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Wednesday, June 5, 2019

Tiananmen Square protests lead to rarity of China’s 1989 Dragon and Phoenix coins

Jeff Starck

The outbreak of protests in Tiananmen Square in China in 1989 was felt in the coin hobby when some Chinese coins struck for U.S. sale suddenly became politically undesirable in the United States because of the crackdown.

Proof 1989 Dragon and Phoenix coins that had been prepared for release were instead withdrawn and melted, according to Swiss International Coin Auctions, Sincona Ag. Of the 2,538 gold and 7,328 silver coins originally minted, both in 2-ounce size, all but a few examples were melted.

A pair of these 1989 coins highlighted Sincona’s auction No. 33 on Oct. 25, 2016 during a week when it offered thousands of lots.

Read more at CoinWorld.

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