins in this auction also come from the Zhang Shuxun Collection. Zhang Shuxun was a descendant of the Zhang family of Nanxun; his father, Zhang Shiming, was a renowned bibliophile. Zhang Shuxun's own collection of ancient coins was extremely rich, and he was known as the "King of Chinese Ancient Coins." In the 1990s, part of Zhang Shuxun's collection of ancient coins was returned to his son, Nelson Chang, in Shanghai, and later taken to the United States.

How Bowker and Fang Yao-Yu Met

According to correspondence between Bowker and Eduard Kann, Bowker came to know Fang Yao-Yu through Arthur Coole. This relationship had a profound influence on Bowker's system of ancient Chinese coin collection— many of the ancient coins in his collection came from the Fang Yao-Yu Collection, with knife coins being a particularly prominent part.

包克（Howard F. Bowker）與方藥雨是20世紀中國錢幣收藏史上繞不開的兩個名字。方藥雨是清末民初天津的著名泉家，也是民國時期最為著名的古錢收藏家之一。包克則是美國海軍出身、後來成為西方研究中國錢幣的重要學者及藏家。兩人雖身處不同國度與時代，卻因為一批中國古錢產生了奇妙的收藏接力。談方藥雨，不能不提民國泉壇的格局。當時古錢收藏界有“北方南張巴蜀羅”之說，指的是北方方藥雨、南方張叔馴、巴蜀羅伯昭三位巨擘。本次拍賣也有部分出自張叔馴舊藏古錢。張叔馴是南潯張氏之後，其父張石銘為著名藏書家，家學深厚。張叔馴本人的古錢收藏極富，被譽為“古錢大王”。上世紀九十年代，張叔馴舊藏部分古錢在上海被歸還給其子張南琛，後攜往美國。

包克與方藥雨的相識

根據包克與耿愛德（ Eduard Kann ）的通信，包克是通過邱文明（Arthur Coole）認識方藥雨的。這段交往對包克的古錢收藏體系影響深遠――他收藏中有很多來自方藥雨舊藏的古錢，刀幣只是其中尤為突出的一部分。

方藥雨舊藏刀幣

方藥雨（方若）的藏品中，刀幣是相當重要的一塊。根據後來的追述，方藥雨曾藏有一批數量可觀的三字齊刀（ “齊法化” ），不僅數量多，品相也極佳，他本人還為此專門留有拓集。

包克刀幣收藏與歸宿

包克去世後，冠軍拍賣曾幫助包克家族捐贈超過 50 枚三字刀至上海造幣博物館、德國莫裏茨堡博物館和美國史密森國家歷史博物館國家錢幣收藏（NNC）。部分藏品經冠軍拍賣公司處理後，款項歸入 NNC 包克錢幣基金。

Knife Coins from Fang Yao-Yu Collection

Among Fang Yao-Yu's (Fang Ruo's) holdings, knife coins were a particularly important component. According to later accounts, Fang Yao-Yu once possessed a considerable quantity of three-character Qi knives ("Qi Fa Hua"), which were not only numerous but also in excellent condition. He himself even made special rubbing albums for them.

Bowker's Knife Coin Collection and Its Final Destination

After Bowker's passing, Champion Auction helped the Bowker family donate more than 50 three-character knives

Choice Bowker/Fang Yao-Yu Collection CHINA-WARRING STATES Three-Character Knife Coin - Qi Fa Hua

080

CHINA-WARRING STATES-STATE OF QI ND (400-220 B.C.) Three-Character Knife Coin - Qi Fa Hua, 181.0mm, 52.2g, GBCA EF 80, Bowker/Fang Yao-Yu Collection, choice 先秦三字刀・齊法化，通長 182.0mm，重 52.2g，GBCA美80，包克/方藥雨舊藏

US $800-1,600

Choice Bowker/Fang Yao-Yu Collection CHINA-WARRING STATES Three-Character Knife Coin - Qi Fa Hua

081

CHINA-WARRING STATES-STATE OF QI ND (400-220 B.C.) Three-Character Knife Coin - Qi Fa Hua, 173.0mm, 40.0g, GBCA EF 80, Bowker/Fang Yao-Yu Collection 先秦三字刀・齊法化，通長173.0mm，重40.0g，GBCA美80，包克/方藥雨舊藏

US $800-1,600

Choice Bowker/Fang Yao-Yu Collection CHINA-WARRING STATES Three-Character Knife Coin - Qi Fa Hua

082

CHINA-WARRING STATES-STATE OF QI ND (400-220 B.C.) Three-Character Knife Coin - Qi Fa Hua, 179.0mm, 56.6g, GBCA EF 80, Bowker/Fang Yao-Yu Collection 先秦三字刀・齊法化，通長179.0mm，重56.6g，GBCA美80，包克/方藥雨舊藏

