Chinese Coins
Except otherwise stated, all results include the premium.
See also : 20th century coins
See also : 20th century coins
Intro
The Sino-Japanese war for the control of Korea ends in April 1895 in a military and economic disaster for the Qing dynasty, more threatened than ever by foreign intrusions. The young Guangxu Emperor was a mere puppet to Empress Dowager Cixi. However he tries to modernize China on the Meiji model.
The firm of Otto Beh in Esslingen, Germany carved some dies for the use of Chinese provinces between 1897 and 1899. These provinces were Sinkiang, Anhwei, Chekiang, and Fengtien.
The Sinkiang coins were milled in the province. The obverse is in Chinese and Manchu, with ideograms and texts identifying the source of the strike. The reverse is centered by the full front dragon with pearl, plus a circular text in Latin script on the border. Sinkiang is referred as Sungarei.
From that first Sungarei series, the denominations of 1 and 2 Mace were released to circulation while the 4 Mace and 1 Yuan were only made as patterns. The 1 yuan is inscribed with its weight of 7 Mace 2 Candareens.
The Sungarei yuan is not dated but tentatively attributed to 1897. 5 examples are known in silver. One of them is graded Specimen 40 by PCGS. It was sold for $ 360K by Stack's Bowers on October 15, 2024, lot 41211.
In the same sale a Sungarei 4 Mace pattern coin in copper from the same period was sold for $ 36K, lot 41212. Four other patterns are known of that series of 4 Mace, respectively in silver, silvered bronze and two in brass.
The firm of Otto Beh in Esslingen, Germany carved some dies for the use of Chinese provinces between 1897 and 1899. These provinces were Sinkiang, Anhwei, Chekiang, and Fengtien.
The Sinkiang coins were milled in the province. The obverse is in Chinese and Manchu, with ideograms and texts identifying the source of the strike. The reverse is centered by the full front dragon with pearl, plus a circular text in Latin script on the border. Sinkiang is referred as Sungarei.
From that first Sungarei series, the denominations of 1 and 2 Mace were released to circulation while the 4 Mace and 1 Yuan were only made as patterns. The 1 yuan is inscribed with its weight of 7 Mace 2 Candareens.
The Sungarei yuan is not dated but tentatively attributed to 1897. 5 examples are known in silver. One of them is graded Specimen 40 by PCGS. It was sold for $ 360K by Stack's Bowers on October 15, 2024, lot 41211.
In the same sale a Sungarei 4 Mace pattern coin in copper from the same period was sold for $ 36K, lot 41212. Four other patterns are known of that series of 4 Mace, respectively in silver, silvered bronze and two in brass.
1899 Kiang Nan 3 Mace and 6 Candareens
2022 SOLD for $ 1.2M by Stack's Bowers
In 1897 the American company Ferracute is awarded a contract to supply and install coin presses in the Chinese provinces at the request of the imperial government. The material is sent without delay and the transfer of technology is successfully carried out in 1898 in Szechuen to produce silver coins and the small brass coin, the tsen colloquially named cash.
For silver the biggest denomination is the yuan, translated as dollar in English. The word dollar does not appear, replaced by the weight in the units of the Chinese decimal system, mace and candareen, subdivisions of the tael.
That Chinese dollar is marked in English letters 7 mace and 2 candareens while the half dollar is 3 mace and 6 candareens. The emitting province is indicated on the same side which is centered on the effigy of a dragon. The other side is inscribed in Chinese characters.
Some other provinces immediately follow Szechuen with the same conception. Also in 1898 the Guangxu emperor attempted to start an ambitious reform program which was halted by a military coup organized by Cixi. These events culminated in 1899 in the Boxer wars. Curiously the provincial coinage of American origin was to survive this xenophobic phase.
An undated Shen-Si Province silver pattern coin of 1898 of 3 mace and 6 candareens was sold for $ 600K by Stack's Bowers on October 7-8, 2021, lot 23062. It is graded SP-63 by PCGS.
A 'dragon dollar' 1898-1899 'Cheh-Kiang Province' graded MS-66 by NGC was sold for $ 440K by Heritage on June 28, 2018, lot 30074. In the sam sale, the half dollar of same period and same province graded MS-67 was sold for $ 106K, lot 30073 and the 1899 half dollar 'Kiang Nan Province' graded MS-62-Prooflike for $ 310K, lot 30088.
