Stack's Bowers & Ponterio
May 2022 Hong Kong Auction 3-9 May 2022
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(t) CHINA. Manchukuo. Tael, ND (1932). PCGS MS-60.
L&M-1068; Fr-Unlisted; cf. K-1595; KMX-2; WS-1347. A VERY RARE and seldom-seen type, this uniface issue presents a seal script character "fun" on the obverse, with the reverse presenting weight and purity stamps (1000 and 24K) only. Not necessarily issued to circulate, but instead held by the Bank of Manchukuo to back its currency. A few scattered scuffs and marks, as would be expected for the designation, but yellow-orange and fairly dazzling.
L&M-1068; Fr-Unlisted; cf. K-1595; KMX-2; WS-1347. A VERY RARE and seldom-seen type, this uniface issue presents a seal script character "fun" on the obverse, with the reverse presenting weight and purity stamps (1000 and 24K) only. Not necessarily issued to circulate, but instead held by the Bank of Manchukuo to back its currency. A few scattered scuffs and marks, as would be expected for the designation, but yellow-orange and fairly dazzling.
The Bank of Manchukuo was established in 1932 in the Japanese occupied provinces in Northern China. A major aim of the Bank was to introduce a standardized currency, which they took up almost immediately. The bank initially had sufficient gold reserves and consistently paid a 6% dividend to investors. The Bank continued until the end of the Second Sino-Japanese War, by which time the economic situation had deteriorated into rapid inflation in Manchukuo.
Estimate: $8000 - $12000