Watch List notes:

Nederlands-Indië - Lokale muntslag - Borneo, Gongsi lead-tin local cash coin (40.12 g.; 43 mm.), Federation of the He Shun mining Gongsi. Obv.: He Shun Gong Si, 14 Chinese characters punched on the rim, which according to Schaank refers to the 14 gongsis of the He-shun federation / rev.: corrupt Manchu inscription. In 1776 the 14 mining gongsis around Montrado, formed a federation known as He-shun. (Compare to Zeno # 252169 (with tentative reading of 14 characters in comments). Around 1808 the He-shun federation originally consisting of 14 gongsis had dwindled to only seven members. Early in 1819 a quarrel arose between Da-gang and San-tiao-gou about the presidency of the He-shun federation, resulting in a withdrawal of the latter with its allies Shi-wu-fen and Tai-he. They settled north of the Selakau river, San-tiao-gou with its capital at Seminis and Shi-wu-fen at Loemar. The He-shun federation consisted thus of four gongsis. After the detection of a conspiracy of Keng-wei and Xin-wu together with San-tiao-gou against Da-gang, these He-shun gongsis were dissolved by Da-gang on 8 October 1837, leaving Da-gang now synonymous with He-shun in absolute power in Montrado until 1854. Some members of the Keng-wei and Xin-wu gongsis migrated eastwards to Tajan and northwards to Sarawak, respectively – Extremely Rare, perhaps a unique specimen - VF+
Ref.: .: Yih and de Kreek: The Gongsi cash pieces of Western Borneo and Banka in the Ethnographical Museum at Rotterdam", Numismatic Chronicle 153, 171-96 (1996) (https://www.zeno.ru/showgallery.php?cat=2867); S.H. Schaank: The Kongsi's van Montrado. ZENO 310532