Auto Dollar
| Value | One Yuan (圓壹) |
|---|---|
| Mass | 25.80 g |
| Diameter | 39 mm |
| Shape | Round |
| Composition | Silver |
| Years of minting | ROC 17 (1928) |
| Mintage | 648,000 |
| Obverse | |
| Design | Zhou Xicheng's car driving on a road, with grass along the front arranged to spell his personal name |
| Reverse | |
| Design | Text surrounding a central flower motif |
The Auto Dollar (Chinese: 汽車錢; pinyin: Qìchē qián; lit. 'Automobile Coin', also known as the Motorcar Dollar or the Kweichow Auto Dollar) is a silver one-yuan coin minted by Chinese warlord Zhou Xicheng in 1928 to commemorate the construction of roadways in Guizhou province. The obverse of the coin features an automobile driving along a road, flanked by grass arranged to spell out Zhou's personal name, Xicheng (西成; Xīchéng). Rising to power in the mid-1920s, Zhou acquired the rural province's first known automobile, and oversaw the construction of roadways across the region. Although some sources described Zhou's automobile as a soft-topped model from the Hudson Motor Car Company, the vehicle featured on the coin does not appear to closely correspond to any specific make or model. 648,000 coins of the type were produced at a small mint established by Zhou in Guiyang. The coin quickly exited circulation in the early 1930s due to demand from international coin collectors. A rare and heavily counterfeited type, a certified example graded in Almost Uncirculated condition sold for 192,000$ USD at a 2022 auction.
Background[edit]
Prior to the late 19th century, silver coinage in China was largely limited to imported foreign coins, used alongside copper cash coins and the sycee silver ingot currency. Large-scale domestic production of silver coins began around 1890 in Guangdong in order to compete with foreign silver. By 1910, provincial silver mints had emerged in around half of Chinese provinces. The introduction of centrally-produced silver coinage by the Qing government delayed due to the uncertain primacy of the tael or dollar (圓; yuán) as a base monetary standard. The central mint at Tianjin only produced limited quantities of dragon dollars before the 1911 Revolution, and was destroyed the following year. Central coinage entered production again in 1915, but was stifled by the emergence of the Warlord Period. A unified national coinage system would not be achieved until 1932–1933, with the opening of the Shanghai Central Mint by the Nationalist government.[1][2]
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Displacing the dragon dollar designs were coins featuring the busts of influential political and military leaders. Coins featuring depictions of Sun Yat-sen and Yuan Shikai were common in the early years of the Republic. Other figures were featured on various copper, silver, and gold coins, often intended as commemorative pieces, rather than circulating currency. Regional warlords such as Tang Jiyao, Lu Rongting, Duan Qirui, Cao Kun, and Zhang Zuolin commissioned coinage featuring themselves to commemorate their achievements and boost their political prestige during the political and military turmoil of the late 1910s and 1920s.[3]
Yuan Zuming served as the military governor of Guizhou province until his death at the hands of Nationalist forces in 1927 for an alleged lack of loyalty. Following this, his nominal lieutenant Zhou Xicheng assumed full control of the province. Zhou, already a prominent civil governor and warlord, aligned closely with the Nationalist government and invested heavily in Guizhou's civil infrastructure.[4] He imported the province's first known automobile around 1926, described in the memoirs of engineering advisor Oliver Julian Todd as a "seven-seater American automobile".[5] Some sources describe this car as a "soft-top" model produced by the Hudson Motor Car Company.[6] In addition to large scale road construction across the province, Zhou sponsored various infrastructure and construction projects in Guiyang. Among these included the construction of an arsenal and a small mint in the city.[7]
