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    Legendary Rarity 1900 Kiangnan Half Dollar - One of the Keys to the Provincial Series

    Kiangnan. Kuang-hsü 50 Cents CD 1900 XF Details (Cleaned) PCGS, Nanking mint, KM-Y144A (Rare), L&M-232, Kann-82, Shanghai Museum-464-465, Shi Jiagan Collection-432, WS-0820, Wenchao-668 (rarity 3 stars), Chang Foundation-Unl. An extraordinary rarity to say the least, and one of the indisputable keys to the Kiangnan series just behind the prohibitively elusive 50 Cents of 1899, the 1900 50 Cents remains one of the most challenging Chinese provincial minors, demanding high prices whenever it becomes available. Across NGC and PCGS combined, reportedly only 10 examples have been certified in total (though PCGS's census does not display information on Details-graded coins). According to our research, we have only been able to trace the following auction appearances for the type over the last several decades, to which may be added the two pieces illustrated in the catalog the Shanghai Museum Collection and the coins plated by Lin and Ma and Wang Chun Li:

    1) The Chinese Family Collection specimen. Champion Macau Auction (December 2015, Lot 119). Certified VF35 by NGC.
    2) The Åke Lindén specimen. Baldwin's-Ma Tak Wo Auction 56 (April 2014, Lot 379). Certified XF45 by PCGS.
    3) The R.N.J. White specimen. Baldwin's-Ma Tak Wo Auction 46 (April 2009, Lot 51). Uncertified but called "Extremely Fine."
    4) The Norman Jacobs specimen. Baldwin's-Ma Tak Wo (August 2008, Lot 248). Certified AU53 by NGC.
    5) The Eduard Kann specimen. Hans Schulman-Quality Sales Corp (June 1971, Lot 105). Not certified, though seemingly quite worn from the plates in Kann's book.

    Just as worthy of note are those collections which did not contain a representative of this date, which include the holdings of Daniel Ching, Irving Goodman, Wa She Wong, and Frank Robinson, certainly establishing its supreme scarcity. We would note further than while Wenchao has assigned the issue a rarity of 3 stars, well-known Taiwanese numismatist Lee Jinling considered it to be of 4-star rarity.

    The exact reasons for the rarity of this issue remain somewhat unclear. While documentation of the period suggests mintage numbers must have been quite low and that their issuance was unpopular, there is certainly something to be said for the problems involved in the new machine-made coinage of the early 20th century. Although they were conceived to provide a unified standard across the country, locally produced provincial silver Dollars varied wildly in fineness, size, and weight between different locales. Whereas the initial purpose of supplanting the circulation of foreign silver Crowns likely would lent a special prestige to the Dollar, and the smallest 10 and 20-Cent pieces still served the needs of smaller transactions, the Half Dollar fell into a sort of awkward gray zone between the two. Less care also seems to have been taken in their production. Not only did they reportedly contain less pure silver than the Dollar, but the design of the coin remained static from its first issuance in 1898 until 1900, still carrying the "Old Style" Dragon. All pieces we have consulted also demonstrate the noted doubling to the reverse (obverse as holdered) designs.

    From the Glorium Collection


    NOTE: This lot was manufactured in China and was sourced from outside the United States for this auction after September 1, 2019. Under the new US tariffs on Chinese goods, collector's items from China will be subject to a 7.5% import tariff. Any clients who wish to take delivery of this item in the United States should be aware of this added charge, and consult their tax adviser with any questions.

    經典罕品的庚子半圓 - 江南省系列中的重點收藏

    庚子(1900)江南省造光緒元寶三錢六分銀幣。XF Details (Cleaned) PCGS。
    南京造幣厰。珍稀度三星。出衆的罕品,江南系列中以己亥年三錢六分為最罕,此「庚子年三錢六分」出品緊隨其後,令多少藏家不惜千金。至今NGC及PCGS一共只有十例入評。上海博物館圖錄,以及林國明與馬德合著《中國金銀幣目錄》中各收錄一枚。敝司翻查過去數十年的拍賣記錄,找到另外5枚拍賣記錄。分別爲:
    1. 2015年澳門冠軍拍賣一枚出自陳氏家族舊藏VF35 NGC例子
    2. 2014年馬德和香港拍賣一枚出自 Ake Linden 舊藏XF45 PCGS例子
    3. 2009年馬德和香港拍賣一枚出自 R.N.J. White 舊藏未評級的例子
    4. 2008年馬德和香港拍賣一枚出自諾曼雅格斯舊藏AU53 NGC例子
    5. 1971年Hans Schulman-Quality Sales Corp拍賣一枚耿愛德舊藏未評級的例子
    上述共7枚例子橫跨各大集藏,包括黃華樞舊藏、Daniel Ching 陳丹尼舊藏、Irving Goodman古德曼舊藏及Frank Robinson弗蘭克羅賓遜舊藏,均未有此1900年「庚子三錢六分」版別, 足見此幣的稀少程度。台灣資深藏家Lee Jinling 更給予此款式四星珍稀度評價,比董文超著作中的評價更高。到底此款銀幣爲何如此稀缺,各家一直未有定論。有人歸因於發行量低,銀幣不受大衆歡迎,唯二十世紀所有早期機製幣均同樣面臨以上困境,未能解釋何以此幣獨稀罕如此。機製幣為統一全國貨幣標準而鑄,但各省出品不論成色、大小、重量及造工均大不相同。鑄造該批銀幣的另一目的為取代海外銀元,因此七錢二分銀幣數量最多,而七分二釐等低面值銀幣用途廣汎,亦廣受大衆歡迎,推斷此三錢六分介乎兩者之間,則略顯尷尬。或因如此,一般三錢六分做工略遜,成色亦有不足。不過這批銀幣卻以其「老江南」設計吸引藏家,自1898年至1900設計未變,款式獨特。敝司所找到的所有例子正面壓因均有重影。此枚狀態理想,極爲罕見的珍品。
    出自:The Glorium集藏




    View Certification Details from PCGS

    Auction Info

    Auction Dates
    December, 2021
    11th-13th Saturday-Monday
    Bids + Registered Phone Bidders: 25
    Lot Tracking Activity: N/A
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