The Twenty-Sixth Issue of JEAN

東亞泉志

No.26

2022.04 / Issue 44

THE JOURNAL OF EAST ASIAN NUMISMATICS 中英雙語 - 電子季刊

Bilingual (English - Chinese) Digital Quarterly

25 th

周年

JEAN 1994-2019

19世紀的山東青島 /Tsingtao, Shuntung, Province in the 19th Century

Tsingtao

青島大德國寶伍分鎳幣；青島大德國寶壹角鎳幣 /Tsingtao Da De Guo Bao 5 Cent Nickel Coin；Tsingtao Da De Guo Bao 10 Cent Nickel Coin

民國十六年（1927 年）張作霖像壹圓陸海軍大元帥紀念銀幣，NGC MS62，耿愛德舊藏 /1927 Chang Tso Lin Silver Dollar with Dragon and Phoenix, NGC MS62, Kann Collection

Tsingtao 『本期專題 | FEATURES 』 鑄地存疑的中國金幣偽品

Chinese Gold Coins of Doubtful Origin and Bogus Concoctions

耿愛德舊藏張作霖像背龍鳳壹圓等紀念銀幣即將亮相泰星拍賣

The Chang Tso Lin Silver Pattern with Dragon and Phoenix from the Kann Collection will be Auctioned by Taisei

2021 年中國錢幣市場回顧 第二部分：2022 年市場展望

2021 Chinese Coin Market Review Part II - Market Outlook of 2022

為青島發行的德國貨幣

German Dollars for Tsingtao

僅供内部使用

2022 年坦桑尼亞母親節永生玫瑰 1000 先令熊貓紀念銀章 2022 Tanzania Mother's Day Forever Rose Panda 1000 Shillings Commemorative Coin

《東亞泉志》為冠軍拍賣公司總裁周邁可先生和著名錢幣學

JEAN

《東亞泉志》

專家史博祿先生於1994年創辦，是一本學術性錢幣研究專

業雜誌。旨在讓廣大錢幣收藏家、研究學者更深入地瞭解錢

幣知識，讓世界各地的讀者更好地瞭解中國深厚的錢幣文化。

2022 免費訂閱

《東亞泉志》於1994年7月份問世，1999年停刊，發行了

18期。2015年5月，周邁可先生決定於2016年1月復刊《東

中英雙語 - 電子季刊

亞泉志》，聘請著名錢幣研究學者袁水清先生擔任主編。

Bilingual (English - Chinese) Digital Quarterly

以披露最新錢幣收藏研究成果、推介泉界成 功人士的事蹟為主。主要欄目有學術研究、 人物專訪、鑒賞爭鳴、拍賣回顧、重要信息等。

25 th

No. 26

周年

JEAN 1994-2019

2022. 04 / Issue 44

志 東亞 泉 志 志亞 泉東亞泉志 東亞 泉東 No. 18

No. 17

15 No.

/ Issue 2020. 01

35

2020. 04 / Issue

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東亞

No. 20

2020. 07 / Issue 37

泉東 志亞 泉東 志亞 泉

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1994-2022 THE JOURNAL OF EAST ASIAN NUMISMATICS

Reader are welcome to contribute articles. 歡迎投稿 ! Chinese / 中文 / jeanzg@163.com English / 英文 / championghka@gmail.com

Advisors

Chinese Editor

Che-lu Tseng

Yuan Shuiqing

顧問

中文主編

曾澤祿

袁水清

Hans-Henning Goehrum 漢斯 - 亨寧 · 格魯姆 Technical Advisor

Ma rket i ng Adv isor

US Correspondent

European Correspondent

Gu Jun

Mark Sutton

J. Matthew Brotherton

Oliver Strahl

技術顧問

市場顧問

顧軍

馬克·修頓

美國通訊員

馬修 · 布拉澤頓

Publisher & Editor in-Chief

Advertising & Circulation Manager

Michael H. Chou

Esther Zhao

Senior Editor

Design Director

出版人 & 總編輯

奧利弗·斯特拉爾

廣告與發行經理

周邁可

趙婷婷

高級編輯

美術設計

Bruce W. Smith

Steve Feller

史博祿

「 中英雙語 · 電子季刊

歐洲通訊員

史蒂夫·費勒

|

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（

FOREWORD Welcome to issue 26. One of our feature articles is the article German Dollars for Tsingtao on German Kiaochow coinage by Michael Kunzel. A reprint of Kann's article on Chinese fantasy coins still brings an immense amount of useful information for today's collectors. We have an extremely interesting article from Mr. Zhou Bian on the Karluk coins in Zhetysu, Central Asia in the eighth and ninth centuries. From NGC, we continue to have interesting articles from Jeff Garrett about Pergamum coinage under the Romans and David Vagi about NGC-certified million-dollar coins in 2021. The upcoming 4/30 Taisei auction during the 2022 Tokyo International Coin Convention has a fabulous section of ancient and vintage Chinese coins, including one of the great rarities of Republican coinage, the 1927 Chang Tso Lin Dollar from the 1971 Kann Auction, graded NGC MS62. In the auction is also an NGC PR63+ 1867 Shanghai Tael with rays variety and a 1932 Gold Standard Dollar Silver Pattern graded MS60 by NGC. We think this auction may be the leading auction of Chinese vintage coins and will help set market trends for the near future. There is a chance this auction may also set the record realization for a Japanese numismatic auction. This issue also introduces a rare 1/2 Dol silver pattern by the Austrian Mint which will be auctioned by Küenker. In this issue, we have a book review about Macau currency in circulation. Mr. Mark Lovmo also has an article about the story behind his new book South Korean Coins in the Era of Development . We also have an article about the 2022 Coin of the Year Award for Lifetime Achievement by COTY coordinator Thomas Michael. Mr. Colin Gullberg had an interview with Bruce Smith about chopmarked coins in 2011, and this interview which was originally published in the Chopmark News letter is included in this issue. A very sad news to report from Taipei. A founding member of our journal office in Taipei and one of the founders of Champion Auction and iAsure group, Mr. Howard Chen

passed away on March 16 in Taipei. Mr. Chen was not only a close friend but business partner in most of my numismatic and technology activities since the early 1990s. He was an extremely generous person and student of numismatics, building one of the finest collection of vintage Chinese coins in the 1990s. He will be sorely missed by everyone, especially for his big smile. We have two important coin show reports from our US correspondent Matthew Brotherton about the first major numismatic event of the year, the FUN coin show, and our friend and chief editor of our many previous book projects Ron Guth of the Long Beach show where the Top Chinese Coins US release was held. The journal expects to help host two seminars at ANA Chicago World Fair of Money Convention on August 18th. First is the book release of Mark Lovmo's new book on Korea modern coins which will be published by iAsure Group's Journal of East Asian Numismatics and second seminar on the same day based on leading newsletter Chopmark News by Colin Gullberg. Colin will give an update on chopmark collecting and the latest information in the field since his book was published 10 years ago and his recent work as editor of the Chopmark Newsletter . We hope our readers will be able to attend both seminars in Chicago, which hopefully will be held back-to-back on the morning of August 18, and for these who cannot the seminars will be available on video after the show. Our chief editors of Top Chinese Coins-Third Edition , another book published by the JEAN, Ron Guth and Michael Chou will both be at the ANA Chicago show and a limited number of copies of the Top Chinese Coins book will be available for signing at the show. We hope there is an article of interest for our readers in this issue and we look forward to meeting our readers again at leading international numismatic events in 2022.

Michael Chou Publisher & Editor-in-Chief

CONTENTS

Zhang Jiongbo〔Shanghai〕

08 12

1884 Kirin Silver Coin from the Collection of Ching Tse Wei

16 29 31 33

Peeling Back The Layers: The Research Effort Behind The Upcoming Mark Lovmo〔USA〕 Book-South Korean Coins In The Era Of Development

60 71

The February 2022 Long Beach Show: A Report

Ron Guth〔USA〕

The Book of Macau Banknotes and Coins in Circulation: A Complete Record of the Currency in Circulation in Macau Zhou Bian〔Shanghai〕 Interview with Bruce Smith Originally Published in The Chopmark Colin Gullberg〔Taipei〕 News in 2011

A Rare 1/2 DOL Silver Pattern by the Austrian Mint to be Auctioned by Künker on March 23rd Champion〔Shanghai〕

DEPARTMENTS

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Winter 2022 FUN Show in Orlando, FL Proves the Numismatic J. Matthew Brotherton〔USA〕 Market Remains Hot During Year of the Tiger

A study of the money minted in the Zhetysu of Central Asia in the Zhou Yanling〔Shanghai〕 eighth and ninth centuries by Qarluks Michael Chou〔Taipei〕

In Memory of Howard Chen

FEATURES

120 136

COLUMN

77 86

147 159 171

E. Kann〔USA〕

Chinese Gold Coins of Doubtful Origin and Bogus Concoctions

The Chang Tso Lin Silver Pattern with Dragon and Phoenix from the Kann Collection will be Auctioned by Taisei Champion〔Shanghai〕 Champion〔Shanghai〕

2021 Chinese Coin Market Review Part II : Market Outlook of 2022 German Dollars for Tsingtao

Michael Kunzel〔Germany〕

Pergamum Coinage under the Romans Over a Dozen Times, NGC-Certified Coins Topped $1 Million in 2021 Thomas Pesendorfer Honored With 2022 COTY Lifetime Achievement Award

David Vagi〔USA〕

Jeff Garrett〔USA〕

Thomas Michael〔USA〕

前言 yan

（

qian

歡迎大家閱讀《東亞泉志》第26 期。

本期的專題文章之一是邁克爾 · 昆澤爾（Michael Kunzel）撰寫 的關於膠州鑄幣的《為青島發行的德國貨幣》一文。

我們還轉載了耿愛德關於中國近代臆造的金幣的文章，該文對當 今的機製幣藏家而言仍富含大量的有用信息。

周延齡先生還就 8世紀至9世紀中亞七河地區的葛邏祿錢幣撰寫了 一篇有趣的文章。

從臺北傳來一個非常不幸的消息 ： 《東亞泉志》臺北辦公室創始成

員暨冠軍拍賣和愛秀集團的創始人之一陳元和先生於3月16日在臺 北逝世。讀者從我寫的悼念文章中可知，陳先生不僅是我的一個

親密的朋友，而且是我 20世紀90 年代初以來的商業夥伴。他是一

個非常慷慨的人，在 20世紀90 年代建立了最好的中國機製幣收藏。 大家會非常想念他，特別是他的燦爛笑容。

本期還有兩篇重要的錢幣展報 道，一 個是我們的美國通訊 員馬

修 · 布拉澤頓（Matthew Brotherton）關於2022年第一個重要的

我們繼續刊載傑夫 · 加勒特（Jeff Garrett）關於羅馬人統治帕加

錢幣活動⸺ 佛羅里達錢幣展的報道，另一個是我們的朋友和我

2021年 NGC 認證的拍賣成交價逾百萬美元硬幣的文章。

展的報道，我們在長灘進行了《中國近代機製幣精品鑒賞 第三版》

馬時發行的錢幣的有趣文章，以及大衛 · 瓦吉（David Vagi）關於

在 2022年東京國際錢幣展會期間，泰星拍賣即將於4月29日舉行 精彩的中國機 製幣 拍賣，其中包括民國時期 錢幣中最稀 有的一 枚，即1971年耿愛德拍賣會上亮相的1927年張作霖像背龍鳳壹圓

紀 念 銀幣，評 級為 NGC MS62 。在拍賣會上，還有一枚 NGC

PR63+ 的1867年 上 海 壹 兩 射 線 版， 經 評 NGC MS60 的 民 國

二十一年金本位幣銀質樣幣。我們認為，這次拍賣會將引領中國 機製幣收藏的方向，並將有助於確定近期的市場趨勢。這次拍賣 有可能創造日本錢幣拍賣的紀錄。

本期還介紹了罕見的奧地利造幣廠1910 年宣統年造大清銀幣伍角

樣幣，將由昆克公司拍賣。

在這一期，我們有一篇關於澳門流通貨幣的書評。馬克 · 洛沃莫

（Mark Lovmo）先生也有一篇文章介紹了他的新書《發展時代的 韓國錢幣》背後的故事。

我 們 還有一篇 關 於2022年世界 硬 幣大 獎 賽 終 身成 就 獎 的 文 章，

由 世 界 硬 幣 大 獎 賽 提 名 委 員 會 委 員 托 馬 斯 · 邁 克 爾（Thomas

Michael）撰 寫。高 林（Colin Gullberg ）曾在 2011年對史博 祿

進行過一次關於戳記幣的採訪，這篇最初發表在《戳記幣通訊》上 的採訪也被收錄在本期雜誌中。

們以前許多書籍項目的主編古富先生（Ron Guth）關於長灘錢幣 的美國首發。

《東亞泉志》計劃在8月18日的芝加哥美國錢幣協會國際錢幣展銷

會上幫助舉辦兩場研討會。首先是馬克 · 洛沃莫（Mark Lovmo） 關於《發展時代的韓國錢幣》的新書發佈，該書將由愛秀集團的《東 亞泉志》出版。同日舉行的第二場研討會乃是關於高林所著《戳 記幣簡史》，作者將介紹他的書自10 年前出版以來，有關戳記幣收

藏的最新情況和該領域的最新信息，以及他最近為《戳記幣通訊》 所做的編輯工作。我們希望讀者能夠參加在芝加哥舉行的兩場研 討會，這兩場研討會將在8月18日上午舉行。對於那些不能蒞臨會

議的人來說，我們會在展銷會結束後提供視頻。

由《東亞泉志》出版的另一本書⸺ 《中國近代機製幣精品鑒賞 第

三版》，其主編古富和周邁可都將參加這次芝加哥國際錢幣展銷會， 並在展銷會上限量簽贈《中國近代機製幣精品鑒賞 第三版》。

希望我們的每位讀者都可以在本期找到自己感興趣的文章。我們 期待在 2022年的芝加歌國際錢幣活動中再次與讀者見面。

《東亞泉志》總編輯兼出版人

周邁可

目錄 mu

10 14 23 30 32 43 56 66 74

光緒十年吉林銀幣

虎年伊始錢幣市場火熱依舊：2022 年美國佛州冬季錢幣展觀感 揭開層層面紗： 《發展時代的韓國錢幣》即將出版 2022 年 2 月長灘錢幣展觀感

lu

張絅伯〔上海〕

馬修·布拉澤頓〔美國〕

馬克·洛夫莫〔美國〕

一部完整記錄澳門流通貨幣的書： 《澳門發行流通鈔票及硬幣大全》

古富〔美國〕

周 邊〔上海〕

2011 年對史博祿先生關於戳記幣的訪談

高 林〔臺北〕

8 世紀至 9 世紀中亞七河地區葛邏祿鑄錢考

周延齡〔上海〕

奧地利造幣廠制珍稀樣幣—1910 年宣統年造大清銀幣伍角亮相德國昆克 3 月 23 日拍賣 冠軍研究室〔上海〕 緬懷陳元和先生

部 門

周邁可〔臺北〕

專 題

82 103 128 142

鑄地存疑的中國金幣偽品

專 欄

153 165 174

古羅馬帕加馬錢幣

耿愛德舊藏張作霖像背龍鳳壹圓等紀念銀幣即將亮相泰星拍賣 2021 年中國錢幣市場回顧 第二部分：2022 年市場展望 為青島發行的德國貨幣

2021 年經 NGC 認證的硬幣有十幾枚的價格突破 100 萬美元

奧地利首席錢幣設計師托馬斯·佩森多費爾榮獲 2022 年 COTY 終身成就獎

耿愛德〔美國〕

冠軍研究室〔上海〕 冠軍研究室〔上海〕

米歇爾·昆澤爾〔德國〕

大衛 · 瓦吉〔美國〕

傑夫·加勒特〔美國〕 托馬斯·邁克爾〔美國〕

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Republishment of Old Issues

1884 Kirin Silver Coin from the Collection of Ching Tse Wei ◎ Zhang Jiongbo 〔Shanghai〕

On the right is a set of silver coins of six sizes, including one

into three lines, with three characters on each line, saying

tael, seven mace, half tael, three mace, two mace, and one

that it is produced in the 10th year of Guangxu by the

mace. According to pages 8 to 9 on the fortieth volume of

Bureau of Kirin Machinery Officials. On the other side, the

the Record of Kirin , General Xiyuan ( 希 元 ) purposed on

denomination ranging from one tael to one mace is written

November 24, 1884:

in the square grid surrounded by a cloud pattern in the official script, and Manchu characters are on four sides of

"As Kirin province has had a lack of coins for a long time,

the square grid. Taking the one tael coin as an example, the

the market has become depressed. Given the discussion, the

Manchu character on the left means Kirin; the character on

only resolution to solve the problem is to strike silver coins

the right reads Teherebuku, corresponding to the Chinese

according to the pattern of cash coins to replace the notes.

character ping [ 平 ]; the character on the top reads Emu

First of all, a total of 5,000 taels of silver will be handed

and means 'one', and the character at the bottom reads

over to the mint to strike coins of one mace, three mace, five

Ruoyan and means 'tael'. Therefore, the Manchu characters

mace, seven mace, and one tael. One side will be inscribed

on this side indicate that this is a one tael coin. As for two

with the year, and the other side with the weight and the

Manchu characters which mean 'one tael', these are the

'Kirin chang ping ' [ 吉林廠平 ] in Chinese and Manchu. As

same as the inscription on the tian cong da qian [ 天聰大錢 ]

Kirin has been locally called 'shipyard', which reads chuang

cash coin, only with a slight difference in the calligraphy.

chang [ 船廠 ] in Chinese, chang ping [ 廠平 ] is used as the

These characters have been identified and interpreted by

weighing system of the coins there. Whenever there is a need

Zhang Shuwei ( 張叔未 ), whose analysis is hereby followed.

to release salary, the newly struck coins will be issued to

In terms of coins of other denominations, the Manchu

soldiers and used on the market. The merchants and people

characters on the right and left are the same as the one

should be well informed of the situation. The stores in the

tael coins and the characters at the bottom reads jiha and

market can exchange these silver coins according to the

mean 'mace'. The pronunciation of Manchu characters

denomination rather than weighing these coins. In this way,

which means seven and three needs further research and

they will be easy to be used in exchange and we will avoid the

that of five is sunjia . According to Song Zibo ( 宋子波 ), the

disadvantage of depreciation and clipping, benefiting both

above characters were all written by the court historian Wu

stores and merchants. If the plan works in Kirin, we can

Qingqing ( 吳 清 卿 ), and the exquisite pattern of the coins

mint and issue silver coins in a wider range. If the plan does

was also by Wu, of which there is solid evidence.

not work well, we will work to find other resolutions."

It is commonly known that the Kwangtung government

The existing coins are in line with the record except for the

began to follow the west to mint silver coins at the end

five mace and one tael. The planned five mace coins were

of the Qing dynasty. It was in the thirteenth year of

replaced by the half tael coins, and there are two types of

Guangxu's reign (1887), Zhang Zhidong ( 張 之 洞 ), the

one tael coin. On one side, these is a Chinese character shou

governor of Kwangtung, approved setting up a mint bureau

[ 壽 ], which means longevity, in a round shape at the top,

in Guangzhou. The bureau purchased machines and

and twelve characters are listed in a square grid surrounded

constructed the plant. The mint was completed two years

by two dragons without horns. The twelve characters are

later in May 1889. In fact, Kirin started minting five years

divided into three lines with four characters, saying that it

earlier, and it is the first mint to produce machine-struck

was made by the Bureau of Kirin Machinery Officials in

coins in China. However, the mint was unknown for decades

the 10th year of Guangxu's reign (1884). Due to a smaller

for its remote location and limited mintage and circulation.

surface space on the three mace, two mace and one mace

Around 1916, Guiseppe Ros of Italy first discovered a half

coins, there are only nine characters on the reverse, divided

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tael Kirin coin and tried to publish the discovery in a booklet

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in Hankow. Then, the Director of the Japanese Mint, Koga Yimasa, translated Ros' article and published it in the thirtyninth issue of the journal Currency . When it comes to great collectors of recent times, almost all have fractional coins of this kind, but few of them have a one tael coin. At that time, the value of a one tael Kirin coin was as high as a thousand pieces of gold. I was living in my hometown during the autumn of 1919, and I tried to get a full set of dies of Kirin coins from Wang Maotian ( 王 茂 田 ) in Yiqi Zhai. Tracey Woodward also saw this set of dies. He was spirited, so I did not compete with him. China cast silver coins as early as the early Han dynasty. The casting of the coin bai jin san pin [ 白 金 三 品 ] during the Wudi Emperor's reign can be verified by the historical records. In the Tang and Song dynasties, silver was used as

the denomination. Therefore, General Xiyuan should not be

currency directly rather than being cast into silver coins,

blamed for his insistence on minting Kirin coins which used

and tael was used as the unit of silver. Therefore, calculating

the unit of weight as the denomination. In the third year of

the currency with the unit of weight was a long-standing

Xuantong's reign, the central mint began to use one dollar as

habit. It is recorded that, the Tianjin Mint was established

the currency units. When it came to the Republic of China,

at the end of Guangxu's reign, and Hupoo (the Ministry of

weight was no longer used as the currency unit.

Revenue) and the provincial officials were in dispute over the currency unit for a long time. At that time, almost all officials were ignorant of the currency system and held an old-fashioned view. In the reign of Guangxu, all silver coins minted by the central or local governments used weights

（Originally published in the first issue of Chuan Pi (《泉 幣》) of the China Numismatic Society, in July 1940.）

such as one tael or one silver mace and two candareen as

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舊刊新載

光緒十年吉林銀幣 ◎ 張絅伯〔上海〕

右銀幣大小六品，計壹兩、柒錢、半兩、三錢、弌錢又壹錢

上一字為為五字，讀若宋雅 Sunjia。三錢者，三字讀法待考。

各一品。考吉林通志卷四十，頁八至九，載光緒十年十一月

壹錢者，上一字與壹兩者之首一字相同。據宋君子波雲，上

二十四日將軍希元附片曰 ：

列諸品，皆出自吳清卿太史手書，圖案亦太史所繪，故如此 雅致。且謂確鑿有據，當詳詢之。

“再吉省制錢久缺，市面益形蕭條，籌商再四，惟有仿照制

錢式樣鑄造銀錢，以濟現錢之缺，以代憑貼之用。先由俸

清末效法歐美，鼓鑄銀幣，世人皆知自廣東始。時在光緒

練各餉項下提銀五千兩，飭交機器局製造足色紋銀一錢、三

十三年張之洞督粵呈准於廣州設局，置備機器，建築廠屋，

錢、五錢、七錢、一兩等重銀錢。一面鑄刻監製年號，一

費時兩載，至十五年五月方告落成。其實吉林開鑄，尤早五

面鑄刻輕重銀數吉林廠平清漢字樣。蓋吉林地方俗呼船廠，

年，可謂機鑄銀幣之鼻祖。數十年來，湮沒無聞，殆吉省僻

廠平二字，實從俗也。每遇應放俸練各項，即以此項銀錢搭

處東北，所鑄無多，旋興旋廢，流通自寡，世莫之知。民

配發給各兵，俾在街面行使，並剴切曉諭商民人等，按照銀

國四五年間，義國羅斯氏 Guiseppe Ros 首先發見半兩一品，

錢所鑄數目，隨市易換，該鋪商自不能任意輕重，較之零星

嘗在漢口刊印小冊。貨幣雜誌第三十九期，日本造幣廠廠長

銀兩，既不十分瑣碎，又免折耗壓平之弊，如此變通辦理，

甲賀宜政氏嘗譯載之。近時藏家，柒錢以下各品，大抵皆

於商戶自無窒礙，於農民小販似有補益，果能遠近通行，再

備，獨壹兩者，稀如星鳳，時值在千金以上。民八秋間餘旅

查看地面情形，廣為鑄發，設或行使稍滯，自當別籌疏通之

寓故都，嘗在義啟齋王茂田處，得該幣鋼模全套。伍德華氏

法。 ”

Tracey Woodward 見而堅請割讓，乃歸之。

實物與志載，一一相符，惟五錢曰半兩，一錢有兩種為少異。

吾國範銀為幣，遠溯漢初，武帝白金三品，史漢明文，班班

面上列正圓壽字，雙螭環繞，方格中列十二字，分三行，行

可考。唐宋以降，但用生銀，本無幣制，授受之際向以兩計。

四字，曰光緒十年吉林機器官局監製。惟三錢以下諸品，僅

故對於稱量觀念，積久成習，牢不可破。遲至光緒末年，天

九字，分三行，行三字，曰光緒十年吉林官局制。限於地位，

津造幣總廠成立，戶部當局，與外省疆吏，猶斷斷為七錢二

故省文，皆篆書。幕上下左右列滿文四，正中方格之內，曰

分暨一兩之爭。函電往返，相持不下。光緒實錄，端方檔案，

廠平壹兩以至壹錢，各紀其重，皆隸書。四周繞以雲紋。考

及度支部通阜司奏案輯要，均詳載之。當時盈庭宰輔，封疆

大吏，昧於原理，本單主輔之分，實直（值）名直（值）之

滿文左一字，即吉林。右一字讀若鐵希立部庫 Teherebuku， 即平字之意。上為壹字，讀若厄穆 Emu。下為兩讀若煙，

別，茫然無知，其頭腦之腐舊，見識之淺陋，曾三家村之學

譯意即漢文廠平一兩四字也。壹兩二字，與天聰大錢幕文之

究之不若。即希元之鑄上列諸品，猶沿稱重之制，何足責哉。

在右方者同，惟書法少異耳。張叔未已經考釋，茲從之。其

光緒一朝，京外各局所鑄，大小銀幣，大抵紀重，或一兩， 或七錢二分。宣統三年，造幣總廠所鑄，方改為紀直（值） ，

餘各品左右二字皆同。柒錢者，上一字為七字，不知讀法如 何，待考。下一字為錢字，讀若幾哈 Jiha，與滿文天命平錢

曰一圓、五角、二角、一角。民國以遠，不復有紀重者矣。

之下一字，及天聰大錢之右一字相同。半兩者，則曰五錢。

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原刊載於中國泉幣學社《泉幣》第一期 中華民國二十九年（1940 年）七月

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NEWS

Winter 2022 FUN Show in Orlando, FL Proves the Numismatic Market Remains Hot During Year of the Tiger ◎ J. Matthew Brotherton〔USA〕

was a huge success as dealers and collectors were eager to have a great show was the 2021 event was cancelled due to Covid-19 restrictions. The 67th Annual Winter Fun Show took place January 6-9 at the Orange County Convention Center and showed many signs that the numismatic and collectibles markets remains on fire as we go into 2022. The Winter FUN Show is an annual bellwether numismatic show with ▲ The Orange County Convention Center

over 1500 dealers and was attended by over 10,000 collectors over the four-day event. Once again, I set up for the Fun Show with Rick Stelzer and Jerica Rogers, my business partners at Estate Collectibles Group out of Sarasota, Florida, Glen Jorde (Lake Region Coin & Currency of Devil's Lake, ND), Ron Dickenson, a U.S. currency dealer from Abingdon, Virginia, and Mark Kingsley, a bullion dealer from Fargo, North Dakota. Most of the coin and currency dealers at the show for the most part were extremely pleased with the activity of sales and many veteran dealers commented that this was the best show that they had ever had! The

▲ The ribbon cutting ceremony for the Winter 2022 FUN Show

combination of factors such as this being the first Winter FUN Show since the Covid-19 pandemic hit and a strong precious metals market made for a great show. Sales of vintage U.S. gold, silver and type coins, and large size federal paper money were particularly strong. For international coins and currency, our readers will be glad to know that vintage Chinese gold and silver coins as well as vintage Chinese currency remain in huge demand as collectors continuously asked for these items proving that this sector remains very strong.

▲ The Jean Chinese editor Yuan Shuiqing (袁水清), PMG co-founder Rick Stelzer, and J. Matthew Brotherton at 2017 Macau Numismatic Society Annual Expo

Besides the ability to purchase and browse a wide variety of numismatic items, the Winter FUN Show offered grading service appraisals, educational seminars, auctions, collectors meetings, events for young numismatists, scout merit badge programs, and much more. There was a special guest appearance by 2022 Silver Eagle coin engraver, Michael

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It has been a while since our last article,

Gaudioso at the Numismatic Guarantee Company (NGC) booth as he

so it is my hope that all are having a happy

signed items and promoted the 35th anniversary of NGC limited-edition

2022 and a prosperous Year of the Tiger!

American Silver Eagle label. The FUN Show always has an exceptional

I also hope that you and your family are

display of numismatic exhibits and this year was no exception. Highlights

staying healthy and safe as we all continue

included a Morgan Silver Dollar collection displaying many rarities of the

to battle the Covid-19 global pandemic. It is

most collected series produced by the United States Mint, and a collection

my pleasure to report that the 2022 Winter

of rarer U.S. Kennedy Half Dollar error coins. On the paper money

Florida United Numismatists ("FUN") show

side, there were exhibits featuring a selection of National Bank Notes of

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Milwaukee, a collection of Wisconsin and the Western and

collection included various interesting coins and money

Atlantic Railroad Construction notes, and an extensive

referenced by Jesus in his parables and teachings such

U.S. postal and fractional currency collection. The paper

as Judas Iscariot, the Widow's Mite, the Shekel of Tyre,

money of the Western and Atlantic Railroad won the "Best

and other coins related to the time period. In the field

of Show" award for the FUN Show and displayed currency

of international tokens and medals, the top exhibits

produced for that railroad starting in 1833 and continuing

included a collection of Puerto Rican Medals and Military

throughout the latter part of the 19th century. The Western

Decorations from 1855-1909, an exhibit of Armenian

and Atlantic Railroad was chartered and responsible for

Mekhitarist (Roman Catholic monastic order) medals, and

building three major railroad lines in the southern U.S.

a "World in Flight" collection which depicted a selection

state of Georgia and many of the beautiful vignettes of

of tokens and medals depicting the early days of aviation

the currency depicts railroad scenes from the mid-19th

history from 1903-1947.

century.

Overall this year's Winter FUN Show was a huge success

For international coin collectors there were some amazing

and It appears that the numismatic industry is off to a

ancient and world coin exhibits. There was a collection of

record-breaking start in 2022. I want to wish everyone a

coins relating to the Roman Emperor Septimius Severus

Happy Year of the Tiger, and once travel restrictions permit

(193-211 A.D.) and the Roman war against the tribes of

it, I look forward to seeing my good friends, Michael Chou,

Caledonia, a collection of Swiss Cantonal coins from 1795-

Jeffrey Wai, and others at (Champion 11/27/2022 Macau

1845, the Flavian Dynasty of Ancient Rome collection (64-

Auction). Until next time, stay healthy and safe and I wish

96 A.D.), 350 years of Britannia on British coins collection

you all the best in your numismatic pursuits. As always, if

(1673 to the present), and a coin collection linked to the

you ever are in the Sarasota, Florida area be sure to stop

life and times of Jesus. The "Life of Jesus" biblical coin

by and say hello!

