Watch List notes:

China, Hsin Dynasty, Wang Mang rebel, (A.D. 7-22), gold inlayed key money of value 5000, (27.32 g), obv. Yih-tao (in gold) p'ing wu-chien, "one knife : value five thousand", (Hartill 9.12, Sch.119, cf.TFP 456 & 458). Extremely fine, a very nice example with very clear characters and minimal encrustation, very rare in this condition. Provenance - Ex Patrick J. O'Rourke Collection and from the Hong Kong Coin Convention August 1996. Stephen Album, USA notes the following interesting comment about this type coin. At that time 5000 Wu Shu was equal to 1/2 cattie of gold. A cattie weighed about 120 grams, so these knives were valued at about 60 grams (2 ounces) of pure gold. We have not been able to find a relative value for gold in ancient China, but in the same time frame in the Roman Empire, two ounces of gold would have been at least a year's wages to an average citizen, thus the problem with this issue. It was fiat currency with a named value very high, but with little intrinsic value.

Estimate: 3000 AUD