A Kiang Nan coin of 3 mace and 6 candareens inscribed as a so-called 'prowing' coin was sold for $ 1.2M from a lower estimate of $ 300K by Stack's Bowers on May 4, 2022, lot 51040.
This undated coin comes from a 1899 issue made in the Nanking mint. That local operation was stopped for financial problems in 1900 and that factory reopened in 1901 after the Boxer wars.
That circulating variety is highly rare. Graded MS-62+ Prooflike by PCGS, the above example fully formed rims of no surface markings. With its multiple times striking, it certainly had been a specimen. Only 3 other coins are known, all of them graded Almost uncirculated.
For silver the biggest denomination is the yuan, translated as dollar in English. The word dollar does not appear, replaced by the weight in the units of the Chinese decimal system, mace and candareen, subdivisions of the tael.
That Chinese dollar is marked in English letters 7 mace and 2 candareens while the half dollar is 3 mace and 6 candareens. The emitting province is indicated on the same side which is centered on the effigy of a dragon. The other side is inscribed in Chinese characters.
Some other provinces immediately follow Szechuen with the same conception. Also in 1898 the Guangxu emperor attempted to start an ambitious reform program which was halted by a military coup organized by Cixi. These events culminated in 1899 in the Boxer wars. Curiously the provincial coinage of American origin was to survive this xenophobic phase.
An undated Shen-Si Province silver pattern coin of 1898 of 3 mace and 6 candareens was sold for $ 600K by Stack's Bowers on October 7-8, 2021, lot 23062. It is graded SP-63 by PCGS.
A 'dragon dollar' 1898-1899 'Cheh-Kiang Province' graded MS-66 by NGC was sold for $ 440K by Heritage on June 28, 2018, lot 30074. In the sam sale, the half dollar of same period and same province graded MS-67 was sold for $ 106K, lot 30073 and the 1899 half dollar 'Kiang Nan Province' graded MS-62-Prooflike for $ 310K, lot 30088.
A Kiang Nan coin of 3 mace and 6 candareens inscribed as a so-called 'prowing' coin was sold for $ 1.2M from a lower estimate of $ 300K by Stack's Bowers on May 4, 2022, lot 51040.
This undated coin comes from a 1899 issue made in the Nanking mint. That local operation was stopped for financial problems in 1900 and that factory reopened in 1901 after the Boxer wars.
That circulating variety is highly rare. Graded MS-62+ Prooflike by PCGS, the above example fully formed rims of no surface markings. With its multiple times striking, it certainly had been a specimen. Only 3 other coins are known, all of them graded Almost uncirculated.
1906 Pattern Tael Restrike
2021 SOLD for $ 1.35M by Stack's Bowers
In 1903 CE the Chinese government desired to unify the coinage in five denominations, 1 Tael and 1/2, 1, 2 and 5 Mace. Pattern coins were produced in Tianjin from dies prepared in Osaka. The Tianjin mint had been re-established after its destruction during the Boxer rebellion of 1900.
A silver pattern tael dated 29th year of Kuang Hsu graded SP-55 by PCGS was sold for $ 840K by Stack's Bowers on April 6, 2021, lot 50006.
The silver tael pattern restrike made in 1906 in Tianjin is of high rarity with less than 40 examples graded by PCGS. The unique highest graded is an SP66 by PCGS. It was sold for $ 810K by Heritage on June 18, 2025, lot 34010. Please watch the first and second videos shared by the auction house.
An example graded SP65 by PCGS was sold for $ 1.35M from a lower estimate of $ 200K by Stack's Bowers on December 2, 2021, lot 42054. Please watch the video shared by the auction house.
The project was terminated before operational production due to the resistance of the provinces against a central Chinese mint.
A silver pattern tael dated 29th year of Kuang Hsu graded SP-55 by PCGS was sold for $ 840K by Stack's Bowers on April 6, 2021, lot 50006.
The silver tael pattern restrike made in 1906 in Tianjin is of high rarity with less than 40 examples graded by PCGS. The unique highest graded is an SP66 by PCGS. It was sold for $ 810K by Heritage on June 18, 2025, lot 34010. Please watch the first and second videos shared by the auction house.
An example graded SP65 by PCGS was sold for $ 1.35M from a lower estimate of $ 200K by Stack's Bowers on December 2, 2021, lot 42054. Please watch the video shared by the auction house.
The project was terminated before operational production due to the resistance of the provinces against a central Chinese mint.
