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!
ROC,
Year 3 edition 20 Cents,
ROC era 5,
Tianjin Central Mint
民國
三年版貳角
民國五年
天津造幣總廠造
Item number: A272
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 follows the template established in the 3rd year of the Republic of China (AD 1914) for the “One Yuan” coin. It bears the year inscription “Republic of China Year 3” 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).
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)
Types
Purity
50 cents silver coin
Ag 70% ,Cu 30%
20 cents silver coin
10 cent silver coin
5 cents nickel coin
Ni 25%,Cu 75%
2 cents copper coin
Sn 4%,Pb 1%,Cu 95%
1 cent copper coin
0.5 cents copper coin
0.2 cents copper coin
0.1 cents copper coin
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.