Digital museum showcasing the collection of worldwide legends over the years! 千古不朽博物館展示多年來收藏的世界傳奇故事!
Qing Dynasty, Guangxu Yuanbao,
10 Cash, Hanyang Arsenal
清 光緒元寶
當十 漢陽兵工廠造
Item number: A420
Year: AD 1905-1906
Material: Copper
Size: 27.7 x 27.7 x 1.4 mm
Weight: 6.95 g
Manufactured by: Hubei, Hanyang Arsenal
Provenance:
1. Noonans 2022
2. D. L. F. Sealy Collection
This is a Guangxu Yuanbao Western-style copper coin with a denomination of ten cash, minted between Guangxu 31 and 32 (AD 1905-AD 1906) by the Hanyang Arsenal, primarily a manufacturer of weapons and ammunition.
During the late Qing Dynasty, there were three factories in Hubei Province involved in minting copper coins, with the Hanyang Arsenal being the last to start production, minting approximately 50,000 coins.
On the obverse of the coin, there is a five-clawed coiled dragon breathing fire. Compared to other mints, the minting technique of the Hanyang Arsenal was relatively crude. Due to the passage of time, most of the dragon’s scales have been worn smooth and are no longer visible. The periphery features small four-petal floral decorations on both the left and right sides as dividers. The upper edge is inscribed with “HU-PEH PROVINCE” in Wade-Giles romanisation, where the letter “R” in “PROVINCE” appears more like an “H.” The lower edge bears the denomination “TEN CASH,” although the word “CASH” is now barely legible.
On the reverse of the coin, there is a beaded circle enclosing the Chinese characters “Guangxu Yuanbao” and a five-petal floral design. The central five-petal floral design serves as the distinguishing mark of the Hanyang Arsenal, differentiating it from other mints which use six-petal or eight-petal designs. The outer periphery features the Manchu script “Bao Yuan” from left to right. The lower edge is inscribed with the denomination “Ten Cash” in Chinese characters, while the upper edge bears the inscription “Made in Hubei Province.”
Since the 26th year of the Guangxu reign (AD 1900), Hubei Province, under the administration of Zhang Zhidong, issued copper coins with denominations of one cash and ten cash the following year. Hubei, being a crucial transportation hub in Central China, had an immense demand for currency. Consequently, Hubei alone had three entities responsible to produce copper coins: the Silver Coin Bureau, the Copper Coin Bureau, and the Hanyang Arsenal. These three units collectively accounted for an astonishing one-third of the total national copper coin production. The ten cash copper coins were further categorised into four types based on floral design variations: six-petal flowers, eight-petal flowers, coins, and five-petal flowers.
However, by the 32nd year of the Guangxu reign (AD 1906), the oversupply of machine-cast copper coins from various provinces led to a decline in their value. To control the economy and reclaim the minting rights from local authorities, the imperial court ordered all provinces to cease minting copper coins. Despite this directive, the significantly empowered regional governors since the time of the Eight-Nation Alliance were reluctant to relinquish the profits associated with coin minting. Consequently, the effectiveness of the imperial prohibition was limited. This situation ultimately led to a lack of market confidence in the copper coins, preventing them from effectively fulfilling their intended economic function.