@stacksbowers Lot 42054 in the December 2021 Collectors Choice Online Auction of Vintage & Modern Chinese Coins sold last night for an astounding price of $1,350,000. pic.twitter.com/pZ6qOhcWHF
— Stack's Bowers (@StacksBowers) December 2, 2021
1908 7 Mace and 2 Candareens Tai-Ching-Ti-Kuo
2021 SOLD for $ 1.26M by Stack's Bowers
From 1906 the silver coinage from the Tianjin Mint was referred as the Tai-Ching-Ti-Kuo meaning The Great Qing Empire. That factory was just restarted after the disastrous 1900 Boxer wars.
A 1907 Tai-Ching-Ti-Kuo pattern dollar graded MS-65+ by PCGS was sold for $ 500K by Stack's Bowers on April 6, 2021, lot 50008. Please watch the Coin in motion shared by the auction house.
An undated silver coin made in 1908 of 7 mace and 2 candareens worth 1 dollar, graded SP64+ by PCGS, was sold for $ 1.26M from a lower estimate of $ 150K by Stack's Bowers on December 2, 2021, lot 42043. Made in 1908 in the Tianjin Mint, it has the Tai-Ching-Ti-Kuo inscription. Please watch the video shared by the auction house.
With the same face value, a coin marked Pei Yang and dated 34th year of Kuang Hsu was sold for $ 960K by Stack's Bowers in the same sale as above, lot 42044. That reign date matches 1908 CE.
These trials for a Qing dollar were interrupted by a restart of the provincial dissents at the death of the Guangxu emperor (Western spelling Kuang-hsü), replaced by a three year old child in November 1908.
A 1907 Tai-Ching-Ti-Kuo pattern dollar graded MS-65+ by PCGS was sold for $ 500K by Stack's Bowers on April 6, 2021, lot 50008. Please watch the Coin in motion shared by the auction house.
An undated silver coin made in 1908 of 7 mace and 2 candareens worth 1 dollar, graded SP64+ by PCGS, was sold for $ 1.26M from a lower estimate of $ 150K by Stack's Bowers on December 2, 2021, lot 42043. Made in 1908 in the Tianjin Mint, it has the Tai-Ching-Ti-Kuo inscription. Please watch the video shared by the auction house.
With the same face value, a coin marked Pei Yang and dated 34th year of Kuang Hsu was sold for $ 960K by Stack's Bowers in the same sale as above, lot 42044. That reign date matches 1908 CE.
These trials for a Qing dollar were interrupted by a restart of the provincial dissents at the death of the Guangxu emperor (Western spelling Kuang-hsü), replaced by a three year old child in November 1908.
1910 Yunnan Spring Dollar
2010 SOLD for US $ 1.06M by Champion Hong Kong
Yunnan is one of the most remote provinces of China. In 1905 the total population was around 85,000 only. The development of this mountainous region is a must. A coin production mint is established in Kunming, the regional capital. From 1908 until the fall of the Qing in 1912 it issues silver dollars identifying the name of the emperor.
The region is bordering Tonkin. The railway line connecting Haiphong to Kunming is an entirely French project with the authorization of the Chinese government. The rail reaches Kunming on April 1, 1910 after seven years of work in extremely severe conditions.
A 1 dollar silver coin surfaced in 1920. Its characteristics are unusual. An inscription in four Chinese characters on the reverse indicates that it was made in the spring of a year corresponding to 1910, defined in the calendar cycle of 60 years and not by the year of the reign. This is the only known example of a Chinese coinage naming a season. An English inscription on the side of the dragon recalls the Chinese value of 7 mace and 2 candareens and the production in the province of Yun-Nan.
This piece was considered unique after three runs of fakes had been identified. Graded AU55 by NGC, it was sold for US $ 1.06M by Champion Hong Kong on August 22, 2010, lot 12 here linked on LiveAuctioneers bidding platform.
A few months later, another coin was authenticated. NGC and Champion testified that it was struck with the same dies as the discovery coin. Graded AU58 by NGC, it was sold twice by Heritage : for $ 550K on September 8, 2011 and for $ 660K on July 12, 2020, lot 30141.
The two surviving pieces referred above are certified AU (Almost Uncirculated) by NGC. This variety has thus the characteristics of a pattern coin which has not been followed by production. Champion supports the very plausible hypothesis of the project of a presentation coin to celebrate the completion of the rail line.