▲ Michael Gaudioso

▲ U.S. Silver Eagle Coin

▲ Western and Atlantic Railroad Construction Note

▲ Western and Atlantic Railroad Construction 10 Dollar Banknote

▲ The Biblical Coin Referenced by Jesus Parables "The Widow's Mite"

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▲ U.S. Kennedy Half Dollar

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新聞 NEWS

春

虎年

伊始錢幣市場火熱依舊

大

吉

⸺ 2022年美國佛州冬季錢幣展觀感 ◎ 馬修·布拉澤頓〔美國〕

在 2022 生肖虎年的春天悄然來臨之時，我很高興地告訴大 家，第 67 屆美國佛州冬季錢幣展取得了巨大的成功。上屆 錢幣展由於新冠疫情的限制而被取消，因此幣商和藏家都渴 望能夠在 2022 年伊始有一場精彩的展會。第 67 屆美國佛 州冬季錢幣展於 1 月 6 日至 9 日在奧蘭多國家會展中心舉行。 展會上的許多跡象表明，錢幣和收藏品行情仍然火熱，預示 2022 年市場態勢趨向良好。 一年一度的美國佛州冬季錢幣展是風向標式的錢幣展。在四 ▲ 2022年美國佛州冬季錢幣展開幕剪綵

天的活動中，有 1 500 多家幣商參展，超過 10 000 名藏家 參加。我再次與我在佛州薩拉索塔市的商業夥伴瑞克·斯特 拉爾（Rick Stelzer）和傑瑞卡·羅傑斯（Jerica Rogers），

銀幣和聯邦政府發行的大面額紙幣的銷售尤其強勁。不言而

以及北達科他州湖區硬幣與貨幣公司的格倫·喬德（Glen

喻，由於收藏家不斷地尋求中國機製金銀幣，國際硬幣及貨

Jorde）、佛吉尼亞州阿賓登市的美國貨幣幣商羅恩·迪肯森

幣市場對於這些錢幣仍然需求旺盛，證明該領域發展前景依

（Ron Dickenson）和北達科他州法戈市的金銀幣幣商馬克·金

然看好。

斯利（Mark Kingsley）一起為美國佛州冬季錢幣展做準備。 大多數參加展會的錢商對這次活動都非常滿意，許多資深幣

除了能夠購買和欣賞各種各樣的錢幣外，美國佛州冬季錢

商評論說，這是他們有史以來參加過的最好的一次展會 ! 這

幣展還提供評級服務，召開研討會、收藏家峰會，舉行拍

次錢幣展是自 2019 年新冠大流行以來第一次舉辦的美國佛

賣、青年錢幣藏家相關活動，等等。在 NGC 的展位上，

州冬季錢幣展，參觀的人絡繹不絕，加之貴金屬市場走勢強

2022 年 美 國 鷹 洋 銀 幣 雕 刻 師 邁 克 爾· 高 迪 奧 索（Michael

勁，這些因素綜合在一起，使得展會非常成功。美國機製金

Gaudioso）作為特別嘉賓出席，現場簽名，並對 NGC 美國 鷹洋銀幣 35 周年限量版標籤進行宣傳。每年的美國佛州冬 季錢幣展總會有一個特殊的錢幣展品展示，此次也不例外。 展品亮點包括摩根銀幣收藏，這一收藏囊括了美國鑄幣局生 產的最值得收藏的系列銀幣中的許多珍品，其中較為珍罕的 是錯版美國肯尼迪 50 美分銀幣。在紙幣方面，展出了密爾 沃基美國紙幣收藏中的精品紙幣，該收藏聚焦於威斯康星州 紙幣和美國西部和大西洋鐵路公司的代價券，此外還有眾多 的美國明信片和輔幣收藏等。西部和大西洋鐵路公司的代價 券贏得了美國佛州冬季錢幣展的“最佳展品”稱號。此次展 會上還展示了從 1833 年開始至 19 世紀後期為該鐵路公司

▲ 奧蘭多國家會展中心

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生產的紙鈔。當時，西部和大西洋鐵路公司經特許負責在美

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生活和時代相關的錢幣收藏。在與耶穌生活相關的聖經主題 錢幣收藏中，有各種有趣的錢幣，它們以“加略人猶大”、 “可貴的奉獻”、“推羅古城的財富”等與耶穌的寓言和教 義有關的內容為主題。在國際紀念章領域，最重要的展品包 括 1855-1909 年的波多黎各紀念章和軍功章，亞美尼亞的 梅赫塔修道院（亞美尼亞天主教會的總部）紀念章，以及與 1903-1947 年航空早期歷史有關的“飛行中的世界”系列紀 念章。

▲ 《東亞泉志》中文主編袁水清、PMG創始人瑞克·斯特 拉爾、本文作者馬修·布拉澤頓合影於2017年澳門錢幣學 會年會展覽

總的來說，2022 年的美國佛州冬季錢幣展獲得了巨大的成 功，可以說錢幣行業在 2022 年有了一個突破性的開端。 在 此，我想祝大家虎年快樂。我期待着在旅行限制解除之後可 以在冠軍 2022 年 11 月 27 日舉行的澳門拍賣上再次見到周 邁可、魏亨泰（Jeffrey Wai）和其他一些好友。希望在下次 見面之前，大家都能保持健康，注意安全，在追求精品錢幣 的過程中一切順利。最後我還是想說，如果你來到佛羅里達

▲ 邁克爾·高迪奧

州的薩拉索塔地區，一定要來和我打個招呼。

▲ 美國鷹洋銀幣

▲ 美國西部和大西洋鐵路公司代價券；美國西部和大西洋 鐵路公司10美元紙鈔

▲ 美國肯尼迪50美分銀幣

▲ 以聖經寓言“可貴的奉獻”為主題的錢幣

國南部喬治亞州建造三條主要鐵路線，因此這些紙鈔上的許 多精美圖案都描繪了 19 世紀中期鐵路沿線的景色。 對於國際錢幣收藏家來說，展會上還有一些令人驚歎的古 幣和世界錢幣展品，如與羅馬皇帝塞普蒂米烏斯·塞維魯 （Septimius Severus，公元 193-211 年）和羅馬對喀裏多 尼亞戰爭有關的錢幣收藏，1795-1845 年瑞士各州的錢幣 收藏，古羅馬弗拉維亞王朝的錢幣收藏（公元 64-96 年），

▲ 梅赫塔修道院紀念章

英國不列顛女神錢幣收藏（1673 年至今），以及與耶穌的

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NEWS

PEELING BACK THE LAYERS

The Research Effort Behind The Upcoming Book

South Korean Coins In The Era Of Development ◎ Mark Lovmo 〔USA〕

"Peel an onion. There are lots of layers. " It is a common

with others who can help the researcher gather evidence

saying, and a classic symbol.

and images or point him to new sources of information. All the people who helped me were incredibly generous,

I find it to be a helpful metaphor to describe how my

especially those current and former practitioners within

research developed over time on South Korean coins, an

Korea's currency industry, numismatic businesses, and

obscure topic for which there existed few easily accessible

among its coin hobbyists.

comprehensive studies or documents, either in Korean or any other language. After hitting a brick wall with my initial

The very first of the leads that I hit upon allowed me to

attempts to appeal to Korean authorities for information, I

grab hold of the edges of those first layers and get going

struggled on, attempting to find a single previously written

the process of delaminating the onion.

work, as if groping for the edges of that first layer. The hope was that in peeling back that first layer, I could scale

It should also be mentioned that the 'peeling of the onion'

into ever more layers of evidence hidden beneath.

metaphor also implies that you become more involved in something as you look further into it. In my case, it resulted

If in the review of the existing literature the researcher

in fascinating reading, conversation, and learning beyond

finds at least some previously written works, their footnotes

my original, narrow focus and into various other fields of

or bibliographies can, of course, lead him to other written

study, such as contemporary Korean history, economics,

works, and eventually to that precious documentation that

and industrial processes. These broader explorations

is closest to the original source. Armed with these new

ended up shaping the final form of my book and therefore

leads, he can then discover others, in similar fashion, and

readers of my book will notice that my method exhibits a

even "undiscovered" sources.

moderate integration of these various disciplines. I hope that in doing so I have not totally violated the canons of

However, the leads the numismatic researcher finds are

any of these fields of study, least of all numismatics!

not limited to books and documents, but also take the form of his learning and using the esoteric vocabulary that is

The research for my book began with a few questions.

used within the field. Numismatic literature can contain such a specific vocabulary and usage that is unfamiliar to even highly educated native speakers of the language in

The Questions

which it is used. Korean numismatics terminology is no exception, and because of its specificity, it became a rather

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useful search tool during the research phase of writing

The research project that eventually resulted in my book,

my book. Other equally important leads include contacts

South Korean Coins in the Era of Development , stemmed

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from an initial desire to learn a little more about South

production industry have to say about these coins and how

Korean coins beyond the basic specifications and mintage

they came to be?

information found in the widely available Korean and English-language coin catalogs that I had been using since

In asking these questions, I was hoping to go about

beginning my South Korean coin collection in the early

collecting some basic information on these topics and then

2000s.

simply report on them in the form of English-language webpages at an existing website I operated. The bleak

By 2009, I had become a serious collector of these coins,

results from my initial English and Korean-language

to include high-grade key date business strikes, some

searches certainly gave me no cause to think that writing a

commemoratives, and Bank of Korea mint sets. My South

book would be possible.

Korea collection grew alongside a U.S. Lincoln Cent collection that I had started a few years earlier. These two coin collections provided me with two radically different

Appeals to Authorities

collecting and learning challenges. Other than the wider availability of almost every date in the Lincoln Cent series in most grades below Mint State, one of the biggest

My first web searches resulted in almost no information

differences between my two very different collections was

outside of a handful of decades-old articles and books

the huge amount of information that I could learn about

available from the American Numismatic Association's

Lincoln Cents when compared to South Korean coins.

library that were of limited help. Therefore, I decided to go to the source.

A quick look at numismatic literature sold at large and small U.S. coin shows and online sources revealed many

Being a complete novice to contacting Korean authorities,

in-depth and mutifacted scholarly treatments on United

I wrote several letters and emails to, what I thought were,

States coins. These books and articles detailed a wide

the appropriate contacts at both the Bank of Korea and

variety of information about the artists of the U.S. Mint,

the South Korean Mint (KOMSCO) to inquire about these

the production of its coins, these coins' function in the

topics. I say "several" letters and emails, since a month or

economy, histories of the people and objects appearing

more would pass without a single response, which irked

in their designs, controversies arising from these coins'

me enough to write additional appeals. I was hoping that

circulation, and other interesting anecdotes.

if I barraged them with letters, they would eventually give up and respond. That would not happen, at lest during this early phase of my research.

For my South Korea collection, little of the above information was easily available, and certainly not in any language other than Korean. My research questions

At an impasse, I decided that I would be better served

formed around the basic themes that are often addressed

by refining my Korean-language internet searches

in U.S. coin literature, and ones that I found to be the most

to better target any existing references to relevant

interesting and foundational:

sources of information. For example, I found that using the Korean search term for "designer" ( 도 안 자 /

圖

子 ) in combination with terms related to coins and

Who were the artists responsible for creating the images

案

on South Korean coins? What is the production history of

currency resulted in almost no relevant sources. What

these coins? How did these coins function as currency or

I had not taken into consideration was Koreans' almost

as collectibles and what was the public's reaction to them?

wholesale adoption of English vocabulary in lieu of

What do "insider" sources from the country's currency

perfectly functional words that already existed in their own

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language! When I tried again using the term " 디 자 인 어 "

articles written by the Bank of Korea's Issue Policy Team

(directly transliterated from the English word, "designer")

at the Bank of Korea's website directory. Also buried

in combination with Korean currency search terms, I

within this directory were primary sources in the form of

immediately found reference to several online Korean

the policy resolutions of the Bank of Korea's oversight

media reviews of a book published in 2006 on Korea's

organization, the Monetary Policy Board. The website was

contemporary currency and coins, in addition to a table of

also an official source from which to cite coin specifications

contents from this book. The English title of the book was

and yearly mintages for the commemorative coins.

Korean Commemorative Coins by a former Korean Mint designer and executive, Jo Byeongsu( 曺秉須 / 조병수 ). I

My new internet searches also resulted in finding articles

had finally peeled back the first layer of the onion.

from another former artist who had worked at the Korean Mint's Design Office, Oh Soonhwan( 吳 順 煥 / 오 순 환 ). Mr. Oh's articles were published on the website of South Korea's premier numismatic auction business, Poongsan

The First Layer

Hwadong. These were yet another source of invaluable insights and anecdotes from an insider who was intimately

After receiving a copy of this book in the mail from Korea's

involved in the work on several of the country's early

venerable Kyobo Bookstore, I was a little disappointed.

commemorative coins and the early 1980s redesign

The author, Jo Byeongsu, did not use a single footnote or

project for the circulation coins. Hwadong's website was

endnote to cite his primary sources, nor was there much of

also a helpful tool in finding historical auction results from

a bibliography beyond a handful of seemingly secondary

the sales of key date coins and coin sets during the surge

sources. However, even with my very basic ability in

in numismatic interest in Korea in the 2000s and 2010s.

Korean, a quick read allowed me to realize that this was

These and other small bits of reliable information from

the seminal work in the Korean language on my research

online Korean news sources began adding up. As the

topic. Things began to look up after extensive translation of

sources started to accumulate, I switched gears to writing.

this books' chapters into English further revealed just how much Mr. Jo's book was evidently littered with information from internal Korean Mint documents, some of which he

Getting it Written

referred to by their titles, and some even appeared as charts and images in the book itself.

Sometimes the piling on of evidence merely adds to the As a practitioner within Korea's coin industry, Mr. Jo also

researcher's problems as much as a lack of sources can.

made heavy use of the extremely rare Korean numismatic

I needed to sort it all out and make sense of it. Planning

and coin industry vocabulary. Finding a wide range of this

your writing, as well as the act of writing itself, slows you

unusual Korean terminology in one book was tantamount

down and helps with focusing on what is important as well

to hitting the jackpot, research-wise. This allowed further

as deciding how to present the finished work. I decided

refinement of internet search terms, and the result was not

that separate narratives detailing each coin series in a

necessarily a flood of new information, but a gradual trickle

webpage format decorated with images and data charts

of one highly useful source after another. Mr. Jo's book

would be the most interesting presentation. I thought this

also made reference to certain dates and named various

would also be the best approach in satisfying both those

Korean government rulings and decisions related to coins

readers who only want specifications and mintage data,

that I could also utilize in my searches.

and those who would like the full story behind each coin. I would work on the six circulating coins first, then attempt

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Among the results of these new internet searches were

to tell the story of South Korea's first four (1975-1982)

decades-old, and barely viewed, yet very interesting

commemorative issues.

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As I assembled and posted each of these chapters at my

放 以後 韓國의 貨幣 / 일제 시대 및 해방 이후 한국의 화

website, I also took occasional breaks from writing to go

폐 ). This is the 2004 version of a decennial Bank of Korea

back to the research effort. As I did this writing in addition

publication that is often given titles on variations of the

to being employed full-time, it took a total of five years to

name, Korean Currency. Jon soon also found the 1982

finish writing all the articles, ten in total, plus a chapter on

and 1994 issues of Korean Currency. Over the following

Bank of Korea mint sets. In the following years, I had the

years, Jon proved to be closest thing to a full time research

luck of getting a few articles based on my internet pages

assistant that I ever had, and I was very lucky to have had

published with Coin Week online in 2015 and 2017, in the

his enormous help.

print version of COINage magazine in February 2017, and later with the Journal of East Asian Numismatics (JEAN) in 2019 and 2020.

Rare Korean Mint Sources

After what seemed to be a considerable amount of writing, and especially after I had gotten my hands on the more

Despite the growing numbers of sources that I had to

important documentation on Korean coins and coin

digest (and translate!), the paucity of available official

production (see below), I was starting to believe that I had

Korean Mint sources bothered me, especially when

enough new sources to begin to re-write some of my coin

embarking on writing a book about the coins that this Mint

articles yet again, but this time in the form of chapters for

had produced. I went back through the bibliographies

a book. I knew that writing a book would take a few more

and footnotes of those sources that I had already found.

additional years of research and writing, and in finding a

Another look at a few of these books and documents

publisher, a bit of luck.

revealed two references to Korean Mint publications that I had overlooked. Searches within Korean national library listings revealed that these two sources, Korea Minting

and Security Printing Corporation 40-Year History ( 韓 國造 幣公社四十年史 / 한국조폐공사 40 년사 ) and The

Help Arrives

Monetary History of Korea ( 韓 國 貨 幣 全 史 / 한 국 화 폐 전

During these years that I wrote each of these early

사 ), might possibly be available for viewing at Korean

versions of my research studies and posted them on

libraries. I quickly made inquiries at the Facebook pages of

my own website, I continued the alternating cycles of

two Korean universities for research assistance in getting

writing, researching, and even promoting my website at

copies of these books. I immediately received help from

online forums to alert Korean coin hobbyists of what I had

two very capable Korean students who relayed to me

found. One of my online forum entries elicited the intense

copies of these rather dusty tomes. These two sources

interest of a Canadian fan of Korean coins, Jonathan

proved to be some of the more important sources for

Powelson. and he began sharing with me published and

information on the development of South Korea's coining

unpublished Bank of Korea documents and files that he

facilities, coin blank production, foreign contracts, and

had begun finding buried in Korean government online

especially commemorative coin production.

archive listings. He also compiled lists of final auction results for Korean coins and coin sets at one of South

Another very important source of information was the

Korea's most active online auction sites, Narauction,

Korean newspaper archive. The newspapers were a

as well as pricing from several of the more active retail

source that I wanted to tap into after finding very little

businesses in the country. The most helpful of the

about South Korea's circulation coins in official sources. I

documents that Jon shared with me was a very informative

thought that Korea's daily newspapers had certainly

official Bank of Korea source, Korean Currency after the

reported on the issue of the South Korea's new coins

Japanese Imperial and Liberation Eras ( 日 帝 時 代 및 解

in the 1950s and 1960s. After a failed attempt to find

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newspaper articles about the issue and circulation of

task of finding a publisher before making the final decision

South Korea's coins on reel after reel of microfilm at the

to publish my work in the form of a book. By chance, I

National Library of Korea during a visit to Seoul in 2014,

got into a brief online conversation with Coin Week editor

I found found reference to the Naver News Library. It was

Charles Morgan in late 2018. Mr. Morgan suggested that I

in an interesting blog post that used Korean newspaper

contact the Publisher and Editor-in-Chief of JEAN , Michael

images from this source to tell the story of South Korea's

Chou, about my proposed book. Charles told me that Mr.

1962 currency reform. The Naver News Library had a very

Chou's publishing company produces important books on

easy-to-use interface and contained images of almost

East Asian coins, and issues the most active journal that

every daily issue from the major newspapers in the capital

one can find on the subject. Fortune had smiled on my

city, Seoul, from the 1930s to the year 2000. One of the

efforts thus far, but the luckiest of breaks was when I had

tools at this site turns the images of any of the hundreds

the pleasure to speak to Michael Chou about my writing

of thousand of newspaper articles into readable Korean

over the phone. In our conversation, he indicated a great

text, while also providing hangeul translations of the often-

deal of enthusiasm about the possibility of working with

used Chinese character text. After figuring out the best

me on a book project with iAsure. With Michael's positive

approach to search for articles thereby using its "keyword"

indication of getting my book into print, I was motivated to

function-the Naver News Library provided me with more

finish the research for the book with a final visit to Korea.

than enough information and interesting facts from past

I believed I should try to get into contact with at least one

newspaper articles that covered the circulating coins in

current or former practitioner in Korea's coin industry and

the key decades of the 20th century that were the focus

possibly conduct an interview.

of my book. This subscription-free archive helped me to slowly uncover details that had never been written about

Soon after, another bit of good luck came my way when

South Korean coins in any previous comprehensive work

Oh Soonhwan agreed to be interviewed for the book. Oh

on the subject. These news articles also provided me

Soonhwan is a former Korean Mint currency designer

with more depth and range of things to write about for my

and design office director who, in his retirement, is

commemorative coin chapters as well.

publishing interesting numismatic articles with Poongsan Hwadong online. It all began when I noticed that Mr. Oh

At this point, I must stand witness to the power and

had uploaded his résumé in one of his articles. Among

usefulness of an open and free internet, which cannot

his many listed accomplishments was his incredible gold

be understated in regards to research. Although I made

medal win at an important art festival in Italy. When I

three research visits to Korea in these years, I conducted

looked into this, I found reference to the medallic artworks

a good amount of the research for my book from my

that Korean Mint engraving artists had submitted to art

home in the United States. I must also acknowledge that

journals in Italy in the 1980s and 1990s. Many of these

South Korea's bureaucracies and news media produce

same artists' names were also listed in the official Korean

prodigious amounts of print information that, when made

Mint literature as the artists responsible for producing

openly available, are a great boon to the researcher, and

South Korea's coins. One email after another led me to a

are a testament to an incredibly literate Korean society.

Franciscan monk in Ravenna, Italy. He helpfully tracked down images of these artists' medallic works, one of which was an image of Mr. Oh's award-winning art medal. Through a convoluted set of connections on social media,

Some Lucky Breaks

20

I was able to message Oh Soonhwan about a possible interview. Mr. Oh immediately agreed, and he encouraged

Luck plays an important role in most endeavors, and mine

me to visit him in the Korean city of Daejeon, the location

was no exception. As the revisions of my coin articles were

of the Currency Museum of Korea and the Headquarters

taking full form, I decided to embark upon the daunting

of the South Korean Mint (KOMSCO).

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The resulting interviews that I conducted with Oh

Now that I had these new sources and images to utilize,

Soonhwan in late June 2019 at the Currency Museum

I went about revising and incorporating these into the

were not only hugely enlightening for my research

mostly-finished chapters for the book. After that, the only

purposes, but had produced the section of the book that

thing to do was to write the introductory chapters and

is my personal favorite. This talk with Oh Soonhwan is

consider the style of my writing when editing. As for the

the only instance that I am aware of that a numismatic

style of my writing, I try to remember the advice that fellow

writer had ever gotten an interview with a member of

Minnesota author F. Scott Fitzgerald gave to his daughter:

the Korean Mint's design and engraving staff, much less one as prolific, accomplished, and had risen as high

"A good style simply doesn't form unless you absorb half a

in the leadership at the Mint as Oh Soonhwan. In our

dozen top-flight authors every year. Or rather it forms but

interview, Mr. Oh introduced me to Jeon Young-yul( 全 永

instead of being a subconscious amalgam of all that you

律 / 전 영 율 ), the current general manager of the Design

have admired, it is simply a reflection of the last writer you

Research Center, which is located right next door to the

have read, a watered-down journalese."

museum. Mr. Jeon treated me to an incredible tour of the Korean Mint's design and engraving rooms, and before we

My own style seems to find me trying to fit in every

left, gave me two incredible official Mint documents, the

fact, figure, and anecdote into my writing, down to the

highly informative and more up-to-date Korea Minting and

detail of the toenail, although I always end up ruthlessly

Security Printing Corporation 50-Year History ( 한국조 폐

editing and condensing, which I ended up doing quite a

공사 50 년사 ) from 2001, and the glossy pictorial, 60 Year

bit for South Korean Coins in the Era of Development . A

History of KOMSCO, published in 2011.

few of my favorite authors also have writing styles that try to "get everything in". However, I think I mostly met

As I was visiting Korea that Summer, Michael Chou

my own personal standards for balancing "information

of JEAN encouraged me to join him at the offices of

overload" and "just telling the story" in the writing of

South Korea's premier numismatic business, Poongsan

this book. Another desire was to have at least some of

Hwadong, and meet with Hwadong President, J.C. Lee,

my prose written to poetic standards so that the reader

and Hwadong's Deputy Head, Daiseoc Cheon. I appealed

can somewhat enjoy the language of this non-fiction,

to Hwadong for permission to use Hwadong's high quality

informational text. Of course, previous authors that I enjoy

photography of coins from the company's extensive

reading have influenced my writing style, but as Fitzgerald

photo archive in my book. President Lee not only granted

cautioned, I did not want to only reflect the style of the last

permission for the use of the company's photos, but

author that I read, but indeed to create that amalgam of all

treated us with incredible hospitality and encouraged me

that I have admired, or better yet, to not worry too much it

to make the best use of these photos for the book. During

and just write interestingly enough to engage the reader,

this meeting, I sat in awe (and took notes) as two of the

but still tell the whole story. I hope readers find my book to

most important figures in East Asian numismatics, J.C. Lee

be both entertaining and informative.

and Michael Chou, discussed in earnest the past, present, Looking back on the process of peeling back the layers of

and future of the numismatics business.

discovery and the hard work of writing this book, I can say I was very lucky indeed to have these opportunities come

in all honesty it was a labor of love.

my way.

Finishing Up

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Author Mark Lovmo (center) with Oh Soonhwan and Jeon Yeong-yul at the Korean Mint's Design Office.

The Naver News Library is a subscription-free source had thousands of newspaper articles on Korean coins that I had to review for relevant information for my book.

Engraver Oh Soonhwan told me that an occupational hazard for engraving artists comes from degraded eyesight after years of working on snow-white gypsum plaster models.

I was lucky enough to convince Oh Soon-hwan, the Korean Mint artist who engraved the crane image on the 500-Won coin, to sign his name. He signed it with artistic flourish: "Hwan, Oh Soonhwan."

During my last visit to Korea, I was also gifted this two-note sheet of the 1,000-Won, signed by its engraving artist at the Korean Mint, Shin In-cheol.

Michael Chou and I meeting with President J.C. Lee and Daiseoc Cheon of Hwadong.

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新聞 NEWS

揭

開 《發展時代的韓國錢幣》

面

紗

層

層 即將出版

◎ 馬克·洛夫莫〔美國〕

正如一句頗具象徵意義的諺語所說：“剝開一個洋蔥， 你

我找到的第一條線索使我能夠抓住這些第一層的邊緣，並開

會看到有很多層。”

始了揭開層層面紗的過程。

我發現這是一個很形象的比喻，可以描述我對韓國錢幣的研

還應該提到的是，“剝洋蔥 ”的比喻也意味着，隨着你對

究是如何隨著時間的推移而發生變化的。韓國錢幣是一個晦

某件事情的進一步研究，你會變得更加投入。在我的例子中，

澀難懂的研究主題⸺ 無論是韓文還是其他語言，都不易獲

它使我沉迷於閱讀、與有思想的人對話和學習更多的東西，

得的全面研究成果或文獻。 在我最初試圖向韓國官方尋求

超越了我最初的、狹隘的範圍，進入了各種其他研究領域，

信息碰壁後，仍一直在努力，試圖找到一本與之相關的著作，

如當代韓國歷史、經濟和工業流程。這些更廣泛的探索最終

這就像在洋蔥外面摸索第一層皮的邊緣。我希望在剝開這第

形成了本書的最終形式，因此閱讀本書的讀者會注意到，我

一層的同時，可以深入下面的更多層，找到更多隱藏的證據。

的方法表現出對這些不同學科的適度整合。我希望在這樣做 的時候，我沒有完全違反任何這些研究領域的準則，更不用

研究者通過在對現有韓國錢幣文獻的查閱，至少可以發現一

說錢幣學了！

些以前完成的相關作品，從而通過它們的註腳或參考書目 找到其他相關作品，並最終找到最接近原始資料的珍貴文

我的書的研究是從幾個問題開始的。

獻。 有了這些新的線索，就可以以類似的方式發現其他的， 甚至是“未被發現的”資料來源。

研究問題

然而，錢幣研究者發現的線索並不限於書籍和文件，還包括 他學習和使用該領域內的深奧辭彙的形式。 錢幣學文獻可 能包含這樣一種特殊的辭彙和用法，即使是受過高等教育的

我的研究項目最終形成了《發展時代的韓國錢幣》一書，該

母語者也不熟悉其使用的語言。韓國錢幣學術語也不例外，

項目最初源於一個願望，即除了在廣泛提供的韓國和英國錢

由於其特殊性，在我寫書的研究階段，它成為相當有用的搜

幣目錄中發現的基本規格和年份信息外，我還想瞭解更多關

索工具。其他同樣重要的線索包括通過與其他人聯繫，幫助

於韓國錢幣的信息，我在 2000 年代初開始收集韓國錢幣時

研究者收集證據和圖像，或者為他指出新的信息來源。幫助

一直在使用這些目錄。

我的那些人都非常慷慨，尤其是那些在韓國的錢幣行業、錢 到 2009 年，我已經成為這些錢幣的收藏家，包括一些紀念

幣企業以及現在和從前從事錢幣收藏和研究的愛好者。

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幣和韓國央行的鑄幣套幣。 我的韓國錢幣收藏品數量與我

長的時間過去了，沒有任何回應，這讓我很惱火，不得不寫

幾年前開始收藏的美國林肯輔幣數目一起增長。這兩項錢幣

更多的信。我希望，如果我用信件轟炸他們，他們最終會作

收藏為我在錢幣收藏和研究方面提供了兩種截然不同的挑

出回應。 當然這不會發生，至少在我研究的這個早期階段

戰。 除了林肯輔幣系列中幾乎每一個日期的錢幣都能在大

不會。

多數鑄幣狀態以下的檔次中找到外，我這兩個截然不同的收 藏之間最大的區別之一，是與韓國錢幣相比，我可以瞭解到

情況陷入僵局後，我決定改進我的韓語互聯網搜索，以更好

大量關於林肯輔幣的信息。

地鎖定任何現有的相關信息來源。 例如，我發現使用韓語 搜索 “設計師”（도안자 / 圖案子）與錢幣和貨幣相結合

通過快速瀏覽在美國大大小小的錢幣展上出售的錢幣文獻

的術語，幾乎沒有相關來源。我沒有考慮到的是，韓國人

和網上資料，我發現有許多關於美國錢幣的深入而又有說服

幾乎全盤採用英語辭彙來代替他們自己語言中已經存在的

力的學術性內容。這些書籍和文章詳細介紹了美國鑄幣廠的

完美的功能性辭彙！當我再次嘗試使用韓文“디자인어”一

藝術家、錢幣的生產、錢幣在經濟中的功能，出現在其設計

詞 ( 直接從英文單詞 “designer”音譯而來 ) 與韓國貨幣搜

中的人物的歷史，這些錢幣流通中產生的爭議以及其他有趣

索詞相結合時，我立即發現了幾個線上韓國媒體對 2006 年

的軼事等各種信息。

出版的一本關於韓國當代貨幣和錢幣的書的評論，以及該 書的目錄。這本書的英文標題是“Korean Commemorative

在我對於韓國錢幣的收藏上，上述信息幾乎不容易獲得，當

Coins”（《韓國紀念幣》），作者是韓國造幣廠之前的一

然也沒有韓語以外的任何語言。我研究的問題圍繞着美國錢

位設計師⸺ 曺（同曹，曹的異體字）秉須（조병수）。

幣文獻中經常涉及的基本主題形成，也是我認為最有趣和最

我終於剝開了面紗的第一層。

基礎的主題。

負責創作韓國錢幣上的圖像的藝術家是誰？ 這些錢幣的生

第一層

產歷史是什麼？ 這些錢幣作為貨幣或收藏品的功能是什 麼？公眾對它們的反應是什麼？ 來自該國貨幣生產行業的

在收到韓國古老的敎（通教）保文庫書店寄來的這本書後，

“內部人士”對這些錢幣以及它們是如何形成的有什麼看法？

我有點失望。作者曺秉須沒有用一個註腳或尾注來引用他的 在提出這些問題時，我希望能夠收集一些關於這些主題的基

主要來源，除了少數幾個看似次要的來源外，也沒有什麼參

本信息，然後在我經營的一個現有網站上以英文網頁的形式

考書目。然而，即使我的韓語能力非常有限，但通過快速

簡單地報告這些信息。從我最初的英語和韓語搜索中得到的

閱讀，我意識到這是關於我的研究主題的韓語開創性著作。

僅有的一點結果當然讓我沒有理由認為寫一本書是可能的。

在將這本書的章節廣泛地翻譯成英文之後，事情開始有了起 色，因為曺秉須的書顯露着來自韓國鑄幣局內部檔的信息， 其中一些他甚至多次提到了錢幣的名字，有些甚至以圖表和 圖片的形式出現在書中。

向權威機構尋求幫助

作為韓國錢幣行業的從業者，曺秉須還大量使用了極為罕見

我最初的網路搜索結果是，除了美國錢幣協會圖書館提供的

的韓國錢幣和錢幣行業的辭彙。在一本書中找到大量這種不

幾篇幾十年前的文章和書籍外，幾乎沒有任何信息，而這些

尋常的韓國術語，從研究角度來說，無異於中了大獎。這使

文章和書籍對我的幫助有限。因此，我決定從源頭入手。

得互聯網搜索術語得到了進一步的完善，其結果不一定是新 信息的氾濫，而是一個又一個非常有用的信息來源的逐漸湧

作為一個韓國錢幣領域的初學者，我給韓國央行和韓國造

現。曺秉須的書還提到了某些日期，並列出了與錢幣有關的

幣廠的聯繫人寫了幾封信和電子郵件，詢問這些問題的答

韓國政府的各種決定，我也可以加以利用。

案。 我說的是“幾封”信件和電子郵件，因為一個月或更

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在這些新的互聯網搜索結果中，有幾十年前的，幾乎沒有人

DEPARTMENTS

亞泉志》上發表。

看過的，但由韓國央行問題政策小組在韓國央行的網站目錄 中寫得非常有趣的文章。在這個目錄中還埋藏著韓國央行的

在似乎是相當多的寫作之後，特別是在我得到了關於韓國錢

監督組織⸺ 貨幣政策委員會的政策決議形式的主要資料。

幣和錢幣生產的更重要的文獻之後（見下文），我開始相信

該網站也是一個官方來源，可以引用紀念幣的規格和其每年

我有足夠的新來源，開始再次重寫我的一些錢幣文章，但這

的鑄造量。

次是以一本書的章節形式寫。我知道寫一本書還需要幾年的 研究和寫作，而且在尋找出版商時還需要一點運氣。

我在互聯網上的新搜索還發現了另一位曾在韓國造幣廠設 計室工作過的藝術家吳順煥 ( 오순환 ) 的文章。吳先生是一 位曾密切參與國家早期紀念幣和 20 世紀 80 年代早期流通

幫助的到來

錢幣重新設計項目的內部人士。他的文章發表在韓國首屈一 指的錢幣拍賣公司華東豐山集團（Poongsan Hwadong）的 網站上。這些文章是另一個寶貴的見解和軼事的來源。華東

在我寫下這些早期錢幣版本的研究報告並將其發佈在自己

豐山集團的網站也是一個有用的工具，可以找到 2000 年與

的網站上的這些年裏，我繼續交替進行寫作、研究，甚至在

2010 年人們對韓國錢幣興趣激增期間關鍵日期錢幣和錢幣

線上論壇上宣傳我的網站，將我的發現告訴韓國錢幣愛好

套裝銷售的歷史拍賣結果。 這些和其他來自韓國線上新聞

者。我的一個網上論壇條目引起了一位加拿大的韓國錢幣愛

來源的可靠信息的小片段開始不斷增加。 隨着資料來源開

好者喬納森·鮑威爾森（Jonathan Powelson）的興趣。喬

始積累，我轉而開始寫作。

納森擁有相當強的互聯網搜索能力，他開始與我分享他發 現的埋藏在韓國政府線上檔案列表中的已出版和未出版的 韓國央行檔和檔案。他還彙編了韓國最活躍的線上拍賣網站 之一 Narauction 的韓國錢幣和錢幣套裝的最終拍賣結果清

