CHINA Empire Qing Dynasty Dragon Copper
FUNG-TIEN PROVINCE 20 CASH 1905
Liaoning Shenyang Mint, 乙巳
Weight: 12.6 grams; Size: 31 mm; Material: Brass
Guang Xu Yuan Bao, A.D. 1903
On the obverse of this coin, four big Chinese characters inside beaded circle means Kuang Hsu valuable coin and the two Manchu characters in centre are "Bao Feng". In the outer circle, Chinese characters above means made in Fengtian Province, and the six Chinese characters below means value 20 cash.
On the reverse is the emblem of flaming dragon flying in clouds inside the beaded circle. In the outer circle, is the English inscriptions and two small stars on each side.
References: Y# 90 乙巳
Chinese Dragon Copper Coin
For the shortage of the old copper cash in the late Qing dynasty, the tradition casting method did not help economically to solve the problem. When Hong Kong one cent copper coins were occasionally in circulation with the value to ten cash coins in the local market of Kwangtung. The existence western style coinage in Hong Kong directly influenced the Chinese mint authority.
The Acting Viceroy of Kwangtung and Kwangsi Province, Te Shou consulted with Li Hung-chang , his predecessor, decided to mint a new model copper coin called "T'ung Yuan". "Tung Yuan" was first minted in Kwangtung in the 26th year of the Kuang Hsu reign (1900AD). The coin was minted by machine without hole in the center. It was equivalent to ten cash at the early beginning. The use of copper to make one "T'ung Yuan" is equal to six old cash coin only.
The "Tung Yuan" was quiet welcomed by the population for its convenience compared with the old cash coins. The Chinese government also encouraged other provinces to follow the good example of Kwangtung in order to solve the fiscal problem. Other provinces found it was profitable to mint "T'ung Yuan", they vied with each other to do the same business of minting the new coins. For the over-supply of the new copper coins, this caused the value of "T'ung Yuan" declined in the rate of exchange with silver dollars. In 1911, Its rate of exchange to the silver dollar was approximately dropped to 180 to 1 from 100 to 1 of the early beginning.