Chinese coinage justly can claim priority as to the dates of issue when compared with the achievements of the Occident. However, this country's bronze coins were not produced by machinery, but were cast into moulds.
China's modern coinage dates back to 1889 only, when the Canton provincial mint began activities; other provincial mints followed suit about one decade later. The output of those coinage plants consisted mainly of silver dollars, silver subsidiary pieces and nickel and copper coins. Side by side with such hard money sycee (silver bullion cast into "shoe" shape) circulated freely in China until its abolition by official Mandate of April 6, 1933, issued by the Central Political Council.
The Precursors of Modern Silver Coinage
Prior to the production of silver money in China by means of modern machinery large quantities of foreign silver pieces had a wide circulation there. The principal countries of origin were Spain (via the Philippines) represented by the Carolus dollar; the same country and Mexico by the widely circulated Mexican dollar; Hongkong through the British dollar; IndoChina represented by the Saigon paistre; Japan by the silver yen; and the United States who supplied to China the American Trade dollar. Besides, Austrian Maria Theresia Thalers as well as Peruvian, Venezuelan and other American dollar coins were found in circulation in China in the course of the past hundred years. However, all these coins, until comparatively recently, were not accepted by count, but instead by weight only on the basis of their fine content.
The First Chinese Made Dollars
Long before the inauguration of the regular minted silver dollars China could boast of such coins. These were not styled "dollars", nor "yuan", but have the inscription "7.2 Mace" in Chinese, a denomination which was maintained for China's future dollar coinage until about 1912. This nomenclature meant that the dollar coins merely were a means of payment put up in a convenient shape, but that they represented a fraction of the sycee tael, viz.,0.72 taels.
The immediate cause for the production of a home-made dollar coin was found in warfare. It was in the 17th year of Tao Kwang's reign (1837) that Chang Wen started a revolution in Formosa. For this purpose he needed a uniformly-shaped silver coin. It was of the size of the Spanish Carolus dollar and weighed 7 mace and 2 candareens. This first Chinese silver dollar exists in at least three slightly varying designs, mainly in the reproduction of the God of Longevity. To the left of the deity are, in seal script, the following characters 道古南鑄 meaning "Cast in the time of Tao Kwang". On the right border, symmetrically arranged and also in seal script, 足紋銀 , meaning "Silver cake of the standard purity". On the breast of the god are found four characters in ordinary letters 庫平柒弍 , denoting "Seven two by the Treaty balance." Looking at the reverse one finds in the center a sacrificial vase resting on three feet, surrounded by four characters in Manchu script. Those above and below signify "Formosa". On the left is found the character for Kyahi, probably standing for Kagi, a town situated 40 miles north of Tainan. On the right is seen the Manchu character for Hoo, which possibly is intended for "Treasury". The weight of this coin originally was 417.4 grains troy.
Although the writer possesses an original of this rare coin, it isowing to long wear and tear - no more in such a condition as to yield a good photographic reproduction. For this reason good drawing are substituted here by courtesy of the publication “Illustrations of Chinese Gold, Silver and Nickel Coins” by C.C. Tsiang.
China's modern coinage dates back to 1889 only, when the Canton provincial mint began activities; other provincial mints followed suit about one decade later. The output of those coinage plants consisted mainly of silver dollars, silver subsidiary pieces and nickel and copper coins. Side by side with such hard money sycee (silver bullion cast into "shoe" shape) circulated freely in China until its abolition by official Mandate of April 6, 1933, issued by the Central Political Council.
The Precursors of Modern Silver Coinage
Prior to the production of silver money in China by means of modern machinery large quantities of foreign silver pieces had a wide circulation there. The principal countries of origin were Spain (via the Philippines) represented by the Carolus dollar; the same country and Mexico by the widely circulated Mexican dollar; Hongkong through the British dollar; IndoChina represented by the Saigon paistre; Japan by the silver yen; and the United States who supplied to China the American Trade dollar. Besides, Austrian Maria Theresia Thalers as well as Peruvian, Venezuelan and other American dollar coins were found in circulation in China in the course of the past hundred years. However, all these coins, until comparatively recently, were not accepted by count, but instead by weight only on the basis of their fine content.
