Item number: A2164

Year: AD 1912-1916

Material: Silver (.750 est.)

Size: 30.3 x 30.4 x 1.7 mm

Weight: 11.2 g

Manufactured by: Chengdu Mint

Provenance: Da Chen Stamps and Coins Collection 2015

This silver coin, valued at one yuan, was minted at the Chengdu Mint between the 1st year of the Republic of China (AD 1912) and the 5th year of the Republic of China (AD 1916). It was known as the “Szechuan Rupee.” Historical records indicate that it weighed 3.2 mace according to the late Qing standard, equivalent to the British Indian Rupee. Initially, its market value varied by region, ranging from 3.0 to 3.7 mace, with later fluctuations dropping to as low as 1.0 or 1.2 mace. The “Szechuan Rupee” was known by multiple names, including “Sichuan-minted Rupee,” “Tibetan Yuan,” “Chuan Ka,” “Zhao Erfeng Coin,” and “Tibetan Silver Dollar.”

The obverse of the silver coin features a left-facing portrait of Emperor Guangxu, wearing a winter court hat. It holds historical significance as the first Chinese coin to bear the image of a ruler. The reverse side displays the inscription “Sichuan Province Minted” encircled by floral patterns, with a centrally positioned upright floral motif. Variants of this coin can generally be distinguished by their design features. Numismatists categorise the issuance of the Szechuan Rupee into four periods: the first period corresponds to its initial minting during the Guangxu era until the Xinhai Revolution; the second period covers continued minting during the Republic of China; the third period refers to its relocation to Kangding for minting; and the fourth period occurred after a fire at the minting facility. This piece is believed to date from the second production period. Some coins bear additional marks beside the portrait, such as “S,” “3,” or “4,” as well as characters such as “ལ” (Li Yong), “ས” (Sa), “one,” or multiple stamped marks. These marks are believed to have been applied by monks of Changchun Monastery in Litang, serving as verification marks imposed during money lending to artificially increase circulation value, while debts were later repaid based on silver content, thereby yielding high profits.

Following the signing of the “Sino-British Trade Agreement on Tibet and India” in the 19th year of Guangxu (AD 1893), British merchants operating out of India flooded Tibet with British goods and Indian Rupees. This influx, coupled with the lower silver content of Indian Rupees, led to an outflow of silver ingots and the increasing dominance of the Indian Rupee in Tibetan commerce. Even Qing troops stationed in Tibet were required to exchange their currency for Indian Rupees in order to purchase supplies locally.

In response to the growing prevalence of Indian Rupees in Tibet and their encroachment into neighbouring Sichuan, Liu Tingshu, then magistrate of Dajianlu, manually minted local silver coins in the 28th year of Guangxu (AD 1902) to counter this influence. Around AD 1905, Sichuan Province formally established a minting operation in Chengdu, modelled after British Indian Rupees featuring the effigy of Queen Victoria. Using mechanical minting techniques, the Szechuan Rupee was produced bearing the image of Emperor Guangxu, with denominations of one yuan, half yuan, and quarter yuan. Due to the limited lifespan of minting dies, engravers manually re-engraved details to maintain their clarity, resulting in numerous variant designs of the Szechuan Rupee.

The Szechuan Rupee was distributed throughout Sichuan and Tibet, with administrative measures enforcing its use in official and civilian transactions, successfully stabilising the economy and kerbing British economic penetration through Indian Rupees. Interestingly, due to a shortage of small-denomination silver coins, Tibetan traders adhered to the traditional practise of cutting larger coins into halves or smaller fractions for minor transactions, a practise known as “Tsai Kou Tibetan Silver.” However, as defacing an imperial portrait was considered disrespectful by Qing officials, Zhao Erfeng, the then governor of Sichuan, strictly prohibited this practise and introduced auxiliary copper coins. Despite this, enforcement proved ineffective.

Following the fall of the Qing Dynasty in AD 1911 due to the Xinhai Revolution, political and economic instability persisted, and various warlords who controlled Sichuan continued to mint and circulate the Szechuan Rupee. However, these issues eroded public confidence in the currency, leading to continuous re-minting with increasingly degraded silver content as a means of raising revenue. From this period onwards, only the one-yuan denomination of the Szechuan Rupee was produced. In addition to circulation in Sichuan and Tibet, imitation versions were minted in neighbouring regions, such as the “Xining Tibetan Silver” (or “Ma Lin Tibetan Silver”), commissioned in AD 1930 by Ma Lin, the chairman of Qinghai Province, and produced at the Gansu Mint using copper-silver cladding. Due to its easily worn silver coating, it was nicknamed “Rotten-faced Tibetan Silver.” Other variations include “Kro Tibetan Silver,” minted in Luhuo by local chieftains in AD 1938, and reportedly, a version minted in Ya’an. The “Aluminium-Nickel Tibetan Silver,” discovered during a currency exchange programme by the People’s Government in AD 1958, further exemplifies the diversity of these issues.

