Item number: A2952

Year: AD 1912-1928

Material: Copper

Size: 28.0 x 27.7 x 1.2 mm

Weight: 6.15 g

Provenance: Spink 2023

This is a privately cast ten-cash copper coin, modelled after the founding commemorative coin issued by the Ministry of Finance of the Republic of China between AD 1912 and AD 1928.

On the obverse, the central inscription reads “十文” (“Ten Cash”), appearing to be written in regular script (kaishu), flanked by clusters of grain and grass leaves. A fine ring and a beaded circle separate the central design from the outer rim. At the top of the outer rim, the original coin featured the English inscription “THE REPUBLIC OF CHINA”, denoting the national title; on this specimen, however, only a partial and distorted version, “TIIE RI…”, is faintly discernible, with the subsequent letters blurred beyond recognition. Each side of the two lines of inscription is separated by a four-dot floral ornament. The original lower rim inscription “TEN CASH” appears here as “TƎИ CΛSH”, exhibiting reversed or malformed letters.

The reverse features a central image of two crossed flags. On the right is the five-colour flag of the Beiyang Government, symbolising unity among the five ethnic groups; on the left is the Iron and Blood Eighteen-Star Flag, which, since the Wuchang Uprising, symbolised the federal autonomy of the eighteen Han provinces. The original star points have been replaced with elements thick at both ends and narrow at the centre, resembling needled felt balls in overall form. The flags are bound at the crossing point by a cord with tassells hanging below, the knot appearing stiff. The original floral vine patterns flanking the flags have been truncated, now ending in butterfly-shaped blossoms. The upper rim originally bore the inscription “中華民國” (“Republic of China”), though in this specimen it is blurred and illegible. The lower rim carries the inscription “開國紀念幣” (“Founding Commemorative Coin”), seemingly in clerical script (lishu), though several characters exhibit irregular or nonstandard forms: the “或” component of “國”, the “糸” component of “紀”, and the “今” component of “念” are all rendered with variant strokes.

Both the obverse and reverse rims are bordered with an outer ring and inner square-tooth pattern; the spaces between the ring and the square teeth are occasionally disconnected, and the relief is faint and unclear. The edge of the coin is smooth and unornamented. This coin may have been sand-cast from a circulation coin and recast, or subsequently altered by artisans unfamiliar with the English alphabet, who added strokes in areas where the mould was unclear, leading to multiple inaccuracies and irregularities in the final product.

In AD 1912 (1st year of the Republic), the Republic of China was established, marking the end of monarchy and the rise of republican governance. The new government decided to issue “Founding of the Republic Commemorative Coins” to promote republican ideals, stabilise public sentiment and finances, and to replace the traditional Chinese cash coins with square holes. The form and style of the new coinage aligned with international monetary standards. The initiative was first led by the Nanjing Provisional Government and subsequently continued under the Beiyang Government. Thereafter, due to prolonged political instability and the fragmentation of authority among regional warlords, copper coins, though nominally auxiliary currency, in practise formed a separate monetary system. Their exchange rate with the silver-based primary currency fluctuated constantly. Coin designs varied across regions, and there were considerable differences in minting quality and copper composition. The units of denomination were also diverse and complex, including wen, mei, fen, li, and xian. In AD 1935 (24th year of the Republic), the Nationalist government initiated further monetary unification, designating the Shanghai Mint as the sole institution authorised to issue coinage, thereby bringing an end to the copper coin system inherited from the late Qing dynasty and ushering in the era of legal tender currency.

In addition to disorder caused by a lack of central authority and rampant private minting, large-scale unauthorised official imitations also existed. In AD 1920 (the 9th year of the Republic), General Kong Fanjin, then Commander of the Longnan Garrison, was stationed in Tianshui. He ordered the mass sand-casting of imitation ten-cash and twenty-cash coins modelled after other provinces, with extremely poor craftsmanship and materials, to make up for fiscal shortages. This illicit minting continued for five years. In AD 1924, after acquiring new machinery, Kong shifted production to larger denominations—fifty-cash and one-hundred-cash coins—intended for sale and recasting. Ironically, the so-called “Tianshui sand-cast” inferior coins have become rare survivors and valuable artefacts for numismatic study today.

物件編號: A2952

年代: 公元 1912-1928 年

材質: 紅銅

尺寸: 28.0 x 27.7 x 1.2 mm

重量: 6.15 g

來源: 斯賓克拍賣行 2023

這是一枚以財政部於公元1912至1928年所發行之開國紀念幣之幣圖為範，私鑄之十文銅元。

銅元正面中央幣文為「十文」，似為楷書，兩側以嘉禾及草葉簇擁。以細環及珠圈相隔，外圈上方原環列英文「THE REPUBLIC OF CHINA」即國號「中華民國」；此幣則隱約為「TIIE RI…」其後字跡漫漶；兩側各以四點花飾相隔兩行幣文，下方原環列「TEN CASH」，即「十文」；此處為「TƎИ CΛSH」。

銅元背面中央為雙旗圖，右為北洋政府時期之國旗五色旗，象徵五族共和；左為鐵血十八星旗，自武昌起義後象徵漢地十八省聯省共和。原星芒改為頭尾粗中間細，整體形似針氈球。雙旗交叉，以纓相繫，有穗垂下，纓結僵直。雙旗左右側原圖花葉纏枝，此處寸斷，末端有蝶狀花，上方原環列國號「中華民國」，此處漫漶不清；下方環列「開國紀念幣」，似為隸書，「國」字「或」旁、「紀」字「糸」旁、「念」字「今」旁，皆為異書。

銅元正背面幣緣均為外環內方齒，環與方齒間時有隔斷，模糊隱起。幣稜光素無紋。此幣或以行用幣翻砂改鑄而成，或再經工人不識英字者於掛砂而字模不顯處加筆，故多有錯漏。

民國元年(公元1912年)，中華民國成立，帝制終結，共和方興。政府決定發行「開國紀念幣」，藉此宣揚共和理念、穩定民心與財政，同時替代傳統中國使用的方孔圓錢，形制上接軌世界。最初由南京臨時政府主導，隨後北洋政府繼續發行。此後，由於長期政局板蕩，軍閥割據，銅元名為輔幣，實則自成體系，與銀主幣匯率隨時而升降。幣圖各地不同，工藝與銅質更是差別頗大，紀值單位亦複雜多元，有文、枚、分、釐、仙等。民國二十四年(公元1935年)，國民黨政府開始進一步統一幣制，規定僅上海鑄幣廠有鑄幣權，終結作為晚清遺緒的銅元制，進入法幣時代。

除中央威權不彰，民間私鑄混亂外，另有官方大宗倣鑄者。民國九年(公元1920年)，孔繁錦任隴南鎮守使，駐防天水。孔繁錦並下令大量翻砂倣鑄他省十文、二十文幣，工藝、品質皆低劣，以補財政，其濫鑄達五年之久。但民國十三年(公元1924年)，孔新購機器後，購銷銅錢以改鑄五十文、一百文之大錢。所謂「天水砂版」劣錢如今反而存世不多。