Design and history[edit]
No mints existed in Guizhou during the early 1920s, and it relied on coinage produced in other provinces. In 1926, a provisional mint was established in southern Guizhou, using machinery and coin dies taken from the Chengdu mint.[8] In large part due to the machinery and technicians provided by the local arsenal, the Guiyang mint was able to produce coinage by 1928.[7] Unlike many other regional warlords in China, Zhou never commissioned coinage featuring his image. This may have been due to a desire to avoid association with other warlords and emphasize his loyalty to the Nationalist government.[7]
Although generally serving to recognize Zhou's reputation for road construction, the coin is generally thought to memorialize the 1928 completion of a provincial highway in Guizhou. The obverse features an automobile driving along a road, with grass in the foreground arranged to spell out Xicheng (西成; Xīchéng), his personal name, when the coin is tilted 90 degrees.[9][10][11] The vehicle featured on the coin does not perfectly match with descriptions of Zhou's car; it is depicted with a hard-topped roof and a design not matching with any specific make or model.[12] The reverse features simple Chinese text, including the Chinese Republican calendar date, 17 (1928 AD).[10] Struck in silver, the coin has a weight of 25.8 g (0.9 oz) and a diameter of 39 mm (1.5 in). 640,000 pieces were issued. Some varieties exist, mainly from differences in the rendering of the vehicle or the Chinese text. [13]
Legacy and collecting[edit]
The coin became popular with collectors soon after its release. By the early 1930s, the coin had become increasingly scarce in circulation due to demand from international collectors.[10] One of the coins, graded AU 53 by the Numismatic Guaranty Company, auctioned for $192,000 USD in January 2022.[14] As of 2016, the highest graded example is an MS 61 piece graded by the Professional Coin Grading Service.[15]
Due to the coin's rarity, they are commonly counterfeited. Counterfeit examples are typically of higher quality and consistency, due to the endemic die flaws and poor metal quality within the original issue.[16][14]
References[edit]
Citations[edit]
- ^ Wright 1992, pp. 97–98.
- ^ Wright 1978, pp. 148–149.
- ^ Bevan 2019, pp. 346–347.
- ^ Bevan 2019, pp. 347–350.
- ^ Bevan 2019, p. 352.
- ^ Wright 1978, p. 159.
- ^ a b c Bevan 2019, pp. 354–355.
- ^ Wright 1978, pp. 168–170.
- ^ Bevan 2019, pp. 345–346.
- ^ a b c China Weekly Review 1933, pp. 450–451.
- ^ Hernandez, Jaime (August 12, 2013). "A Warlord Produces the China 1928 Auto Dollar". Professional Coin Grading Service. Retrieved May 31, 2024.
- ^ Wright 1978, pp. 169–170.
- ^ Thomas & Schmidt 2017, p. 434.
- ^ a b "NGC-certified Chinese "Auto Dollar" Realizes $192,000 in January Sale". Numismatic Guaranty Company. February 7, 2022. Retrieved May 31, 2024.
- ^ Starck, Jeff (December 4, 2016). "Finest known Chinese 1928 Auto dollar in auction". Coin World. Retrieved May 31, 2024.
- ^ "Year 17 (1928) Kweichow L&M-609 Dollar". Numismatic Guaranty Company. Retrieved May 31, 2024.
Bibliography[edit]
- Bevan, Paul (2019). "Zhou Xicheng's "Guizhou Auto Dollar": Commemorating the Building of Roads for Famine Relief". Journal of the Royal Asiatic Society. 29 (2): 345–359. doi:10.1017/S1356186318000561.
- "'Motor-Car' Dollar Which Brought Bad Luck to Kweichow General". The China Weekly Review. November 11, 1933. pp. 450–451.
- Thomas, Michael; Schmidt, Tracy L., eds. (2017). 2018 Standard Catalog of World Coins: 1901-2000. Iola: Krause Publications. ISBN 9781440247972.
- Wright, R. N. J. (1978). "The Silver Coinage of China, 1912-1928". The Numismatic Chronicle. 18 (138): 147–175. JSTOR 42666643.
- Wright, R. N. J. (1992). "The Debasement of the Republican Silver Coinage of Yunnan Province". The Numismatic Chronicle (152). ISBN 9781440247972. JSTOR 42667836.