The First Chinese Made Dollars
Long before the inauguration of the regular minted silver dollars China could boast of such coins. These were not styled "dollars", nor "yuan", but have the inscription "7.2 Mace" in Chinese, a denomination which was maintained for China's future dollar coinage until about 1912. This nomenclature meant that the dollar coins merely were a means of payment put up in a convenient shape, but that they represented a fraction of the sycee tael, viz.,0.72 taels.
The immediate cause for the production of a home-made dollar coin was found in warfare. It was in the 17th year of Tao Kwang's reign (1837) that Chang Wen started a revolution in Formosa. For this purpose he needed a uniformly-shaped silver coin. It was of the size of the Spanish Carolus dollar and weighed 7 mace and 2 candareens. This first Chinese silver dollar exists in at least three slightly varying designs, mainly in the reproduction of the God of Longevity. To the left of the deity are, in seal script, the following characters 道古南鑄 meaning "Cast in the time of Tao Kwang". On the right border, symmetrically arranged and also in seal script, 足紋銀 , meaning "Silver cake of the standard purity". On the breast of the god are found four characters in ordinary letters 庫平柒弍 , denoting "Seven two by the Treaty balance." Looking at the reverse one finds in the center a sacrificial vase resting on three feet, surrounded by four characters in Manchu script. Those above and below signify "Formosa". On the left is found the character for Kyahi, probably standing for Kagi, a town situated 40 miles north of Tainan. On the right is seen the Manchu character for Hoo, which possibly is intended for "Treasury". The weight of this coin originally was 417.4 grains troy.
Although the writer possesses an original of this rare coin, it isowing to long wear and tear - no more in such a condition as to yield a good photographic reproduction. For this reason good drawing are substituted here by courtesy of the publication “Illustrations of Chinese Gold, Silver and Nickel Coins” by C.C. Tsiang.
Fig. 1
The Second Old Dollar
The second attempt to produce a Chinese-made dollar dates back to 1844, when a dollar piece without ornaments, but merely with Chinese inscriptions, was produced in Changchow, Fukien province. Originally it was 7.4 mace in weight, but soon it was produced in lighter weights, the depreciation aggregating 15 per cent. These coins equally served military needs. They soon disappeared from circulation and are exceedingly rare.
Fig. 2
The translation of the inscriptions reads as follows:
Obverse: Changchow district, for general circulation;
Reverse: Military rations, pure pattern.
The Third Dollar Pattern
Another dollar coin, now very rare, is the cause of much controversy. Undubitably it also thanks its origin to warfare. Here we have two distinct designs. Figure 3 is a ration coin for payment of the solidiery. It weighs 6.8 mace and was produced by Ling Kung during his uprising in the Fung-shan district, Formosa, in the third year of Hsien Fong(1853). Although made somewhat indistinct by extensive circulation I have succeeded in obtaining a fairly good photographic reproduction, which is given here.
Fig. 3
A second distinctly different type of another Formosa war issue is to be seen in figure 4. Same also weighs 6.8 mace, was issued by Tai Chao-chun during the uprising of Chang Hua in the first year of Tung Chi(1862).
Fig. 4
In the center of the obverse we find a legendary treasure fountain, on the body of which the inscription 聚寶盆 appears, meaning “never ending source.”To the right the character 軍 and to the left 餉 , meaning “military rations”. Below 足紋通行, denoting “pure pattern”, and standing for “general circulation.”
The reverse shows two crossed brushes, lotus and other symbols and to the right the character 府 and to the left 庫 , meaning “Treasury”. Below characters 六八足重 state the weight, namely 6.8 mace heavy.
Some years ago, when the coin (figure3) was shown to me, I failed to place it. In fact, neither the owner, nor myself had ever heard of it. I therefore raised the problem in the columns of “Finance & Commerce” and some months thereafter received an extensive reply from France.
