MING: Tian Qi, 1621-1627, AE cash, H-20.215, xin (new) above, yi qian at right, yi fen at left on reverse, Fine, ex Jiùjinshan Collection. Originating in the Song Dynasty (960-1279 AD), the "horse coin" was not actual currency. Although Chinese literary figures have made mention of horse coins throughout the centuries, few have made it clear exactly how the coins were used. Collectors today believe horse coins were either pieces used on game boards or counters for gambling.
Estimate: 75-100 USD