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Hong Kong Signature Sale 3100 7-9 Jul 2022
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Shanghai. Wang Yung Sheng Zuwen Yingbing ("Pure Silver Cake") of 1 Tael Year 6 (1856) AU58 NGC, L&M-589, Kann-900 (Type A), Chang-CH1 (Rare), Shanghai Museum-249, WS-1122, Wenchao-383 (rarity 2 stars), Chang Foundation-Unl. (cf. Chang Foundation-59), Cribb-LXXXIV.A.1155. Engraved by Wan Chaun. The obverse reads, in four columns from right to left: "Xian Feng Liu Nian" (Xian Feng Period 6th Year), "Shang Hai Xian Hao" (Shanghai County), "Shang Wang Yong Sheng" (Banker: Wang Yongsheng), "Zu Wen Yin Bing" (Pure Fine Silver Cake). The reverse, arranged similarly, reads: "Zhu Yuan Yu Jian" (Assayed by Zhu Yuanyu), "Qing Cao Ping Shi Zhong Yi Liang Yin" (Actual Weight 1 Ounce on the Shanghai Scale), "Jiang Wan Quan Zao" (Made by Silversmith Wan Quan). Typically unfathomable quality for this intriguing forerunner of the milled silver Dollar in China, presented here at the very cusp of Mint State with a mere 5 examples having currently achieved that moniker in the certified population. Fully struck to a degree that could hardly be called "usual" for the type, both sides emit an allover pervasive luster, just a subtle tinge of marginal color providing the one hint of tone to an otherwise icy white specimen. While slightly more available than the silver cakes of the other two firms, the rarity of this Wang Yung Sheng issue should not be understated, with this being only the third example we have ever offered, and apparently one of only a few to come to market in recent years.
Produced as direct consequence of the free, rampant circulation of foreign Crown-sized issues throughout the country, particularly in Shanghai. Following the hyperinflation precipitated by the Taiping Rebellion, in 1856 the Shanghai Tao authorized the silver firms Chin Cheng Chee, Wang Yung Sheng, and Yu Shen Sheng to produce silver cakes of a similar standard to the Spanish/Mexican 8 Reales to supplant those coins in circulation. With a monthly output of just 3,000 pieces, however, such emissions were doomed to fail, falling far short of local demand. Wenchao further frames the situation as a matter of lucrative exploitation by these firms, who sought to profit from the exchange of such Taels for the Mexican "Cap and Rays" 8 Reales. From the Glorium Collection
https://coins.ha.com/itm/china/china-shanghai-wang-yung-sheng-zuwen-yingbing-pure-silver-cake-of-1-tael-year-6-1856-au58-ngc-/a/3100-34060.s?type=DA-DMC-CoinArchives-WorldCoins-3100-07072022
HID02906262019
© 2022 Heritage Auctions | All Rights Reserved
Estimate: 25000-30000 USD
Shanghai. Wang Yung Sheng Zuwen Yingbing ("Pure Silver Cake") of 1 Tael Year 6 (1856) AU58 NGC, L&M-589, Kann-900 (Type A), Chang-CH1 (Rare), Shanghai Museum-249, WS-1122, Wenchao-383 (rarity 2 stars), Chang Foundation-Unl. (cf. Chang Foundation-59), Cribb-LXXXIV.A.1155. Engraved by Wan Chaun. The obverse reads, in four columns from right to left: "Xian Feng Liu Nian" (Xian Feng Period 6th Year), "Shang Hai Xian Hao" (Shanghai County), "Shang Wang Yong Sheng" (Banker: Wang Yongsheng), "Zu Wen Yin Bing" (Pure Fine Silver Cake). The reverse, arranged similarly, reads: "Zhu Yuan Yu Jian" (Assayed by Zhu Yuanyu), "Qing Cao Ping Shi Zhong Yi Liang Yin" (Actual Weight 1 Ounce on the Shanghai Scale), "Jiang Wan Quan Zao" (Made by Silversmith Wan Quan). Typically unfathomable quality for this intriguing forerunner of the milled silver Dollar in China, presented here at the very cusp of Mint State with a mere 5 examples having currently achieved that moniker in the certified population. Fully struck to a degree that could hardly be called "usual" for the type, both sides emit an allover pervasive luster, just a subtle tinge of marginal color providing the one hint of tone to an otherwise icy white specimen. While slightly more available than the silver cakes of the other two firms, the rarity of this Wang Yung Sheng issue should not be understated, with this being only the third example we have ever offered, and apparently one of only a few to come to market in recent years.
Produced as direct consequence of the free, rampant circulation of foreign Crown-sized issues throughout the country, particularly in Shanghai. Following the hyperinflation precipitated by the Taiping Rebellion, in 1856 the Shanghai Tao authorized the silver firms Chin Cheng Chee, Wang Yung Sheng, and Yu Shen Sheng to produce silver cakes of a similar standard to the Spanish/Mexican 8 Reales to supplant those coins in circulation. With a monthly output of just 3,000 pieces, however, such emissions were doomed to fail, falling far short of local demand. Wenchao further frames the situation as a matter of lucrative exploitation by these firms, who sought to profit from the exchange of such Taels for the Mexican "Cap and Rays" 8 Reales. From the Glorium Collection
https://coins.ha.com/itm/china/china-shanghai-wang-yung-sheng-zuwen-yingbing-pure-silver-cake-of-1-tael-year-6-1856-au58-ngc-/a/3100-34060.s?type=DA-DMC-CoinArchives-WorldCoins-3100-07072022
HID02906262019
© 2022 Heritage Auctions | All Rights Reserved
Estimate: 25000-30000 USD