Watch List notes:

SOUTHERN SONG: Zhao Na, 1131-1162, AE token (6.04g), H--, 27mm, zhao na xin bao / shi shang, very rare Song dynasty period wartime authorization issue, Fine, RRR, ex Shèngbidébao Collection. W. Op den Velde in his 'Cash coin index' writes: These tokens, they can hardly be called coins, were issued by Liu Kuang Shi, the governor of Hubei, as a mark of his allegiance to the Song Dynasty in the face of the JinTartar attacks. Perhaps the date of issue was 1129 when during a rebellion the emperor was deposed for some weeks. Sometimes this piece is said to be a coin issued by the leader of the rebel state of Qi, Zao Wang, during this reign. The legends seem somehow more appropriate from a governor than from a rebel. However, the artfulness of some of the regal legends during this dynasty is open to debate. The reverse bears the character Shi, which seems to allude to Liu Kuang Shi himself (Cresswell 1971). Ting Fu Pao (1938) says these coins were issued between 1131-1162 in gold, silver and copper, but that he has not seen the gold and silver issues. David Jen writes another theory on these issues in his book, Chinese Cash Identification & Price Guide, page 85: He calls them "pass coins." This type was intended for use by soldiers of the Jin army who wanted to desert and join the Song ranks. In 1231 Jin troops again advanced against the Southern Song Dynasty. The two armies were stationed facing each other across the river. The Song commander Liu Guang Shi got word that many of the Jin soldiers were of Han nationality and were longing for home. Those who wanted to come over and join Liu Guang Shi ranks would be given these coins to serve as passes and anyone bearing them would receive a warm welcome. It was not long before tens of thousands deserted the Jin army, forcing the Jin commander to withdraw his troops and return home. The top character on the reverse means envoy and the bottom one a signature.

Estimate: 300- 400 USD