撰寫文章

單，以及該國幾個更活躍的零售企業的定價。在喬納森與我 分享的檔中，最有用的是韓國央行的一份非常翔實的官方資

有時，證據的堆積只是增加了研究者的問題，就像缺乏來源

料⸺ 《日本帝國時期和解放時期的韓國貨幣》（日帝時代

一樣。我需要把這一切整理出來，使之合理化。規劃你的寫

및 解放 以後 韓國 貨幣 / 일제 시대 및 해방 이후 한국의

作，以及寫作行為本身，可以讓你放慢腳步，幫助你專注於

화폐 ）。 這是韓國央行 10 年一次的出版物的 2004 年版本，

重要的事情，以及決定如何呈現完成的作品。我決定以網頁

該出版物經常被冠以不同的名稱，即韓國貨幣。喬納森很快

的形式單獨敘述每個錢幣系列的細節，並配以圖片和數據圖

也找到了 1982 年和 1994 年的《韓國貨幣》。 在接下來的

表，那將是最有趣的表現形式。我認為這也是滿足那些只想

幾年裏，事實證明，喬納森是我曾經擁有的最接近全職研究

要規格和年份數據的讀者，以及那些想要瞭解每枚錢幣背後

助理的人，我很幸運能得到他的大力幫助。

完整故事的讀者的最佳方法。我將首先研究六種流通錢幣， 然後嘗試講述韓國前四種（1975-1982 年）紀念幣的故事。

罕見的韓國造幣廠資料

當我把這些章節集合起來併發布在我的網站上時，我也偶爾 從寫作中休息一下，回到研究工作中去。由於我在全職工作 之餘還進行了這項寫作，所以總共花了 5 年時間才完成了

儘管我需要消化和翻譯的資料越來越多，但韓國造幣廠官方

全部章節的寫作，總共 10 篇，外加一個關於韓國央行鑄幣

資料的匱乏讓我感到困擾，特別是在著手寫一本關於該造幣

套幣的章節。在接下來的幾年裏，我很幸運地於 2015 年和

廠生產的錢幣的書時，我又翻閱了那些我已經找到的資料來

2017 年在《錢幣週刊》（Coin Week）網上發表了幾篇基

源的書目和註腳。再看看其中的一些書籍和文件，發現有兩

於我的互聯網網頁的文章，2017 年 2 月在《錢幣》 （COINage）

處提到了韓國造幣廠的出版物，而我卻忽略了這一點。在韓

雜誌的印刷版上發表，後來又在 2019 年和 2020 年的《東

國國家圖書館列表內搜索發現這兩份資料。《韓國造幣公社

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四十年史》/ 한국조폐공사 40 년사和《韓國貨幣全史》/ 한

我的錢幣文章的修訂工作全面展開時，我決定開始尋找一個

국화폐전사）。這兩份資料可能可以在韓國的圖書館看到。

出版商，然後再最終決定將我的作品以書的形式出版。 一

我很快就在兩所韓國大學的臉書頁面上進行了查詢，希望能

個偶然的機會，我在 2018 年底與《錢幣週刊》的編輯查爾斯·摩

得到這些書的幫助。我立即得到了兩個非常有能力的韓國學

根（Charles Morgan）進行了一次簡短的線上對話。摩根

生的幫助，他們向我轉達了這些塵封的書的副本。這兩個來

先生建議我與《東亞泉志》的發行人兼總編周邁可聯繫，討

源被證明是關於韓國錢幣設施發展、錢幣坯料生產、外國合

論我提議的書。查爾斯告訴我，周先生的拍賣公司出版了關

同，特別是紀念幣生產的一些更重要的信息來源。

於東亞錢幣的重要書籍，併發行了人們可以找到的關於該主 題的最活躍的期刊。迄今為止，幸運之神對我的努力報以微

另一個非常重要的信息來源是韓國的報紙檔案。在官方資料

笑，但最幸運的是，我有幸在電話中與周邁可談起我的寫作。

中很少發現關於韓國流通錢幣的信息，報紙是我想挖掘的一

在我們的談話中，他對與我在愛秀（iAsure）集團的圖書項

個來源。我認為韓國的日報在 20 世紀 50 年代和 60 年代肯

目上合作的可能性表示了極大的熱情。由於周邁可積極表示

定報道過韓國的新錢幣發行問題。在 2014 年訪問首爾期間，

要將我的書付梓，我有動力完成對該書的研究，對韓國進行

我試圖在韓國國家圖書館的一卷又一卷的微縮膠片上找到

了最後一次訪問。我相信我應該嘗試與至少一個韓國錢幣行

有關韓國錢幣發行和流通的報紙文章，但失敗了，我發現了

業的現任或前任從業者取得聯繫，並可能進行一次採訪。

Naver 新聞圖書館的參考資料。 那是在一篇有趣的博文中， 該博文使用來自這一來源的韓國報紙圖片來講述韓國 1962

不久之後，另一個好運氣來到了我身邊，吳順煥同意接受本

年貨幣改革的故事。Naver 新聞庫有一個非常容易使用的介

書的採訪。 吳順煥是前韓國造幣廠的貨幣設計師和設計室

面，包含了從 20 世紀 30 年代到 2000 年首都首爾的主要報

主任，他在退休後與華東豐山公司在網上發表有趣的錢幣文

紙的幾乎每一天的圖片。這個網站的一個工具將幾十萬篇報

章。 這一切都始於我注意到吳先生在他的一篇文章中上傳

紙文章中的任何一篇的圖像變成可讀的韓文，同時還提供經

了他的履歷。在他列出的眾多成就中，有一項是他在意大利

常使用的漢字文本的韓文翻譯。在找到使用其 “關鍵字”

的一個重要藝術節上贏得金牌。當我研究這個問題時，我發

功能搜索文章這一最佳方法後，Naver 新聞庫為我提供了足

現提到了韓國造幣廠雕刻藝術家在 20 世紀 80 年代和 90 年

夠多的信息和有趣的事實，這些過去的報紙文章涵蓋了 20

代向意大利的藝術期刊提交的獎牌藝術品。這些藝術家中的

世紀關鍵幾十年的流通錢幣，而這些正是我這本書的重點。

許多人的名字也被列入韓國造幣廠的官方文獻中，作為負責

這個免訂閱的檔案庫幫助我慢慢發現了以前任何關於韓國

制作韓國錢幣的藝術家。一封又一封的電子郵件讓我找到了

錢幣的綜合著作中從未寫過的細節。這些新聞報道也為我的

意大利拉文納的一位方濟各會修士。他幫助我找到了這些藝

紀念幣章節內容提供了更多的深度和範圍，讓我也能寫出更

術家的獎牌作品的圖片，其中有一張是吳先生獲獎的藝術獎

多的東西。

牌的圖片。 通過社交媒體上一系列錯綜複雜的聯繫，我給 吳順煥發出了採訪他的請求。吳先生立即同意了，他鼓勵我

在這一點上，我必須擁有一個開放和自由的互聯網，這對研

去韓國城市大田拜訪他，那裏是韓國錢幣博物館和韓國造幣

究來說是不可低估的。雖然我在這些年裏對韓國進行了三次

廠（KOMSCO）總部所在地。

研究訪問，但我在美國的家裏為我的書進行了大量的研究。 我還必須承認，韓國的官僚機構和新聞媒體發出了大量的信

2019 年 6 月底，我在韓國錢幣博物館對吳順煥進行了採訪，

息，這些信息一旦公開，對研究者來說是一個巨大的福音，

結果不僅對我的研究目的有很大的啟發，而且還產生了本書

也是韓國社會文化程度極高的證明。

中我個人最喜歡的部分。與吳順煥的這次談話是我所知道的 唯一一次錢幣作家獲得對韓國造幣廠設計和雕刻人員的採 訪，更不用說像吳順煥這樣多產、有成就、在造幣廠領導層 中地位如此高的人。在我們的訪談中，吳先生向我介紹了

一些幸運的突破

位於博物館隔壁的設計研究中心的現任總經理全永律（전영 율）。全先生請我參觀了韓國造幣廠的設計和雕刻室，並在 我們離開之前，給了我兩份造幣廠官方檔，即 2001 年出版

運氣在大多數努力中都發揮着重要作用，我也不例外。 當

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的內容豐富、更新的《韓國造幣公社 50 年曆史》（한국조

前我喜歡讀的作家影響了我的寫作風格，但正如菲茨傑拉德

폐공사 50 년사），以及 2011 年出版的《KOMSCO 的 60

所告誡的，我不想在作品中只反映出我讀的最後一位作家的

年曆史》。

風格，而是確實創造出我所欣賞的所有作品的混合體，或者 更好的是，不要擔心太多，只需寫得足夠有趣，吸引讀者，

那年夏天，我正在訪問韓國，《東亞泉志》總編周邁可鼓勵

但仍要講述整個故事。我希望讀者能發現我的書既有娛樂性

我和他一起去韓國首屈一指的錢幣企業⸺ 華東錢幣公司

又有信息性。

的辦公室，並與華東錢幣公司的總裁 J.C. Lee 和華東錢幣 公司的副總 Daiseoc Cheon 會面。我向華東公司呼籲，允

回顧揭開層層面紗的過程和寫這本書的艱苦工作，我可以坦

許我在我的書中使用華東公司大量照片檔案中的高質量錢

率地說這是一種因為熱愛而做的努力。

幣照片。李總不僅同意使用他們公司的照片，而且熱情的款 待我們，並鼓勵我充分地利用這些照片。在這次會議上，我 敬畏地坐在那裏並做了筆記，因為東亞錢幣學界非常重要的 兩位人物，J.C. Lee 和周邁可，認真地討論了錢幣學事業的 過去、現在和未來。

我確實非常幸運，有這些機會來到我身邊。

完工 現在我有了這些新的資料和圖片可以利用，我就去修改，並 把這些內容納入到書中基本完成的章節中。之後，唯一要做

作者馬克·洛夫莫（中間）與吳順煥（左）和全永律（

的就是寫出介紹性的章節，並在編輯時考慮我的寫作風格。

右）在韓國造幣局的設計辦公室

至於我的寫作風格，我試圖記住明尼蘇達州的作家斯科特·菲 茨傑拉德（F. Scott Fitzgerald）給他女兒的建議。 “除非你每年吸收十幾個頂級作家的寫作風格，否則根本無 法形成好的風格。或者更確切地說，它不是你所崇拜的一切 寫作風格在潛意識裏的混合體，它只是你所讀過的上一個作 家的反映，一種淡化了的新聞用語。”

我自己的風格似乎是試圖把每一個事實、數字和軼事都納入 我的寫作中，儘管我最後總是無情地編輯和濃縮，我最後為 《發展時代的韓國錢幣》（South Korean Coins in the Era of Development）做了相當多的工作。 我喜歡的幾個作者 的寫作風格也是試圖“把所有東西都寫進去”。然而，我認 為在這本書的寫作中，我在平衡“信息超載”和 “只講故 事 ”方面基本上達到了我個人的標準。 另一個願望是讓我 的散文至少有一部分寫得符合詩意的標準，這樣讀者就能在

Naver新聞庫是一個免訂閱的來源，有成千上萬的關於韓國

一定程度上享受這種非虛構的信息性文本的語言。當然，以

錢幣的報紙文章，我可以從上面為我的書查閱相關信息

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雕刻師吳順煥告訴我，雕刻藝術家會因為在雪白的石膏模

我很幸運地說服了吳順英在500元幣上簽名，他瀟灑地簽

型上工作多年後視力下降

了字

在我上次訪問韓國期間，我還得到了這張1 000元的兩張紙

周邁可（左1）和我與華東公司的J.C. Lee總裁（左3）和

幣，上面有韓國造幣廠的雕刻藝術家申仁哲（Shin In-cheol）

Daiseoc Cheon會面

的簽名

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NEWS

The February 2022 Long Beach Show:

A Report ◎ Ron Guth〔USA〕

Los Angeles County kept their mask requirements in

value of their inventory, a drop in the price of gold puts

place during the show, even though California dropped

a damper on the normal enthusiasm for the show. At the

their mandates on Tuesday, February 15th – setup day for

February 2022 Long Beach Expo, the curse was broken,

the Expo. This meant that anyone visiting the show was

as gold rose before and during the show, creating much

required to show proof of vaccination or a recent, negative

more enthusiasm and a willingness to do business.

COVID test in order to gain admittance to the show. During the show, Expo personnel made sure that everyone

Another unspoken impact on the show was the lack of

was wearing their mask properly. These restrictions kept

a major coin auction. Heritage decided to hold its Long

some dealers from attending the show, but only a few

Beach Expo sale after the show – not in California but in

tables were empty throughout the show. Despite the

Dallas. This is a major departure from previous shows,

mask mandate, public attendance was high. On Thursday

where convention auctions have traditionally been both

morning, the first day for the public to attend, a long line

a major draw and a distraction from the shows, but this

formed of people waiting to get into the show.

appears to be a new business model as the auction business shifts online. The net result seems to be that the

This was the second time that the Long Beach Expo was

money spent by show attendees stays in the show itself,

held in Hall C at the Long Beach Convention Center.

resulting in brisker trading. The good old days of auction

Despite everyone's normal resistance to change, the new

rooms filled with buyers seems to be coming to an end.

hall seems to have caught on. The loading dock is larger and more accessible, the hall is sufficiently large, parking

Coin shows remain important events for several reasons.

is easy (though expensive at $15 per day), and the layout

One, visiting a major coin show is an opportunity to see

seems more open and more functional than in the old hall.

the inventories of hundreds of coin dealers at once. Two, people seem more likely to purchase a coin if they can

Business was brisk during the show, from setup through

actually see it and hold it in their hand. Three, face-to-face

Saturday (which is typically rather slow). Chinese coins

connections are extremely important in the coin business

seemed to be the most-requested items, followed by

for both dealers and collectors. Four, coin shows expose

Russian coins, Mexican 8 Reales, British Trade Dollars,

collectors to potentially new areas of collecting that they

and even Latin and Central American coins. Unfortunately,

might not otherwise have considered. Five, for people who

few of these coins were available on the floor.

love coins, conventions are a lot of fun.

In the past, the Long Beach Expo has suffered from what

Overall, the February 2022 Long Beach Expo gets an A+

is known as the "Long Beach Curse", which meant that the

rating from this author. If this show was any indication,

price of gold would drop just before or during the show.

2022 is going to be a great year for the coin business.

Because many dealers derive their income from selling bullion-related coins, or their wealth is dependent on the

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新聞 NEWS

2022年2月長灘錢幣展觀感 ◎ 古富〔美國〕 2022 年 2 月，加州環球收藏者公司（Collectors Universe）

黃金價格的下跌會影響人們對展會的熱情。但是在此屆長灘

主辦了自因新冠疫情以來的第二屆長灘錢幣展，展會取得了

錢幣展會上，這個魔咒被打破了，因為黃金的價格在展會前

巨大的成功。經銷商和公眾在很長一段時間裏只能參加線上

和展會期間都在上漲，人們也變得更加熱情，購買意願更為

展會，大家似乎都非常渴望參加線下展會。像長灘錢幣展這

強烈。

樣的錢幣展仍然是經銷商尋找錢幣的重要來源，也是收藏家 另一個對展會不言而喻的影響是缺乏大型錢幣拍賣會。海瑞

的絕佳購買機會。

得拍賣公司（Heritage Auction，即 HA）決定在展會之後於

▲ 加州環球收藏者公司 Logo

儘管加州在錢幣展開

達拉斯舉行長灘錢幣展拍賣會，而不是在加州。這與以往的

幕 當 天（2 月 15 日，

展會大相徑庭。在以往的展會上，拍賣會既是一個主要的亮

週 二） 取 消 了 他 們 強

點，也是一個吸引人們注意力的地方。但隨著拍賣業務轉移

制 佩 戴 口 罩 的 要 求，

到了網上，這似乎形成了一個新的商業模式。最終的結果似

但洛杉磯當地仍然要

乎是，展會參與者所花的錢留在了展會本身，使得交易更加

求 佩 戴 口 罩。 這 意 味

活躍，而拍賣現場擠滿買家的好日子似乎就要結束了。

着任何參加展會的人 都需要出示疫苗接種

錢幣展仍然是業內非常重要的活動，原因如下。 首先，參

證明或最近的新冠陰性證明，才能進入展會。在展會期間，

觀大型錢幣展是一次可以同時看到數百個錢幣商存貨的好

工作人員會確保每個人都正確佩戴口罩。這些限制使一些經

機會。 第二，如果人們能夠真正看到並把喜歡的錢幣拿在

銷商無法參加展會，但整個展會期間只有少數幾張桌子是空

手裏感受一下，那麼他們似乎更有可能購買自己喜歡的錢

的。儘管有佩戴口罩的要求，但是公眾的出席率還是很高的。

幣。 第三，面對面的交流對經銷商和收藏家來說都是非常

週四上午，公眾參展的第一天，等待進入展會的人就已經排

重要的。第四，錢幣展讓收藏者接觸到他們可能沒有考慮過

起了長隊。

的潛在的新的收藏領域。第五，對於熱愛錢幣的人來說，參 加展覽是非常有趣的一件事。

這是長灘錢幣展第二次在長灘會議中心的 C 廳舉行了。儘 管每個人都對展廳位置的變化有些不習慣，但新的大廳很快

總的來說，我認為這次 2022 年 2 月的長灘錢幣展可以得到

受到了大家的喜愛。新展廳裏可以放東西的地方變得更大，

A+ 的評級。這表明，2022 年將是錢幣界的一個輝煌的年份。

更方便，大廳本身也足夠大，停車也很方便（雖然每天 15 美元的價格略顯昂貴），而且佈局似乎比舊大廳更開放，更 實用。

從展會開始到週六，生意都很紅火。中國錢幣似乎是人們需 求量最大的錢幣，其次是俄羅斯錢幣、1793 年墨西哥 8 雷 亞爾銀幣、英國貿易銀元，甚至還有拉丁美洲和中美洲的錢 幣。但是現場很少能找到這些錢幣，這點頗為遺憾。

長灘錢幣展會曾存在着所謂的“長灘詛咒”。意即金價會在 展會之前或期間下跌，而許多經銷商的收入來自於銷售與金 ▲ 美國長灘錢幣展

幣有關的錢幣，他們的財富則取決於他們存貨的價值，所以

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The Book of Macau Banknotes and Coins in Circulation

A Complete Record of the Currency in Circulation in Macau ◎ Zhou Bian〔Shanghai〕

The book named A Complete Record of the Currency in Circulation in Macau (《澳門發行流通鈔票及硬幣大全》) has two volumes: The Complete Book of Circulating Banknotes Issued in Macau and The Complete Book of Coins Issued in Macau . The book was edited by Deng Junxiao ( 鄧浚曉 ) and David Chio ( 趙康池 ), published by the Macao Numismatic Society and sponsored by the Cultural Affairs Bureau of the Macau SAR Government and PCGS, with a print run of 1000 copies. ISBN: 978-99965-338-0-8, 1st edition, November 2017. Contact e-mail: dcdesign772@yahoo.com.hk ; tangcy2001@yahoo.com.hk .

China, including commemorative banknotes and consecutive banknotes. Under each banknote is a description of the denomination, the front and back designs, as well as the color, size and printing of the note, including detailed information on the date of issue, date of circulation, number of issues and the time of recycling.

In 1553, the Portuguese acquired the right of residence in Macau. On December 1, 1887, the Qing government signed a draft treaty of the Sino-Portuguese Conference and the SinoPortuguese Treaty of Peace and Commerce with Portugal. Then, the Portuguese officially occupied and colonized Macau through diplomatic formalities. On December 20, 1999, the Chinese government resumed the exercise of sovereignty over Macau. The integration of Eastern and Western cultures has given Macau a unique appearance, which is also reflected in the currency issued in Macau. Many banknotes and coins have been issued in Macau over the past century, but there is a corresponding lack of historical and cultural records of the various banknotes and coins issued. The publication of this book, A Complete Record of the Currency in Circulation in Macau , fills this gap and makes an important contribution to the study and understanding of Macau's numismatic history and to the promotion of its numismatic culture.

The volume The Complete Book of Coins Issued in Macau is divided into five chapters, arranged in order of date. The first three chapters are about the legal coins in circulation in Macau, which are introduced in detail from 1952 to 1980, 1982 to 1988, and 1992 to the present. The fourth chapter is a series of commemorative coins. The fifth chapter is the special issue coin series of the Macau Numismatic Society. Each coin is illustrated with obverse and reverse patterns with text in English and Chinese, specifications, size and description of the minting institution. The appendix contains a summary of Macau legal coins, a summary of commemorative coins and other information.

The volume “the Complete Book of Circulating Banknotes Issued in Macau” in A Complete Record of the Currency in Circulation in Macau is divided into twenty-six chapters according to the year of issue of each banknote in Macau. There is complete information on early banknotes and coins. As for banknotes issued after 1945, they are divided into series according to the architectural and theme patterns on the banknotes, such as the A-Ma Temple, Luís de Camões, Avenida do Ouvidor Arriaga, D.Belchi or Carneiro, Ruínas da Antiga Catedral de São Paulo, etc. Chapters 11, 15, 16 and 17 introduce the series of banknotes issued by the Macau Regional Agent Bank. The rest of the book is about the banknote series issued independently and jointly by the Atlantic Bank and the Bank of

T he author of A Complete Record of the Cu r rency in Circulation in Macau has recorded the banknotes and coins issued and circulated in the past years in an exhaustive manner, based on the regulations announced by the Macau government at that time, with a true historical record and a rigorous academic attitude. The book also includes relevant information such as banknote signatures, the prefix of the number of the banknote, numbers, and supplementary variety, leaving accurate historical materials for the study and recording of Macau banknotes and coins. It also provides scholars and numismatists from the mainland and the world with an extremely important tool for a complete record of Macau banknotes and coins.

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書

RE V IE W S

B O O K

評

一部完整記錄的澳門流通貨幣的書

《澳門發行流通鈔票及硬幣大全》 ◎ 周 邊〔上海〕

大西洋銀行發行的紙幣，依次為早期紙幣系列（1905-1924

《澳門發行流通鈔票及硬幣大全》由《澳門發行流通鈔票大全》 年）、 紙 輔 幣 系 列（1920-1952年）、 憑 票 系 列（1944 年）， 和《澳門發行硬幣大全》兩本分冊組成。由鄧浚曉、趙康池兩 1945年其後又按鈔票上的建築和人物圖案分為“媽祖廟”、 位先生主編，澳門錢幣學會出版，澳門基金會和澳門特區政府 “雅廉訪”、 “卡內羅主教”、 “大三巴牌坊遺址” 文化局贊助，印數1 000本。書號 ：ISBN978-99965-338-0- “賈梅士”、 8，2017年11月第1版。聯繫郵箱：dcdesign772@yahoo.com. 等系列，1981年至 2013年，分為澳門發行機構代理銀行系 hk tangcy2001@yahoo.com.hk。 列、澳門地區代理銀行系列、大西洋銀行與中國銀行共同 發行系列。第十八章至第二十六章介紹了中國銀行在澳門

發行的紙幣（1995-2013年），包括中國銀行與大西洋銀行

自1553年葡萄牙人取得澳門

共同發行的紙幣，以及兩家銀行單獨和共同發行的紀念鈔、

政 府與葡 萄牙簽 訂《中葡會

尺寸，印刷單位，有關法規，發行量，發行日期，流通日期，

居住權，1887年12月1日，清

連體鈔。每張紙幣下均有面額，正背面設計，票面顏色及

議 草約》和《中葡 和好通商

回籠年份等詳盡資料。

條 約》，正 式 通 過 外 交 文 書 手續佔領澳門並辟為殖民地

《澳門發 行硬幣大 全 》分 冊，依 發 行 時間順 序 排 列，共

政 府 恢 復 對 澳 門 行使 主 權。

1982-1988年、1992年至今分別詳細介紹。第四章是紀念

的風貌獨特，在澳門發行的

列。每枚硬幣圖下均有正反面圖案與文字中英文介紹，規

之後，1999年12月20日中國 東西方文化融合匯通使澳門 貨幣上也有鮮明的反映。

硬幣系列。第五章則是澳門錢幣學會特別發行的紀念章系 格、大小與鑄造機構說明。附錄有澳門法定流通硬幣撮要、 紀念硬幣撮要等資料。

澳門百多年來發行了許多紙幣與硬幣，但對這些貨幣的歷

史文化記錄卻相應匱乏。 《澳門發行流通鈔票及硬幣大全》

《澳門發行流通鈔票及硬幣大全》一書完整而詳盡。作者

重要的幫助，對推廣澳門錢幣文化作出了重要的貢獻。

集的澳門歷年發行流通的鈔票與硬幣圖片及有關資料，諸

的出版，填補了這個空白，對研究瞭解澳門貨幣歷史提供了

該套書的《澳門發行流 通 鈔票大全》分 冊，中英文 對照， 按澳門大西洋銀行、中國銀行所發行的紙幣系列依年份先

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學術態度嚴謹，以當時澳門政府公佈的法規為基礎，將搜

如鈔票簽名、發行 字冠、編號、補版、不同種 類樣票等， 務求詳盡地錄入書中，為研究和記錄澳門鈔票與硬幣留下 了精確的史料，也為內地和世界學者、錢幣愛好者們提供了 一本完整記錄澳門鈔票與硬幣的極為重要的工具書。

後分別介紹，共二十六章。其中，第一章至第十七章介紹

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Previously Publish Chopmark Newsletter April 2011

CG - Colin Gullberg

Interview

BS -Burce Smith

with Burce Smith Originally Published in The Chopmark News in 2011 ◎ Colin Gullberg〔Taipei〕

In 2011, I talked with Bruce W. Smith. Mr. Smith is one of the most well-known names in Chinese numismatics and has written extensively on many areas of Chinese coinage and currency. We talked for over one and a half hours so I decided to publish most of what was said during our conversation in two parts in The Chopmark News . I talked to Mr. Smith at his home in Wisconsin via Skype.

CG: Tell me about your background. When did you get

agree with each other, so I knew there was some room

started collecting coins?

for improvement. In those days there wasn't a Standard Catalogue of

BS:

World Coins . There was the Yeoman catalogue but that was a type catalogue and didn't tell you anything about

Sometime in the 60s. I never really collected US coins. I

dates. There were individual books that told you about

was getting a beginner's coin magazine in the mail and

individual countries and if you had enough of those, you

then somebody gave me a box of foreign coins which

could figure out what were the key dates. So I financed

was collected by a distant relative who was in the US

my collecting by going to coin shows, clubs and coin

Navy and was in China in 1911 during the revolution.

shops and buying foreign coins that I knew were better

He was on a gunboat going up and down the Yangtze

pieces, either better dates or types, and then reselling

River and he was a collector. He died before I was born.

them. That's how I got the money to spend. I had some

Years later, when I got his collection, I discovered he

more money in 1980 but by that time I had already sold

had picked up coins from each of the places he had

my Chinese coins. I had been collecting mainly China

been in China. But at that time I was only collecting

and some of the surrounding countries and chopmarks.

Roman coins and worldwide coins, and I was planning

By the time I went to work for Krause Publications in the

to do a book on Roman coins. But I discovered after

1970s, I just couldn't find any more to buy. There was

not too long that there are hundreds if not thousands of

nothing available that I could afford so I got discouraged

books on Roman coins. So that's when I started looking

and I sold my collection to Scott Semans. I never really

at Chinese coins and realized that there were only a

stopped collecting chopmarked coins, but I sold them

few books on Chinese coins in English and most didn't

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BS:

with the Chinese coins to Scott Semans, so he got most of my collection.

At first my wife was going to shows with me, but when she stopped going, it just wasn't as much fun anymore. It was also harder to make any money because the prices of coins were actually coming down at that time

CG:

and all the expenses were going up.

When was that?

BS:

CG:

That was in 1976. I went to work for Krause Publication

Were you specializing in anything?

in December 1974. When I was working with them they were sending me to coin shows that I had never been to before, and even at the bigger shows I couldn't

BS:

find anything. So I sold the collection in 1976 and got married the next year and then left Krause and went

I was doing world coins, specializing in Asia and the

into the coin business as a dealer. By 1981 there were

Far East. But also I was selling old bank checks...... I

all kinds of Chinese coins coming on the market from

carried about 25,000 old bank checks to shows with

China, some of which I had never owned or even seen

me-and tokens and for a while postcards. I got rid

before. Now there were not only available but they were

of the postcards, but you couldn't make a living just

cheap. So I handled a lot of coins in the early 1980s I

selling Chinese coins. Maybe today you could. My wife

never had in the years I was collecting.

realized I was restless so she said, "Why don't you go back to school and finish your degree?" So I did. I started at the University of Missouri in 1970, then I went

CG:

into the service, and then did another year. We moved back to the St. Louis area in 1985 and I went back to

So you were a dealer?

the University of Missouri and did another two years. I had all the requirements for my degree except the language requirement. Originally they had waived the

BS:

language requirement because I had had two or three years of Latin in high school, but they had removed

I was a full-time dealer from 1977 to 1986. Then in

that waiver so I needed to have two years of a foreign

1986 I sold my coin business to Joel Anderson out in

language in order to graduate. The university had an

California.

exchange program with four different universities in China and I chose to go to Zhengzhou University in Henan province, which is located in the oldest part of

CG:

China. At that time I was particularly interested in the early coins of China, so I spent a year there.

So why did you leave the business?

CG: So then you did a Masters at Harvard. When was that?

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BS:

I was in China in my last year [1989]. We decided we

Oh yeah. Sometimes I get paid for it, most of the time I

had to leave in a hurry for some reasons. We had sold

don't. Once in a while I get hired by one of the auction

our house, our cars, our business, most of our furniture,

companies to work on a collection they've got.

and everything else was in storage [in St. Louis]. I had no place to go, no home, no job, and we ended up in

CG:

Seattle for two years. I tried to enroll in the [Masters Program] at the University of Washington in Seattle, but they didn't accept me. So the next year I applied

So you can't make a living at it.

again and I also applied at Harvard, UC-Berkley, and a few other places. The only one that would accept me was Harvard. So I drove across the country to start my

BS:

Masters degree.

No there's not enough stuff. Maybe if I really worked at it I could. The China market's so hot maybe if I promoted myself I could probably get enough work. I just turned

CG:

60 this week so I'm looking to slow down not work harder.

When was that?

CG:

BS:

What are some of the books you recommend to understand Chinese coins, trade coinage and whatnot?

That was in 1991. My professor of Chinese history at the University of Missouri had been telling me for years that I should go to Harvard, where he went, but when

BS:

I was getting ready to go to grad school, I talked to people in the field and they all told me the same thing:

I did a list in Numismatics International Bulletin of "must

Harvard used to be the place for Chinese Studies but all

have" books if you're interested in China many years

the important people had either died or gone someplace

ago. One of them is the Encyclopedia Sinica which was

else. It really wasn't such a good place any more. That's

originally published in 1917 but has been reprinted.

why I hadn't applied there the first time. And it was true.

It's the best one volume encyclopedia about China. It

There wasn't anybody there doing early Chinese history

has lots of concise articles to look up information that

except K. C. Chang, the archaeologist, and he was the

you need. There's the Dictionary of Ming Biography

one who oversaw my studies. So anyway, I got a degree

[2 volumes] , and the Biographical Dictionar y of

but it hasn't done me any good.

Republican China in four volumes. These books introduce the important figures and dates, information that is hard to find in other English language sources.

Chinese History-A Manual [1998] by Wilkinson is a

CG:

good guide to all the sources of information on China studies. Also there's a three volume set called Modern

Chinese Society . The first volume lists works in English.

Are you still doing research into coins?

It's a bibliography arranged by subject and location. It's quite useful to have. If you need a Chinese-English dictionary, you'll need two kinds now; the modern Pinyin one and the old traditional Wade-Giles. The best one for the old Wade-Giles is the Matthews Chinese-

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CG:

English Dictionary , which was originally published in 1931 but is still in print today. The best for Pin-yin is the

You mentioned in an email that you still have a few

Pin-yin Chinese-English Dictionary , which is a real fat

copper chopmarked coins.

thing and is also still in print. It was originally published in the 1980s.

BS:

Something else you need to have is a book by George Playfair, The Cities and Towns of China . This is a book

Yes. There are some Ming dynasty coins form the

that lists about 8,000 cities in China at the time it was

1600s that are sometimes found with chopmarks. No

published in 1910. But under each city it gives you the

one knows why. It's just those coins, not earlier or later

names it was known as under earlier dynasties, so it

coins, but just the late Ming coins that turn up with

actually contains tens of thousands of place names in

chopmarks. So I've got one or two of those left. There's

China. It has been reprinted in Taiwan, so if you really

also the large cash from the 1850s, coins from Fukien

look for it you can find it.

province on the coast. For some reason those come with chopmarks. Only the high denominations and they're chopped only on the rim.

If you can find a copy, there's the Dictionary of Chinese

Mythology by E. T. C. Werner. It was published in the 1930s and is really hard to find, but there are reprints

CG:

around, none of them recent. There's also a book by C. A. S. Williams: Chinese Symbolism and Art Motifs , which is readably available. It's good for identifying

Yes, I've seen a few and wondered why.

symbols on coins and what they mean. There's a book by J. Dyer Ball called Things Chinese ,

BS:

which is basically a dictionary of topics related to China. It was originally published in the 1903, but it's

Yes, it's not done in any other province, it's not done on

been reprinted.

lower denominations, it's not done later [than 1860], and it's only on the rim and I don't know why.

