| Stack's Bowers Galleries (& Ponterio) > April 2024 Hong Kong Auction | Auction date: 15 April 2024 |
| Lot number: 40095 Price realized: 130,000 USD (Approx. 122,330 EUR) Note: Prices do not include buyer's fees. | Show similar lots on CoinArchives Find similar lots in upcoming auctions on  |
| Lot description: CHINA. Shanghai. Tael, Year 6 (1856). Hsien-feng (Xianfeng). PCGS AU-55. L&M-591; K-901 (type B); WS-1126; Wenchao-387 (rarity: ★★★★). Issued by Yu Shen Sheng and engraved by Feng Nien. Obverse: "Cake (of) standard silver (from the) business firm (of) Yu Shen Sheng (in the) Shanghai district (in the) 6th year (of Emperor) Hsien Feng;" Reverse: "Made (by) Feng Nien, silversmith; Supervised (by) Zhu Yuan Yu. Exact weight one Tsaoping Tael." A VERY RARE issuer, this type presents a wondrous opportunity for an exceptionally difficult type. Tied with just two others for the top spot in the PCGS census, this alluringly toned and very lightly handled specimen presents some adjustment marks near the peripheries, but otherwise stands with very clear characters upon each side. Hyper-inflation caused by the Tai Ping Rebellion led to the hoarding of silver. At this time, foreign coins, namely Spanish 8 Reales, circulated in Shanghai at a considerable premium. In 1856, the Shanghai authorities authorized silversmiths to issue coinage in an attempt to replace these 8 Reales. The firms Wong Yung Sheng, Ching Cheng Chee, and Yu Shen Sheng were granted permission to issue coinage in the denominations of One Tael and 5 Mace. This was a short-lived coinage, as the monthly output was only about 3,000 pieces, and was not large enough to meet the demand. This aspect, along with the large number of forgeries entering circulation, doomed the project to a short period of only about six months. Extremely significant, since the Shanghai series represents the first Tael coinage produced in China. To view all items from the Nine Dragons Collection, click here. From the Nine Dragons Collection. Estimate: $75000 - $150000 |  |
