Watch List notes:

CHINA. Hupeh. Tael, Year 30 (1904). PCGS AU-58 Gold Shield.
L&M-181; K-933; KM-Y-128.1; WS-0879. Large Characters type. Exhibiting just a hint of light handling upon the high points, this pleasingly struck example features mostly gunmetal gray surfaces with some golden hints speckled throughout, while a slightly darker nature near the peripheries adds further character. Quite difficult to locate in more elevated states of preservation such as is on display with this great specimen.

Originally 648,000 Hupeh Taels were minted, including both large and small character types. It is unknown exactly how many of each were struck. However, it is clear that the large character type is by far the rarer of the two. In the initial proposal to produce these coins, it was also suggested to produce smaller denominations in the values of 5, 2 and 1 Mace. However, no such pieces have surfaced (even in pattern form) and it is unlikely they were ever produced. It is interesting to note that the Hupeh Taels were struck in 0.877 fine silver as opposed to the 0.960 fine silver set forth by the currency regulations of 1905. This short lived series circulated for only a brief period of time and was soon after replaced by the unified Tai Ching Ti Kuo silver coinage. Although the Hupeh Tael coinage has a fairly large mintage, most likely much of this was melted down to be made into later coinage.

Estimate: $30000.00- $40000.00