Stack's Bowers & Ponterio
April 2023 Hong Kong Auction 23-26 Apr 2023
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According to Michael Mitchner, this coinage probably began around the time King Imouhsun of Nanchao destroyed the Pyu capital (Srikshetra) in 832. Apparently contemporary Chinese accounts record a silver crescent shaped coinage in this region, but ended around the time of Kublai Khan in 1253.
Estimate: $100 - $150