China, Chihli Guangxu Year 23 silver Yuan 'Pei Yang Arsenal' AU Details

China, Chihli Province, Guangxu (1875-1908), silver Yuan or Dollar, Year 23 (1897), Peiyang Arsenal issue, type 2, Chinese characters centre within innermost beaded border surrounded by Manchu characters, Chinese legend造局器械洋北-年三十二绪光surrounding,rev.ornate dragon with pearl centre, anglicised inscription TA. TSING TWENTY THIRD YEAR OF KWANG HSU above round, PEI YANG ARSENAL below round, edge milled (KM Y.65.1; cf. Kann 186; L&M 444).Graded by NGC as AU Details, Cleaned.

NGC Certification 6944739-027

Calendar year mintage 1,120,000.

The Chinese characters and Manchu characters on obverse translate as "Great Qing, made in the year 23 of Emperor Guangxu by the Pei Yang Arsenal mint."

While coins had been produced in the Chihli Province of China for thousands of years, it was not until 1896 that a mint was set up in the East Arsenal of Tientsin, which struck both silver and copper coins for circulation. Five denominations were produced in silver, which include the 5, 10, 20, and 50 cents, as well as the dollar (Yuan). These denominations differed from other provinces, as they were not denominated in mace and candareens. Though weights and metal composition were consistent with other provincial coinages, this difference made the coins unpopular for trade outside of Chihli Province. As a result of both their unpopularity and low initial mintages, the dragon type was discontinued in 1899. Surviving coins are scarce in any condition, and in recent years have become extremely desirable amongst collectors.