CG:

CG: Yes, I know two just sold in Europe in November of this

You did collect chopmarked coins. Why did you sell?

year both for €550 which seems like a very strong price

Was it because of the prices?

to me.

BS:

BS: No, at the time price wasn't an issue. At the time I just

Well you can't tell anymore. The prices of modern

couldn't find anything. I had a pretty large collection [of

Chinese coins don't make any sense any more. It's

coins] but I couldn't find anything to add to it. The really

crazy.

rare coins I couldn't afford, but pretty much everything else I already had. I sold it because I lost interest, because I could't add anything to it. Of course, that all changed a few years later. And in fact it's changed again. Now it's becoming really hard to find Chinese coins or stamps [in the USA] because Chinese dealers have just cleaned out the country.

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CG: Do you think the word 'chop' comes from India?

Why do you think chopmarks is a neglected area of numismatics? The CCC membership is about 90% American. There seem to be very few collectors in

BS:

Taiwan or China and most dealers I know here in Taiwan just laugh when I tell them I collect chopmarked

There's a book you should have if you can find a copy-it

coins.

took me 25 years to find a copy-which is called Hobson-

Jobson by Henry Yule. [He also did the best translation

BS:

of Marco Polo]. He was interested in the origins of words and words which had come into English from Chinese

Well, Chinese have been collecting coins since the

or Indian origins. He published a 900-page book of

Tang dynasty at least and they have been publishing

English words that had Chinese or Indian origins, and

catalogues on coins since at least the 900s, I've got

one of these words is 'chop'. You first see it in English

one from the 1100s, the oldest surviving Chinese

related to China in the 1700s, but you also see it in

coin catalogue, but the've always been interested in

English in the 1600s in India, to mean a trademark or a

cast coins-the old coins. When you get into the 20th

brand, and I think the word comes from this. When the

century and the modern machine made coins, we find

British first came to China to trade, the British East India

that Chinese had no interest in them and they were

Company [EIC] established a monopoly, and when they

not interested in foreign coins either. They were still

first went to China they took Indians with them. I'm not

just collecting and writing about the old cast coins,

exactly sure why. Read The Chronicles of the East India

so foreigners became the main collectors and also

Company Trading to China , by H.B. Morse (who was

the most knowledgeable people on modern Chinese

a collector of Chinese coins), which is arranged year-

coins. Now the Chinese are embarrassed by that. They

by-year and it tells you what the company was doing

can't imagine that westerners could know more about

in China from the 1630s up until the 1830s when they

their coins than they do. It's simply because we were

lost the monopoly. Apparently, the Indians were doing

collecting them longer and all the machinery came from

trade in China before the English got there, so they took

western countries. So foreign coins that circulated in

them along as negotiators and intermediaries, and a

China, that was of interest to foreigners too. Also, I think

lot of the Indians ended up staying, especially in Hong

another reason is there simply is not enough information

Kong. Some of the wealthiest families in Hong Kong are

about it. There's really no way to classify chopmark

actually Indian.

coins either by time or location, so it's really difficult to collect them in a methodical way.

I think these Indians brought the idea of chopmarked coins with them, maybe in the late 1600s or early 1700s.

In the west we think of 'methods' of collecting. In the

I think the origin of the word and the practice itself both

east they don't really think this way. In a lot of the old

come from India.

books published in China, the guy simply liked certain coins for some reason. Maybe he liked the sound or look of a certain character, maybe there was a picture

CG:

of a bat and he liked bats, so a collector would collect coins with a certain character or something he liked.

What is your opinion on the so-called 'chop book'? The

There was really no method to it from a western point

mythical book listing all the chops used at that time?

of view. Likewise there's no real way to classify chops. Maybe in the future we can make some progress, but it's probably mostly going to be this way.

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BS:

34 pieces in the collection. Now there're 34 important pieces and apparently back in the early 20th century,

I think what people are thinking of is that there's

someone at the bank had deliberately put together this

something called a 'hong' list, which is what we would

collection, so it is an important collection even though it

call a business directory. I've got several of them myself.

was very small. Amongst the rest of the collection there

It's just a listing of businesses and later they included

were a few trays of chopmarked coins. Unfortunately,

churches, societies, etc. 'Hong' just means 'business'

I hadn't looked at those, but we took hundreds of

and these are just a list of businesses. The oldest one

pictures, mostly of whole trays of coins. I still haven't

I have is from 1902 but they go back to the 1850s and

finished downloading all of them so I haven't actually

maybe even the 1840s. The early ones have the names

looked at the chopmarked coins yet. Unfortunately we

of all these firms in both Chinese and English. So it's

probably don't know when the bank got them. I assume

possible that some of these firms from the 1880s might

they're old and they got them during the course of trade,

have used their name or one character of their name

and not recently.

may have been used as a chopmark. But because it's only one character and there are a lot of companies over a long period of time, there's really no way to

CG:

associate one character with a certain company. For example the character 'ji' you see it all the time, there are hundreds of companies with that character in their

Is the collection open to the public?

name, and there's no way to figure out which one it is. I think that's where the myth of the chop book comes

BS:

from-these hong lists.

They do have a department for collections, and you can

CG:

contact them and make arrangements to look at the collection. In 2012 they're going to do an exhibit with the

Can you tell me about the collection at Hong Kong &

Hong Kong Museum of History.

Shanghai Bank in Hong Kong?

BS:

CG:

We were asked to take a look at it and do an appraisal.

When do you think chopping began?

We spent all day looking at the collection, which was Chinese coins, Hong Kong coins and everything else. They have all sorts of things they've picked up over

BS:

the years. Except for the Hong Kong coins, most of the stuff is not too impressive. They have a few really

Back in the 1970s when I had time, I actually read the

rare Chinese coins in the collection, but all of them were purchased in the 1980s or 1990s. One of the

5 volume set The Chronicle of the East India Company

officers in the bank had an interest in collecting, so he

Trading to China . The first time it turns up there is in

authorized the buying of these coins. They have a really

1776, but it was already commonplace by that time. It was

good Hong Kong collection, which was mostly donated

mentioned because the value of the coins was different-

by William Barrett, a dealer from Montreal. But what

if they were chopped or unchopped-and they were just

they have that's important is a collection of sycee. Joe

making a comment about that. Perhaps before that there

Cribb wrote a book called Money in the Bank which

wasn't a difference and they were just 'announcing' that

is a history of HSBC and he had a whole chapter on

now there was a difference.

the sycee collection. Now I thought this collection was huge, hundreds of pieces, but it turns out there are only

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is an annual publication that mainly deals with hoards

coins and asked people to turn them in. Probably most

of Greek and Roman hoards. Anyway, the article in

people didn't as there's still plenty of them coming out of

1977 was about four hoards found in Fukien province,

the country today.

all of which were cob coins, all before 1700, and some of which were chopmarked. Most were dated from the

Also, I think most people were pretty confident with

1640s and the second half of the 1600s. We can't be

foreign coins [by the 1930s and chopping wasn't

sure that the chops weren't applied at a later time, but

necessary]. If chopping was done outside of China, then

because all of the hoards (which were found in different

this currency reform wouldn't have affected [chopping

places) all have the same kind of coins and there are

outside of China]. I've never seen any direct evidence

no later dated coins [after 1700], it is felt that they were

that chopmarking was done outside of China, but if it

buried not long after the dates on the coins. So [the

was then those later coins with chopmarks could be

coins were buried] sometime in the second half of the

explained with that reason.

1600s. Which means that chopmarking must have begun during that time. And which pushes back the

Now we do know that many of the Thai "Yong Kim Hong"

date more than a century before I thought it had begun.

counterstamped coins (comes with either Chinese or

So the best evidence right now, is [that chopping dates]

Siamese characters) are phony. Some pieces may

from the second half of the 1600s.

be genuine, but many are not. This is one of the few cases where we actually have reliable information about something that happened relating to chopmarks. In the

CG:

Numismatic International Bulletin sometime back in the 70s, there was an article about the Yong Kim Hong

So when do you think it ended? There are a handful of

counterstamps. The information came from a nephew

coins from the 1940s with chops.

of the guy who had the chop made. His uncle had gone out of business and the stamps had been obtained by a New York coin dealer. I don't think he mentioned

BS:

his name, but you see a lot of those pieces turning up afterwards in Hans Schulman sales. In Schulman sales of the 70s you see them on US Peace Dollars and all

That's a harder thing to pin down. Historical research

kind of strange coins. So I'm pretty sure Schulman

is good at looking at the beginnings of things, but they never talk about the ends of things.

obtained them and made these counterstamps on

I don't know. There are Yuan Shih-kai dollars with

appropriate coins like Straits Settlements dollars and

late coins and weird coins. Some could be genuine on the like because these coins circulated in Thailand at

chopmarks that seem to be genuine; there are a few

the time. The stamps are genuine in both cases, but on

Sun Yat-sen dollars with one or two small chops which

US coins it's a little too weird.

seem to be genuine, so it looks like it was still being done in the 20s and 30s. But beyond that I sort of doubt it. Many people think that chopmarking stopped in 1935 because the Chinese currency system changed. That

CG:

may or may not be true. Silver coins didn't stop being used in 1935. The government tried to stop them from

Michael mentioned to me that you thought that 30% of

being used, in fact they ordered everybody to turn in

Rose was wrong. What specifically do you think was

their silver coins. The reason for that was actually that

wrong?

the Chinese were doing a secret deal with the United States, which was going to buy up all these coins. Ultimately the US ended up buying 200 million silver dollars from China, just before the war with Japan started. The Chinese government had outlawed the use of sycee and in 1935 they outlawed the use of silver

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something like that; so they actually are a lower grade silver-the Chinese were right.

Well he's got a lot of reliable information but the problem is that he has drawn some wrong conclusions or misunderstood what the information means. For one thing he talks about chopmarks in Manchu and I've

CG:

never seen anything that I think is actually Manchu. For example if you look at fig 182 the second word I think

That brings up another question, one of our members,

he says somewhere is a Manchu word, but actually it's

Roger Charteris asks: "What did the chop guarantee?

a cursive Chinese; the word 'Feng' written in cursive

Fineness? Weight? Authenticity? All three?" I don't think

rather than in a type [printed] character. Now fig 184,

it could be fineness as the Chinese chopped a variety of

I don't know what that is, it could be Arabic. Rose

coins with different levels of fineness.

seemed to confuse the cursive form of Chinese with Manchu.

BS: CG:

I think the chop was only a guarantee that it was acceptable silver. It didn't really matter if the coin was

One thing I think is probably wrong in Rose is that he

genuine or not. As long as it had the right weight and

states that the Mexican Balance 8 reales were detested

right fineness as far as they could tell. I mean they were

by the Chinese and thus were heavily chopped and

only looking at it by eye and by sound. If it looked like

often chiseled to remove the balance, but I have found

the silver was good and it sounded good [the 'ring'] and

them with only one or two chops so that's obviously

the weight was acceptable then it was okay. You see a

false. They were accepted by the Chinese.

lot of references being made to fake Spanish American coins being made at a place near Canton. Well those pieces, and there were many different kinds, some of

BS:

those were actually good silver. Some were the same weight and fineness as Mexican coins, but they were

No, that doesn't make any sense. I've never heard

simply made in China. I've actually seen assays done

anything like that. It's true that the Chinese did prefer

on some of these pieces. In fact the British government

some coins over others. In most cases it was that they

did assays on some and they found for some coins the

preferred the older coin that they had already been

fineness and weight was just as it should have been, in

using over some new coin. At first westerners had a

other cases it was way off. But some of the pieces they

hard time getting Chinese to accept Mexican coins.

assayed had dates that didn't mean anything, dates

They were used to the old Spanish American pillars and

like 1087 or 1113, which didn't make any sense at all.

portraits [types]. When Mexico became independent,

Obviously, they were not genuine mint products.

they stopped making them, so western traders couldn't get them anymore. They tried real hard to get the Chinese to take the new coins and, at first, they would

CG:

only take them at a discount. At the time in China the Taiping Rebellion was going on, the price of silver was high, so they accepted them-reluctantly. Once they used

Another member, Bernard Olij, asks about the fact that

them for a while it was okay. The only thing was they

the British government was making a Spanish 1778 8

didn't want the one with the Go. mintmark [Guanajuato].

reales in Canton with dies from England. Mr. Olij would

They said it wasn't as pure as the others. Westerners

like to know if these coins can be recognized in any way.

were thinking that's nonsense, they're all the same, but I've seen some assays on coins of that mint, and indeed the coins are lower grade silver than they should be. They should be .902 but they're actually .870 or .850 or

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BS:

That whole story is a myth. The story comes from Virgil

No, in most cases they were copper with silver plating.

Hancock in Cal Coin News back in the 60s. Cal Coin

It was widespread in Birmingham at that time and it

News is a club publication from one of the clubs in

finally got exposed and the government stopped it. But

California. It's hard to get but they did reprint some of

this event is long after the war with Spain. It wasn't a

the best articles in a book called Money Talks (which is

case of the British government or the EIC making these

a really good book). The Hancock article was about how

coins, but of private British mints making these fakes

the British East India Company made counterfeits of the

coins to sell to banks and merchants. Remember those

1778 Mexican 8 reales, but the whole thing is nonsense.

Spanish dollars were used all over the world, not just

What happened is Hancock had read some things about

in China. So it could be they were made for the United

the East India Company [EIC], about shortages of silver,

States, Mexico or almost anywhere else. But there's

about 1778, about this private mint outside Canton, and

no evidence that either the British government or the

he connected them all together into one story. But in

EIC made these things. Now there is evidence that the

fact they take place at different times. The mint outside

private mint outside Canton [in the 1850s] obtained

of Canton was operating in the 1850s, not the 1770s. I

foreign dies at great expense. If they were actually

checked the years involved and England had gone to

genuine dies, they must have come from the Spanish

war with Spain and the East India Company couldn't get

or from one of the Latin American countries, but not

Spanish dollars anymore, so somebody in the company

the British. It was said to have been done on behalf of

sent a proposal to the head office in London asking

a large company and I guess Hancock assumed it was

"Can we have some copies made perhaps at one of the

the British East India Company, but they were already

Indian mints that we can use in our trade here." Well the

out of business by that time. The EIC ended in 1834 so

EIC turned it down and instead started sending Indian

by the 1840s they weren't around anymore. My guess

rupees. For about ten years after that, all the coins the

is it was a foreign company (perhaps even American)

EIC sent to China were Indian rupees. If you read the

operating in China at the time. But the whole thing about

Chronicles of that time they give a list of all the different

the 1778s is all a myth.

kinds of rupees they were sending and how many of each kind. The Chinese didn't like them very much, again. So it's not true the British EIC made these things,

CG:

and it's not true they were made at that time, and it's not

Another email from Howard Daniel who you know. He

but they took them until they could get the regular coins

true that 1778 was any particular date that was imitated.

doesn't have a specific question but he refers to the high prices for Chinese items today-coins, stamps, paper

Now there was another situation in the 1790s, at

money, art, etc. Do you think that there's a bubble going

that time there were a number of private mints in

on in the Chinese collectibles market now?

Birmingham, England and some of those private mints were making fake Spanish dollars. Who they were

BS:

being made for is not clear. They were being made for merchants and probably banks that were doing illegal business with these fake coins.

Well I don't know anything outside of coins and paper money, but there's def initively a bubble. What 's happened is there are a lot of people in China who have money now-a lot-and they don't really know what to

CG:

do with it. They don't trust the Chinese currency, they don't trust the Chinese government, and they don't trust the Chinese banks. And they have trouble getting it

Were they real silver?

out of the country, so they would rather buy something physical. Thus most of the really high-priced stuff is going to speculators. Normally a super rare Chinese

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BS:

coin will only show up once every twenty years or so. Now you're seeing the same coins turning up every

I don't know. Some people theorize that the large chops

six months. Some guy buys it in June and puts it up

were used in one place and small chops in another.

for sale in December hoping he can make a profit. So

Others think one is earlier, the other is later. I hope it's

it's a bubble; how long it will last is another question.

that simple. Usually things are never that simple. My

If economic conditions in China are good for the next

guess is the only way we're ever going to figure any of

ten years, it could go on for another ten years, but

this out, is first to do a large database on chopmarks

eventually you've got to find a real buyer. They can

arranged according to the date of the coin. When you

only trade it back and forth only so many times. I don't

lay them all out you may begin to see a pattern appear.

think there's a collector base for the kind of high prices

[For example] one group of chops might tend to be on

they're asking now. I think eventually it's all going to

the early coins. If you separate them by country, you

come crashing down.

might also find a pattern. For example, French IndoChina piastres. If chopping was being done in Vietnam and we find certain chops only on the French-Indo

CG:

China coins, then maybe we can conclude that those chops were done in Vietnam. But we need to look at a

Unfortunately, if you are a collector you have to face

lot of coins, a lot of dates, before we can begin to make

these prices.

these kinds of conclusions.

CG:

BS: This happened in the US in the 1980s. Silver and gold

Well thank you for talking to me. It's been fascinating.

prices were high and prices of coins went up, and what happened was collectors simply stopped collecting for awhile. I was a partner in a coin shop at that time

BS:

and we had gotten into diamonds as well as coins. If it hadn't been for the diamonds, we would have gone out of business.

You're quite welcome.

CG: Another email from Jim Sherrell; he wants to know about the timeline of chops. According to Jim's observations, around 1820 the chops seemed to get much smaller as compared to earlier and later times. Do you think there is any significance to this or this date?

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原刊載於 2011 年 4 月出版的《戳記幣通訊》

2011 年 對史博祿先生關於戳記幣的訪談

CG - 高林

BS - 史博祿

◎ 高 林〔臺北〕

我在 2011年通過 Skype 和身處威斯康星州家中的史博祿進行了超過一個半小時的交流。史博祿是中國錢幣界最 知名的人物之一，曾就中國錢幣和貨幣的諸多領域撰文。我決定將此次對話中的大部分內容分兩次刊載在《戳記 幣通訊》中。

CG: 到還有改善的空間。

請說說您的收藏背景，從什麼時候開始收集錢幣呢？

當時尚未有《世界硬幣標準目錄》，僅有《美國錢幣指南 手冊》，但這只是一本幣種目錄，並無說明日期、年份等

BS:

事。也有幾本書分別記錄各個國家的錢幣，但貨幣要收

19世紀60年代左右吧。我不算真的收集美元硬幣，只是

藏得夠多，才能知道哪些是關鍵日期錢幣。為了資助我

有次我收到一本錢幣收集入門雜誌，然後有人給了我一

的收藏，我去了錢幣展覽、郵幣社及販售商店，收購一

箱的外國硬幣。那些錢幣是一個遠房親戚收藏的，1911

些擁有不錯日期或幣種的錢幣，再轉手出去。這就是我

辛亥革命時，身為美國海軍的他人在中國，隨着長江中的

取得資金的方法。1980 年，我有些資金，但我也幾乎將

炮艦載浮載沉。他還是位收藏家。他在我出生前就過世

中國錢幣都賣出去了。我曾收藏大部分中國及周邊國家的

了。多年後，當我拿到他的收藏時，發現他每到中國一處，

錢幣及戳記幣。在我於1970 年代任職於克勞斯出版社時，

便會收藏當地硬幣。當時的我僅僅收集羅馬硬幣及世界

我已找不到可收購的錢幣了，沮喪的我將收藏都賣給了斯

流通錢幣，並計劃出一本關於羅馬錢幣的書，但不久後

科特•塞曼斯。我從未真的停止收集戳記錢幣，但我將

便發現已有成千上萬本關於羅馬錢幣的書籍。在那刻我

戳記錢幣及中國錢幣都賣給了斯科特•塞曼斯，所以他

才注意到中國錢幣，也了解到關於中國錢幣的英文書籍

擁有我絕大部分的收藏。

寥寥無幾，甚至書中有些觀點還相互對立，所以我認知

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CG:

BS:

我當時收集世界通行貨幣，尤其是亞洲及遠東國家的。但

大概在什麼時候呢？

我也賣舊銀行支票及代幣⸺ 我都會隨身攜帶約25 000

美元的舊銀行支票⸺ 有陣子也會賣明信片，後來我捨棄

明信片。或許現在可以，但當時很難只靠賣中國錢幣維持

BS:

生計，我妻子明白了我的不安，她說 ： “你何不回去校園完

1976年的時候。1974 年12月，我入職克勞斯出版社，他

成學業呢？”所以我就重回學校讀書了。我於1970年在美

們讓我見識到從沒見過的錢幣展覽，即便如此，再大的

國密蘇里大學讀書，後來我去當了兩年的兵。我們於1985

於隔年步入 婚 姻，然 後離開克勞斯，成 為貨幣經 銷商。

書。除了語言這項門檻外，其他的畢業門檻我都已達到。

展覽，我仍毫無收穫。所以我在1976年將收藏轉賣，並

年搬回了聖路易地區，我也再次回到密蘇里大學讀了兩年

在1981年，各式各樣的中國錢幣從中國流入市場，有些

校方一開始免除了我的語言門檻，因為我曾在高中學過兩

我從未擁有過，甚至從沒見過。如今這些不但很好取得，

三年的拉丁語，但後來他們取消了對我的豁免，所以我還

還很便宜，所以我在1980 年代前期，經手了許多我在收

需要讀兩年的外語才能畢業。密蘇里大學的海外交換計

藏時期從未擁有過的錢幣。

劃與四所不同的中國大學有合作，而我選擇去河南省的鄭

州大學，這所學校位於中國最古老的地區。當時我對中國 早期的錢幣特別感興趣，所以在那待了一年。

CG: 所以您曾是位商人？

BS:

CG:

1977年至1986年間我是個全職經銷商，但在1986年，我

後來您還在哈佛大學攻讀了碩士學位，這是哪一年的事？

在加州將我的貨幣生意賣給了 Joel Anderson 。

CG:

BS:

大學的最後一 年 (1989)，我 人在中國。因為一些 原因，

您為何會離開這個行業呢？

我們匆匆忙忙的離開，放棄了學業，賣了我們的房子、車 子及大部分的傢俱，其餘都留在聖路易的倉庫。我無處

可去，沒有家，也沒有工作，我們最 終在西雅圖待了兩

BS:

年。我試着申請西雅圖華盛頓大學的碩士班，但沒有通 過。所以第二年我再一次申請，也申請了哈佛大學、加州

一開始我妻子會與我一同參觀 展覽，但當她不再去後，

大學伯克利分校和其他學校。唯一錄取我的只有哈佛大

這項活動就不再有趣。由於當時貨幣價值下跌，所有花

學，所以我開着車穿越整個國家，開始我的碩士課程。

費卻上漲，所以也很難獲利。

CG:

CG:

那您有專門收集哪種貨幣嗎？

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這是哪一年的事呢？

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BS:

這是在1991年的事。我在密蘇里大學的中國歷史教授多

如 果 你 對 多 年 前 的 中 國 感 興 趣， 我 在 Numismatics

International Bulletin 中 列 出了“ 非 有 不可” 的 書 籍。

年來一直告訴我，我應該到他的母校哈佛大學去，但當

我準備攻讀研究生時，我告訴了同在研究漢學的人，他們

其中之一是1917年出版的《中國百科全書》，現已再版。

方，但所有重要人物不是已去世，就是去了別的地方。這

瞭的文章可用來查詢所需資料。也推薦《明代名人傳》兩

這本關於中國的百科全書是數一數二的，有許多簡單明

卻都告訴我同樣的事情 ：哈佛曾經是個漢學研究的好地 真的不再是一個好地方了。 這就是我第一次沒有申請的

冊、 《民國人物傳記辭典》四冊，這些書介紹了重要的人

原因。 這是真的。 那裏除了考古學家張國春，沒有人在

物和日期，以及在其他英語資源中很難找到的信息。魏

根深的《中國歷史研究手冊》（1998）是所有中國研究的

研究中國早期歷史，而他也是我研究的負責人。總之無

資料來源的優秀指南。還有一套三冊的書，名叫《現代中

論如何，我還是獲得了學位，即使它對我沒有任何幫助了。

國社會》。第一冊列入一些英文作品，是個按主題和位置

排列的參考書目，非常實用，值得擁有。如果你需要中 英辭典，你現在會需要兩種 ：現代拼音和舊有的威妥瑪

CG:

拼音。 《麥修氏漢英辭典》是最好的威妥瑪拼音辭典，於

1931 年初版，直至今日仍持續出版中。而拼音最好的是

請問您還在研究貨幣嗎？

《拼音漢英辭典》，很厚的一本的書，最初於 1980 年代出 版，且仍在持續出版中。

BS:

除此之外，你還需要一本喬治•佩福來所著的《大清城

偶爾會有相關工作，但大部分時間沒有。有陣子我被一

鎮地理辭典》。這本書於1910 年出版時，列出了約8 000

家拍賣公司聘用，為他們處理收藏品。

個中國城鎮。在每個城市下面，還附有該城市在歷朝歷

代的名字演變，所以它實際上包含了中國數以萬計的地

名。臺灣已經再版了，所以如果你真的要找的話是找得 到的。

CG:

如果找的到，也推薦倭納的《中國神話學辭典》。它出版

所以您沒辦法以這維持生計。

於 1930 年代，確實很難找到，即使有再版，也都不是

近期的。還推薦文林士的《中國藝術象徵詞典》，這本書 較好取得，有助於識別硬幣上的符號及其含義。

BS:

沒辦法，沒有那麼多差事。如果我真的在那家拍賣公司

波乃耶有一本書名叫《中國風土人民事物記》，基本上是

也許可以得到足夠的工作量。但我這週剛滿60歲，所以

再版。

任職 或 許可以。中國市場這麼 熱門，如果我毛 遂自薦，

一本與中國有關的話題辭典，最初於1903年出版，但已

我希望放慢腳步，不再拼命地工作。

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您曾收集過戳記錢幣，為什麼轉賣呢？是因為價格嗎？

請您推薦一下，哪些書籍可用來瞭解中國錢幣、貨幣交易 制度等等。

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沒辦法。近代中國硬幣的價格不再符合常理，很瘋狂。

不，當時價錢並不是問題，我只是再也找不到任何東西

收藏了。我有相當多的錢幣收藏，但找不到任何可以添購 的了。我負擔不了真正稀有的硬幣，但其他錢幣我幾乎都 擁有了。我轉賣是因為我失去了興趣，因為我無法添購任

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何錢幣。這一切也在幾年後發生了變化。事實上，它又

為什麼你認為戳記在錢幣學中是一個被忽視的領域？世

變了。如今（在美國）很難找到中國硬幣或郵票，因為中

界海關組織的成員大約有90% 都是美國人。收藏家在臺

國的郵幤經銷商剛掃蕩了整個國家。

灣或中國大陆似乎很少見，且我在臺灣認識的大多數經 銷商在知道我收集戳記硬幣後都笑了。

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BS:

您在一封電子郵件中提到，您尚有一些銅質的戳記硬幣。

中國人至少從唐朝就開始收藏錢幣，他們至少從 900 年代 就開始出版錢幣目錄，我有一本現存最古老的1100 年代

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的中國錢幣目錄，但他們總是對鑄造硬幣⸺ 舊硬幣感

興趣。當進入 20世紀，由現代機器製造硬幣，我們發現

是的。有一些1600 年代的明朝錢幣，有些帶有戳記，原

中國人不再對它們或外國硬幣感興趣。他們仍然只是收

因無人知曉。那些硬幣不早也不晚，剛好是帶有戳記的

集舊鑄幣和撰寫相關書籍，所以外國人成為主要的收藏

明朝晚期硬幣。所以我還留着一兩枚。還有來自於1850

家，也最瞭解近代中國錢幣知識。如今中國人為此感到

年代福建省沿海大筆現金的硬幣，出於某種原因，那些

難堪，他們料想不到西方人會比他們更了解他們的硬幣，

帶有戳記。只有面額較高的戳記在硬幣邊緣。

只因為外國人收集中國錢幣的時間更長，而且所有的機 器都來自西方國家。所以在中國流通的外國硬幣，外國人

也很感興趣。另外，我認為另一個原因是由於資料不足，

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確實沒有辦法按時間或地點將戳記硬幣進行分類，因此 很難有條不紊地收藏它們。

是的，我見識過一些，也好奇原因。

西方國家思考收藏的“方法”，東方國家卻不這麼想。在

很多中國出版的舊書籍中，作者出於某種原因只喜歡某

BS:

些硬幣，也許喜歡某個人物的聲音或外表，也許是有蝙

在任何其他省份都沒有這樣，較低面額的、晚期（1860

蝠圖案，而他剛好喜歡蝙蝠，所以收藏家會收集具有某

年後）都沒有，而且戳記只印在錢幣邊緣，我也不知道

位人物或他喜歡的東西的硬幣。 從西方的角度來看，真

為什麼。

的沒有一個完善固定的方法。同樣地，也沒有實際方法 來分類出戳記，也許將來能有一些進展，但很可能大致 上就是這樣。

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據我所知，今年（2011年）11月才剛在歐洲以550 歐元的 價格出售了兩款，這個價格對我而言真的很昂貴。

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您認為“chop”這個詞來自於印度嗎？

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本不知道哪一個才對。

有一本書如果找得到就非有不可⸺ 我花了 25 年才找到

我認為這就是 “戳記列表”虛構的由來⸺ 這些“行名錄”。

（他還曾是馬 一本⸺ 亨利•玉爾的《霍布森 - 喬布森》。

可波羅最好的翻譯）。他對單字的起源以及從中文或印度 文轉變而來的英文單字很感興趣。他出版了一本900頁的

書，包含源自中國或印度的英文單字，其中一個單字便是

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“chop”。它在1700 年代第一次出現在與中國有關的英文

您能和我說說在香港滙豐銀行的收藏嗎？

中，但在1600 年代在印度看到這個英文，意思是商標或

品牌，我想這個詞就是由此而來。英國人第一次來中國 貿易時，英國東印度公司（EIC）壟斷了行業，且他們第

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一次去中國的時候就帶着印度人同行了。我不確定原因。 讀完馬士（他是中國硬幣的收藏家）的《東印度公司對華

我們要幫忙查看收藏品並進行評估。我們會花一整天查

貿易編年史》，知道這本書是按年排列事件，且內容包含

看收藏品，確認哪些是中國大陆硬幣、香港硬幣或其他

該公司從1630 年代到1830 年代失去壟斷地位時在中國做

東西。這些年來，他們收集了各式各樣的東西，但除了港

了哪些事。顯然，印度人在英國人來之前就已經在中國

幣，其他東西大部分都沒什麼特別的。他們收藏了一些非

進行貿易，所以英國人把他們當作談判者和中間人，最

常稀有的中國硬幣，但都是在1980或1990 年代買入的。

後很多印度人都留下來了，尤其留在香港。有些富有的香

銀行的一名人員對收藏硬幣感興趣，因此他授權購買這

港家庭實際上是印度人。

些硬幣。他們收藏了非常好的香港錢幣，大部分是由來自

蒙特婁的經銷商威廉巴雷特捐贈的，但最有價值的是銀

我 認 為這 些印度 人帶 來了戳 記 硬 幣 的 概 念，可能 是在

錠收藏。喬•高利辰有本名為《香港滙豐銀行藏品圖錄》

1600年代末或1700年代初。我認為這個詞的起源和實踐

的書，是關於滙豐銀行的歷史，其中有一章專門講述了銀

都來自印度。

錠收藏。我以為這項收藏很壯觀，有數百枚，但實際上 僅僅34 枚。如今這 34 枚重要的藏品，顯然銀行中有人在

20世紀初特意把這些放在一起，所以它是一項極為重要

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的收藏，即使看起來不大。在其餘的收藏品中，有幾碟

您對所謂的“戳記列表”有何看法？這是一本列有全部當

戳記硬幣。然而不幸的是，我從沒仔細查看過，但我們

時使用戳記的虛構書。

拍了數百張整碟錢幣的照片。我還沒有下載完所有照片， 所以我還沒認真看過這些戳記硬幣，可惜我們不太知道

銀行什麼時候收藏的，我覺得它們很有年代，且可能是 在非近期的某次貿易中得到的。

BS:

BS: 我想這是一種名叫“行名錄”的表，我們稱之為商業

目錄，我自己有幾份。這只是一個公司列表，後來也包

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括教堂、組織等。 “行”指的是“企業”的意思，這些只

這項收藏是否對外公開？

是企業的列表。我所擁有之中年代最久 遠的是1902年， 但它們可以追溯到 1850 年代，甚至1840 年代。早期版 本有所有公司的中英文名稱，因此這些1880 年代的公司

BS:

可能將公司名稱或其中一個字符用作戳記。但是因為只 有一個字符，而且很長一段時間裏有很多公司，所以真

他們確實有個負責收藏的部門，可以聯繫他們安排參觀。

的很難準確地從一個字符聯想到某家公司。比如你經常

他們將於2012年與香港歷史博物館合辦展覽。

看到“記”這個字，名字裏有這個字的公司有上百家，根

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幣，實際原因是中國人正與美國進行秘密交易，美國將購 買所有這些硬幣。最終，就在與日本的開戰前，美國從中