The 2020 Heritage catalog announces a total population of three units certified by NGC.
The region is bordering Tonkin. The railway line connecting Haiphong to Kunming is an entirely French project with the authorization of the Chinese government. The rail reaches Kunming on April 1, 1910 after seven years of work in extremely severe conditions.
A 1 dollar silver coin surfaced in 1920. Its characteristics are unusual. An inscription in four Chinese characters on the reverse indicates that it was made in the spring of a year corresponding to 1910, defined in the calendar cycle of 60 years and not by the year of the reign. This is the only known example of a Chinese coinage naming a season. An English inscription on the side of the dragon recalls the Chinese value of 7 mace and 2 candareens and the production in the province of Yun-Nan.
This piece was considered unique after three runs of fakes had been identified. Graded AU55 by NGC, it was sold for US $ 1.06M by Champion Hong Kong on August 22, 2010, lot 12 here linked on LiveAuctioneers bidding platform.
A few months later, another coin was authenticated. NGC and Champion testified that it was struck with the same dies as the discovery coin. Graded AU58 by NGC, it was sold twice by Heritage : for $ 550K on September 8, 2011 and for $ 660K on July 12, 2020, lot 30141.
The two surviving pieces referred above are certified AU (Almost Uncirculated) by NGC. This variety has thus the characteristics of a pattern coin which has not been followed by production. Champion supports the very plausible hypothesis of the project of a presentation coin to celebrate the completion of the rail line.
The 2020 Heritage catalog announces a total population of three units certified by NGC.
1911 Long Whisker Dragon Pattern Dollar
Intro
The standardization of the currency is essential for maintaining some political unity in China. The production of coins is centralized in Tianjin and the dollar replaces the complicated system based on fractions of the tael.
The Tianjin mint survives the changes of regime : the fall of the Qing is followed by the republic, established on January 1, 1912, interrupted in 1915 by the self-proclamation of its president Yuan Shikai as emperor and restored after his death in 1916.
From 1910 to 1920 the head designer and chief engraver of the Tianjin mint was Luigi Giorgi on whom biographical details are scarce. He produced several designs of silver coins, some of which were signed with his name. His coins are drawn and engraved with great sharpness. His One Dollar with the Dragon in the Clouds, dated to the 3rd year of the child emperor Xuantung which is 1911 CE, is the last imperial coinage of the Qing.
Designed in the same year by Luigi Giorgi, the silver dollar with the Long Whiskers Dragon was not released for circulation. Its pattern coins are beautifully struck on specially prepared surface.
The fall of the Qing makes the dragon obsolete. This imperial symbol is soon replaced by the portrait of Yuan Shikai. The silver dollars with this effigy dated to the year 3 of the Republic, 1914 CE, were also prepared in Tianjin by Giorgi.
The Tianjin mint survives the changes of regime : the fall of the Qing is followed by the republic, established on January 1, 1912, interrupted in 1915 by the self-proclamation of its president Yuan Shikai as emperor and restored after his death in 1916.
From 1910 to 1920 the head designer and chief engraver of the Tianjin mint was Luigi Giorgi on whom biographical details are scarce. He produced several designs of silver coins, some of which were signed with his name. His coins are drawn and engraved with great sharpness. His One Dollar with the Dragon in the Clouds, dated to the 3rd year of the child emperor Xuantung which is 1911 CE, is the last imperial coinage of the Qing.
Designed in the same year by Luigi Giorgi, the silver dollar with the Long Whiskers Dragon was not released for circulation. Its pattern coins are beautifully struck on specially prepared surface.
The fall of the Qing makes the dragon obsolete. This imperial symbol is soon replaced by the portrait of Yuan Shikai. The silver dollars with this effigy dated to the year 3 of the Republic, 1914 CE, were also prepared in Tianjin by Giorgi.
1
SP63+ by PCGS
2022 SOLD for $ 3M by Stack's Bowers
A long whisker dragon pattern silver dollar graded SP63+ by PCGS was sold in Hong Kong for US $ 3M from a lower estimate of $ 750K on May 4, 2022 by Stack's Bowers, lot 51134. Please watch the Coin in motion shared by the auction house. Its variety is L&M-28; Kann-223; KM-Pn304; WS-0040; Chang-CH27; Wenchao-105.
The experimental strike included some variations. This pattern coin has stylistic differences in the Manchu script and the leaves on the reverse.
