Watch List notes:

YUNNAN: Kuang Hsu, 1875-1908, AR trade rupee, ND [1907], L&M-427, Wenchao-pg.512 #830 (rarity 5 stars), this type is clearly modeled after the Szechuen Tibet Rupee series and although similar in appearance, various modifications have been made to the design which include some stylistic changes and the addition of the English legends YUN-NAN PROVINCE around central portrait // SILVER COIN within Indian rupee style wreath, environmental damage as hornsilver, NGC graded VF details, RRR, ex Hans Mondorf Collection. This type initially was intended to counter the influx of British Indian Rupees entering circulation within the region. The obverse depicts a left facing profile portrait of the emperor "Guang Xu", although some accounts claim it to bear the likeness of Yunnan governor "Cen Yuying". However, it was minted on a limited trial basis and never reached full production. For this reason examples are seldom encountered today and are extremely rare. This is only the fourth example to appear for sale on CoinArchives in 15 years.

Estimate: 12,000-14,000 USD