Not withstanding the fact that the said explanatory reply came from China's foremost numismatist, the late Mr. Tracey Woodward, and that it was based on notes left by the wellknown Sinologue and collector, the late Mr. S.W. Bushell, it is not convincing. Then I believed, and my belief has since not been shaken, that these dollar pieces had their origin in Taiwan (Formosa), or else in the neighbouring Fukien Province; and certainly not in Peking. Mr. Woodward's letter, published in No.3 of the China Journal (September 1936) is cited here verbatim:
"Replying to your querry on page 343 of the June (Vol.XXIV, No.6) 1936 issue of the China Journal, the coin mentioned by Mr.E.Kann was not issued during the Taiping Rebellion. From a manuscript note made by the late S.W.Bushell which fell into my possession when I bought his collection in 1921, he mentions that this piece is a Treasury dollar minted in Peking about 1868. As the Taiping rebellion ended in 1865, the piece was evidently produced for other purposes. The characters, however, reveal that the coin was placed into circulation by means of payment to the imperial troops, as has been the case with many other coins in China. The obverse represents a vase containing branches with leaves, and the characters 府庫 (Fu Ku), i.e. "Treasury", and 軍餉 (Chun Hsiang), meaning "Military Rations". On the vase itself appears the character 寶 (Chu), which means "a tablet", generally an ancestral tablet. The reverse represents two lotus flowers with their stems crossed; at the dexter are the characters 足紋 (Tsu Wen). They translate "pure pattern". At the sinister we find 通行（Tung hang）, which means "for general circulation". In colloquial English, the obverse may be put down as:"Military payment of the Treasury". The reverse as "Current pure value."
The coin is not cast, but undoubtedly minted, either at a foundry or an arsenal, as has been the case with numerous Chinese coins, to wit: Kirin taels, Formosan and Fukien dollars, and so on. A remarkable fact is that all my pieces, like the one of Mr. E. Kann, have the character 六 (six) in an incused square, chopped on the reverse between the two stems of the lotus flowers. The coin is a great rarity now."
(signed) A.M. Tracey Woodward.
These two interesting coins are nowadays met with only very rarely. In all cases they are "chopped" and worn, so that one will hardly ever see a fine specimen.
The Fourth Group of Dollars
As their precursors the two distinct patterns of dollars were military ration coins. These pieces show no symbols, but only Chinese characters. The first dollar coin was produced by general Tseng Kuo-tsuen after the suppression of the Taiping rebellion at Changchow, Fukien province, in 1864/65, i.e. during the third year of the reign of Tung Chih.
The inscription (see fig.5) in translation reads as follows Obverse: Upper line "pure silver", below in two characters "Generally current". The reverse displays a horizontal legend in four Chinese characters, denoting "Changchow Commissariat", and below this iu quick handwriting "Value seventy-four", meaning 7.4 mace weight.
Fig. 5
The second dollar coin belonging to the same series in very similar in design. It was struck during the fourth year of Tung Chih (1865) by governor general Tsu Chung-tong at the time of the recapture of Changchow, Fukien province. As will be seen from figure 6 the legend is identical; only the size of the lettering is somewhat different. Also the inscription in quick handwriting of the weight differs considerably.
Though forgeries of these two coins are common, originals are difficult to obtain, especially in good shape. The few existing specimens are badly "chopped" and worn.
Though forgeries of these two coins are common, originals are difficult to obtain, especially in good shape. The few existing specimens are badly "chopped" and worn.
Fig. 6
The Last Group of Old Dollars
It was in 1888, the 14th year of emperor Kwang Hsu, that Kweichow province turned out by simple machinery a dollar coin with its subdivision of 50 cents. In conformity with existing custom these coins bore exclusively Chinese characters apart from symbols. They were designated as 7.2 mace, respectively as 3.6 mace, without reference to the word "dollar", or its Chinese equivalent "yuan".
Their design will be noted from the reproductions given below (by courtesy of Mr. C.C. Tsiang), figures 7 and 8. It remains to merely translate inscriptions: Obverse: Kweichow, officially minted, 14th year of Kwang Hsu; Reverse: Kweichow. These coins are extremely rare and their circulation must have been very limited.
 Fig. 7 |
 Fig. 8 |
This concludes the enumeration of China's attempts to produce dollar-like coins before the installation of modern machinery and the adoption of up-to-date minting methods. All the dollar pieces described here, with the possible exception of the last mentioned Kweichow group, were made expressly for the purpose of producing convenient means of paying the troops.
Remarks:
The Kweichow dollar probably came out as essay only.
Some collectors doubt its authenticity.
The coins reproduced here are smaller than the originals, due to lack of space in these cloumns. (The article is one of six articles from the Bulletin of the Numismatic Society of China bounded by Howard Bowker.)
The Kweichow dollar probably came out as essay only.
Some collectors doubt its authenticity.
The coins reproduced here are smaller than the originals, due to lack of space in these cloumns. (The article is one of six articles from the Bulletin of the Numismatic Society of China bounded by Howard Bowker.)
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