Watch List notes:

(t) CHINA. Hunan. Dollar, Year 11 (1922). PCGS MS-65+ Gold Shield.
L&M-867; K-763; KM-Y-404; WS-0930. "Hunan Provincial Constitution". Struck to commemorate the Promulgation of the Constitution. Superbly preserved, possessing a full strike with satin luster and faint peripheral toning. VERY RARE and seldom encountered in this Gem condition.

In a time of presidents and warlords the people wanted to unite, but also to have autonomy in their own provinces. Zhao Hengxi, the governor of Hunan wanted to protect the province from civil war so he worked diligently to establish the Provincial Constitution and was finally successful on January 1, 1922. The constitution which contains 141 articles grouped under 13 chapters, states the difference between the central and local governments. Some of the weaker warlords were for these constitutions as it was used somewhat like a talisman in that no other provinces' armies could enter the province without permission. Several southern provinces followed suit and successfully drafted and instituted their own constitutions.

Estimate: $20000.00- $30000.00