Watch List notes:

† - China, Republic, Tsao Kun, dollar, undated (1923), authenticated and graded by PCGS as Mint State 64, facing bust in civilian dress, rev. two crossed flags with Chinese legend above (KM.677; L&M.958; Kann 677; Dav.231), seemingly finer, a boldly struck gem of a coin having fully original amber-gold and grey iridescent toning over gleaming lustre; among the finest we have seen, a charming coin of sheer visual delight!. Four thousand years of imperial power came to a sudden end in 1912 with the birth of modern China as a republic. As the Qing Dynasty came to an end, lawlessness and widespread civil unrest set in. The best-known activist against the dynasty, Sun Yat-Sen, gathered followers for a republican cause beginning in 1905 in Tokyo, and many Chinese living in Japan joined his cause. Rebellion began in October 1911 and quickly spread from Hupei Province. Many Chinese soldiers joined the revolt. An era of warlords and revolution ensued throughout the 24 provinces. Sun Yat-Sen was declared President of the Republic on the first day of 1912 but the republic lacked a formal army. Conflict continued and millions lost their lives. Foreign powers sought influence as well as the protection of its emigrés, officials and missionaries; American and other gunboats patrolled Chinese rivers, often causing anger among native inhabitants. The Communist party appeared in 1921, and in 1928 the Chinese Nationalist Party brought a degree of unification to the land, but during the first two decades of the twentieth century bandits declared themselves to be generals and even emperors; warlords ruled various portions of China until 1927, when the Nationalist movement finally subdued much of the internal fighting. A vast silver coinage appeared during this exuberant era of the warlords, in various denominations, with the largest silver coins providing the best images of the men who either claimed or possessed power. The charming coin in this lot, struck (but not dated) in 1923, is a particularly fine example of such nationalist images, including the crossed flags seen on the reverse side. If you are seeking 'status' coins, this Tsao Kun dollar will become a prize possession. (£18000 - 22000)