Monetary reform is a common theme throughout history and the world, especially when new political powers are at stake and economic strife at the forefront. However, when and how the new system takes place is important despite the intent. While the need for this next entry in our 100 Greatest Modern World Coins blog series was considerable, its timing was anything but great. Authors of the Whitman Publishing publication, Charles Morgan and Hubert Walker, will take us through this attempt at reform during a tumultuous time.
#11 – China 1906 Gold Kuping Tael Pattern
Founded in 1901 with the purpose of striking the national coinage of China, the Tientsin Mint is in the northern city of Tientsin which is in the former province of Chihli. The 1906 China Gold Kuping Tael, along with other coinage, were to replace the output of China’s provincial mints as a monetary reform was in dire need for the country. However, larger societal issues were glaring, and the efforts to quell the monetary issues were stamped out. On an even larger note, the Qing dynasty would ultimately be brought down.
The 1906 Kuping tael, in addition to the 1907 issue, was created as a pattern. For that reason, very few of them survived. The Chinese dragon is featured on the coin, echoing its status as a cultural symbol of wisdom and imperial power. Legend explains that the dragon’s five toes mean that it is a powerful and respected dragon due to its ability to grasp a mystical pearl called a ruyizhu. The pearl can materialize anything at the desire of the person or thing that wields it. The design on the 1906 Kupling tael is described as an action shot of a powerful dragon in mid-flight trying to capture the pearl as it falls from the sky. The date on the other side is based on the ancient Chinese stem branch 60-year calendar, which states its “Made in the Bing Wu year of [the] Guangxu [Emperor],” or “Made in 1906.” “Bing” is one of the 10 heavenly stems and “Wu” symbolizes one of the 12 earthly branches. “Wu” also relates to the Year of the Horse in the Chinese zodiac.
Comprised of 37.5 grams of gold, an example of the 1906 China Gold Kupling Tael Pattern sold in August of 2014 at a Heritage Auction sale for US$305,500, which included the buyer’s premium. It came from the Ultima Collection.