Watch List notes:

(t) CHINA. Hupeh. Tael, Year 30 (1904). Hupeh Mint. Kuang-hsu (Guangxu). NGC AU-58.
L&M-180; K-933; KM-Y-128.2; WS-0878. Small characters variety. A desirable type, the present example is highly lustrous and coated with some light golden toning throughout. Some subtle contact is seen on the surfaces, though this is neither pervasive nor distracting. Very little evidence of rub on the high elements is noticed, giving this example the appearance of a Mint State piece. The immense popularity of the type should ensure that it is quite likely to be fiercely contested for and highly desired in such condition.

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.

Estimate: $50000 - $75000