Watch List notes:

(t) CHINA. Hunan. Dollar, Year 11 (1922). Changsha Mint. PCGS MS-63.
L&M-867; K-763; KM-Y-404; WS-0930; Chang-CH146. The "Hunan Provincial Constitution" type, struck to commemorate the promulgation of the document. Displaying a brilliant luster, this stunning, choice example presents much in the way of original mint bloom and commendably sharp details. Pockets of alluring, golden-to-plum toning are adhered to the surfaces, with said surfaces being largely free of contact. A Dollar that is rendered with resolute strength and fulfils the intention of the design to nearly its highest order and, as such, is certain to be an extremely popular lot that garners spirited bidding.

In a time of presidents and warlords, the people simply wanted to unite but also to have autonomy in their own provinces. Chao Heng-hsi, the governor of Hunan, wanted to protect the province from civil war, so he worked diligently to establish the Provincial Constitution, finally being successful on 1 January 1922. The constitution, which contained 141 articles grouped under 13 chapters, stated the difference between the central and local governments. Some of the weaker warlords supported these new terms, as they acted somewhat like a talisman--offering those weaker protection against those more powerful in that no other provincial army could enter another without permission. Consequently, several southern provinces followed suit and successfully drafted and instituted their own constitutions.

Estimate: $30000 - $50000