Watch List notes:

CHINA. Hupeh. Tael, Year 30 (1904). Hupeh Mint. Kuang-hsu (Guangxu). PCGS AU-58.
L&M-180; K-933; KM-Y-128.2; WS-0878. Small characters variety. This ever-popular type, hotly contested and endlessly enthralling, exhibits just the slightest degree of gentle handling and the most honest degree of wear. Meanwhile, a subtle violet-lilac nature enchants the eye on the dragons side, with argent brilliance wholly emanating throughout. An excellent surviving example of this SCARCE and difficult emission.

648,000 Hupeh Taels were originally minted, inclusive of both large and small character types; however, it is unknown exactly how many of each were struck. This Tael was introduced as part of a projected coinage reform based upon the traditional Chinese weight standard rather than the Dollar system. In the initial proposal to produce these coins, it was also suggested to produce smaller denominations in the values of 1, 2, and 5 Mace. However, no such pieces have surfaced (even in pattern form), and it is unlikely they were ever produced. The general populace found it complicated to convert two distinctly different coinage systems, especially when making change.

Ex: Ponterio 133 (1/2005) Lot # 2048.

Estimate: $50000 - $75000