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China Chihli (1896) Dollar LM-439 ex. Kann and Goodman, PCGS VF35. Courtesy of PCGS. Click image to enlarge.

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 produced both struck silver and copper coins for circulation. The first year of production for the Pei Yang Arsenal Mint in Chihli was 1896. Five denominations were produced in silver, which include the 5 cents, 10 cents, 20 cents, 50 cents, and dollar. These denominations differed from other Chinese coinages, as they were not denominated in mace and candareens. Today, surviving coins are scarce and desirable.

A submission to PCGS via the Hong Kong office in late 2022 contained one of these scarce first-year-of-issue Pei Yang Arsenal Dollar coins. The coin, issued in the 22nd year of Kuang Hsu, contains three languages: English, Chinese, and Manchu. The official reverse of the coin features a unique dragon motif. The reverse also showcases the English language stating “TWENTY SECOND YEAR OF KUANG HSU” and “PEI YANG ARSENAL.”

The official obverse is the side featuring both Chinese and Manchu. The Chinese reads 清大 造局器械洋北 - 年二十 二绪光, translating to “Great Qing Pei Yang Arsenal Mint Year 22 Guangxu.” The Manchu script translates the same. The year 22 corresponds to the 1896 AD date. The design of the Pei Yang Arsenal coinage changed the next year, 23, to a different design of dragon. In 1899, this series of coins was discontinued by the mint. The Pei Yang Arsenal Mint was upgraded in 1901 with modern machinery. Resuming production in 1904, the mint was looted and burned down in March 1912 with the Revolution. The mint was reconstructed as the Tientsin Mint in 1914.

This 1896 Pei Yang Arsenal Chihli Dollar example featured here was submitted to PCGS and is about as good as it gets when it comes to a pedigree for a Chinese coin. It originated from the collection of E. Kann, the author of Illustrated Catalog of Chinese Coins. After being sold in his collection sale, it was purchased by Irving Goodman and was offered as Lot 289 in a sale pitching his collection. The coin was certified by PCGS and was graded VF35. The coin had an original mintage of only 3,000 coins, making it rare from the start. Many pieces would not survive, and today any genuine example is a desirable coin.