Item number: A1208

Year: AD 1916

Material: Silver

Size: 21.4 x 21.4 mm

Manufactured by: Tianjin Central Mint, Tianjin

Provenance: Fuchin Coin 2024

This is a 20 Cents auxiliary silver coin minted in the 5th year of the Republic of China (AD 1916) by the Tianjin Central Mint under the Beiyang Government. The obverse of the coin bears the year inscription “Republic of China Year 5” on the upper rim and features the profile of Yuan Shikai, commonly known as the “Yuan Big Head,” below. The likeness of Yuan Shikai on this coin was crafted by Luigi Giorgi, an Italian sculptor who served at the Tianjin Central Mint since the 2nd year of the Xuantong era (AD 1910). However, this coin has undergone significant wear over time, rendering many of the details of the portrait rather indistinct.

On the reverse side, there is a tied sheaf of grain, with the denomination “20 Cents” inscribed centrally. The upper rim indicates the decimal exchange rate of the coin, stating “Every five coins are equivalent to one yuan.”

In the 3rd year of the Republic of China (1914), the Beiyang Government passed the “National Currency Regulations” aimed at unifying the currency system. Detailed provisions were made regarding auxiliary coins, establishing nine denominations in a decimal system, including “10 Cents, 1 Cent, and 0.1 Cents.” (See Table)

Although regulations for auxiliary coins had been introduced, it wasn’t until May of the 5th year of the Republic of China (AD 1916) that the Beiyang Government issued a “halt to exchange” order to the Bank of China and the Bank of Communications, prohibiting the redemption of banknotes from these two banks. This led to a currency shortage in North China. In July of the same year, to stabilise the financial situation, the Beiyang Government ordered the Tianjin Central Mint to mint three types of silver auxiliary coins, namely “50 Cents, 20 Cents, and 10 Cents,” all of which were to be issued by the Bank of China and the Bank of Communications exclusively. The government also strictly prohibited other businesses and organisations, including the Tianjin Central Mint, from issuing these coins to prevent the proliferation of auxiliary coins in the market.

Initially, the auxiliary coins successfully achieved the goal of stabilising the currency supply. However, later, in pursuit of excessive profits, the Tianjin Central Mint engaged in unauthorised additional minting and discounted underwriting, undermining the credibility of the auxiliary coins and the decimal system. Eventually, in the 13th year of the Republic of China (AD 1924), the Beiyang Government was compelled to order the Tianjin Central Mint to suspend the minting of auxiliary coins.

物件編號: A1208

年代: 公元 1916 年

材質: 銀

尺寸: 21.4 x 21.4 mm

製造地: 天津造幣總廠，天津

來源: 福君錢幣 2024

這是一枚民國5年(公元1916年)，北洋政府委由天津造幣廠鑄造的「貳角」面額輔助銀幣。硬幣正面上緣刻年份「中華民國五年」，下方則是民間暱稱為「袁大頭」的袁世凱側身像。此件袁世凱像是宣統2年(公元1910年)起，便服務於天津造幣廠的義大利雕模師魯喬奇的得意之作。不過這枚錢幣久經磨損，使得人像的細節甚為模糊。硬幣背面為打結的嘉禾，中央是直寫的「貳角」面額，上緣以「每五枚當一圓」標示硬幣的十進位兌換規律。

民國3年(公元1914年)，北洋政府通過旨在統一貨幣的《國幣條例》中，同時對於輔幣進行詳細規劃，以十進位的「角、分、釐」單位制定九種輔幣。(見表)

雖然針對輔幣的規定已經出台，直到民國5年(公元1916年)5月，北洋政府向中國銀行和交通銀行發出「停兌令」，禁止兌現上述兩家銀行的紙鈔導致華北出現錢荒。同年7月，北洋政府為穩定金融，命令天津造幣總廠開鑄「中圓(伍角)、貳角和壹角」三種銀質輔幣，全部交由中國銀行和交通銀行發行。政府更嚴令其他商家和機關，包含鑄造的天津造幣總廠不得發行上述硬幣，以防止市場中的輔幣氾濫。起初輔幣成功發揮穩定貨幣供給的目標，但後續天津造幣總廠為謀求厚利，私下額外鑄造和折價承銷使得輔幣和十進位制的信用受挫。最終在民國13年(公元1924年)，迫使北洋政府下令天津造幣總廠暫停鑄造輔幣。