Item number: A2972

Year: AD 1912-1928

Material: Copper

Size: 28.5 x 28.5 x 1.4 mm

Weight: 6.8 g

Manufactured by: Wuchang Mint

Provenance: Spink 2023

This is a ten-cash copper coin, a type of “Founding of the Republic Commemorative Coin,” minted by the Wuchang Mint and issued by the Ministry of Finance of the Republic of China between AD 1912 and 1928.

At the centre of the obverse is the inscription “Ten Cash” in clerical script. On both sides, the inscription is flanked by decorative clusters of mature grain and foliage. The leaves on either side are bound together with tasselled cords, forming an almost perfect circular knot. A thin ring separates the central motif from the outer inscription. Along the upper perimeter is the English legend “THE REPUBLIC OF CHINA”, representing the national title “Zhonghua Minguo”. On both sides, the two lines of inscription are separated by four-petalled floral ornaments. Along the lower perimeter is the English inscription “TEN CASH”, indicating the denomination. The right side of the obverse exhibits significant wear.

The reverse features a central motif of crossed flags. The flag on the right is the Five-Coloured Flag used during the Beiyang Government era, symbolising the unity of the five major ethnic groups. The coloured stripes of the flag are rendered as flat, evenly carved bands, separated by intaglio curved lines. This configuration is referred to as the “flat stripe flag”. The flag on the left is the Iron-Blood Nineteen-Star Flag, which, after the Wuchang Uprising, symbolised the federated republic of the eighteen Han provinces. In this standard version, the flag features a recessed nine-pointed star and nineteen raised stars arranged in a circular formation that is not distorted by the shape or motion of the flag, a style known as the “circular intaglio nine-point” pattern. The two flags are crossed and tied with tasselled cords into a central knot. A fine beaded circle separates the central image from the inscriptions. Along the upper perimeter appears the national title “Zhonghua Minguo” (“Republic of China”), and along the lower perimeter is the inscription “Founding Commemorative Coin”, both rendered in regular script. On either side, the two lines of inscription are separated by five-petalled floral ornaments with central dots. The left side of the reverse shows considerable wear.

Both the obverse and reverse rims of the coin are surrounded by a raised ring with inward-facing rectangular fine denticles, referred to as “horse teeth”, serving to protect the coin’s design. The coin’s edge is smooth and unornamented.

The origin of this coin can be traced to initiatives by Zhang Zhidong, Viceroy of Huguang, who in AD 1900 (Guangxu 26) ordered the New Branch of the Silver Coin Bureau to begin trial production of ten-cash copper coins. Mass production commenced the following year upon imperial approval. In AD 1902 (Guangxu 28), the bureau was reorganised into the Hubei Copper Coin Bureau, dedicated solely to coin production, with a branch established at the Hanyang Arsenal to expand output—eventually becoming the nation’s leading producer. In AD 1910 (Xuantong 2), these institutions were consolidated into the Wuchang Mint. After the Xinhai Revolution, the mint became a major coinage facility under the Hubei Military Government, the Provisional Government, and later the Beiyang Government. In AD 1928, the seventeenth year of the Republic of China, following the completion of the Northern Expedition, the Nationalist Government restructured the currency system, and all old coinage was discontinued from minting.

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.

物件編號: A2972

年代: 公元 1912-1928 年

材質: 紅銅

尺寸: 28.5 x 28.5 x 1.4 mm

重量: 6.8 g

製造地: 武昌造幣廠

來源: 斯賓克拍賣行 2023

這是一枚由武昌造幣廠所鑄，財政部於公元1912至1928年所發行之開國紀念幣，面額十文之銅元。

銅元正面中央幣文為「十文」隸書，兩側以嘉禾及草葉簇擁，兩側草葉以纓相繫，結環幾呈正圓。以細環相隔，外圈上方環列英文「THE REPUBLIC OF CHINA」即國號「中華民國」；以四瓣花飾分列兩側，相隔兩行幣文，下方環列「TEN CASH」，即「十文」。右側多有磨損。

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，五色旗各色條雕刻以平整的條帶表示，以陰刻曲線間隔，稱「平條旗」；左為鐵血十九星旗，自武昌起義後象徵漢地十八省聯省共和，此普通版為陰刻九角暨陽刻十九星，整體呈圓，不隨旗幡拉長，稱「圓陰九點」。雙旗交叉，以纓相繫成結。以細珠圈相隔，上方環列國號「中華民國」；下方環列「開國紀念幣」，皆為楷書。兩側分飾中央有點之五瓣花，以相隔兩行幣文。左側多有磨損。

銅元正背面幣緣均為凸環，有矩狀細齒向內，稱「馬齒」，作保護幣圖之用。幣稜光素無紋。

湖廣總督張之洞於光緒二十六年(公元1900年)始由銀元局新廠試製當十銅元，次年奉旨大量製造。光緒二十八年(公元1902年)改組為湖北銅幣局，專責鑄幣，並於漢陽兵工廠另設分廠，產量居全國之冠。宣統二年(公元1910年)，相關機構整併為武昌造幣廠。辛亥革命後成為鄂軍都督府，臨時政府及北洋政府中央重要造幣基地。民國十七年(公元1928年)，北伐完成，國府重整幣制，舊錢一概停鑄。

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。