The experimental strike included some variations. This pattern coin has stylistic differences in the Manchu script and the leaves on the reverse.
2
PR63 by NGC
2021 SOLD for $ 1.2M by Heritage
A long whisker dragon pattern silver dollar graded PR63 by NGC was sold for $ 1.2M by Heritage on December 11, 2021, lot 34011. It belongs to the variety with incused veins on the outer leaves (KM-Pn305, L&M-28, Kann-223a, Chang-CH26, WS-0040). Please watch the videos shared by the auction house.
A long whisker dragon pattern silver dollar graded SP64 by PCGS was sold for $ 1.02M by Stack's Bowers on April 6, 2021, lot 50009. Its reverse design is close to the final iteration, in an artistic Manchu calligraphy. Its variety is L&M-29, Kann-223b, KM-Pn306, Chang-CH28; Wenchao-108;
The best surviving long whisker dragon is graded SP-65 by NGC. It was sold for $ 430K by Bowers and Merena on December 4, 2010 and for $ 460K by Stack's Bowers on October 6, 2020, lot 41244. Its variety is the same as the last example above.
A long whisker dragon pattern silver dollar graded SP64+ by NGC was sold for $ 630K by Heritage on December 9, 2023, lot 34012. It belongs to the variety with raised veins in outer leaves (KM-Pn304, L&M-28, Kann-223, WS-0040, Wenchao-105).
In the same variety, an example graded SP63 by NGC was sold for $ 690K by Heritage on June 21, 2023, lot 30031. Its preservation is excellent including its sharp striking, clear contrast, fine die polish and untoned surfaces that bring a cameo-like appearance.
A long whisker dragon pattern silver dollar graded SP64 by PCGS was sold for $ 1.02M by Stack's Bowers on April 6, 2021, lot 50009. Its reverse design is close to the final iteration, in an artistic Manchu calligraphy. Its variety is L&M-29, Kann-223b, KM-Pn306, Chang-CH28; Wenchao-108;
The best surviving long whisker dragon is graded SP-65 by NGC. It was sold for $ 430K by Bowers and Merena on December 4, 2010 and for $ 460K by Stack's Bowers on October 6, 2020, lot 41244. Its variety is the same as the last example above.
A long whisker dragon pattern silver dollar graded SP64+ by NGC was sold for $ 630K by Heritage on December 9, 2023, lot 34012. It belongs to the variety with raised veins in outer leaves (KM-Pn304, L&M-28, Kann-223, WS-0040, Wenchao-105).
In the same variety, an example graded SP63 by NGC was sold for $ 690K by Heritage on June 21, 2023, lot 30031. Its preservation is excellent including its sharp striking, clear contrast, fine die polish and untoned surfaces that bring a cameo-like appearance.
December's Hong Kong #Coins, #Currency Events Arrive Right on Time.
— Heritage Auctions (@HeritageAuction) December 7, 2021
Numerous highlights come available amid surge in interest in adding #AsianCurrency to collections.https://t.co/py5c8UE4xP#Numistatics pic.twitter.com/Tn8eeJ8U8A
1911 Reversed Dragon Pattern Dollar
2023 SOLD for $ 1.38M by Stack's Bowers
The Reversed Dragon designates a pattern silver dollar coin from the 3rd and last year of the Xuantong emperor matching 1911 CE. The body of the dragon is coiled counterclockwise. It is one of the patterns where the ONE DOLLAR inscription supersedes the designation of 7 mace and 2 candareens in English letters. No other English inscription appears.
This pattern was followed in the same year by the One Dollar minted for circulation in Tianjin with a production run of nearly 80 million, designated as the One Dollar with the Dragon in the Clouds, where the body of the dragon is clockwise. The immediate fall of the Qing obsoleted the dragon design. All the pattern and production coins of 1911 were designed by Luigi Giorgi.
The reversed dragon pattern is extremely rare but exists in two variants differentiated in the hatched texture of the outer leaves. An example of the variety II in specimen condition, graded SP-65 by PCGS, was sold for $ 1.38M from a lower estimate of $ 750K by Stack's Bowers on April 17, 2023, lot 40162. Please watch the video shared by the auction house.
Another specimen of the same variety, graded SP-64 by PCGS, was sold for $ 210K by Stack's Bowers on May 5, 2020, lot 41345. Another one, graded SP-62 by PCGS, was sold for $ 108K by Stack's Bowers in April 2015, lot 10211.