您認為是從何時開始在錢幣上戳記的呢？

國收購了2億美元的銀幣。中國政府禁止使用銀錠，並於

1935年禁止使用銀幣，且要求人民上交，大多數人幾乎

都沒遵守，因為如今仍有很多銀錠、銀幣出現在中國。

BS:

我在1970 年代有空時，讀完了《 東印度公司對華貿易編

除此之外，我想在1930 年代，大多數人對外國錢幣都很

早已很普遍。之所以提到是因為這些硬幣的價值是不同

的國家有戳記技術，那這次貨幣改革就 不會影響國外。

年史》五冊，即使戳記是於1776年才首次出現，但當時

有信心，認為打孔戳記技術並非必須。如果在中國以外

的⸺ 是否有戳記⸺ 他們便會對此發表意見，也許在

我從沒看過任何證據直接證明中國以外的地方有戳記技

那之前是毫無區別，而他們便是“發表”。如今有所不同。

術，倘若真是如此，那後來的那些戳記硬幣的出現就說 得通了。

《硬幣囤積》是一份主要關於希臘和羅馬收 藏的年刊。

1977年，喬•高利辰曾於此年刊中發表了一篇關於在福

現今，我們知道許多泰國“永金豐”戳記錢幣（帶有中文

幣，還有一部分有戳記的，大多數可追溯到1640 年代及

這是少數我們確切擁有與戳記相關的可靠信息。在 20世

建省發現的四個寶庫的文章，其中都是1700 年以前的寶

或暹羅字符）都是假的。或許有些是真的，但大部分不是。

1600年代後半期。我們不確定這些戳記是不是後期使用

纪70年代的某次《錢幣學國際公報》中，就有一篇關於“永

的，但因為所有寶庫（在不同的地方發現）都有相同種

金豐”戳記錢幣的文章。資料來自一個打孔戳記工人的

些硬幣是在日期戳記後不久就被埋存了。所以硬幣是在

了。我不記得他是否有提到他的名字，但從後來的漢斯•

類的硬幣，且沒有年代更晚的錢幣（1700 年後），感覺這

侄子，他叔叔的事業倒閉了，商標也被紐約的錢幣商收購

1600年代後半的某個時候被掩埋的，這意味着戳記技術

舒爾曼的拍賣中能看到很多這樣的戳記。在70年代舒爾

一定是在那段時期開始的，比我預計的再早了一個多世

曼藏品的拍賣中，美國和平銀元和各種奇怪的硬幣上都

紀，1600 年代後半期的年代戳記便是目前最好的證據。

能看到它們的出現，所以我很確定舒爾曼曾擁有這些，並 在後來的硬幣和奇怪的硬幣上印上這些戳記。有些在合 適的硬幣上可能是真品，如海峽殖民地美元等，因為這些

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錢幣曾在當時的泰國流通。這兩種情況下有戳記的都可 能是真品，但在美國硬幣上就有點奇怪了。

那您認為它從何時結束呢？有一些1940 年代的硬幣也帶 有戳記。

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邁可曾向我提到您認為羅斯三成是錯的，請問您具體認 為哪裏錯了？

這更難肯定。歷史研究通常着重在事物的開始，卻從不 討論事物的結尾。

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我也不知道。有猶如是真戳記的袁世凱錢幣 ；也有幾枚 有着一兩處小戳記的孫中山錢幣，看起來極似真貨，彷

他有很多可靠的信息來源，但問題出在他得出了一些錯

相信。很多人認為打孔戳記技術在1935年停止是因為中

戳記，但我從未見過我所認為真屬於滿族的東西。例如

彿20世纪 20、30年代還在做。但除此之外，我有點不太

誤的結論或誤解了信息的含義。一方面，他提到了滿文的

國的貨幣制度變了，這還有待商榷，但銀幣並沒有在1935

圖182 的第二個字符，他會說那是滿文詞語，但實際上是

年停止使用。政府是有試着停用，且要求每個人上交銀

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草書漢字 ；是“風”字的草書，而不是印刷字元。圖184，

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我不確定是什麼，可能是阿拉伯語。Rose 似乎將草書與

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錢幣。如果銀幣看起來不錯，聲響聽起來也不錯，且重

滿文搞混了。

量可以接受的話，那就沒問題了。你能在看到很多關於

廣州附近製造假西班牙文美洲國家硬幣的案例。那些錢

幣有很多不同的種類，其中一些其實是不錯的銀幣。有

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些與墨西哥硬幣的重量和純度相同，卻是在中國製造的。 我曾親眼見識過對其中一些硬幣進行化驗。事實上，英

我認為羅斯有個想法錯了，他說墨西哥8雷亞爾錢幣被中

國政府對一些硬幣進行了化驗，發現有些硬幣的純度和

國人厭惡，因此被大量銷毀並鑿掉，以消除平衡，但我

重量與標準無區別，其他就相差甚遠了，但他們分析的

僅僅發現一兩枚，所以顯然是錯的。中國人是接受的。

某些戳記的年份毫無含意，如1087年或1113年，這根本 不合理，它們明顯不是真正的鑄幣廠產品。

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不，這不合理，我從沒聽說過這種事。中國人確實有偏

好的錢幣。大多數情況下，他們喜歡已使用過的舊錢幣，

另一位成員伯納德•奧利傑想了解英國政府在廣州製作

而不是一些新製的。西方人一開始很難讓中國人接受墨

西班牙1778年8雷亞爾和來自英國的模具的事實。奧利傑

西哥硬幣，他們習慣了較有年代的西班牙語美洲國家的

先生想知道這些硬幣是否可以以任何方式被識別。

柱子和肖像 （類型）。當墨西哥獨立後，他們停止製造硬幣， 西方商人便再也買不到這些錢幣了。他們極為努力地想讓 中國人使用新硬幣，起初，他們以折扣吸引。當時中國太

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平天國起義，白銀價格高昂，所以勉強接受了。在他們用

整件事就是一個虛構的故事。這個故事來自60 年代卡爾

了一段時間後就習慣了，唯一的問題是他們不想要印有瓜

納華托鑄幣廠的錢幣，他們表示它不像其他錢幣般純淨。

錢幣報中的維吉爾漢考特。卡爾錢幣報是一份來自於加

關於那個鑄幣廠錢幣的化驗，確實這些錢幣的含銀純度

本名為《會走路的錢》的書中再版一些不錯的文章（這是

州一間俱樂部的出版物。很難買得到，但他們後來在一

西方人認為這絲毫不合理，分明都一樣，但我看過一些

一本非常好的書）。漢考克的文章是關於英國東印度公司

比標準值還低。舉例來說，應該要 0.902 ，但實際上只有

如何偽造1778年的墨西哥8雷亞爾錢幣，但 整 件事根本

0.870 或 0.850 或類似的東西 ；結果中國人實際上早就

不合理。真實故事是，漢考克讀了一些關於東印度公司、

還需要纯度是較低等級的白銀⸺ 中國人是對的。

關於白銀短缺、關於1778年、關於廣州郊外的一間私人

鑄幣廠的文章，他將它們全部串連成一個故事。但這些

CG:

事件實際都發生在不同的時間。廣州郊外的鑄幣廠是在

1850年代運營，而不是1770年代。我檢查了所有涉及的

這又延伸出了另一個問題，我們另一位成員羅傑•切爾

年份，英國與西班牙開戰，東印度公司再也無法獲得西

蒂斯問道 ： “戳記究竟代表什麼保證？純度？重量？真實

班牙錢幣，所以公司中有人向倫敦總部提出了建議，詢

性？還是三個都有？”我不認為會是純度，因為中國人戳

問“是否能複印一些我們可以在這裏進行貿易的印度鑄幣

記了一堆不同純度的硬幣。

廠。”東印度公司拒絕了，並開始發送印度盧比。在那之

後的十年間，東印度公司送往中國的所有硬幣都是印度 盧比。如果讀過當時的編年史，就會知道他們列出了所有

BS:

他們送出的各種盧比以及每種盧比的數量。中國人不太

喜歡這些錢幣，但他們仍一直使用直到他們再次拿到普

我認為戳記只能保證它是合適的銀，硬幣是不是真品並

通硬幣。因此，英國東印度公司製造這些錢幣不是真的，

不重要。據他們所說，只要錢幣擁有合適的重量和合適

在那時候製造的也不是真的，而且1778年是什麼都被模

的純度就好。我的意思是他們只會用眼睛和聲音來觀察

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BS:

仿的特定年份也不是真的。

除了硬幣和紙鈔，我什麼都不太了解，但肯定有泡沫現象。

在1790 年代又出現了另一種情況，當時在英國伯明翰有

現在就是中國有很多人很有錢⸺ 非常有錢⸺ 但他們

許多私人鑄幣廠，其中一些私人鑄幣廠會偽造西班牙錢

不太知道如何花這些錢。他們不信任中國貨幣，不信任

幣。這些鑄幣廠是為誰製造的還不得而知，但肯定是為

中國政府，也不信任中國銀行，且他們很難將這些錢帶

了某個使用這些假幣進行非法業務的商人和銀行製作的。

出國，因此他們寧願買一些實體物。因此大多數真正有 價值的東西都進了投機客的口袋。通常一枚超級稀有的

中國硬幣每20 年左右才會出現一次，但現在每 6個月出現

CG:

的硬幣都相同。有人在6月購入，在12月掛牌轉賣，希望 能從中獲利，這就是一個泡沫現象 ；它會持續多久又是

那這些錢幣是純銀嗎？

另一個問題。如果未來10 年中國的經濟狀況良好，這情

形可能會再持續10 年，但最終必須找到一個真正的買家。 他們只能來回交易這麼多次。我認為他們現在要求這種

BS:

高價沒有收藏家基礎，這一切最終都會崩盤。

不，在大多數情況下，這些是鍍銀的銅幣。當時在伯明 翰很普遍，最終曝光後，政府便禁止了這些錢幣，但這

CG:

在與西班牙的戰爭後很久才發生。這些錢幣並不是英國 政府或一國東印度公司製造的案例，而是英國私人鑄幣

不幸的是，如果您是位收藏家，就必須面對這樣的價格。

廠製造這些假幣出售給銀行和商人的案例。這些西班牙 錢幣在世界各地使用，而不僅僅是在中國。因此，它們

可能是為美國、墨西哥或其他任何地方製造的。但沒有

BS:

證據 證明英國政 府或英國東印度公司製 造了這些硬幣。 現已有證據表示，1850 年代廣州郊外的私人鑄幣廠高價

這發生在1980 年代的美國，因白銀跟黃金價格昂貴，錢

獲取了外國的模具，如果那真是真正的模具，就一定是

幣幣值也漲價，收藏家們只好暫時停止收藏一陣子。那

據說是一家大公司製造的，我猜漢考克以為是英國東印

要是沒有鑽石，我們早就關門大吉了。

來自於西班牙人或其中一個拉丁美洲國家，而不是英國。

時我是一家錢幣店的合夥人，我們涉足了鑽石和硬幣。

度公司，但那時英國東印度公司早已倒閉了。英國東印度

公司於1834 年停業，因此在1840 年代已不復存在。我猜

CG:

當時是一家在中國經營的外國公司（甚至可能是美國公 司）。但關於1778年的整件事都是虛構故事。

另一封來自吉姆•謝雷爾的電子郵件，他想知道戳記的 時間線。根據吉姆的觀察，與早期或晚期相比，1820 年 左右的戳記似乎更小了。您認為這種戳記或這個年份有什 麼特殊意義嗎？

CG:

BS:

另一封來自你認識的霍華德• 丹尼爾的電子郵件，他並

沒有具體問題，但他想說的是如今高價的中國物品⸺

我不知道。有人推測大戳記和小戳記用處不同。有人認

市場存在泡沫現象嗎？

從沒這麼容易。我的猜測是我們想弄清楚這一切的唯一

硬幣、郵票、紙幣、藝術品等。您認為現今中國收藏品

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方法，首先是根據硬幣的年份整理出一份關於戳記的大

型數據庫。當把這些都攤在陽光下，就能開始看到一些 排列組合的出現，例如哪組戳記通常出現在早期的硬幣 上。如果按國家區分開來，可能還會發現另一種排列組

合，例如，法屬印度支那的皮亞斯特。如果是在越南進 行戳記，我們只能在法屬印度支那硬幣上發現某些出戳

記，那麼也許我們可以得出這些戳記是在越南進行的結

戳記幣藏家俱樂部標籤

論。但是我們需要查驗很多枚硬幣、很多年份，才能開 始導出這些結論。

CG: 好的，謝謝你的分享，十分有趣。

BS: 您過獎了。

作者高林與他的《戳記幣簡史》

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A Rare 1/2 DOL Silver Pattern by the Austrian Mint to be Auctioned by Künker on March 23rd ◎ Champion〔Shanghai 〕

A Rare 1/2 DOL Silver Pattern by the Austrian Mint will be

In almost all previous records, including many studies by

auctioned by Künker on March 23rd.

great Chinese coin collectors A.M. Tracy Woodward and Eduard Kann, it is stated that the dies of the 1910 series

In early February 2022, Ulrich Künker, the executive

were made by the Tianjin Mint and engraved by Italian

director of Künker Auction, sent a photograph of a 1910

engraver L. Giorgi. However, Giuseppe Ros, a counsellor

1/2 DOL pattern to Michael Chou, the CEO of Champion

at the Italian Consulate General in Shanghai, pointed out

Auction. Af ter rec eiving the photo, Michael Chou

that this series of silver coins were made in Italy in his

suggested sending the coin to NGC for grading. This

Coins of the Republic of China in early 1917 (the 6th year

plain-edge coin from the Vienna Mint was finally graded

of the Republic of China).

NGC PR64★ CAMEO and will be auctioned by Künker on In the early 1980s, British numismatist Richard Wright

March 23rd.

investigated the matter, and Dr. Karl Schulz of the Kunsthistorisches Museum, Vienna confirmed that the dies for this series were engraved at the Vienna Mint, where the tools used to make the dies are still kept in the mint. The engravers were Rudolf Neuberger, Adolf Hofmann and Josef Prinze. Denominations for this series include one dollar, 1/2 dollar, 1/4 dollar and 1/10 dollar. This was the only series using fractional numbers as denominations, and the 1/4 dollar in this series is the only Chinese coinage in this denomination. It is said that due to the lack of silver in the treasury, only a limited number of 1910 coins were made, but the series was not put into circulation. The 1/2 DOL coins are more numerous than coins of other denominations. According to Eduard Kann, as many as 1.4 million 1/4 DOL coins were made in 1910, but even if they were made, they were melted later, and it is difficult to estimate the number of existing coins. Champion auctioned a 1910 1/4 DOL pattern, NGC MS67,

1910 1/2 DOL Silver Pattern NGC PR64 ★ CAMEO, Vienna Mint, plain edge, 13.4 grams

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for $33,040 in August 2016; A 1/2 dollar in PCGS MS64 was auctioned by Hosane in July 2020 for RMB 517,500.

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1910 Silver Dollar Silver Pattern, NGC MS64, Proof, Bowker Collection

1910 1/10 DOL Nickel Pattern NGC MS63, Goodman/Nelson Chang collection

1910 1/4 DOL Silver Pattern NGC SP65, Proof, Chinese Family Collection

1910 1/4 DOL Silver Pattern NGC MS64, Nelson Chang Collection

A set of 1910 uniface lead patterns made by the Vienna Mint

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1911 Silver Dollar Pattern with L. Giorgi Signature PCGS SP63, W.L. Collection

There is a complete set of uniface lead 1910 patterns from

auction, C.S. Wong, the Honorar y President of the

the Eduard Kann Collection with an original display box.

Macau Numismatic Society. Out of trust in NGC's grading

This set of patterns went to an important Southeast Asian

standards, Champion Auction and C.S. Wong had not

collector probably via Chang Huang in Hong Kong in the

even seen the coin in person until it arrived at the NGC

late 1970s, but the original box is no longer available.

Hong Kong office from Germany.

Champion auctioned this set in December 2010. This set of lead pattern coins is included in the third edition of Top

Since 2016, Künker has also been a partner of Champion

Chinese Coins , and Ulrich Künker is both a member of the

in the distribution of panda medals at the World Money

Advisory Board and the European distributor of this book.

Fair, Berlin. The 2016 World Money Fair Panda Medal was one of the most popular show panda medals among

In 2011, Champion bought a 1911 Silver Dollar with L.

collectors, and it is designed by Yu Min, the winner of the

Giorgi Signature from Künker. Since then, Champion has

Coin of the Year Award Lifetime Achievement Award.

maintained a friendly relationship with Künker and has been an important partner.

The panda medal for the 2022 World Money Fair, Berlin will be available at the Künker online booth on February

In 2012, Champion CEO Michael Chou bought the Otto

28. This is the first time that the enamel process has been

Beh German Chinese coin dies directly from the Otto Beh

applied to the World Money Fair Panda Medal. It is worth

Family with the help of Fritz Rudolf Künker and Ulrich

mentioning that the 2021 World Money Fair Show Panda

Künker. Michael Chou promised to donate the coins to the

Medal was sold out one hour after its issue at the Künker

museum so these dies were withdrawn from the Künker

Online booth. The official price of the medal was 89 euros,

Auction.

and now its price exceeds 250 euros on the secondary market.

In the summer of 2020, a very rare error variety of 1996 Unicorn 1kg 150 Yuan Gold Coin was traded through

Champion will continue to work with Künker to promote

the joint efforts of Champion and Künker. This gold coin,

the international numismatic industry and bridge the

from a guest of Künker Auction, was made with a die

Eastern and Western numismatic markets. We also expect

with a denomination of 150 yuan rather than the correct

that the Otto Beh dies for Chinese coins and the Otto Beh

denomination of 1,500 yuan, and only 18 error variety

Chinese patterns from the Howard Bowker Collection

coins were made. The coin was sent to the NGC Sarasota

will be on permanent display at the Moritzburg Museum,

office for grading and was graded NGC PF69, the highest

Germany, by 2024, with the help of Künker Auctions.

score known, and later sold to the guest of the Champion

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Books prepared for the coin exhibition

DEPARTMENTS

From left: Michael Chou, Deming Shi, Ulrich Künker

The Chinese variety of the Sino-German Friendship Medal designed by Yu Min

The German variety of the Sino-German Friendship Medal designed by Heinz Hoyer

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1996 Unicorn 1 kg Gold Coin with an error denomination of 150 yuan, NGC PF69t

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奧地利造幣廠制珍稀樣幣

―1910 年年宣統年造大清銀幣伍角亮相德國昆克 3 月 23 日拍賣 ◎ 冠軍研究室〔上海〕

在包括中國機製幣大師伍德華（A.M. Tracy Woodward）與

奧地利造幣廠制珍稀樣幣亮相德國昆克3月23日拍賣。

耿愛德（Eduard Kann）的許多研究文獻在內的幾乎所有過 2022年2月初，德國昆克拍賣的執行董事烏爾裏奇 · 昆克先

往記載中，都注明1910年版銘文“宣統年造”系列幣模由天

生（Ulrich Kunker）發來了一枚1910年宣統年造大清銀幣伍

津造幣制造，由意籍雕刻師 L. Giorgi 雕刻。曾任職上海意

角的照片。冠軍拍賣總裁周邁可先生在收到照片後，建議其

大利總領事館參贊的羅斯（Ros Giuseppe）在1917年（民國

將這枚銀幣送至 NGC 進行評級。這枚出自維也納造幣廠的

六年）初撰寫《中華民國錢幣》（Coins of the Republic of

光邊銀幣最終經評 NGC PR64★ CAMEO，並亮相於德國

China）中指出，此系列銀幣幣模製於意大利。

昆克3月23日拍賣會。 1980年 代 初， 英 國 錢 幣 學 家 李 查 偉 德（Richard Wright） 深 入 追 查， 經 維 也 納 藝 術 史 博 物 館（Kunsthistorisches Museum）的舒茲博士（Dr. Karl Schulz）證實，此系列幣 模確在維也納造幣廠刻成，製作模具的工具現保存於該館。 負責雕刻的技師分別是紐伯格（Rudolf Neuberger）、霍夫曼 （Adolf Hofmann）以及普林茲（Josef Prinze）。 這套銀幣的面額有壹圓、伍角、貳角伍分以及壹角銀幣四種， 是中國唯一一套使用1/2 Dol、1/4 Dol 和1/10 Dol 紀值的錢 幣。其中1/4 Dol（貳角伍分銀幣）是唯一採取此面值的中國 銀幣。

據說因庫銀缺乏，所以1910年宣統年造大清銀幣數額有限， 並未流通，僅伍角較多見。據耿愛德統計，貳角伍分曾於 1910年製成140萬枚之多，但即便製成也遭到了回爐重製， 存世量難以判斷。 冠軍拍賣在2016年8月以33 040美 元的價格 拍出一枚1910 年宣統年造大清銀幣伍角，經評 NGC MS67 ；泓盛拍賣在 2020年7月以517 500元人民幣的價格拍出一枚1910年宣統 年造大清銀幣伍角，經評 PCGS MS64。

1910 年宣統年造大清銀幣伍角銀質樣幣 NGC PR64 ★ CAMEO

這種宣統年造錢幣存在一套完整的單面鉛質套幣，且原本配

維也納造幣廠製造，光邊，重 13.4 克

有一個展示盒，曾為耿愛德收藏。這套錢幣出自一位重要的

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1910 年宣統年造大清銀幣壹圓銀質樣幣

1910 年宣統年造大清銀幣壹角鎳質樣幣

NGC MS64，鏡面，包克收藏

NGC MS63，古德曼 / 張南琛收藏

1910 年宣統年造大清銀幣貳角伍分銀質樣幣

1910 年宣統年造大清銀幣貳角伍分銀質樣幣

NGC SP65，鏡面，華人家族收藏

NGC MS64，張南琛收藏

1910 年宣統年造大清銀幣鉛質單面樣幣一套 維也納造幣廠製造

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1911 年宣統三年大清銀幣壹圓銀質樣幣 Giorgi 簽字版，PCGS SP63，W.L. 收藏

東南亞收藏家，可能是其在20世紀70年代後期從中國香港

易。這枚金幣來自昆克拍賣的客人，它採用了紀值150元的

的張璜處購得，但當時已經沒有原裝展示盒了。冠軍拍賣在

幣模製造，而非正確的面額1 500元，僅製造了18枚。該幣

2010年12月將這套樣幣拍出。該套鉛質樣幣收錄於《中國近

被送至 NGC 的薩拉索塔總辦公室評級，經評 NGC PF69，

代機製幣精品鑒賞 第三版》。而烏爾裏奇 ·昆克先生既是《中

是已知的最高分，後出售給冠軍拍賣的客人⸺ 澳門錢幣學

國近代機製幣精品鑒賞 第三版》顧問委員會的成員，也是

會名譽會長黃志成先生。出於對 NGC 評級標準的信任，冠

該書的歐洲分銷商。

軍拍賣和黃志成先生在該幣從德國運抵 NGC 香港辦公室前 甚至從未親眼看過這枚幣。

2011年，冠軍拍賣從昆克拍賣處買下了一枚 L. Giorgi 簽字版 1911年宣三大清銀幣壹圓。自此，冠軍拍賣一直以來都與昆

自2016年以來，昆克拍賣也成為了冠軍拍賣在柏林世界錢幣

克拍賣保持了友好的交往，並且是重要的合作夥伴。

博覽會展會熊貓紀念章發行方面的合作夥伴。2016年的柏 林世界錢幣博覽會展會熊貓紀念章是最受藏家喜愛的展會熊

2012年，冠軍拍賣總裁周邁可先生在弗裏茨 · 魯道夫 · 昆克

貓紀念章之一，由世界硬幣大獎賽終身成就獎得主余敏先生

先生（Fritz Rudolf Kunker）和烏爾裏希·昆克先生的幫助下，

設計。

直接從奧托 · 拜赫家族處買下了奧托 · 拜赫德製中國幣模， 使得這些幣模從昆克拍賣會上撤拍，周邁可先生承諾將會把

2022年柏林世界錢幣博覽會展會熊貓紀念章已於2月28日在

這些幣模捐贈至博物館。

昆克線上展位發售。這是首次將琺瑯彩工藝運用於柏林世界 錢幣博覽會展會熊貓紀念章上。值得一提的是，2021年的

2015年，冠軍拍賣將奧托 · 拜赫中國樣幣幣模捐贈至德國莫

柏林世界錢幣博覽會展會熊貓紀念章曾在昆克線上展位發售

裏茨堡博物館 ；2016年，冠軍拍賣在莫裏茨堡博物館舉行

一小時後售罄。該章官方發售價格為89歐元，現在在二手

中國錢幣展 ；2017年，冠軍拍賣舉行了中德友好熊貓紀念章

市場上的價格已經超過了250歐元。

首打儀式，中國駐德國大使史德明先生與德國外交部亞洲地 區總管及大使李德仁博士（Norbert Riedel）參與了此次活

冠軍拍賣將與昆克公司繼續攜手促進國際錢幣行業發展，溝

動。這些活動的成功舉辦都離不開昆克拍賣的支持。

通東西方錢幣市場。我們也期待到2024年時，在昆克拍賣 的幫助下，奧托 · 拜赫德製中國幣模以及出自霍華德 · 包克

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2020年夏天，一枚非常珍罕的1996年吉祥物麒麟1公斤150

收藏的奧托 · 拜赫德製中國樣幣可以在德國哈裏的莫裏茨堡

元錯版金幣在冠軍拍賣和昆克拍賣的共同努力下完成了交

博物館永久陳列。

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為德國中國幣展準備的相關介紹書籍

DEPARTMENTS

左起：周邁可、史德明、烏爾裏希·昆克

余敏設計的中國版中德友好紀念章

Hoyer 設計的德國版中德友好紀念章 1996 年吉祥物麒麟 1 公斤 150 元

Hoyer 設計的德國版中德友好紀念章

錯版金幣，NGC PF69

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A Study Of The Money Minted In The Zhetysu Of Central Asia In The Eighth And Ninth Centuries By Qarluks ◎ Zhou Yanling〔Shanghai〕

In the eighth and ninth centuries, the circular coin with a

The Zhetysu is named after the seven rivers flowing into

square hole of Chinese shape minted in the Zhetysu [ 七

Озеро Балхаш [ 巴 爾 喀 什 湖 ], referring to the surrounding

河 地 區 ] of Central Asia are considered to be minted by

area west of the tien shan [ 天山 ], south of Озеро Балхаш ,

Qarluks [ 葛邏祿 ], with the exception of the tu qi shi [ 突騎

north of the Syr Darya [ 錫爾河 ], and east of transoxiana

施 ] coins. In this paper, we are going to discuss the history

[ 中亞河中地區 ], centered on Issyk-Kul Lake [ 伊塞克湖 ]

of the Zhetysu region and the minting of money after the

and the Chu River. Historically, the Zhetysu was the most

establishment of the Qara-hakanid hakanate, and please

closely connected area between Central Asia and the

correct any mistakes.

Chinese interior. From the seventh century to the middle

Note： 1 Sun, Haitao,Yang, Zhigang: Explanation of the square-hole minted coins in Sogdiana character, Xinjiang Numismatics , No. 4, 2011, pp. 1-3. 2, 9, 10 Lang Rui, A Brief Discussion of the Arslani Coins of the Qarluks State, Chinese Numismatics , July 2018, pp. 50-51.

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of the eighth century, the Zhetysu was ruled by the Tang

surnames all set up hakan to attack each other, so China

Western vassal state of tu qi shi .

was too difficult to rule....... After the 766-779, Qarluks was prosperous, living in the sui ye chuan [ 碎葉川 ], the

Ge luo lu [ 葛 邏 祿 ], Qarluks or Karluks in the Orkhon

two surnames wei, to serve in Qarluks." In 789,Qarluks

Turkic inscriptions, was a nomadic Turkic tribe in Central

in the area of northern court, and tu bo [ 吐

Asia in the sixth and thirteenth centuries. The word Qarluks

with the army, defeated the hui hu [ 回 鶻 ] and became

was originally a nickname for the Yabaku tribe of the chi

independent from it. After that, hui hu began to march

si [ 熾俟 ] group, and only after the tribe became the head

into the western region and defeated the allied forces of

of the whole tribal group did Qarluks become the name of

Qarluks and tu bo [ 吐蕃 ] in the area of bei ting [ 北庭 ],

the whole tribal group. In Tabari's History of the Prophets

qiu ci [ 龜茲 ] and βrγ'nk [ 拔汗那 ] (present-day Fergana,

and Emperors, it is recorded that in 737, Qarluks ye hu [ 葉

Uzbekistan). In 840 , the hui hu's commander (general) ju

護 ] came from the Yabaku tribe of the chi si tribe. In the

lu mo he [ 句祿莫賀 ] , in collaboration with the Qïrqïz [ 黠

academic circles, there are broad and narrow definitions

戛斯 ], attacked the hui hu with 100,000 horsemen.

蕃 ] allied

of Qarluks in the historical texts. In the Chinese historical materials, the earliest Qarluks is found in the sui shu [ 隋書 ],

The question of when and by whom the Qara hakanid was

volume 84, Tiele biography [ 鐵 勒 傳 ]: "Iwu to the west,

founded has been the subject of numerous writings. The

Yanqi to the north, near the White Mountains, then there

German historian Omeljam Pritsak summarized seven

are qi bi [ 契弊 ], bao luo [ 薄落 ], zhi yi [ 職乙 ] ,die su [ 咥蘇 ],

theories in the last century and proposed the theory that

po na he [ 婆那曷 ], wu huan [ 烏讙 ], he gu [ 紇骨 ], ye die [ 也

the Qara hakanid was founded by the Turkic Ashina hakan

咥 ], yu ni hua n [ 於尼讙 ], etc., the victory can be 20,000

tribe. This theory is accepted by Western scholars because

soldiers." Among them, "bao luo and zhi yi" are the two

of the detailed historical data and arguments. According

parts of the three surnames of Qarluks surname mou luo

to the analysis of the existing Chinese and local historical

[ 謀落 ] (mou la [ 謀剌 ]) and chi si (po fu [ 婆匐 ]); the other

materials in Central Asia, there is another view that the

part of the name: ta shi li [ 踏實力 ]. Domestic literature is

Qïnïq tribe of the hui hu Oghuz tribe was founded in the

often referred to as the three surnames of the Qarluks. The

1920s of the ninth century. In recent years, domestic

chief is called ye hu [ 葉護 ], and also na le [ 納勒 ], so also

scholars have synthesized foreign studies and Chinese

called three surnames ye hu. Qarluks was first nomadic in

historical materials and concluded that the Karahakan

the upper reaches of the Irtysh River and the western side

Dynasty was founded by the hui hu Pang Teqin [ 龐特勤 ].

of the Altai Mountains, located in the western part of the

In 840, after the civil unrest of the hui hu and the killing

jurisdiction of the Anbei Protectorate [ 安 北 都 護 府 ] of the

of the hakan, the main group led by Pang Teqin went

Tang Dynasty.

west to Qarluks, fought with Qarluks ye hu, and finally subdued Qarluks and established a new dynasty of hui

Qarluks originally affiliated with hui hu [ 回鶻 ], after 766,

hu here, which was called the Qara hakanid. After the hui

Qarluks gradually replaced tu qi shi and moved south

hu occupied the Zhetysu, Qarluks was divided into three

to take possession of the Zhetysu. History says: "After

branches: one moved east to Aksu area; another moved

756-758, the tu qi shi declined, and the Yellow and Black

south to Tochari; the remaining one stayed in the same

Note：

3 Tabari, Tarikh Rusul Wa Muluk , (Tabari, 838 ～ 923), Famous Islamic Ilm al-Qur'an wa al-Tafsir [ 經注學家 ], hadithologist, jurist and historian. 4 There are narrow and broad definitions in the academic community of the Qarluks tribe. This is because in Central Asia, in addition to the Turkic-speaking tribes belonging to the Mongolian race, there are also Indo-European ethnic groups. As well as Turkic-speaking tribes with a mixed Indo-European component due to intermarriage and cultural exchange.For example, in the broad sense of the three surnames of Qarluks in the chi si, some articles believe that it includes the kind of tribes of the mill to the hephthalite [ 嚈噠 ], capricorn [ 羯 ], ba xi mi[ 拔悉密 ], chu mi [ 處密 ], tong luo [ 同羅 ] , Sogdiana, kan qie ke [ 坎切克 ] and so on.It is evident that Qarluks was not a tribe, but a tribal group. 5 (Song )Song Qi, etc.: The New Book of Tang Under the biography of the Turkic people, the biography of Qarluks is attached. Huihe [ 回紇 ]: The former name of huihe [ 回鶻 ], since 788, the name of huih e[ 回紇 ] has been changed to huihe[ 回鶻 ]. China Book Bureau, 2000 edition. 6 O.pritsak：Die Karachanidem.Der Islam,Vol. 31, No. 1, Berlin, 1953. O.pritsak,：Von den Karluk zn den Karachaniden,Zeitschrift der Deutschen Morgenlandischen Gesellschsft Vol. 101, Wiesbaden, 1951. 7 Li Shuhui, The Founders of the Karakhan Dynasty and the Time of its Establishment, Western Studies , No. 4, 2004, pp. 47-50. 8 Li Tiesheng, ed., Ancient Central Asian Coins (Pre-Islamic Dynasties) , Beijing Publishing House, first edition, October 2008, p. 331. 11 Qian Daxin: shi jia zhai yang xin lu [ 十駕齋養新錄 ], vol. 6, te qin dang cong zhu ke , Shanghai Bookstore, 1983, photocopied from the 1937 reprint of the Commercial Press.

