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ROC
Sun Yat-sen Nickel Coin
Half Yuan
ROC era 32
民國
孫中山像鎳幣
半圓
民國三十二年
Item number: A2919
Year: AD 1943
Material: Nickel-copper alloy
Size: 27.7 x 27.7 x 1.8 mm
Weight: 9.0 g
Manufactured by: Chengdu Mint
Provenance: Spink 2023
This is a coin issued from the 30th year of the Republic of China (AD 1941) onward, during the period when the Nationalist Government had relocated to Chongqing. It was struck at the Chengdu Mint and features a modified version of the nickel coin bearing the portrait of Sun Yat-sen, with the denomination “Half Yuan” added to the original design.
The obverse of the coin features a left-facing portrait of Sun Yat-sen. The upper edge is inscribed with the issuance year, “The 32nd Year of the Republic of China” (中華民國三十二年). The outer rim is adorned with a key-pattern design, commonly found on ancient Chinese bronzeware.
The reverse of the coin features a key-pattern border like the obverse. At the centre is an image of a spade money, a form of currency used during the Spring and Autumn and Warring States periods, which was also adopted by the Nationalist Government as the emblem of the Ministry of Finance. Inside the spade coin is the character “財” (finance) in an oracle bone script-inspired style. On either side of the spade coin, the denomination “半圓” (Half Yuan) is inscribed in Chinese characters. The edge of the coin features a reeded design.
In AD 1936, shortly after the Central Mint was ordered by the government to produce decimal-based nickel coins, its location in Shanghai faced attacks from the Japanese military the following year. Beginning in late summer of AD 1937, the mint’s machinery was dismantled—some were hidden on-site, while the majority were gradually relocated to inland cities such as Wuchang, Guilin, Chongqing, Lanzhou, and Chengdu. This strategic relocation aimed to ensure the continued issuance of currency during wartime.
Due to the escalating Second Sino-Japanese War, the supply of nickel became increasingly scarce and its price rose sharply. In response, starting in AD 1940, the Ministry of Finance mandated a new coinage composition, replacing pure nickel with an alloy consisting of 18% nickel, 27% zinc, and 55% copper.