This piece belongs to China's Lunar Gold series, which the People's Bank of China launched in 1981 as an explicit hard-currency export product — the coins were never intended for domestic circulation and were sold almost entirely through foreign dealers and banks to capture overseas demand for investment-grade gold. The 1997 Ox issue was produced at a moment when Hong Kong's handover was dominating international attention toward China, and export premiums on Chinese gold issues that year reflected unusually strong collector demand.
Mintages for the kilogram-class lunar pieces were tightly restricted, typically in the low hundreds.
This piece belongs to China's Lunar Gold series, which the People's Bank of China launched in 1981 as an explicit hard-currency export product — the coins were never intended for domestic circulation and were sold almost entirely through foreign dealers and banks to capture overseas demand for investment-grade gold. The 1997 Ox issue was produced at a moment when Hong Kong's handover was dominating international attention toward China, and export premiums on Chinese gold issues that year reflected unusually strong collector demand.
Mintages for the kilogram-class lunar pieces were tightly restricted, typically in the low hundreds.