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place. The whole area north and south of the Tien Shan had been completely placed under the control of the hui hu. From the above account, it can be inferred that the three surnames of Qarluks actually ruled the Zhetysu for Fig. 1

more than fifty years between 789 and 840. Therefore, the question of whether all the coins minted after the replacement of the tu qi shi in the middle of the eighth century were minted by the three surnames of Qarluks should be re-examined and analyzed.

Fig. 2

There are two coins whose inscriptions have been read as "Qarluks hakan". One is the coin in Figure 9-105 on page 331 of Ancient Central Asian Coins (Pre-Islamic Dynasties)

that can be found in connection with Qarluks is the leader

(Fig. 1), which has the Gurek in the script on the obverse

of the shatu o[ 處 月 部 落 ] who was called "Arslan qara

and the Samarkand three-tailed pattern clan crest on

hakan", but his reign was much later.These two coins,

the reverse. From the analysis of the inscription and the

which are attested to be minted by Qarluks, do not support

clan emblem, it is not a Qarluks coin, but a coin minted

this conclusion from the above analysis.

by the Gurek kings in the region of Sogdiana from 710738.Another coin with the inscription translated as "the

Some researchers have divided the Qarluks coins into

money of the sacred hakan of Qarluks" (Fig. 2) has the

three categories, namely: Arslan Que. Tehler coins, Arslan

inscription "βγy xr' lwγ x'γ'n pny" in the Sumerian language

double emblem coins and Arslan. Vijay hakan coins.

with "xr' lwγ " in "βγy xr' lwγ x'γ'n pny" in the Suet language is translated into Qarluks, i.e., Qarluks. It has also been

The above classification requires correct interpretation of

suggested that the medieval pronunciation of "Qarluks"

the meaning of the inscriptions. In the Old and New Books

was kat la luk, because the -t at the end of the rhyme

of Tang , besides "Ashina" and "Ashid", it is also recorded

is often the form of-l in the northwest region, therefore,

that the Khitan chiefs had the surname "Asmu "in the

"Qarluks" may be such a pronunciation as kalaluk. The

Tang Book and the New Tang Book . In the Altaic surname,

word "xr' lwγ" in the coin script, because the Sukot script is

"Ashi" or "Asi" is a fixed root word. This root is found in the

basically a consonant factor letter, and some of the vowels

Turkic languages Aeslan and Arslan, the title of the hakan

are not written out, this word is transcribed in English:

of the Gaochang hui hu and the Qara hakanid, meaning

kar(a)lukh, which is probably the western pronunciation of

lion. The transliteration is "Arslan", "Aslan", "Asaran",

kalaluk, so it is "Qarluks" These arguments focus on the

"Arslan", etc.

possibility that the money was minted by Qarluks in terms

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of the pronunciation of the Sogdiana characters, I do not

It was a Turkic official name, which could be granted to

deny that the transcription of the word or the addition of

the descendants and clans of the hakan, but when it came

vowel letters would produce a pronunciation similar to that

to the Kara hakan dynasty, the meaning of the word was

of "Qarluks", and that even the Chinese word "Qarluks"

narrowed down to "the son of the hakan". The misuse of

is not necessarily the best translation of the Sogdiana

te qin as "te le" began in the Old and New Books of Tang .

word, but this "may" or "probably" does not determine

The New Book of Tang -Turkic Biography : "hakan, as in the

its characterization, but is only an inference.From the

ancient Shan Yu, his sons are called te le." Sima Guang

historical records, we can see that the three surnames of

in the "tong jian kao y i" [ 通鑒考異 ] volume 7 "Turkic sons

the chiefs of "Qarluks" are never recorded as "hakan" in

called the te le" article note said: "the books or as te qin."

the historical records, the leader is "ye hu".The only one

At the end of the nineteenth century, Russian scholars in

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Mongolia Kul Tigin Monunent [ 呼舒柴達木湖畔 ] found in

The Tang Dynasty was defeated in 751 by the Qarluks,

the Tang Emperor Xuanzong during the kai yuan period [ 開

and four years later by the An-Shi Rebellion. After the

元年間 ] of the Kul Tigin Monunent, the stone inscription in

establishment of the Abbasid dynasty in 750, the Arabian

Chinese is clearly inscribed as "te qin". Qian Daxin thought

Empire was ruled by the Shia revolts led by Sherik, the

that the stone carving text for this record has a higher

Persian revolts led by Sinbad, the White Banner revolts led

historical value, should be based on the book of history to

by Baraz, the "White Men" revolts led by Mukanna, and the

book the wrong load, "I said that the country's language,

revolts led by Rafi Ibn Lais in Central Asia, etc. Thus, from

expatriates rarely understand its meaning, the history of

the middle of the eighth century to the beginning of the

the transcription, or lost its true. But the bamboo engraving

ninth century, neither the Tang nor Arabia had time to take

is from the later authentic, in addition to the qie bi bei [《契

care of the affairs of the western region. The withdrawal of

苾碑》] Prime Minister Lou Shide [ 婁師德 ] written, public

the Tang dynasty and the disintegration of the Arab empire

right also by the edict of the book, there is no error. When

led to a war for control between the hui hu, the Qarluks

according to the stele to set the history of the error, not

and the tu bo in the western region, which ended with the

lightly assess also." In addition, it is not pronounced "le"

hui hu controlling the north and south of the Tien Shan.

in the transliteration of the Turkic language. The word "te le" is a mistake of "te qin", which has been studied and

Zhetysu used to be the tie-up province of Tang, and the

revised by previous people.

commodity economy was greatly influenced by Tang Dynasty. In this period, square hole round coins in the form

The term "hakan" refers to the independent ruler of a tribe

of Tang are still being cast and used in Zhetysu. However,

or nation. By the time of the Karahakanid dynasty, the term

compared with the early tu qi shi coins, the coins are

was expanded to include royal sons and vice-presidents."

roughly made, the characters are unclear and the sizes

In the eighth and ninth centuries, most of the ancient

are different. Even after the destruction of the tu qi shi

Altaic-speaking Central Asian states had a "double King

and the affiliation of the tu qi shi Black and Yellow tribes

system" as their dynasties. For example, the hakanate of

to Qarluks, the coins minted in the Zhetysu still had the tu

the Karahakan Dynasty was divided into two parts, with

qi shi emblem in the shape of a curved moon. The coins

the elder and younger branches of the hakanate ruling, the

of this period have Turkic script on them. Since the multi-

elder branch being the Great hakan called Arslan hakan,

ethnic coexistence of the Zhetysu existed for a long time,

and the younger branch being the Deputy hakan, called

and since the first half of the sixth century, and since it

Bogra hakan. Under them there are Ilk (King) and te qin of

was under the rule of the Turkic Khanate and the hui hu

a lower level, under the Great hakan are Arslan Ilk, Arslan

Khanate for a long time, it is possible that the tribes used

te qin；Under the Deputy hakan is Bogra Ilk, Bogra te qin.

or switched to the Turkic language.

The title of "ye hu", the chief of the Qarluks, was "a title given to a person of commoner origin who was two ranks

The history of Kashgar by the eleventh century Arab

below the hakan".

writer Abullah Ghafir has been lost and the only surviving fragment of the book in other Muslim historical sources

The coins minted in the Zhetysu in the early eighth century.

states that the first Khan of the Kara dynasty was Vijayqa.

It is a coin made by the tu qi shi, imitating the kai yuan

Kadir Khan. There is also a record of Pang Teqin "calling

tong bao [ 開元通寶 ] of the Tang Dynasty, and then minting

himself Khan" in Chinese historical sources. It must be

its own coins in Sogdiana currency, Sogdiana &Turkut

dated at the end of the eighth century or the beginning

bilingual, adding the tu qi shi emblem (or city emblem) as

of the ninth century after the entry of the hui hu into the

a custom.

Zhetysu .After the death of Vija Que Kadir Khan, the

12 (Song) Sima Guang: Comprehensive Mirror for Aid in Government, Volume 248, (Tang Chronicle 64), article of the first month of Koshi: its other Pang Le (Qin), first in Anxi, also called himself Khan, living in Ganzhou, the total moraine west of the cities.Shanghai Ancient Books Publishing House, 1994 edition.

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kingship was continued by his eldest son, Bazil Kadir,

sale of goods trading within the territory. Therefore, very

with the title of "Kadir". Kadir continued with the title of

few circular coin with a square hole of the Zhetysu were

"Arslan Khan". He was named "Arslan Khara Khan" and

found outside the country, and the inflow of coins from

was stationed in Balashagun. Later, Barashagon was

outside the country was dominated by a very small amount

captured by the Samanid Dynasty and Bazïr Qadïr was

of coins from the Tang Dynasty and the Sogdiana region.

killed. The second son, Ogulechak Kadir, continued his

The study of the coins of the Zhetysu is still to be further

khanate. Khadir continued his khanate and was called

explored because of the scarcity of historical records in

"Bogra Khan". He was called "Bogra Khara Khan" and

Chinese and neighboring regions, the inconsistency of the

was stationed in Tantalus. It can be inferred from this

coins in the translation of inscriptions and texts, and the

that the coins with "Arslan Khan" inscription, which is a

preponderance of many testimonial speculations.

double-worded coin of Turkic origin, are early coins of the Karakhan Dynasty. The coin with the text "Arslan te qin" is

My understanding is summarized as follows: The coins

a local coin of the Zhetysu under the Kara Khan Dynasty.

minted in the Zhetysu in the eighth and ninth centuries have the form and markings of the tu qi shi coins. The two

The Zhetysu is geographically separated from Xinjiang,

coins that are now examined as Qarluks are misidentified

Fergana Valley, and the middle of the river by mountains

from the analysis of inscriptions. The period of the rule of

and ge bi [ 戈壁 ], and in the 8th and 9th centuries the east

Qarluks in the Zhetysu was more than fifty years from the

and west sides were bordered by the tu bo and Arabian

latter part of the eighth century to the beginning of the ninth

empire ruling regions. The language and writing of each

century. The bronze square-hole round coins of the eighth

region and the shape of currency are different, therefore,

and ninth centuries in the Zhetysu can be divided into the

the role of self-cast coins in the Zhetysu in the circulation

following four categories in terms of the approximate date

of foreign trade is impossible, and can only be used in the

of minting and the shape of the inscriptions.

Fig. 3

Fig. 4

Fig. 5

Fig. 6

Fig. 7

Fig. 8

Fig. 9

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In the early to mid eighth century, the coins were minted by the Turkic khanate in Chinese or Turkic languages. The early period is imitating the kai

The coins of the Zhetysu in the middle and late

yuan tong bao [ 開元通寶 ] coin; after that, the coins

eighth century are irregular in shape and rough in

with the back curved moon pattern are cast by

production. The coin inscriptions have the Turkic

themselves, and these coins are of regular shape

language of Sogdiana and still have the emblem of

and well made; (Fig. 3) As the territory of the

the tu qi shi tribe; (Figure 2) among them, coins with

Turkestan expands to the east and the Turkic tribes

the emblem of the ten tribes are found; for example,

join, the Turkic language appears on the coins,

the coin inscription "Lord of Togus" in Figure 5, and

i.e., the Turkic double coins or the Turkic triple

the trident emblem of the ten Khan's tribe of Ashna.

coins of the Turkic Chinese characters. Figure 4

It is presumed that these coins were the coins cast

has the Chinese "yuan" of "wahsutaf king money",

by the local lords when Qarluks ruled the Zhetysu.

presumably after the death of Sulu khan, the Turkic tribes cast money after the dispute between the two surnames of yellow and black.

the coins minted in the Zhetysu from the late

1

2

3

4

Late ninth century, with "Arslan" on the

eighth century to the mid-ninth century are in the

inscription and a negative emblem on the reverse

Sogdiana language, with the tu qi shi emblem and

(Figure 8). Minted by the Karakhan Dynasty. This

Sogdiana letters on the back, slightly better made,

is a rare coin, which shows that the square-hole

and larger in size. The coin has the inscription

round-shaped imitation Tang coins are gradually

"Arslan", which means that it was minted by the

withdrawn from circulation.

early Karakhan Dynasty (Fig. 6 and 7).

The first category of the above classification is the coins

standard for coins in terms of inscriptions, family emblems

of the tu qi shi, which is already known to everyone

and forms.Qarluks did not occupy the Zhetysu for long.

and needs no further explanation. The coins with the

It is unlikely that the currency used before was instantly

inscriptions "Arslan Khan" and "Arslan Teqin" are the coins

withdrawn from circulation, and it should have been

of the Karakhan dynasty, because the chiefs of Qarluks

inherited from this phenomenon. It is entirely possible that

never had this title, and they have been described as the

the local lords minted their own coins with the approval of

coins of the Karakhan dynasty. Therefore, the second of

the ruler of Qarluks, and the presence of the symbols of

the four types of coins is inferred to be the coins minted

Sogdiana character, Turkic and Western Turkic emblems

during the time when Qarluks ruled the Zhetysu. In the

on the coins was also for the convenience of circulation

beginning of the Tang Dynasty, the Qarluks tribe was

and use due to the multi-ethnic composition of the region.

under the command of the Yanran capital under the Anbei

Therefore, the conclusion of the coins minted by Qarluks,

capital, which is a nomadic people, and there is no record

in this period is that the coin inscriptions do not show the

of the use of coins and the discovery of coins. Later on,

title "yehu, yi na le", and the coin inscriptions and emblems

they went south to occupy the Zhetysu and submitted to

found vary, so that Qarluks, who ruled the Zhetysu, did not

the tu qi shi and Western Turkestan tribes, which were

issue a unified currency that could circulate throughout the

under the jurisdiction of Western Turkestan and tu qi shi

Zhetysu. Instead, the local lords under his jurisdiction were

and were located in the middle of the Silk Road, and their

allowed to mint their own currency to participate in the

commodity economy was much more developed than that

circulation.

of the northern and southern areas of the Altai Mountains where the Qarluks nomads lived. Since the decay and

The Arabic coins of the Qara Khanid (Figure 9), which

disintegration of the Turkic tribes in the Zhetysu, the two

were minted in the tenth century after the Islamization of

surnames of Yellow and Black minted their own coin after

the Zhetysu, are beyond the scope of this paper.

establishing themselves as khan, and there was no unified

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8世紀至9世紀中亞七河地區葛邏祿鑄錢考 ◎ 周延齡〔上海〕

8世紀至9世紀中亞七河地區鑄造的中國形制方孔圓錢，除

塞克湖及楚河為中心的周邊地區。歷史上七河地區是中亞

這一時期七河地區的歷史和喀喇汗王朝建立後的鑄錢等問

唐西域屬國突騎施統治七河地區。

突騎施錢幣外，其餘被認為是葛邏祿鑄造的。 這些關係到

與中國內地聯繫最密切的地區。從 7世紀至8世紀中葉，由

12

題，本文對此進行梳理並作簡要論述。

葛邏祿 , 鄂爾渾突厥碑文作 Qarluks 或 Karluks 。是6世紀

至13世紀中亞的一個突厥遊牧部落。葛邏祿一詞最初是熾

七河地區是以流向巴爾喀什湖的七條河流命名，指天山以

俟集團中雅巴庫部的外號，該部成為整個部落集團的首領

西，巴爾喀什湖以南，錫爾河以北，中亞河中以東，以伊

七河地區地圖

注釋：

1 孫海濤、楊志剛 :《粟特文方孔鑄幣解析》，《新疆錢幣》2011 年第 4 期，第 1―3 頁。 2 郎銳：《淺談葛邏祿國阿爾斯蘭尼幣》，《中國錢幣界》，2018 年 7 月，第 50―51 頁。

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後，葛邏祿才變成整個部落集團的名號。塔巴裏 (Tabari）

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剩下一支留在原地。整個天山南北地區已完全置於回鶻的

《歷代先知和帝王史》中記載，737年時，葛邏祿葉護即出

控制之下。

自熾俟部落的雅巴庫部落。 史籍中的葛邏祿在學術界有廣 3

義、狹義之分。4 在漢文史料中，葛邏祿最早見於《隋書》卷

從以上敘 述裏可以推測，三姓葛邏祿實際統治七河地區，

薄落、職乙、咥蘇、婆那曷、烏讙、紇骨、也咥、於尼讙等，

世紀中葉突騎施被取代之後的錢幣，是否全部為三姓葛邏

是在789 年至840 年之間50多年的時間內。所以七河地區8

八四《鐵勒傳》： “伊吾以西，焉耆之北，傍白山，則有契弊、

祿所鑄的問題，應該重新審視和分析。

勝兵可二萬。 ”其中“薄落、職乙”即是葛邏祿三姓中的謀落

（謀剌）、熾俟（婆匐）兩部 ；另一部名 ：踏實力。國內文獻

中常稱其為三姓葛邏祿。首領號葉護、亦納勒，故又號三

目前錢幣上文字被識讀為“葛邏祿可汗”的錢幣有兩枚。一

面，位於唐朝安北都護府轄區的西部。

錢幣正面為粟特文 Gurek，背有撒馬爾罕三尾花紋族徽，

枚是《古中亞幣（前伊斯蘭王朝）》331頁圖9-105錢（圖1）8，

姓葉護。葛邏祿最早遊牧於額爾齊斯河上游與阿爾泰山西

從 錢文和族 徽分析，它不是葛邏祿 錢幣，而是710-738年

葛邏祿原附屬於回鶻，766年後，葛邏祿逐漸取代突騎施，

粟特地區古雷克王鑄錢。另一枚錢文被轉譯為“神聖的葛

後，突騎施衰，黃、黑二姓皆立可汗相攻，中國方多難，不暇

x' γ 'n pny”中“xr' lw γ”的 轉 譯 成 Qarluks，即 葛邏 祿。

邏祿可汗之錢”的錢幣（圖2）9，將粟特文中“βγ y xr' lw γ

南 下佔有七 河地 區。史載 ： “（ 唐）至德（756年至758年）

另有人提出“葛邏祿”中古時期的讀音為 kat la luk，因為

治也。...... 大曆（766年至779年）後，葛邏祿盛，徒居碎葉

川，二姓微，至臣役於葛（邏）祿。 ” 789 年葛邏祿在北庭一帶，

“葛邏 祿” 在西北 區域 韻 尾的 -t 常常是 -l 的形式，因此，

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可能會是 kalaluk 這類讀音。錢幣文字中的“xr' lw γ”，由

與吐蕃聯軍，戰勝了回鶻，脫離回鶻而獨立。其後，回鶻

於粟特文基本是輔音因素字母，部分母音不寫出來，這個

開始進軍西域，在北庭、龜茲、拔汗那（今烏茲別克斯坦 費爾幹納）一帶敗葛邏祿與吐蕃的聯軍。840 年回鶻渠長

詞 英 文 轉 寫 為 kar(a)lukh， 大 概 就 是 西 域 讀 音 kalaluk，

( 將軍）句祿莫賀勾結黠戛斯，合騎十萬掩襲回鶻城，回鶻

所以就是“葛邏祿”。這些觀點主要從粟特文字的讀音上來

可汗被殺，諸部潰散。

喀喇汗王朝是何時由何人建立的問題，著說眾多。德國史

學家普利查克（Omeljam Pritsak）將20世紀相關研究成

果歸納為七種學說，提出了喀喇汗王朝是突厥阿史那汗族 建立的觀點。由於史料翔實論證比較充分，被西方學術界

所認可。6根據現存漢語及中亞當地史料分析，另有觀點認

圖1 引自李鐵生編著 ： 《古中亞幣（前伊斯蘭王朝）》，北京出版 社2008年10月第1版。

為是回鶻烏古斯部族的克尼柯（Qïnïq）部落於 9世紀 20 年

代所建。7國內學界近年綜合國外研究與漢籍史料，認為喀

喇汗王朝是回鶻龐特勤建立的。即 840 年回鶻內亂、可汗被

殺後，其主要的一支武裝力量在龐特勤率領下西奔葛邏祿， 同葛邏祿葉護發生戰爭，最終降服葛邏祿，在這裏建立了 回鶻新王朝，史稱喀喇汗王朝。回鶻佔領七河地區後，葛

邏祿分為三支 ：一支東遷阿克蘇地區 ；另一支南遷吐火羅 ；

圖2

3 塔巴裏：《歷代先知和帝王史》（《Tarikh Rusul Wa Muluk》），(Tabari，838 ～ 923)，伊斯蘭教著名經注學家、聖訓學家、法學家和史學家。 4 葛邏祿部落學術界有狹義、廣義之分。因為中亞地區除分佈著屬於蒙古人種的突厥語部落外，還分佈有印歐人種群落。以及由於通婚和文化交流而混雜有印歐人種成分的突厥語部落。

如廣義的葛邏祿三姓中的熾俟部落，有文章認為其包括樣磨部族以嚈噠、羯、拔悉密、處密、同羅、粟特、坎切克等。可見，葛邏祿並非是一個部落，而是一個部落集團。 5 （宋）宋祁等：《新唐書 .》突厥傳下附葛邏祿傳。回紇：回鶻前稱，自 788 年起改稱回紇為回鶻。中華書局，2000 年版。 6 O.pritsak：Die Karachanidem.Der Islam, 第 31 卷，第 1 期，柏林，1953 年。 O.pritsak,：Von den Karluk zn den Karachaniden,Zeitschrift der Deutschen Morgenlandischen Gesellschsft 第 101 卷，威斯巴登，1951 年。 7 李樹輝：《喀喇汗王朝的建立者及其建立時間》 ，《西域研究》2004 年第 4 期，第 47―50 頁。 8 李鐵生：《古中亞幣（前伊斯蘭王朝）》，北京出版社，2008 年 10 月第一版，第 331 頁。 9 郎銳：《淺談葛邏祿國阿爾斯蘭尼幣》，《中國錢幣界》，2018 年 7 月，第 50―51 頁。

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分析葛邏祿鑄錢的可能性，我不否認文字經轉寫或增添母

大都是實行“雙王制”。如喀喇汗王朝把汗國分為兩個部分，

也不盡然是粟特文的最佳譯音，然而這種“可能”或“大概”，

支為副可汗，稱博格拉汗。其下有低一級的伊利克（王）和

音字母會生成與“葛邏祿”相近的讀音，甚至漢語“葛邏祿”

由汗族的長幼兩支分治，長支為大可汗，稱阿爾斯蘭汗 ；幼

特勤，大可汗下為阿爾斯蘭伊利克，阿爾斯蘭特勤 ；副可汗

並不能確定它的定性，而只是一種推論。我們從史籍來看，

下為博格拉伊利克，博格拉特勤。而葛邏祿的首領“葉護”

三姓葛邏祿首領在史料中從未有稱“可汗”的記載，其首領

的職銜，是“授予出身平民的比可汗低兩級的人的稱號”。

為“葉護”。能找到與葛邏祿相關的只有處月部落的首領曾 稱“阿爾斯蘭 · 喀喇可汗（Arslan qara Khan）”，但其在位

8世紀初七河地區鑄 行的錢幣，是突 騎施仿唐的“開元 通

年代則要晚許多。這兩枚考證為葛邏祿所鑄的錢幣，從以

寶”，繼而自鑄粟特文錢、粟特與突厥雙文錢，以及粟特文、

上的分析中並不支持這個結論。

突厥文與漢文三種文字錢，加突騎施族徽（或為城徽）作

有研究者將葛邏祿錢幣分為三類 ：阿爾斯蘭 · 闕 · 特勒錢幣、

為一種定制。

阿爾斯蘭雙徽記錢幣、阿爾斯蘭 · 毗伽可汗錢幣。

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唐朝在751年敗績於怛 邏斯，4 年之後又發生“安史之亂”。

對以上分類需要正確解釋錢文的詞義，在《舊唐書》與《新

而 750 年建立了阿拔斯王朝後的阿拉伯帝國，在中亞統治

姓“阿思沒”的。在阿爾泰語姓氏中， “阿史”或“阿思”是

為首的波斯人起義，以巴拉茲為首的白旗起義，以木坎納

“阿史德”外，還記載契丹首領有 唐書》中，除了“阿史那”

區域內先後發生了由舍裏克領導的什葉派起義，以辛巴德

一個固定的詞根。這個詞根出現在突厥語 Aeslan、Arslan

為首的“白衣人”起義，以及以拉飛－伊本－來斯為首的暴

中，為高昌回鶻及喀喇汗王朝可汗的稱號，意為獅子。音譯

動等。因此，8世紀中葉至9世紀初，唐與阿拉伯均無暇顧

“阿廝蘭” “阿薩蘭” “阿兒思蘭”等。 為“阿爾斯蘭”

及西域地區的事務。唐朝勢力的退出與阿拉伯帝國的解體， 使西域地區內的回鶻、葛邏祿與吐蕃之間發生爭奪控制權

特勤是突厥官名，可授予可汗的子孫與宗族，到喀喇汗王

的戰爭，最終以回鶻控制天山南北終止。

朝時，詞義有所縮小，僅指“可汗之子”。將特勤誤作“特 “可汗者，猶古之 勒”，始於兩《唐書》。 《新唐書 · 突厥傳》：

七河地區曾是唐的羈縻州府，商品經濟上受唐朝的影響巨

子弟謂之特勒”條注曰 ： “諸書或作特勤。 ”19世紀末俄國學

但與早期的突騎施錢幣形制規整相比，則製作粗糙，文字

單于，其子弟謂之特勒。 ”司馬光在《通鑒考異》卷七“突厥

大。七河地區這個時期仍在鑄造和使用唐形制的方孔圓錢。

者在蒙古國呼舒柴達木湖畔發現的唐玄宗開元年間的《闕

不清，大小不一。即使在突騎施被滅國，突騎施黑黃等部

特勤碑》，石碑漢文明確書刻為“特勤” 。錢大昕以為，石

落附屬於葛邏祿之後，七河地區鑄行的錢幣上仍有突騎施

雕文字對於此項的記錄實具更高的史料價值，應據以訂野

標誌的彎月形族 徽。這個時期的錢幣上出現了突 厥文字， 由於七河地區多民族長期共存的情況是存在的，自6世紀上

史書的誤載， “予謂本國言語，僑民鮮通其義，史文轉寫，或

半葉開始，又長期處於突厥汗國和回鶻汗國的統治下，諸

者失其真。惟竹刻出於後來真跡，況《契苾碑》丞相婁師德所

部落兼用或轉用突厥語也是可能的。

撰，公權亦奉敕書，斷無訛舛。當據碑訂史之誤，未可輕訾議

“特勒” 也。 ” 另外，從譯寫的突厥語上，它也不發“勒”音。 11

乃“特勤”之誤，前人早已有考據並訂正。

11世紀阿拉伯作家阿布拉 . 伽菲爾著的《喀什噶爾史》已失

“可汗”，指一個部落或民族的獨立統治者。到喀喇汗王朝

朝第一位可汗稱號是毗伽闕 · 喀迪爾汗。在漢文史料中也有

傳，在其他穆斯林史料僅存的該書片段中記載 ：喀喇汗王 龐特勤“自稱可汗”的記載。12其年代也應該在8世紀末或9

時期，它的詞義有所擴大，皇子和副職也可稱“可汗”。在

8世紀至9世紀的屬阿爾泰語系中亞古國中，其王朝的體制

世紀初回鶻進入七河地區後。毗伽 · 闕 · 喀迪爾汗死後，君

9、10 郎锐：《浅谈葛逻禄国阿尔斯兰尼币》，《中国钱币界》，2018 年 7 月，第 50―51 页。 11 钱大昕：《十驾斋养新录》卷六“特勤当从竹刻”条，上海书店 1983 年据商务印书馆 1937 年重印本影印。 12（宋）司马光：《资治通鉴》卷二四八，（唐纪六四），正月甲子条：其别部庞勒（勤），先在安西，亦自称可汗，居甘州，总碛西诸城，种落微弱，时入 献见。上海古籍出版社， 1994 年版。

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權由其長子巴茲爾 · 喀迪爾繼續，稱號為“阿爾斯蘭 · 喀喇

境內商品交易中使用。所以，七河地區方孔圓錢在境外發

喀迪爾被殺。次子奧古勒恰克 . · 喀迪爾繼續汗位，稱“博

幣為主。對七河地區錢幣的研究，由於漢文及鄰近地區的

汗”，駐巴拉沙袞。後巴拉沙袞為薩曼王朝攻陷，巴茲爾 ·

現極少，外地流入的錢幣則以極少量的唐朝和粟特地區錢

格拉 · 喀喇汗”，駐怛邏斯。由此可推斷，錢文有“阿爾斯

史料記載稀缺，錢幣在銘文與文字的譯讀上不一致，許多

蘭汗”的粟特突厥雙文錢幣，可考為喀喇汗王朝早期鑄幣。

考證推測的成分居多，所以，諸多問題還有待進一步探討。

而錢文“阿爾斯蘭特勤”錢幣，則為喀喇汗王朝下七河地 區的地方鑄幣。

現將我的認識綜述如下 ：8世紀至9世紀七河地區鑄錢都帶

七河地區在地理上與新疆、費爾幹納盆地、河中地區隔有

錢文上分析都是誤識。葛邏祿統治七河地區的時間為8世

治區域相接。各地的語言文字，貨幣形制不同，因此，七

青銅方孔圓錢，從大致的鑄行年代與錢文形制上可分為以

有突騎施錢幣的形制與標記 。現考為葛邏祿的兩枚錢幣從

山脈與戈壁，8-9世紀時東西兩側又與吐蕃和阿拉伯帝國統

紀後葉至9世紀初葉 50多年時間。七河地區8世紀至9世紀

河地區自鑄錢幣在異地貿易流通的作用是不可能的，只能在

下四類。

圖3

圖4

8世紀早期至中期，是突騎施汗國鑄的漢文或粟特突

8世紀中後期的七河錢幣，形制不規整，製作較粗糙。

背彎月紋錢幣，這類錢形制規整，製作精好（圖3）；

其中發現鑄有十姓部落族徽的錢幣，如圖5錢文“托

錢文有粟特突厥文，仍有突騎施族徽標誌（見圖2）；

厥文錢幣。早期是仿開元通寶錢 ；其後自鑄粟特文

隨著突騎施地域向東拓展，突厥部落的加入，鑄錢

古斯之主” ，並有阿史那十姓可汗部族的三叉戟徽記。

字三種文字錢。圖4有中文“元”的“瓦赫蘇塔夫王

鑄錢。

上出現了突厥文，即粟特突厥雙文錢或粟特突厥漢

推測這類錢幣就是葛邏祿統治七河地區時地方領主的

錢” ，推測是蘇祿可汗死後突騎施黃黑兩姓相爭後的 部落鑄錢。

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8世紀後期至9世紀中期的七河地區鑄幣，粟特文，背

9世紀後期，錢幣正面有“阿爾斯蘭”文字，背為陰文

。喀喇汗王朝鑄。較為少見，可見方孔圓 徽記（圖8）

有突騎施族徽加上突厥文字母，製作稍好，錢形偏大。

形的仿唐錢幣正在逐漸退出流通領域。

從錢幣有“阿爾斯蘭”文字來分析，應該是早期的喀 。 喇汗王朝鑄行的錢幣（圖6、7）

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圖5

圖6

圖7

圖8

圖9

以上的分類中的第一類為突騎施錢幣，已被大家認識，不須

可能瞬間退出流通，應該是沿襲了這個現象。當地領主在葛

由於葛邏祿的首領從未有此稱號，之前敘述中已將其考為喀

族構成在錢幣上出現粟特文、突厥文與西突厥族徽標誌也是

贅言。而錢文有“阿爾斯蘭可汗” “阿爾斯蘭特勤”的錢幣，

邏祿統治者首肯下自鑄錢幣是完全可能的，由於該地區多民

喇汗王朝的鑄錢。所以四類中的第二類錢幣根據推斷應該是

為了流通和使用便利。

葛邏祿統治七河地區時間內的鑄錢。葛邏祿部落唐初歸安

北都護府下轄燕然都護府統領，屬遊牧民族，並無鑄錢使

所以，對這一時期葛邏祿鑄錢的結論是 ：從錢幣文字中沒有

突騎施以及西突厥部眾，而七河地區在西突厥與突騎施管轄

統治七河地區的葛邏祿，並沒有發行統一的可流通七河全境

“亦納勒”稱號，發現的錢文與徽記變化來分析， 出現“葉護 ”

用的記載和錢幣的發現。其後才南下佔據七河地區，臣服了

的貨幣。而只是允許轄下的地方領主自鑄貨幣以參與流通。

下，地處絲綢之路中路，商品經濟遠比葛邏祿遊牧的阿爾泰

山南北地區發達。七河地區自突騎施衰敗解體，黃黑兩姓自

，其鑄行時間在10世紀七 喀喇汗王朝的阿拉伯文錢幣（圖9）

立可汗後各自鑄錢，錢幣在文字、族徽與形制上也無統一標

河地區伊斯蘭化之後，不在本文的論述之內。

準。葛邏祿佔據七河地區時間並不長，之前使用的貨幣也不

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In Memory of Howard Chen ◎ Michael Chou〔Taipei〕

My friend and business partner, Howard Chen ( 陳 元 和 ),

American Panda America, Fred Weinberg, MTB Bank,

passed away early in the morning of March 16, 2022, at

Mish International, Asset Marketing, Japanese Taisei

the age of 57. The wake was held at 1:30 p.m. on March

Coins, Korean Hwadong, Germany Emporium Hamburg,

28 at Zhishan Hall 1, Jing Yang Building, Taipei No. 2

and MDM. In the 1990s, Howard invested in Champion

Funeral Home (No. 330, Xinhai Road 3, Taipei City).