The Szechuan Rupee circulated for 56 years, with its silver content gradually declining over time. By AD 1939, it contained more copper than silver, resulting in a reddish hue, earning it the name “Red-faced Szechuan Rupee” or “Red Szechuan Rupee.” While production ceased in AD 1942, it continued to circulate among the populace. In the 1950s, the People’s Republic of China implemented a dual-currency policy in Sichuan and Tibet, allowing both old and new currency to coexist. However, in late AD 1958, the Szechuan Rupee was officially banned, marking its historical conclusion.

物件編號: A2164

年代: 公元 1912-1916 年

材質: 銀 (約750‰)

尺寸: 30.3 x 30.4 x 1.7 mm

重量: 11.2 g

製造地: 成都造幣廠

來源: 大城郵幣社 2015

此枚銀幣為民國元年(公元1912年)至民國五年(公元1916年)，由成都造幣廠所鑄造，幣值一元的「四川盧比」。史載合清末庫平銀三錢二分重，與英印盧比同，初時市價則依地區值三錢至三錢七分不等，後有低至一、二分者。「四川盧比」稱呼多元，有「川鑄盧比」、「藏元」、「川卡」、「趙爾豐錢」、「藏洋」等。

銀幣正面有光緒帝的左側肖像，著冬朝冠，是中國歷史上第一枚鑄有統治者肖像的錢幣。銀幣背面是為花草紋環繞的「四川省造」四字，中央有一朵直立的花朵裝飾。銀幣之版別，可大略依銀幣圖樣區別。錢幣學者一般將四川盧比的發行分為四個時期，第一期為光緒初鑄至辛亥革命，第二期為民國續鑄，第三期為康定移鑄，第四期為廠房火災後續鑄。此銀幣應為二期幣。肖像旁有時會有「S」或「3」、「4」等數字，抑或是「ལ」(里用)、「ས」(薩)、「one」等，一個或多個戳記。據稱主要為理塘之長青春科爾寺所為，戳記為負責僧人之標記，於放債時加戳印以強令其升值流通，而收債時僅看成色，以獲取高額利潤。

面對光緒19年(公元1893年)《中英藏印續約》的簽訂，以印度為基地的英國商品和印度盧比大舉流入西藏，英國商人以含銀量較低的印度盧比換取當地的銀錠造成白銀的外流，以及英國逐漸以印度盧比控制西藏經濟的格局。當時清帝國駐紮於西藏的軍隊甚至需要兌換為印度盧比，方能在當地購買物資。

光緒28年(公元1902年)，面對印度盧比充斥於西藏，甚至擴張到鄰近的四川局面，時任打箭爐同知的劉廷恕手工打製本地的銀幣加以抗衡。後於公元1905年前後，四川省以成都造幣廠為基地，模仿印有維多利亞女王頭像的印度盧比，以機械鑄幣技術打造帶有光緒皇帝頭像的四川盧比，按照大小差異有：1元、½元和¼元三種面額。由於鑄幣的鋼模有使用壽命，需要雕刻師以手動雕刻維持鋼模的清晰性，使得四川盧比有許多不同的版型出現。

該款四川盧比被送往四川和西藏各地，以行政手段迫使官民交易以四川盧比結算，成功穩定和限制印度盧比的經濟滲透。有趣的是，由於小面額銀幣不足，藏民會依循舊習切割大面額的銀幣為一半或不同等分以滿足日常小額貿易，稱「宰口藏洋」。而裂解帶有皇帝肖像的四川盧比在清廷官員眼中是為大不敬，故時任四川總督的趙爾豐曾嚴令禁止裂解銀幣之舉和發行銅幣作為輔助，但實際效果有限。

直到公元1911年，辛亥革命推翻清朝以後，由於政治與經濟體制的混亂，民國時期控制四川的各路軍閥仍斷續鑄造和使用該款錢幣，時有收兌以鑄新幣之舉，卻無法取得商民信任，只能續鑄成色愈發低劣的四川盧比，以籌財源，惟此時已不再製造幣值1元以外之四川盧比。除四川及藏區外，周圍地區亦有倣鑄，如公元1930年，青海省政府主席馬麟，委甘肅造幣廠，以銅鑲銀的工藝鑄「西寧藏洋」，或稱「馬麟藏洋」，因銀表層易磨損而又稱「爛臉藏洋」。還有公元1938年流通於爐霍，由當地頭人鑄行的「克羅洋錢」，而據傳雅安地區亦曾鑄造。公元1958年人民政府收兌時亦曾發現的「鋁鎳藏洋」。四川盧比行用時間達56年，隨年代則成色每況愈下，公元1939年後由於幣材銅遠多於銀，顯紅銅色，故稱之為「紅臉藏洋」或「紅藏洋」。公元1942年停鑄，但仍持續於民間流通。公元1950年代，控制四川和西藏的中華人民共和國採新、舊幣並用的政策。直到公元1958年底，才禁用四川盧比，使其走入歷史。