US $800-1,600

Choice Bowker/Fang Yao-Yu Collection CHINA-WARRING STATES Three-Character Knife Coin - Qi Fa Hua

083

CHINA-WARRING STATES-STATE OF QI ND (400-220 B.C.) Three-Character Knife Coin - Qi Fa Hua, 186.0mm, 56.5g, GBCA EF 80, Bowker/Fang Yao-Yu Collection 先秦三字刀・齊法化，通長186.0mm，重56.5g，GBCA美80，包克/方藥雨舊藏

US $800-1,600

Choice Bowker/Fang Yao-Yu Collection CHINA-WARRING STATES Three-Character Knife Coin - Qi Fa Hua

084

CHINA-WARRING STATES-STATE OF QI ND (400-220 B.C.) Three-Character Knife Coin - Qi Fa Hua, with character "Bu" on reverse, 181.0mm, 49.1g, GBCA EF 80 (05), Bowker/Fang Yao-Yu Collection 先秦三字刀・齊法化，背“蔔” ，通長181.0mm，重49.1g，GBCA美80(05)，包克/方藥雨舊藏

US $600-1,200

Choice Bowker/Fang Yao-Yu Collection CHINA-WARRING STATES Three-Character Knife Coin - Qi Fa Hua

085

CHINA-WARRING STATES-STATE OF QI ND (400-220 B.C.) Three-Character Knife Coin - Qi Fa Hua, with character "Tu" on reverse, 175.0mm, 46.7g, GBCA Genuine, Bowker/Fang Yao-Yu Collection 先秦三字刀・齊法化，背“土” ，通長 175.0mm，重 46.7g，GBCA真品，包克/方藥雨舊藏。

US $300-600

Auction Result(s): 4/2025, Shanghai, GBCA 82, realized RMB 14,950 (USD 2,199)

拍賣記錄： 2025年4月，上海，GBCA 美 82，成交價14,950元人民幣（2,199美元）

086

(1) CHINA-WARRING STATES ND Ming Knife Coin, GBCA EF 82, Bowker/Fang Yao-Yu Collection (2) CHINA-WARRING STATES ND Ming Knife Coin, GBCA EF 80, Bowker/Fang Yao-Yu Collection (3) CHINA-WARRING STATES ND Ming Knife Coin, GBCA EF 80, Bowker/Fang Yao-Yu Collection Total 3 pieces （1）先秦明刀，GBCA美82，包克/方藥雨舊藏（2）先秦明刀，GBCA美80，包克/方藥雨舊藏（3）先秦明刀，GBCA美80，包克/方藥雨舊藏共3枚

US $100-200

087

(1) CHINA-WARRING STATES ND Ming Knife Coin, GBCA EF 78 (07), Bowker/Fang Yao-Yu Collection (2) CHINA-WARRING STATES ND Ming Knife Coin, GBCA EF 78 (07), Bowker/Fang Yao-Yu Collection (3) CHINA-WARRING STATES ND Ming Knife Coin, GBCA EF 78 (07), Bowker/Fang Yao-Yu Collection (4) CHINA-WARRING STATES ND Ming Knife Coin, GBCA Genuine, Bowker/Fang Yao-Yu Collection Total 4 pieces （1）先秦明刀，GBCA美78(07)，包克/方藥雨舊藏（2）先秦明刀，GBCA美78(07)，包克/方藥雨舊藏（3）先秦明刀，GBCA美78(07)，包克/方藥雨舊藏（4）先秦明刀，GBCA真品，包克/方藥雨舊藏共4枚

US $100-200

Choice Arthur Coole Collection CHINA-WARRING STATES ND Square Shoulder Hollow Handle Spade Coin

088

CHINA-WARRING STATES ND Sloping Shoulder Hollow Handle Spade Coin, 85.1*44.3*1.6mm, 21.3g, GBCA EF 80, Arthur Coole Collection. 先秦斜肩空首布，85.1*44.3*1.6mm，21.3g，GBCA美80，邱文明舊藏。

US $300-600

Choice Arthur Coole Collection CHINA-WARRING STATES ND Square Shoulder Hollow Handle Spade Coin

089

CHINA-WARRING STATES ND Sloping Shoulder Hollow Handle Spade Coin, 88.4*45.2*1.3mm, 22.4g, GBCA EF 80, Arthur Coole Collection. 先秦斜肩空首布，88.4*45.2*1.3mm，22.4g，GBCA美80，邱文明舊藏。

US $300-600 42