Investment Jinpin, which was likely the leading participant in the modern Chinese coin market in Asia. Under the management of my brother Peter, its vintage watch business is also second to none. Champion Investment Jinpin Company is also a major investor in modern Chinese stamps. In 1994, The Journal of East Asian Numismatics was launched at the ANA show held in Detroit. and the journal was published in English, and Bruce Smith in Boston assumed the editorship of the journal. After issue 2, we moved the editing and printing to Taiwan, and Howard and Chou Chien Fu took charge of the operation. My cousin Wang Haoger ( 王 豪 閣 ) designed the journal cover in

Howard Chen

Japan. We had an extremely successful mail bid sale at the beginning of the journal with the support of Howard, and he offered in the first sale such rarities as the restrike

I first meet Howard at the store of Chou Chien Fu ( 周建福 )

variety of the 1900 Peking dollar from the Eduard Kann, a

at No.28 Yanping South Road in the early 1990s. From

1903 Hupoo Tael, and a 1907 Peiyang Tael.

that meeting, a 30-year-long friendship had begun, and I couldn't have developed my career without Mr. Chen's

In June 1995 Howard traveled to Los Angeles with Chou

support. I still remember his famous saying that to be

Chien Fu, Chen Chi Mao and my brother Peter. Peter and

taken advantage of is actually advantageous. Throughout

I hosted them for the 1995 Goodman Auction, at which we

our many years of friendship and business partnership,

were one of the major buyers.

he was always extremely generous and kind to all the

In October 1995, we also did a special journal issue

people around him and conducted his business activity

in Chinese to celebrate the 50 year anniversary of the

with integrity. Howard was close to all three major Taipei

recovery of Taiwan from Japan. In 1996, Howard, my

numismatic dealers, namely Fu Chin's Chou Chen Fu,

brother Peter and I started Champion Auction. The first live

Top Coins' Chen Chi Mao ( 陳吉茂 ), and Tai Han's Chang

auction was held in June 1996 at the Holiday Inn Golden

Mingchung ( 張 明 泉 ). These three leading coin dealers

Mile in Hong Kong. Many incredible Chinese vintage

in Taipei were close personal friends, not just dealers he

rarities were in this sale. My great friend and former

used. Howard had built one of the finest collections of

president of PCGS (Ron Guth) came from San Diego

Chinese vintage coins starting in the 1990s.

to call this auction for us in Hong Kong. Howard Chen's

We did many exciting acquisitions of interesting collections

close friend, Chen Chi Mao, was also a major supporter

of rare and top condition Chinese vintage and modern

of the first auction, consigning many rare and ancient

coinage from the BK collection on the West Coast, MOB in

Chinese coins, including a qi fa hua knife coin. In addition,

the Midwest, and the LCM collection on the East Coast in

he helped us to find a professional photographer. This

the early 1990s. My brother Peter handled many modern

photographer had taken photos for books published by the

Chinese coin transactions with Howard's support, including

National Palace Museum in Taipei.

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February 4, 2022 with Chen Zhongyi (陳忠義, 1st from left), my father (2nd from left) and Howard Chen (4th from left) at a Japanese Restaurant in Taipei

The East Asia Journal is the predecessor of the JEAN; The inaugural issue of the JEAN, 1994

Table of Contents of the JEAN; Cover of the inaugural issue of the JEAN

The JEAN, Issue 1, 2016, after its resumption; The 25th and latest issue of the JEAN

6/1996 Champion Auction catalog cover and colorful inner pages

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Starting in 1999, Howard, my cousin Wang Haoger, and

With the passing of Howard this year and twenty years

I started the iAsure group first in New York then it was expanded to Japan and Taiwan. Howard was a director

earlier my cousin Wang, it is with great sadness that The Journal East Asian Numismatics , Champion Auction, and

of iAsure Japan and Chairman of iAsure Taiwan. Howard

iAsure Group have lost two of the most important founding

traveled to Tokyo frequently to meet with my friend from

members, and my life will not be the same without them.

my college days and later business partner John Lemkuil. John's Computec later joined iAsure Japan as an investor and John served as the director. I first saw Howard's sister Chen Wan Hwa ( 陳 婉 華 ) at Howard's home in Neihu when she was still going to school at Soochow University. She later became an investor in our iAsure Japan and ran the finance department for iAsure Taiwan. Ms. Chen also supported our auction in Hong Kong up to 2012. The eBay Taiwan press conference was held in August 2012. eBay President Meg Whitman communicated with Howard Chen, Chairman of iAsure Group Taiwan, and Michael Chou, President of iAsure Group. This was Meg Whitman's first trip to Taiwan.

We took a 3-year break due to the passing of my friend Nick Brown and also my own health issues. Ms. Chen was always an extremely happy person and brought much joy to all. It was with great sadness when she passed away in October 2014. Howard was an avid baseball lover and played baseball regularly with his Chinese Culture University classmates at a field nearby his house. We also went to many MLB baseball games in Los Angeles, New York, and Cleveland. Also, we went to NPB baseball games in Tokyo, including the 2002 Nippon series featuring two Chinese Taipei players Zhang Zhijia ( 張 家 志 ) and Xu Mingjie ( 許 銘 傑 ) and Daisuke Matsuzaka. It was my good friend Jimmy who helped us get tickets for this Yomiuri Giants vs. Seibu Lions game. In 2003, we saw them again at the Asian Baseball Championship in Hokkaido. In addition, he was

Group photo of iAsure Group Japan Avery Stone of iAsure Group is on the left, and Mr. Wang Haoger is on the right.

excellent at shooting basketball at arcades almost always making every shot. Howard was also a gracious host to many of the famous numismatic dealers and collectors and his classmate for a nice game of mahjong in the basement of his house in Neihu in Taipei. I will always remember my friend Howard who was not only a friend but also has a beautiful soul. He was only two years older than me, but he was also a mentor who was extremely supportive of my business ideas and dreams of establishing new business concepts.

In August 2012, Chen Wan Hwa was in charge of Champion's Hong Kong office and the auction in the Hyatt Hotel.

We will all miss his big smile and all his merits. As Howard's famous saying that to be taken advantage of is actually advantageous, he had been taken many advantages, actually taking many advantages. Weeping for Howard's departure today, I hope to reunite with him in another life. I am greatly indebted to him in this lifetime of his great generosity and friendship.

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緬懷陳元和先生 ◎ 周邁可〔臺北〕

我 的 好 友 及 商 業 夥 伴 陳 元 和 先 生（Howard Chen） 於

2022年3月16日清晨在臺北逝世，享年57歲。公祭於3月28

日下午1:30 在臺北市立第二殯儀館景仰樓至善一廳（臺北市

辛亥路三 330號）舉行。

International）、 資 產 行 銷 公 司（Asset Marketing）、 日

本的泰星硬幣株式會社（Taisei Coins）、韓國的華東公司

（Hwadong ）和德國的漢堡商城（Emporium Hamburg ）、

MDM 公 司 等 進 行 中 國 現 代 幣 的 貿 易。 在 20世 紀90年

代， 陳 元 和 先 生 投 資了 Champion Investment 金 品 公

司，這家公司當時在亞洲可以說是中國現代幣市場領導者。

在 我 的弟弟 Peter 經營下，其古董表 業 務 也 是首屈一指。

Champion Investment 金品同時也是中國當代郵票的主要

投資者。

1994 年， 《東亞泉志》在當年底特律美國錢幣協會展會舉辦

時創刊，波士頓的史博祿先生（Bruce Smith）擔任編輯， 以英文出版。在第二期出版後，我們將編輯和印刷工作轉

移至臺灣，陳元和先生和周建福先生負責臺灣辦公室的運

行，我的表兄王豪閣先生在日本東京為雜誌設計了封面。我

陳元和先生

們在陳先生的支持下，開始在雜誌上進行郵寄拍賣，他在 第一場拍賣中提供了耿愛德舊藏庚子京局造光緒元寶庫平

七錢二分銀幣重鑄版、1903年光緒元寶戶部庫平一兩銀幣、

20世 紀90年代初，我在周建 福先 生位 於延平南路28號的

1907年光緒元寶北洋庫平一兩銀幣等珍品。

福君郵幣社裏見到了陳元和先生。那是我們的第一次相見， 自此開始了長達 30 年的友誼。我在事業上得以發展都離不

1995年6月，陳元和先生和周建福先生、陳吉茂先生及我

開陳先生的支持。我始終記得他的“名言”⸺ 吃虧就是

的弟弟 Peter 一起前往 洛杉 磯，我 和我的弟弟 Peter 在當

方，對周圍的人親切友善，在商業活動中正直不阿。陳先

也是那次拍賣的主要買家。

佔便宜。在我們多年的交往和商業合作中，他總是慷慨大

年的古德曼舊藏拍賣期間招待了他們。另外，我們這一行人

生和福君郵幣社的周建福先生、東浦金銀珠寶有限公司的 陳吉茂先生、大漢郵幣鈔社的張明泉先生，這三位臺北的

1995年10月，我 們 還 為 紀 念臺灣 光復50周年 推 出了中 文

的中國機製幣收藏也是這個領域裏最精美的。

起 創辦了冠軍拍賣，並 於1996年 6月在香 港金 域假日酒店

主要幣商都私交甚篤。他自己自20世紀90 年代起建立起來

特別刊。1996年，陳元和先生和我以及我的弟弟 Peter 一

舉辦了首場現場拍賣。那次拍賣上也有很多中國機製幣珍

我 們 在 20世 紀90 年代 買下了很 多 有 趣 的 錢 幣，這 些收 藏

品，我的好朋友，亦即之後的 PCGS 總裁古富先生（Ron

中有很多極為珍罕且品相上乘的中國機製幣和現代幣，包

Guth）也專程從聖地牙哥前來香港主持此次拍賣。陳元和

括 美 國西 海岸 的 BK 收 藏、中西部 的 MOB 收 藏 和 東 海

先生的好友陳吉茂先生也是首次拍賣的主要支持者，他委

下，和美國的美貓公司（Panda America）、弗雷德 · 溫伯

幣。此外，他還幫助我們找到了專業的攝影師。這位攝影

岸 的 LCM 收 藏。 我 的 弟 弟 Peter 也曾 在 陳 先 生 的 幫 助

託拍賣了很多中國珍稀古錢，其中包括一把齊法化六字刀

格 公司（Fred Weinberg ）、MTB 銀行、米什國際（Mish

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2022年2月4日與陳忠義先生（左1）、我的父親（左 2）及陳元和先生（左4）合影於臺北麗都日本菜館

《東亞泉志》內的部門 介紹

《東亞泉志》創刊號 目錄頁

DEPARTMENTS

《東亞泉志》前身《東亞 通寶》

《東亞泉志》創刊號， 1994年

《東亞泉志》2016年復刊 後的第1期

最新《東亞泉志》第25期

冠軍1996年6月 拍賣目錄及彩色 內頁

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世了。 《東亞泉志》、冠軍拍賣和愛秀集團失去了兩位最重要

1999年，陳元和先生和我的表兄王豪閣先生以及我一起在

的奠基人。而沒有他們，我的生活就不一樣了。

紐約創建了愛秀集團，之後擴展至日本及臺灣。陳先生是 愛秀集團日本公司的董事，也是臺灣公司的董事長。他經 常去往東京見我大學時代的好友，也是我後來的商業合作

夥伴約翰 · 萊姆奎爾先生（John Lemkuil），約翰 · 萊姆奎 爾先生的 Computec 公司後來也作為投資方和董事加入了

愛秀集團日本公司。

陳元和先生的妹妹陳婉華女士後來也成為愛秀集團日本公 司的投資方，並負責愛秀集團臺灣公司的財務部門。她一

直支持冠軍拍賣在香港的運營，直至 2012年。我們第一次

見面是在陳元和先生位於內湖的家中，她當時還在東吳大

2012年8月舉辦的eBay臺灣新聞發佈會現場eBay總裁 梅格·惠特曼女士（Meg Whitman）和愛秀集團臺灣 公司董事長陳元和先生及愛秀集團總裁周邁可先生進 行交流，這是梅格·惠特曼首次前往臺灣

學學習。

我的好友尼克 · 布朗先生（Nick Brown）在 2013年逝世， 我也遇到一些健康問題，因此香港的拍賣活動暫停了兩三

年的時間。陳女士非常的樂觀，給我們帶來了很多歡樂。 因此，她在 2014 年去世時我非常難過。

陳元和先生也是棒球的忠實愛好者，定期會和他文化大學

的同學在他家附近的場地上打棒球。我們也曾一起多次前

去洛杉磯、紐約、克裏夫蘭觀看美國職棒大聯盟的棒球賽。 我們還一起去東京看過幾場日本職業棒球聯賽，其中2002

年日本大賽有兩位中國臺北選手張志家和許銘傑，還有松 阪大輔，是我的好友 Jimmy 幫我們拿到了這場讀賣巨人對 戰西武獅的票。2003年，我們又在北海道的亞洲棒球錦標

愛秀集團日本公司合影 左1是愛秀集團的埃弗裏·斯通（Avery Stone）， 左3 是王豪閣先生

賽看到了他們。此外，陳先生也很擅長玩電子投籃機，幾 乎每次都能投中。

他還經常熱情接待許多著名的幣商和藏家以及他的同學， 在他位於內湖的家中的地下室一起打麻將。

我緬懷陳元和先生，他不只是我的朋友，還擁有美好的靈

魂。陳先生雖然只比我年長兩歲，但也可以說是我的良師，

他非常支持我的商業想法，支持我建立新商業理念的夢想。 我們都將想念他的音容笑貌，記得他所有的優點。他也吃

了很多虧，占了很多便宜！哭君今天離去，盼友再世重逢。 我希望我們來生還能再次相見，因為我非常感激他這一生

2012年8月，陳婉華女士 在冠軍香港辦公室及凱悅 酒店負責拍賣事宜

中所給予我的慷慨和友誼。

我的表兄王豪閣先生在 20 年前過世，今年陳元和先生也過

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Chinese Gold Coins of Doubtful Origin and Bogus Concoctions E. Kann 〔USA〕

: e t No

The following article, written by Eduard Kann, appeared in the September 1951 issue of the Numismatic Bulletin, published by the Pacific Coast Numismatic Society. Because this article contains some information not included in Kann’s book, Illustrated Catalog of Chinese Coins, and because the original periodical is

somewhat obscure and difficult to find, we have decided to reprint the article here. In brackets [ ] I have added the appropriate Kann catalog number and the corresponding number from Krause’s catalog of fantasy coins and medals, Unusual World Coins, compiled by Colin R. Bruce (now in its 5th edition). Eduard Kann lived in China from 1901 through 1948, so he witnessed the issue and circulation of all of China’s Republican coins and many late Ch’ing dynasty machine struck coins. He was also in the bullion business and an advisor to the Shanghai Mint. He was also there when privately made fantasy coins were placed on the market. From his numerous writings, it is clear that in some cases he knew the name of the person responsible for the creation of various fantasy coins, but he never mentions any specific names. His catalog of Chinese coins contains no details on fantasy coins and medals, just a one line listing and a photograph. He doesn’t record the size, weight, or edges of the pieces. I tried to fill in this information and record these fantasies and medals in a logical manner in Unusual World Coins, but in later editions, Krause has managed to mangle the listing and rearrange it in a haphazard order. The original arrangement was by subject rather than by date or province, since nearly all of these pieces were made between 1910 and 1940, and mostly in the ShanghaiHangchow area. —— Bruce W. Smith

There exist numerous fabrications of Chinese gold coins

A set of Szechuan gold coins, produced in about 1920.

made by forgers, who either imitated existing silver coinage

These measure 19mm in diameter; their thickness averages

in gold or else invented gold coins of their own designs.

1 mm; and the weight of each piece is 3.5 grams. Each of

Some of these “creations” are mentioned here more

these pieces displays the effigy of an important personage,

as a warning and not for the purpose of perpetuating their

namely: the Empress dowager, the Emperor Kuang Hsu,

existence or acceptance by collectors. The following is, of

the boy Emperor Hsuan Tung, President Yuan Shih-kai

course, already incomplete because the nefarious practices

(in imperial robes) and President Feng Kuo-chang. [Kann

of professional swindlers never terminate.

B90-B94; Unusual World Coins XM155, 160, 200, 423, 680, 1331; XM 1370 is probably also part of this series.

(A)

Some pieces also exist in silver.]

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(B)

within. [There is] No legend between the outer and inner

During the first year of the republic (1912), there appeared

surrounded by four Turki words. The half tael piece has the

on the Shanghai market some well-finished gold medallions

same design in smaller dimensions, and shows the lower

in three different designs. One of them depicted a fourteen

denomination in Chinese characters. [Kann B106-B107;

armed female image. They are 49mm in diameter, with

UWC unlisted]

circles. On the reverse is depicted a Chinese dragon

a thickness of 5.5mm, and are purported go have been

(E)

issued in 1869, and then to have represented 50 taels each in silver. These medallions were alleged to have been made

Mr. Ching Tse-wei of Shanghai has in his large Chinese

for presentation at auspicious occasions by the Manchu

coin collection a gold piece, a replica of the half tael silver

rulers to the highest officials only. Actually the existence

piece of Sinkiang, cataloged by Kalgan Shih under number

of the medallions is due to inordinately greedy plans of a

C2-51 [Kann 1012 series]. The gold piece seems to have

Shanghai foreigner, who had induced some officials of the

been fabricated “privately and confidentially. ”[Not listed

Hangchow Mint to strike a few sets for his private account.

in Kann’s catalog as a fantasy or real coin. Not in UWC.

These were palmed off to unwary numismatists or wealthy

I have not recorded such a piece in any auction, and none

curio collectors at ridiculously high prices. [Kann B102;

of the catalogs published in China and Taiwan list such a

Unusual World Coins XM 455-475. See the major article

coin.]

on this set in Journal of East Asian Numismatics for MarchApril 1995.]

(F)

(C)

Two republican Sinkiang pieces, dated 1912, appeared in gold and silver in denominations of 1 and 2 mace. They

There exists a series of four gold pieces, said to have been

are of a similar pattern, but correspondingly smaller, than

made in Yunnan province in honor of the Emperor Hsuan

Shih’s number C2-75. The 2 mace is 23mm in diameter

Tung. The largest of these is about the size of a Chinese

and 1.5mm thick. The 1 mace measures 19mm in diameter

silver dollar, while the smallest of the set of four is of the

and is 1mm thick. Both show on their reverses the crossed

size of a 20 cent piece in silver. On the obverse of these is

five-barred republican flags. These were never issued by

seen, within a linear circle, the Chinese dragon, while the

the provincial authorities and are bogus. [Kann B85-B86;

outer ring is filled with inscriptions in Manchu and Chinese

UWC XM 1020-1036. The 2 mace illustrated in Kann (B85)

characters. The reverse depicts a Chinese child, once

is inscribed “ration gold” in Chinese. The 1 mace shown

again the unfortunate boy emperor, Pu-yi, “ruling” under

(B86) is inscribed “ration silver” in Chinese. Kann says

the dynastic title of Hsuan Tung, in native holiday robes.

both exist struck in gold and silver. Not shown in Kann is a

[Kann B95-B98; UWC XM 272-277. This set also comes

1 mace inscribed “ration gold” and struck in gold, which

struck in silver.]

appeared in the Hans Schulman sale of 14-16 October

(D)

1971. A 2 mace inscribed “ration silver” might also exist, but so far can not be confirmed.]

Another bogus product is to be found in two gold pieces,

(G)

supposedly struck by the Sinkiang Mint during the imperial regime, namely 1 tael and half tael [pieces]. The obverse

Various Tibetan silver coins were also produced in gold,

has within an inner ring four Chinese characters denoting

seemingly by private parties. So, for instance, the 1 tanka

“one tael military gold.” There are four concentric circles

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(K)

piece of the 60th year of the Emperor Ch’ien Lung. The same remarks refer to the 1 tanka piece of the 58th year of Ch’ien Lung. Both gold pieces are bogus. Furthermore,

Mr. Ching also has in his collection a 5 candareen piece of

another gold piece falling into this spurious group, exists

the Hu Poo tael series in gold. The original was produced in

in a half tanka piece of Tibet, dated the 3rd year of Hsien

silver only by way of an essay. It is certain that no replica in

Feng. [The last piece is Kann B78, which exists in silver and

gold was officially minted. If it emanated from the Tientsin

gold; UWC XM 401. The other two pieces aren’t listed

Mint [as did the original piece], it is at best an unauthorized

in Kann’s catalog as fantasies or real coins. A 58th year

mint sport. [Kann unlisted; UWC unlisted; Standard Catalog

half sho (Kann 1460 type) struck in gold appeared in the

of World Coins unlisted. This is an important bit of

Glendening & Co. sale of 30-31 October 1963, and is listed

information. As of the spring of 2008, this piece has never

in UWC as XM 393.]

been reported elsewhere. The 1 and 2 mace and tael in this set (Kann 927-931) are known to exist struck in gold,

(H)

though it is believed that these were privately produced, about 1980, using the original dies. The gold strikings first

Mr. Ching is also the owner of some Tibetan gold pieces,

appeared in a September 1982 Money Company sale, in

the legal existence of which is more than doubtful. They are

which Richard Nelson claims that only 5 pieces of the tael

two specimens of typically Tibetan style, though unknown

were struck in gold. He also claims the gold strikings had

as silver pieces. The obverses have a square at the center,

been published in Taiwan in 1981. The dies are illustrated

the reverse a circle, with Tibetan legends. Both are of the

in the Tai Pao-t’ing (Dai Baoting) Collection published

usual tanka size. [These don’t appear to be listed in the

before 1949. Where are these dies now? In December 2007,

Kann catalog, unless they are gold strikings of B77.]

I talked to former Taiwan coin dealer, J. S. Lee, who told me that he obtained the dies in the 1980s and still owns them

(I)

today. He denied having struck the gold pieces, and says he does not know who struck them or when. He did not,

The writer was offered by a New York coin dealer a

however, have the die for the 5candareen piece, and since

supposedly Tibetan gold piece in the tanka size. Its obverse

Kann had seen that denomination in gold sometime before

contained a Chinese legend, while the reverse displayed

1951, we may speculate that the dies for this set somehow

Tibetan script. Inscribed: “One Tael” and purportedly

got into private hands, but were dispersed among two or

issued by the Emperor Hsien Feng. Tibet never had coins in

more owners. The present locations of the 5 candareen die

tael denominations. This was a poor specimen of a bogus

and the 5 candareen gold striking are unknown.]

piece. [Kann B108; UWC XM 405]

(L)

(J)

The same collector owns, or owned, a gold piece which

In Wayte Raymond’s Coins of the World, 20th Century

shows on both sides, Yuan Shih-kai’s head in profile,

Issues, 3rd editin, page 226, a Tibetan gold piece of 1

and in Chinese “Third Year of the Chinese Republic. ”

mohur is illustrated. The obverse shows a lion dog, while

These are the obverse of the 20 cent piece in silver. Though

the reverse contains a circle surrounding the Chinese

almost certainly struck by one of the provincial mints, there

character “Fu”, the name of Buddha, encircled by a

is no deviating from the fact that the coin is bogus, or at

Tibetan inscription. This piece is a Shanghai concoction belonging to the extensive bogus group.

best, a mint sport. [Kann unlisted; UWC unlisted. I believe

[Kann B109;

what Kann meant to say is that the piece was struck from

UWC unlisted]

two obverse dies for a Yuan Shih-kai 20 cent silver coin.] J

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(M)

take refuge in Manchuria, the original home of the Manchu dynasty. Manchurian separatists then started to work for secession from China proper, and the establishment

Mr. Ching was the owner of a 10 cent Yuan Shih-kai piece of

of an independent state with a ruler from the Manchu

the 3rd year of the republic, but struck in gold. The reverse

reigning house. With this in view, gold coins allegedly were

displays a fancy 4-toed dragon, of a design not found on

prepared, according to Tolmachoff, by the Kirin Mint, dated

any other Chinese coin. An analogous coin, dated above

in Chinese, Hsin Ch’ou (1901). The obverse is patterned

in Chinese on the obverse with “Beginning of the Hung

on the silver coins of that year, with the yin yang symbol at

Hsien Regime” instead of “3rd Year, ” also exists as a

the center, but the legend differs. Within an inner pearled

doubtful product in gold. Its reverse also depicts the same

circle are found four Chinese characters denoting: “Gold

fanciful dragon already referred to. (See Kalgan Shih’s

Yuan for Circulation.”In the outer circle appear ten Chinese

catalog under number A6-1). [Kann 1517-1518; UWC XM

characters, translating: “Kuang Hsu 1901 Made in the

1305. Note that Kann lists these two pieces are real coins

Kirin Mint. ” The reverse differs radically from that of the

rather than fantasies.]

silver coins of Kirin and is somewhat similar in appearance to the then minted 1 cent coppers. In the center is seen a large dragon, and above, below, right and left, are single

(N)

Manchu characters. The gold used in striking was not of even fineness, varying in color. The specimen illustrated

A half dollar-sized piece with the Sun Yat-sen design

in the article was said to weigh 5/12 to 11/24 of an ounce

of 1912, exists in gold. In layout it is similar to the first

troy [12.95 and 14.25 grams], being 25.7mm in diameter. Most of the coins were said to have been melted up, and

republican Sun Yat-sen silver dollar, at least as far as the

very few specimens were believed to be still extant. Since

obverse is concerned. In the center is seen the bust of Dr.

1923 a good deal of numismatic research work has been

Sun in profile to the left. Within the outer ring, above, in

accomplished in China, but no one else has ever referred to

Chinese : “Republic of China”and below also in Chinese:

this coin. Until proof to the contrary is forthcoming, it will be

“Opening of the Country Memorial Coin. ” Right and

wise to consider it as bogus. [Kann unlisted; UWC unlisted.

left, floral arrangements. The reverse shows in the center,

This piece is listed in Standard Catalog of World Coins,

within a beaded circle, two crossed republican flags. Above

under Kirin, as a pattern (Pn 9). It is also listed in the Lin

in English: “The Republic of China. ” Below is an open

Guoming catalog as 1006. This coin was also published in

wreath of grain. There is no indication of a denomination.

Taiwan’s Numismatic World Bimonthly for January 1983.

No such coin was ever authorized in any metal, nor was

The first record I have of this coin appearing in auction, is in

it designed by any governmental mint. It is entirely the

the Glendining sale of 30 June 1965. The next appearance

fanciful product of professional forgers. [Kann B50 (though

was in a Money Company Hong Kong sale of September

not shown in gold); UWC XM 1061]

1983 (weight 14.3 grams), then in a Taisei Singapore sale about 1987. The piece pictured in the Lin catalog is not the same coin as that pictured in the 1923 Numismatist, so at

(O)

least two specimens exist. The story about a Manchurian separatist movement seems unlikely, because much of

Seemingly the publication in The Numismatist, Volume 36 Number 11, page 517 for November 1923, was an attempt

Manchuria was occupied by the Russian army from the

to gain authenticity for the following gold piece. Yet it is

summer of 1900 onward. This is why the Russo-Japanese

almost certainly a bogus piece. The article referred to was

War of 1904-1905 was fought in Manchuria. During 1901,

written by an E. T. Tolmachoff, who narrates that when

the Russians appear to have been in control of the Kirin

the Chinese court was forced to flee Peking in 1900 as

Mint, and some unusual copper coins resembling Russian

a result of the Boxer Uprising, it was suggested that they 80

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(R)

copper coins, were made there that year. Though Kann felt this gold coin was bogus, it is possible the coin is a pattern made under Russian influence, to take advantage of the

The only two Shantung gold coins, dated the 15th year of the

gold production of Manchuria.]

republic, in the denominations of $20 and $10 respectively, while existing in the genuine state, also have been forged. Since deviations in the design are rather inconspicuous,

(P)

one should be very careful in acquiring these. [Kann 1535-

1536. It is extremely unfortunate that Kann did not tell us A Chicago collector owns two republican gold coins in the

how to identify the forgeries of these coins.]

20 cent denomination, namely: Kwangtung province, 13th year of the republic, Shih C5-29; and Kwangtung province,

(S)

17th year of the republic, Shih C5-34. These were only regularly issued in silver, so that the gold replicas might, at best, be termed mint sports. [Kann unlisted; UWC unlisted. ]

In 1936, a Chinese goldsmith doing business under the

The 1924 coin in gold is listed in Standard Catalog of World

firm name of Yang King-ho, issued a gold piece without

Coins as an off-metal strike, Pn23. According to the Kalgan

denomination and sold same according to weight, at the

Shih references, the 1924 piece is the regular provincial

market price for gold. On one side a native junk is to be

type (Kann 734; Y423) and the 1928 is the Sun Yat-sen

seen, while the reverse displays St. George on horseback,

portrait type (Kann 736; Y426), both struck in silver. I can

together with the goldsmith’s firm name. These pieces

find no record of Kann 734 (without portrait) in gold, but

have plain edges and are not of uniform weight, though

the 1924 coin with Sun portrait (Kann 735) does turn up

averaging of the size of a half sovereign piece of Great

in auctions in gold or gold plated. The 1928 coin also turns

Britain. The maker’s purpose was to serve the small

up in gold, as does the matching 1929 coin (which Kann

man who desired to hold small savings in gold, not the numismatist. The issue was neither fraudulent, nor bogus,

lists under K737a as gold plated). The Chicago collector

though unauthorized and privately struck. But strictly

mentioned was probably Don Keefer, a prominent collector

speaking, it was not a coin. Government authorities soon

of Chinese coins, who was sent to prison in the 1940s

interdicted the further emission of these gold pieces. [Kann

and died in the early 1950s. Kann 735 in gold appeared

B105; UWC unlisted. Here Kann provides us with the date

in the Hans Schulman sale of April 1952 (the Woodward

of this piece, and in his catalog tells us the goldsmith was

Collection) and also in the third Kann sale (October 1971).

located in Shanghai. The correct Wade-Giles Romanization

It is strange that Kann recorded these gold strikings in this

of the shop name would be Yang Ch’ing Ho (pinyin:

article, but not in his catalog, published three years later.]

Yang Qing He). I have only seen this piece in auction once, probably in the 1970s.]

