Stack's Bowers & Ponterio
April 2018 Hong Kong Auction - Sess. A-E 2-4 Apr 2018
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CHINA. Shanghai. Tael, Year 6 (1856). NGC AU-58.
L&M-589; K-900 (type A); WS-1122; Wenchao-pg. 274 #383 (rarity two stars). Issued by Wang Yung Sheng and engraved by Wan Chaun. Obverse: "Cake (of) standard silver (from the) business firm (of) Wang Yung Sheng (in the) Shangai District (in the) 6th year (of Emperor) Hsien Feng (1856)"; Reverse: "Made (by) Wan Chuan, silversmith; Supervised (by) Chow Yuen Yu. Exact weight 1 Tsaoping Tael." Hyper-inflation caused by the Tai Ping Rebellion led to the hoarding of silver. At this time, foreign coins, namely Spanish eight Reales, circulated in Shanghai at a considerable premium. In 1856, the Shanghai authorities authorized silversmiths to issue coinage in an attempt to replace the Spanish 8 Reales. The firms Wong Yung Shen, Ching Cheng Chee and Yu Shen Sheng were granted permission to issue coinage in the denominations of 1 Tael and 5 Mace. This was a short lived coinage as the monthly output was only about 3,000 pieces and was not large enough to meet the demand. This combined with the large number of forgeries entering circulation doomed the project to a short period of only about six months. Extremely significant, as the Shanghai series represents the first Tael coinage produced in China. Lustrous with excellent surfaces. Sharply struck and highly attractive. NGC AU-58.
Estimate: $20000.00- $30000.00
L&M-589; K-900 (type A); WS-1122; Wenchao-pg. 274 #383 (rarity two stars). Issued by Wang Yung Sheng and engraved by Wan Chaun. Obverse: "Cake (of) standard silver (from the) business firm (of) Wang Yung Sheng (in the) Shangai District (in the) 6th year (of Emperor) Hsien Feng (1856)"; Reverse: "Made (by) Wan Chuan, silversmith; Supervised (by) Chow Yuen Yu. Exact weight 1 Tsaoping Tael." Hyper-inflation caused by the Tai Ping Rebellion led to the hoarding of silver. At this time, foreign coins, namely Spanish eight Reales, circulated in Shanghai at a considerable premium. In 1856, the Shanghai authorities authorized silversmiths to issue coinage in an attempt to replace the Spanish 8 Reales. The firms Wong Yung Shen, Ching Cheng Chee and Yu Shen Sheng were granted permission to issue coinage in the denominations of 1 Tael and 5 Mace. This was a short lived coinage as the monthly output was only about 3,000 pieces and was not large enough to meet the demand. This combined with the large number of forgeries entering circulation doomed the project to a short period of only about six months. Extremely significant, as the Shanghai series represents the first Tael coinage produced in China. Lustrous with excellent surfaces. Sharply struck and highly attractive. NGC AU-58.
Estimate: $20000.00- $30000.00