China (1903) tael KM-Pn295

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Stack's Bowers April 2021 Hong Kong sale, lot 50006
SB421-50006r.jpg

This specimen was lot 50006 in Stack's Bowers Hong Kong auction (Hong Kong, April 2021), where it sold for $840,000. The catalog description[1] noted,

"Attractive Hu-Poo Tael. CHINA. Silver Tael Pattern, Year 29 (1903). Tientsin Mint. PCGS SPECIMEN-55 Gold Shield. This charming and wholly original looking large size silver issue boasts intricate motifs with finely engraved calligraphy. The surfaces exhibit gentle signs of handling consistent for the grade, all while displaying an attractive, mottled gray patina with areas of richer coloration near the edges and among the devices. This important and popular type, seldom encountered on the open market, is highly coveted sure to be a welcome addition to the next collection into which it enters.

Although struck at the Tientsin mint, the original dies were ordered from and prepared by the Osaka mint in Japan under the supervision of Robert Hart, Inspector General of Maritime Customs. The initial goal was an early attempt to unify Chinese coinage on the gold standard, producing denominations in 1 Tael and 1/2, 1, 2 & 5 Mace. The project never went into full production for a few reasons. First, the outlined plan called for one central mint to be responsible for coinage production to insure the uniformity of the new coinage, which the directors of the provincial mints heavily resisted due to potential profit cuts. Also, at this time in China, there was no plan in place to deal with the vastly different types of paper money circulating and how to accept them in exchange. From the Pinnacle Collection."

Recorded mintage: unknown.

Specification: 35 g, 0.900 fine silver.

Catalog reference: L&M-1; K-927; KM-Pn295; WS-0016; Wenchao-pg. 117#79 (rarity four stars); Chang Foundation-pg. 70#29 (rarity four stars); Shanghai Museum-Mr. Shi Jiagan's collection-pg. 10#39.

Source:

  • Michael, Thomas, and Tracy L. Schmidt, Standard Catalog of World Coins, 1901-2000, 47th ed., Iola, WI: Krause Publications, 2019.
  • Kann, Eduard. Illustrated Catalog of Chinese Coins, Vol. 1 of 3. Bronx, NY: Ishi Press International, 2006.
  • Lin Gwo Ming, Illustrated Catalogue of Chinese Gold & Silver Coins: Ching and Republican Issues, Seventh Edition, Hong Kong: Ma Tak Wo Numismatic Co., Ltd., 2012.
  • [1]Orsini, Matt, Kyle Ponterio and Jeremy Bostwick, The April 2021 Hong Kong Auction, Costa Mesa, CA: Stack's Bowers LLC, 2021.

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