This pattern was followed in the same year by the One Dollar minted for circulation in Tianjin with a production run of nearly 80 million, designated as the One Dollar with the Dragon in the Clouds, where the body of the dragon is clockwise. The immediate fall of the Qing obsoleted the dragon design. All the pattern and production coins of 1911 were designed by Luigi Giorgi.
The reversed dragon pattern is extremely rare but exists in two variants differentiated in the hatched texture of the outer leaves. An example of the variety II in specimen condition, graded SP-65 by PCGS, was sold for $ 1.38M from a lower estimate of $ 750K by Stack's Bowers on April 17, 2023, lot 40162. Please watch the video shared by the auction house.
Another specimen of the same variety, graded SP-64 by PCGS, was sold for $ 210K by Stack's Bowers on May 5, 2020, lot 41345. Another one, graded SP-62 by PCGS, was sold for $ 108K by Stack's Bowers in April 2015, lot 10211.
1914 Silver Pattern Dollar
2022 SOLD for $ 1.17M by Stack's Bowers
After the fall of the Qing in 1911 CE, Yuan Shikai was the only candidate able to maintain some tradition in the following of the fallen Empire. This former military officer soon controlled the power against the revolutionary Kuomintang.
In 1914 he struck silver dollars in his image, superseding the dragon on the obverse of the Chinese dollar silver coin. The new coins were still designed by Luigi Giorgi in Tianjin.
A pattern coin from that 3rd year of the Chinese republic features President Yuan full front in bust in military attire including a tall hat and epaulettes. It is signed L. GIORGI on that side. The best specimen in PCGS registry, graded SP-67, was sold for $ 1.17M from a lower estimate of $ 100K by Stack's Bowers on May 4, 2022, lot 51163.
A pattern dollar from the same year features the same man in three quarter length bare headed bust and military attire. A specimen graded SP-58 by PCGS was sold for $ 500K by Stack's Bowers on April 6, 2021, lot 50010.
The circulation dollar of that year will not be one of the above but a military bust in full profile to the left of the President.
Caught in a political whirlwind, Yuan Shikai believed he could maintain his power by self-proclaiming himself as emperor, on December 12, 1915. Thus began on January 1, 1916 the year 1 of Yuan with the reign name Hung Hsien, a politically ambiguous name meaning "constitutional abundance".
This was quite ephemeral. His military colleagues disapproved the initiative, and moreover he was sick. The last Chinese emperor abdicated on March 22, 1916, and died on June 6.
Giorgi retired in 1920 from his position of head designer and chief engraver at Tianjin.
In 1914 he struck silver dollars in his image, superseding the dragon on the obverse of the Chinese dollar silver coin. The new coins were still designed by Luigi Giorgi in Tianjin.
A pattern coin from that 3rd year of the Chinese republic features President Yuan full front in bust in military attire including a tall hat and epaulettes. It is signed L. GIORGI on that side. The best specimen in PCGS registry, graded SP-67, was sold for $ 1.17M from a lower estimate of $ 100K by Stack's Bowers on May 4, 2022, lot 51163.
A pattern dollar from the same year features the same man in three quarter length bare headed bust and military attire. A specimen graded SP-58 by PCGS was sold for $ 500K by Stack's Bowers on April 6, 2021, lot 50010.
The circulation dollar of that year will not be one of the above but a military bust in full profile to the left of the President.
Caught in a political whirlwind, Yuan Shikai believed he could maintain his power by self-proclaiming himself as emperor, on December 12, 1915. Thus began on January 1, 1916 the year 1 of Yuan with the reign name Hung Hsien, a politically ambiguous name meaning "constitutional abundance".
This was quite ephemeral. His military colleagues disapproved the initiative, and moreover he was sick. The last Chinese emperor abdicated on March 22, 1916, and died on June 6.
Giorgi retired in 1920 from his position of head designer and chief engraver at Tianjin.
1928 Posthumous Chang Tso-lin Pattern Silver Dollar
Intro
When the central government is weak, warlords seek to establish military dictatorships. The money has kept the memory of Roman usurpers. In the early twentieth century, coins also provided the image of ephemeral rulers of China.
Zhang Zuolin (Chang Tso-lin) was one of these power-hungry generals. Having become the master of Manchuria after supporting the Japanese, he managed to win several provinces and to control Beijing in 1927. He then took the extravagant title of Grand Marshal of the military government of the Republic of China.
