CHINA. Dollar, Year 9 (1920). PCGS MS-64.
L&M-77; cf. K-666a/b; KM-Y-329.6; WS-0181-8. Hainan variety. Though dated to year 9, these Hainan varieties--distinguishable by the non-bisected central leaf at the top left portion of the wreath, the somewhat 'recessed' field just interior to the denticles, and the lower right stroke of the "yuan" ending horizontally rather than with a slight uptick--were in fact struck in 1949 and circulated in the mainland until the fall of the Republic. Quite RARE and interesting, especially when encountered this brilliant and alluring.
Estimate: $4000 - $6000