A gold coin of 50 yuan is then prepared in Tianjin, with his image in military uniform. The other side is dated to the sixteenth year of the Republic, assessing that Zhang had not, or not yet, the imperial ambitions of Yuan Shikai. Only a few prototypes of this coin was made. It is nevertheless important in the history of Chinese numismatics, because it is the largest gold coin of the Republic.
It is known in two copies only. One of them, which was presented to Zhang, was kept by his family. Remained in uncirculated condition, this piece of outstanding quality was sold for HK $ 4.4M by Bonhams on November 24, 2012, lot 500.
The new leader of the Kuomintang (Guomindang), Chiang Kai Shek (Jiang Jieshi), set out to reunify China. Chang Tso-lin lost Beijing on June 3, 1928. The next day, he died in the explosion of his private train, perpetrated by a rival faction. His son Chang Hsueh-liang (Zhang Xueliang), nicknamed the Young Marshal, succeeds him.
Currency is essential to ensure the loyalty of soldiers, especially in a civil war. Since 1912, the official currency of the Republic of China has been the dollar.
A silver dollar was prepared with the effigy of Chang Tso-lin in civilian dress on the year of Republic 17, 1928 CE. Its text announces it as memorial, which suggests that it is posthumous. Its terminus ante quem is December 29, 1928, when the Young Marshal rallies to the government of the Kuomintang. Having become politically incorrect, this coin will not be issued.
Zhang Zuolin (Chang Tso-lin) was one of these power-hungry generals. Having become the master of Manchuria after supporting the Japanese, he managed to win several provinces and to control Beijing in 1927. He then took the extravagant title of Grand Marshal of the military government of the Republic of China.
A gold coin of 50 yuan is then prepared in Tianjin, with his image in military uniform. The other side is dated to the sixteenth year of the Republic, assessing that Zhang had not, or not yet, the imperial ambitions of Yuan Shikai. Only a few prototypes of this coin was made. It is nevertheless important in the history of Chinese numismatics, because it is the largest gold coin of the Republic.
It is known in two copies only. One of them, which was presented to Zhang, was kept by his family. Remained in uncirculated condition, this piece of outstanding quality was sold for HK $ 4.4M by Bonhams on November 24, 2012, lot 500.
The new leader of the Kuomintang (Guomindang), Chiang Kai Shek (Jiang Jieshi), set out to reunify China. Chang Tso-lin lost Beijing on June 3, 1928. The next day, he died in the explosion of his private train, perpetrated by a rival faction. His son Chang Hsueh-liang (Zhang Xueliang), nicknamed the Young Marshal, succeeds him.
Currency is essential to ensure the loyalty of soldiers, especially in a civil war. Since 1912, the official currency of the Republic of China has been the dollar.
A silver dollar was prepared with the effigy of Chang Tso-lin in civilian dress on the year of Republic 17, 1928 CE. Its text announces it as memorial, which suggests that it is posthumous. Its terminus ante quem is December 29, 1928, when the Young Marshal rallies to the government of the Kuomintang. Having become politically incorrect, this coin will not be issued.
1
2021 SOLD for $ 2.3M by Stack's Bowers
A specimen graded SP-64 by PCGS of Chang Tso-lin's dollar was sold for 2.3M on April 6, 2021 in Hong Kong by Stack's Bowers, lot 50016.
2
2021 SOLD for $ 2.16M by Heritage
From the same posthumous variety as the example above, a coin graded MS62 by NGC was sold for $ 2.16M by Heritage on December 11, 2021, lot 34077.
#WorldCoins and World Paper Money Events Combine to Top $13.8 Million.
— Heritage Auctions (@HeritageAuction) December 14, 2021
'Mukden Tiger' dollar roars past $2.1 million to pace Heritage Auctions' biggest HKINF event.https://t.co/FemC1h3Ixu#Numistatics pic.twitter.com/7w5dAxiNAF
#HERITAGELIVE: An Incredible Example of the Rare Final Pattern Dollar of Chang Tso-li sells for $2,160,000 in our HKINF #WorldCoins Signature® Auction in Hong Kong.
— Heritage Auctions (@HeritageAuction) December 13, 2021
To date, between @NGCcoin & @PCGScoin combined, a mere 10 examples have been certified. https://t.co/T1i6L8G1qh pic.twitter.com/SlfYnGbCX4