(Q)

With the foregoing enumeration one nearly exhausts the alphabet. There is no doubt that further fakes of Chinese

The 50 cent nickel piece, dated 32nd year of the republic,

gold coins will be discovered, so that the foregoing narrative

was shown to the author in gold. As it can not be assumed

is merely the beginning of a sad tale.

that it was intended as a souvenir coin, it follows that it, Shih F1-30 [Y362; K869] in gold, is another of the mint sports. [Kann unlisted. Actually he does mention this piece

in a note following K869x. UWC unlisted. Standard Catalog of World Coins unlisted. I have not recorded any auction appearances of this piece struck in gold.] J

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鑄地存疑的中國金幣偽品 ◎ 耿愛德〔美國〕

注： 以下文章由耿愛德撰寫，原刊載於太平洋海岸錢幣協會（Pacific Coast Numismatic Society）1951 年 9 月發行的《錢幣公報》（Numismatic Bulletin）上。由於這篇文章包含了一些耿愛德的《中 國幣圖說匯考》（Illustrated Catalog of Chinese Coins）中沒有的信息，而且原期刊有些晦澀難懂， 很難找到，所以我們決定在此轉載這篇文章。括弧 [ ] 中為筆者加入的的耿愛德目錄編號、克勞斯 的紀念章目錄中的相應編號，和科林·布魯斯（Colin R. Bruce）編纂的《不尋常的世界硬幣》 （Unusual World Coins）中的編號（現在是第五版）。耿愛德從 1901 年到 1948 年一直生活在中國，所以 他見證了中國所有民國時期的錢幣和許多晚清時期的機製幣的發行和流通。在中國近代機製金銀 幣的領域裏，早期收藏方面談得上豐富的很多，但能出書論述的很少，耿愛德就是其中一位，他 還是上海造幣廠的顧問。當私人製造的臆造幣投放市場時，他不惜重金收齊臆造幣。從他的大量 著作中可以看出，在某些情況下，他知道負責制作各種臆造幣的人的名字，但他從未提到過任何 具體的名字。在他有關於中國錢幣的目錄中沒有關於臆造幣和臆造章的細節，只有一張照片。他 沒有記錄這些幣的尺寸、重量和齒邊。我試圖在《不尋常的世界錢幣》一書中填補這些信息，並 以合乎邏輯的方式記錄這些臆造幣和臆造章，但在後來，克勞斯重新雜序排列了這些臆造幣，將 原來安排的順序打亂。原來的安排是按主題而不是按日期或省份，因為這些幣幾乎都是在 1910 年 至 1940 年之間製作的，而且大多是在上海與杭州地區。 ——史博祿

有許多偽造者製造的中國金幣，他們

(一)

計。這 裏 提 到的一些“作品”更多的

一 套四川金 幣，大 約生 產 於1920 年。

永遠存在或被收藏家接受。當然，下

米 ；每枚的重量為3.5克。每枚都展示

整了，因為職業騙子的邪惡行徑從 未

后、光緒皇帝、宣統帝、袁世 凱總統

要麼模仿現有的金 銀幣，要麼自己設 是作為一種警告，而不是為了讓它們

面的內容對現在的市場而言已經不完 停止過。

82

副總統。[K. B90-B94;《不尋常的世界

它們的直徑為19毫米 ；厚度平均為1毫

硬 幣 》XM155, 160, 200, 423, 680, 1331; XM 1370也 可 能 也 存 在 偽 品。 還有一些偽品是用銀鑄造的。］

了一位 重要人物的肖像，即 ：慈 禧太

(二)

（身穿帝王袍）和馮國璋⸺ 中華民國

在中華民國成立後的第一年（1912年），

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上海市場上出現了一些精心製作的金

質紀念章，有三種不同的設計。其中 一個描繪出了武裝的女性形象。它們

額也較小。[K. B106-B107; UWC 未列 名]

(五)

兩銀子。據稱，這些紀念章是滿清統

上海的秦子幃先生在他的大型中國錢

實上，這些紀念章的存在是由於一個

五錢的複製品，由施嘉幹編目，編號

治者在吉日送給最高官員的禮物。事

在上海的外國人的貪婪計劃，他誘使

各種西藏銀幣也被製作成金幣的樣子， 似 乎 是 由 私 人 製 作 的。 例 如， 乾 隆 六十年的一枚西藏金幣。另一枚是指

的直徑為 49毫米，厚度為5.5毫米，據

稱是1869 年發行的，當時每枚代表 50

FEATURES

乾隆 五十八年的一枚西藏金幣。兩枚

幣收 藏中，有一枚金幣，是新疆餉銀

C2-51[K. 1012系列 ]。這枚金幣似乎

金幣都是假的。此外，另一塊金幣也 屬於這組類型假幣中的一枚，年份為 咸豐三年。[ 最後一枚是 K. B78，存有

金質和銀質偽品 ；UWC XM 401。另 外兩枚在耿愛德的目錄中沒有被列為

杭州市造幣廠的一些官員為他私人鑄

是“私下裏秘密製作的”。 [ 在耿愛德

價格賣給了不知情的錢幣藏家或富有

的目錄中沒有列出這枚幣是臆造幣還

至31日的格蘭登寧拍賣會上，出現了

是真實的錢幣。我沒有在任何拍賣會

一枚金幣，編號 UWC XM 393。 ］

造了幾套。這些錢幣被以高得離譜的 的 古玩 收 藏 家。[K. B102;《不尋常的

上記錄過這枚錢幣，在中國大陸和臺

世界硬幣》XM 455-475。關於這套錢

灣地區出版的目錄中也沒有列出過這

幣的主要文章見《東亞泉志》1995年

枚錢幣。]

幣的真偽是非常值得懷疑的。還有兩

(六) 有一個系列的四枚金幣，據說是在雲

兩枚民國時期的新疆幣，鑄造年份為

1912年，有金銀兩個品種出現，面額

南製造的，以紀念宣統皇帝。其中最

為1錢和2 錢。它們的圖案相似，但相

四枚中最小的一枚與20 分銀幣大小相

2 錢 的 直 徑 為23毫 米， 厚 度 為1.5毫

大的一枚與中國銀元大小相當，而這

應 地比 施 嘉 幹目錄 中的 C2-75要小。

當。在這些硬幣的正面，珠圈內是一

米。1錢的直徑為19毫米，厚度為1毫

案是一名中國兒童⸺ 不幸的小皇帝

五色旗。這些都是省當局從未發行過

條龍，外圈題刻滿文和漢字。背面圖

溥儀，他在宣統王朝的頭銜下“執政”， 身 穿 長 袍。[K. B95-B98; UWC XM 272-277。這一套也有銀質偽品。 ］

另一枚假 幣 是在兩枚 金 幣中發 現 的， 據說是清朝統治時期的新疆造幣廠鑄

造的，即一兩和半兩。正面的內圈有 四個漢字，表示“一兩軍用金”。內有 四個同心圓。外圈和內圈之間沒有題

刻 文 字。背面 描 繪 的是 一 條 中國 龍， 周圍是四個突厥語詞匯。半兩有相同

件典型西藏風格的銀幣，雖然該品類

此前未知。正面的中心是一個正方形， 反面是一個圓形，上面有關於西藏的 傳說。兩者都是通常的西藏幣大小。

[ 這些似乎沒有被列入耿愛德目錄，除 非它們是用黃金鑄造的。］

米。兩者的背面都刻上了中華民國的

(九)

的， 是 假 的。[K. B85-B86; UWC XM

紐約的一個錢幣商向作者提供了一枚

展示的2錢錢幣上有中文“餉金”的字

中國的傳說，而背面則是藏文。上面

1020-1036。 耿 愛 德 目 錄（B85） 中 樣。圖中的1錢 (B86) 上刻有中文“餉

(四)

(八) 秦子幃還擁有一些西藏金幣，這些金

3-4月刊。］

(三)

臆 造 幣 或 真 幣。 在1963年10月30日

銀”字樣。耿愛德說這兩枚幣都是用 金和銀打制的。在耿愛德的拍賣目錄 中 沒 有 顯 示 出 的 是1971年10月14日

據說是西藏的金幣。它的正面有一個

刻 有“ 一 兩 ”， 據 說 是 由咸 豐 皇帝 發 行的。西藏從來沒有過一兩面額的錢 幣。因此，這是一枚假幣。 [K. B108; UWC XM 405]。

至16日傳奇幣商漢斯·舒爾曼 (Hans Schulman) 拍 賣 會 上 出 現 的 刻 有“ 餉 金”字樣並以黃金鑄造的1錢。 刻有 “餉金”字樣的2錢也可能存在，但至 今無法證實。］

的設計，尺寸較小，漢字所顯示的面

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在世界著名錢幣收 藏家韋特 · 雷蒙德

（Wayte Raymond） 的《 世 界 硬 幣 》

（Coins of the World），20世紀發行 的 第3版，第226頁中，展 示了一枚 西

(七)

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藏獅子金幣的圖片。正面是一只獅子，

( 十二 )

圍有藏文銘文。這枚幣屬於假幣。 [K.

同一位收藏家擁有或曾擁有一塊金幣，

而背面一圈圓圈中是漢字“佛”字，周 B109; UWC 未列名的 ]

完全是專業的偽造者異想天開出來的

它的兩面都是袁世凱的頭像，以及中

( 十五 )

定是由某個省的鑄幣廠鑄造的，但無

1923年11月發表在《錢幣 學家》第36

愛德目錄未列名 ；UWC 未列名。我相

弄清下列金幣的真偽。然而，這幾乎

( 十一 ) 秦 子 幃先 生 的藏品中還有一塊 金 幣。

法改變的事實是，這枚幣是假的。[ 耿

沒有鑄造過金質的複製品。如果它來

自天津造幣廠（如同原來的幣 一樣）， 它充其量是一個未經授權的造幣廠鑄

信耿愛德想說的是，這枚幣是由袁世 凱貳角銀幣的兩個正面模具鑄造的。］

卷第11號第517頁的文章，似乎是為了 可以肯定是一枚假幣。這篇文章是由

托爾馬喬夫（E.T. Tolmachoff ）寫的，

他敘述說，1900 年，由於義和團起義，

造的。[ 耿愛德目錄未列名 ；UWC 未列

( 十三 )

中國朝廷首腦被迫逃離北京，有人建

是一個重要的信息。截至2008年春天，

秦子幃擁有一枚民國三年的壹角袁世

王朝的原址。隨後，滿洲分離主義分

名； 《世界硬幣標準目錄》未列名。這 這枚硬幣從未在其他地方被報道過。 這套幣（K. 927-931）中的兩枚已知 存在黃金鑄造，不過據說那些是私鑄 幣，大約在1980年，使用了原始模具。 金幣的鑄造首先出現在1982年9月香 港 金 錢 公 司（The Money Company） 的拍賣會上，理查德·納爾遜（Richard Nelson） 聲 稱 只 鑄 造 有5枚 一 兩 的 金 幣。他還聲稱，1981年在臺灣曾公佈 過鑄金幣的事情。這些模具在1949年

凱像幣，但是是用黃金 鑄造的。背面

是一條四趾飛龍，這種設計在任何其 他中國錢幣上都找不到。一枚類似的

錢幣，正面用中文寫着“洪憲紀元”，

而不是“民國三年”，也是作為一種存 疑的金幣。它的背面也雕刻了前面提

到 的那 條 飛 龍。( 見 施 嘉 幹目錄，編 號 A6-1）。 [K. 1517-1518; UWC XM

1305。請注意，耿愛德列出的這兩枚 幣是真實的錢幣，而不是臆造幣。］

以前出版的《戴葆庭集》中得到了說 12月，我與前臺灣錢幣商李振興（J.S. Lee） 交 談， 他 告 訴 我， 他 在20世 紀 80年代獲得了這些模具，至今仍擁有 它們。 他否認鑄造過這些金幣，並說 他不知道是誰鑄造的，也不知道什麼 時候鑄造的。 然而，他並沒有5分硬 幣的模具，由於耿愛德在1951年之前 的某個時候就已經看到了該面額的金 幣，我們可以推測，這套硬幣的模具 以某種方式落入了私人手中，但分散 在兩個或更多的所有者手中。目前，5 分幣的幣模和鑄打的5分金幣的地方不 詳。]

議他們到滿洲里避難，滿洲里是滿清

子開始 致 力於從中國本土分 離 出來， 並建立一個由滿族統治者統治的獨立 國家。根據托爾馬喬夫的說法，據稱

這枚幣由吉林造幣廠鑄造，並在上面

刻有中文紀年 ：辛丑（1901）。正面圖 案與當年的銀幣相同，中間是太極符

號，但圖案不同。在內部的珍珠圈內， 有四個漢字，意為流通用的金幣。外

圈有十個漢字， “吉林省造辛丑光緒元 寶”。背面與吉林造幣廠鑄造的銀幣完

全不同，與當 時 鑄 造 的1分 銅 幣 在 外

觀上有些相似。中間是一條大龍，上

( 十四 )

明。 這 些 模 具 現 在 在 哪 里？ 2007年

84

UWC XM 1061] 。

文的“ 中華民國三年”。 這些都是貳

角銀幣的正面圖案。雖然幾乎可以肯

原版的是銀幣。可以肯定的是，官方

產物。[K. B50 （雖然沒有顯示為金幣） ；

一枚 帶 有1912年 孫中山頭 像 的 硬 幣，

以金幣的形式存在。在佈局上，它與

第一枚民國 時 期 的孫中山銀 元 相 似， 至少就正面而言是如此。中間是孫中

面、下面、右邊和左邊是單一的滿族

文字。鑄造時使用的黃金純度不均勻， 顏色各異。文章中展示的標本據說重 達 5/12至11/24 盎 司 金 衡 制（12.95和

14.25克），直徑為25.7毫 米。據 說大

山先生的半身像。在外圈內，上方有

部分錢幣都被熔化了，據說現存的標

國紀念章”，左右是花穗。背面的珠圈

成了大 量的錢幣研究工作，但沒有人

幟。 上 面 是 英 文“ The Republic of

證據之前，將其視為假幣是明智之舉。

“開 中文 :“中華民國”，下面也是中文：

內，中間是兩面交叉的中華民國的旗

本非常少。自1923年以 來，在中國完

提到過這種錢幣。在沒有得到相反的

China”，下面是嘉禾。沒有標明面額。 [ 耿愛德目錄未列名的 ；UWC 未列名 從 未授權 任 何金 屬材質的這 種硬幣，

也沒有任何政府造幣廠設計這種硬幣。

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的。此枚幣作為一枚樣幣被列入《世

界硬幣標準目錄》。它在林國明的目

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1936年，一家楊慶和銀樓的金匠鑄造

錄中也被列為1006號。有關這枚錢幣

735）確實在拍賣會上出現過金幣或

的故事還發表在臺灣《錢幣世界》雙

鍍金的。1928年的硬幣也出現了金幣，

月刊1983年1月的文章中。我所掌握

與之對應的1929年的幣也是如此（耿

的關於這枚幣出現在拍賣會上的第一

愛德在 K737a 下將其列為鍍金）。所

個記錄是在1965年6月30日的格蘭登

提到的芝加哥收藏家可能是唐·基弗

寧拍賣會上。下一次出現是在1983年

（Don Keefer） ，他是一位著名的中國

9月香港金錢公司拍賣會上（重量為

錢幣收藏家，在20世紀40年代被送進

14.3克），然後是在1987年左右的新

監獄，在50年代初去世。金質的 K.735

加坡泰星拍賣會上。林氏目錄中的作

幣出現在1952年4月的漢斯·舒爾曼

品與1923年錢幣學雜誌中的照片不一

拍賣會上（伍德華收藏），也出現在第

樣，所以至少有兩個樣本存在。關於

三次耿愛德拍賣會上（1971年10月）。

滿洲分離主義運動的故事似乎不太可

奇怪的是，耿愛德在這篇文章中記錄

能，因為從1900年夏天開始，滿洲的

了這些事件，但在他三年後出版的目

裏，耿愛德為我們提供了這枚幣的發

大部分地區被俄羅斯軍隊佔領。這就

錄中卻沒有記錄。］

行日期，並在他的目錄中告訴我們這

是為什麼1904-1905年的日俄戰爭是

常的銅幣類似於俄羅斯的銅幣，那一 年在那裏製造。儘管耿愛德認為這枚 金幣是假的，但這枚金幣有可能是在 俄羅斯的影響下製作的樣幣，利用滿 洲的黃金生產。］

( 十六 ) 一位芝加哥的收藏家擁有兩枚面值貳 角的共和金幣，分別是民國十三年廣

東省造金幣，施嘉幹目錄 C5-29 ；以

( 十七 ) 這 枚 五 角鎳幣， 發 行 於民 國 第32年，

後 來金幣中也出現了這枚幣。由於施

廠鑄造。[ 耿愛德目錄未列出。事實上，

未經授權和私人鑄造的。但嚴格來說， 它並不是一枚硬幣。政府當局很快就

制止了這些 金幣的進一步 發行。 [ 耿 愛 德 目 錄 B105; UWC 未 列 名。 在 這

會上見過這枚幣一次，可能是在20世 紀70年代。]

多的中國金幣贗品被發現，所以上面

他在 K869x 之後的注釋中確實提到了

這枚幣。UWC 未列名。《世界硬幣標 準目錄》未列出。我沒有記錄這枚金 幣的任何拍賣情況。］

的形式存在，但也是偽造的。由於設

鑄 幣（K. 734; Y423） ，1928年 孫 中

服務。這個東西也不是假的，雖然是

的敘述只是一個開始。

1924年的金幣在《世界硬幣標準目錄》

料，1924年的幣是正規的省級造幣廠

的小人物服務，而不是為錢幣收 藏家

F1-30 [Y362; K869] 的金幣也是造幣

造的，因此，這枚施嘉幹目錄編號為

僅有的兩枚民國15年的山東金幣，面

metal Strikes） 。根據施嘉幹的參考資

的是為那些希望用黃金持有小額儲蓄

通過上述列舉，毫無疑問，還會有更

銀幣，所以黃金做的只能被稱為複製

中被列為異質幣（O.M.S. 異質幣 Off-

幣邊緣平坦，重量不一。製造者的目

嘉 幹 並 不 認 為它 是 作 為 紀 念 幣 而 鑄

( 十八 )

品。 [ 耿愛德目錄未列名 ；UWC 未列名。

治，還有楊慶和銀樓的名稱。這些硬

音 是 Yang Ch’ing Ho。 我 只 在 拍 賣

及民國十七年廣東省造金幣，施嘉幹

目錄 C5-34 。廣東造幣廠只定期發行

的市場價格出售。背面是騎馬的聖喬

個金匠是在上海。店名正確的韋氏拼

在滿洲里進行的。1901年期間，俄國 人似乎控制了吉林造幣廠，一些不尋

了沒有面額的金幣，並按重量以黃金

值 分 別 為20元 和10元， 雖 然 以 真 品 計上的偏差相當不明顯，人們在購買

這些錢幣時應該非常小心。[K. 15351536. 非常遺憾的是，耿愛德沒有告 訴我們如何識別這些贗品。]

山像幣（K. 736; Y426） ，都是用銀鑄

( 十九 )

造的。我找不到 K. 734（無肖像）金 幣的記錄，但1924年有孫中山像幣（K.

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Past TICC

Küenker Auction representatives Fabian Halbich and Petr Kovaljov, Chinese modern coin dealer Bian Yibing (卞一 冰) and Champion Auction President Michael Chou at TICC 2019

The Chang Tso Lin Silver Pattern with Dragon and Phoenix from the Kann Collection will be Auctioned by Taisei ◎ Champion〔Shanghai〕

Recently, Taisei Auction contacted Michael Chou, President of

The NGC grading team also

Champion Auction, to inform him of the upcoming auction at

wrote two articles on important

the Tokyo International Coin Convention (TICC) on Saturday,

coins in the auction, including

April 30. The first TICC was held in 1990, and Michael Chou

the extremely rare 1927 Chang

had a booth there under the name "Fu Chin International".

Tso Lin Silver Dollar Pattern w it h D r a gon a nd Pho e n i x ,

86

The upcoming Taisei Auction features many important Chinese

which is the highlight of this

coins from the 1971 Eduard Kann Collection Auction, some of

auction. T he coin g raded

which have been in collections since the 1970s, with original

NGC MS62 is from the Kann

toning and nice eye appeal. Many of the record-breaking coins

collection, and it is the plate

in the previous sale of the Nelson Chang Collection also came

coi n 687 i n t he I llu st r ated

from the Eduard Kann Collection and also had very nice eye

Catalog of Chinese Coins by

appeal. NGC graded these great rarities and made promotions,

Eduard Kann and the 1972 Jess

sending emails to its over 70,000 Chinese and world coin

Peters Price Lis t of the great collector known as ‘D.C.’ The coin

collecting customers. So we expect this auction to lead the 2022

was purchased by Masamichi Oka, founder of Taisei Auction,

Chinese vintage coin market.

from D.C. for his client, and it was listed in the 1972 Jess Peters

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Illustrated Catalog of Chinese Coins published in 1954

專題

Price List for $1850.

FEATURES

Kann Collection. This is one of the rarest Republican coins and the first coins issued by the Shanghai Central Mint. The mint

In 2021, the Chinese vintage coin market surpassed the highs

dies were produced by the Philadelphia Mint and struck at the

of 2011, breaking many records at auction. Among them, the

Shanghai Central Mint.

Chang Tso Lin Silver Dollar is one of the most popular coins. In April 2021, the 1928 Chang Tso Lin Silver Dollar from the

There is also a very rare 1867 Shanghai Silver Tael with the

Samsung Museum collection became the first Chinese vintage

original toning and sharp strike. This is one of the most popular

coin to exceed the $2 million mark at auction. In December

Chinese pattern coins produced by Western mints. The Hong

2021, a 1926 Chang Tso Lin Silver Dollar from the collection

Kong Mint where this coin was struck was built by Thomas

of Haru Chang in Taiwan, was sold at auction for RMB 25.99

Kinder, who later built the Osaka Mint and sold the Hong Kong

million - making it the third most expensive coin sold at auction

Mint's minting equipment to Japan.

worldwide. In 1991, the abovementioned 1926 Chang Tso Lin Silver Dollar was sold at the Goodman Collection Auction for

Another highlight of the auction is the 1903 Hupoo Silver Tael.

only $27,500; its price in 2007 was only RMB 4,256,000. In

Its die was made by the Osaka Mint. All of the above rarities

2008, the coin was consigned to auction with a reserve price of

have been graded by NGC and are indispensable foundations if

RMB 1 million and failed to sell. In 2017, the coin was sold for

one wants to build an exceptional collection of Chinese coins.

RMB 2,070,000. The price has gone up 200 times compared to Cha mpion Auct ion ha s a long h istor y of com me rcial

the initial one.

cooperation with Taisei Auction since the 1990s. We are very Another important coin in this auction is the 1932 Gold

pleased to be working with Masahiro Oka and Taisei Auction

Standard Silver Pattern with a plain edge from the Eduard

as the distributor for Greater China for their upcoming auction

The 1928 Chang Tso Lin Silver Dollar was auctioned in April 2021. PCGS SP64

The 1926 Chang Tso Lin Silver Dollar was auctioned in December 2021. PCGS SP64t

Cover and Inner pages of Silver Crowns of the Far East

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專題

March 2022 issue of the Taisei Monthly and Auction information

catalogs. Interested collectors can contact us or Taisei Auction

end of the article, there is also the introduction of the Taisei

for more information.

Auction for reference.

In addition to the auction, we are also helping Taisei update an

The Chang Tso Lin Silver Dollar was minted between 1926

important reference book of Asian silver coins, that is, Silver

and 1928 by the Tianjin Mint. The 1926 Chang Tso Lin Silver

Crowns of the Far Eas t ( 極 東 の 大 型 銀 貨 ). The book is by

Dollar is inscribed with Chinese characters ji nian [ 紀

Taisei’s founder, Masamichi Oka, and was first published by

which means commemorative, while the inscription on the

Taisei Coin in 1966. The Journal of East Asian Numismatics

1927 Chang Tso Lin Silver Dollar was changed to ji nian bi,

will also exchange articles with Taisei Monthly , one of the

[ 紀 念 ], which means commemorative coin. The 1928 Dollar

oldest and leading numismatic publications in Japan.

is the last one in the series, as Chang Tso Lin was assassinated

念 ],

in this year. The three Chang Tso Lin Silver Dollar coins are Let's appreciate and learn more about these rare coins. At the

exceptionally rare among the coins of the Republic of China,

① 1927 Chang Tso Lin Silver Dollar with Dragon and Phoenix

The cover of the 1972 Jess Peters Price List and the description and image of the coin

1927 Chang Tso Lin Silver Dollar with Dragon and Phoenix NGC MS62, Kann Collection The plate coin from the Illustrated Catalog of Chinese Coins and 1972 Jess Peters Price List

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and the one in this auction is the rarest of them all.

FEATURES

high as $1,000.Yet, it is unknown to many collectors that many of the coins in the 1972 Jess Peters Price List were acquired

The pedigree of this coin was finally identified thanks to the

from the 1971 Eduard Kann Collection Auction.

fact that it is the plate coin in the Illustrated Catalog of Chinese

Coins by Eduard Kann and great collector D.C.'s 1972 Jess

NGC finally confirmed this coin as an Eduard Kann collection

Peters Price List .

by comparing its toning with that on the images in the two catalogs mentioned above.

Coins that are included in numismatic catalogs and reference works must be of great importance, and this is a reference that

The Chang Tso Lin Silver Dollar ranks No. 18 in the third

goes far beyond the textual descriptions in the auction catalogs

edition of the Top Chinese Coins.

when it comes to identifying the coins. The 1932 Sun Yat Sen Gold Standard Silver Pattern ranks No. 24 in the third edition of the Top Chinese Coins .

Eduard Kann is a great collector well known to many Chinese vintage coin collectors and researchers, and the 1971 Auction of the Eduard Kann Collection is famous. The catalog for this

The 1867 Shanghai Silver Tael ranks No. 14 in the third edition

auction is very rare and hard to obtain, and its market price is as

of the Top Chinese Coins . The 1903 Hupoo Silver Tael ranks No. 21 in the third edition of the Top Chinese Coins . This rare Yuan Shih Kai 3/4 Facing Silver Dollar is sharply struck with clear hair details. The 1914 Yuan Shih Kai Silver Dollar with L. Giorgi signature is even more valuable than the ordinary variety, pricing double the unsigned variety. According to Eduard Kann's Illustrated Catalogue of Chinese

Toning and features of Chang Tso Lin Silver Dollar

②/③ 1932 Sun Yat Sen Gold Standard Silver Pattern with Plain Edge from the Kann Collection

1867 Shanghai Silver Tael with Rays

1932 Sun Yat Sen Gold Standard Silver Pattern Plain edge, Kann Collection, NGC MS60t

1867 Shanghai Silver Tael with Rays NGC PF63+

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④/⑤

90

1903 Hupoo Silver Tael Restrike

1914 Yuan Shih Kai Silver Dollar with L. Giorgi Signature

1903 Hupoo Silver Tael Restrike NGC MS63

1914 Yuan Shih Kai Silver Dollar With L. Giorgi Signature, NGC SP61

1914 Yuan Shih Kai Silver Half Dollar With L. Giorgi Signature, NGC UNC DETAILS

1914 Yuan Shih Kai 3/4 Facing Silver Dollar With L. Giorgi Signature, NGC MS62

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專題

FEATURES

⑥ 1906 Ta Ching "Chung" Silver Tael

1906 Ta Ching "Chung" Silver Tael NGC MS61, Original Strike

1906 Ta Ching "Chung" Silver Tael NGC MS61, Restrike

Coins , the price of the variety without the signature was $35

surface and sharp strike. The restrike one has a relatively rough

and the variety with the signature was $70 in 1954; the price

surface, but it is one of the most beautifully struck 1906 Ta

was $700 for the variety without the signature and $1,400 for

Ching "Chung" Silver Tael, with few traces on the surface and

the variety with the signature in 1966.

good eye appeal.

The 1914 Yuan Shih Kai Silver series ranks No. 19 in the third

The 1906 Ta Ching "Chung" Silver Tael ranks No. 36 in the

edition of the Top Chinese Coins .

third edition of the Top Chinese Coins .

This auction includes two 1906 Ta Ching "Chung" Silver Tael

The 1907 Ta Ching Silver Dollar in this auction has original

coins. This is one of the most important coins made by the

toning, with a sharp strike and good eye appeal.

Tianjin Mint. The 1907 Ta Ching Silver Dollar ranks No. 54 in the third edition of the Top Chinese Coins .

The original strike one is graded NGC MS61, with a good

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⑦ 1907 Ta Ching Silver Dollar

1907 Ta Ching Silver Dollar, NGC MS64

⑧ 1929 Sun Yat Sen Junk Dollar Silver Pattern

1929 Sun Yat Sen Junk Dollar Silver Pattern NGC MS60, Italian variety, with A. Motti Signature

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1929 Sun Yat Sen Junk Dollar Silver Pattern NGC MS62, England variety

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In 1929, the Republic Government wanted to replace the Yuan

1914 Yuan Shih Kai Republic Dollar Silver is popular among

Shihkai Dollar and Sun Yat Sen Dollar with new coins, so

collectors, and the one in this auction is sharply struck with an

it invited the national mints of five countries, including the

obvious matte contrast and a nice eye appeal.

United States, Austria, Italy, Britain and Japan, to engrave the dies. A total of six varieties were made. However, none of

The 1914 Yuan Shih Kai Republic Dollar Silver ranks No. 28 in

these dies were adopted in the end, and only a few pattern coins

the third edition of the Top Chinese Coins .

were produced at the Hangzhou Mint. All these patterns were in small quantities, among which the Italian variety with the

This coin is one of the very rare early Soviet silver coins in

signature of A. Motti is the rarest.

high grade. The center of the reverse is slightly weakly struck, but the surrounding Chinese characters are struck clearly with a good eye appeal on the whole.

This England variety with a sharp strike in this auction is graded NGC MS62.

The 1931-1935 Soviet Silver Dollars ranks No. 35 in the third edition of the Top Chinese Coins.

The 1929 Sun Yat Sen Junk Dollar Silver Pattern ranks No. 34 in the third edition of the Top Chinese Coins .

⑨/⑩ 1914 Yuan Shih Kai Republic Silver Dollar with L. Giorgi Signature

1932 Hupeh-Honan-Anwhei Soviet China Dollar Silver

1914 Yuan Shih Kai Republic Silver Dollar NGC SP66, with L. Giorgi Signature

1932 Hupeh-Honan-Anwhei Soviet China Dollar Silver Chinese Variety, NGC XF DETAILS

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⑪ 1949 Kweichow Bamboo Silver Dollar with Round Window

1949 Kweichow Bamboo Silver Dollar Round window variety, NGC AU DETAILS

⑫ 1923 Dragon and Phoenix Silver Dollar

1923 Dragon and Phoenix Silver Dollar NGC MS62, Large Characters

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1923 Dragon and Phoenix Silver Dollar NGC MS63, Small Characters

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專題

FEATURES

⑬ Birth of Republic of China Silver Dollar

1912 Li Yuan Hung Birth of Republic of China Silver Dollar NGC UNC DETAILS

1928 Sun Yat Sen Birth of Republic of China Silver Dollar NGC MS65, with a dot below the ear

This is the Bamboo Dollar with the sharpest strike we have

just the opposite for high quality coins. Small character coins

seen in the last thirty years. It has a nice eye appeal and NGC

of high quality are extremely rare, and few have a grade over

graded it conservatively.

MS65.

The 1949 Kweichow Bamboo Silver Dollar ranks No. 38 in the

The 1923 Dragon and Phoenix Silver Dollar ranks No. 49 in the

third edition of the Top Chinese Coins.

third edition of the Top Chinese Coins.

The 1923 Dragon and Phoenix Silver Dollar is one of the

This 1928 Sun Yat Sen Birth of Republic of China with a dot

most popular Republic coins among collectors, and it has two

under the ear of the portrait is a very rare variety, and high

varieties, namely, the large character variety and the small

scorers are especially rare in this variety. This one graded NGC

character variety.

MS65 is one of the best known, with a sharp strike and full original light. It is a good opportunity for collectors to purchase

The large character variety of the Dragon and Phoenix coins is

this coin.

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⑭ As for the Li Yuan Hung Silver Dollar, NGC UNC DETAILS,

1866 Hong Kong Silver Dollar with Plain Edge

it has original toning and old cleaning. 1912 Birth of Republic of China Silver Dollar ranks No. 41 in the third edition of the Top Chinese Coins. The 1866 Hong Kong Silver Dollar was minted in the early years of the Hong Kong Mint to replace the Mexican silver dollar in circulation in Hong Kong. However, it was not well accepted, so it was only minted between 1866 and 1868. The Hong Kong Mint was then shut down and the minting equipment was later sold to Japan for the construction of the Osaka Mint.

1866 Hong Kong Silver Dollar Plain Edge, NGC PF64

The piece in this auction is one of the best known, with original toning and clear mirror contrast. In addition it is a plain edge variety which is much rarer.

⑮

1920 Double-sided Yuan Shi Kai Silver Dollar

1920 Double-sided Yuan Shi Kai Silver Dollar With mint mark, NGC MS62

The 1920 Double-sided Yuan Shi Kai Silver Dollar is rare,

Hospital and was funded by Rockefeller Jr. and the Rockefeller

listed as 666E in the Kann catalog, and the piece has a mint

Foundation. The coin with the word "commemorative" is

mark on the obverse.

graded as NGC MS62, and has a sharp strike; the plain edge one without the word "commemorative" is even rarer, graded as

There are two 1921 Hsu Shih-Chang Pavilion Medals in this

NGC AU DETAILS, with old cleaning and good eye appeal.

auction. According to the research of Bruce Smith, senior

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editor of The Journal of East Asian Numismatics , the coin was

The 1921 Hsu Shih-Chang Pavilion Medal ranks No. 44 in the

minted to commemorate the completion of the Peking Union

third edition of the Top Chinese Coins .

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⑯ 1921 Hsu Shih-Chang Pavilion Medal

1921 Hsu Shih-Chang Pavilion Medal, With "Commemorative", NGC MS62

1921 Hsu Shih-Chang Pavilion Medal Without "Commemorative", NGC MS62

⑰ 1923 Tsao Kun Silver Medal

1923 Tsao Kun Silver Medal in Civilian Clothes NGC MS61

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1923 Tsao Kun Silver Medal

1923 Tsao Kun Silver Medal in Military Uniform NGC MS62

There are two Tsao Kun Silver Medals in this auction, both

This 1924 Tuan Chi Jui Silver Dollar with old cleaning is

with original toning. The one in civilian clothes is graded NGC

graded NGC UNC DETAILS.

MS61, and the one in military uniform is graded NGC MS62. This 1924 Tuan Chi Jui Silver Dollar ranks No. 52 in the third edition of the Top Chinese Coins .

The 1923 Tsao Kun Silver Medal ranks No. 59 in the third edition of the Top Chinese Coins .

⑱ 1924 Tuan Chi Jui Silver Dollar

1924 Tuan Chi Jui Silver Dollar NGC UNC DETAILS

The three Taiwan Old Man Silver Dollars are all in good

The Taiwan Old Man Silver Dollar ranks No. 11 in the third

condition and have many chops. Therefore, they are a good

edition of the Top Chinese Coins .

choice for both chopmark coin collectors and Taiwan coin collectors.

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⑲ Taiwan Old Man Silver Dollar

⑳ Qi Fan Bang Li Chang Fa Hua Knife Coin from the Warring States Period Ji Mo Zhi Fa Hua Knife Coin from the Spring and Autumn Period

Qi Fan Bang Li Chang Fa Hua Knife Coin from the Warring States Period

Ji Mo Zhi Fa Hua Knife Coin from the Spring and Autumn Period

There are two popular and rare knife coins in this auction,

Among knife coins from the State of Qi in the Warring States

namely, a Qi Fan Bang Li Chang Fa Hua ( 齊 返邦立長法 化 )

Period, those with three characters are commonly seen. The

Knife Coin and a Ji Mo Zhi Fa Hua ( 即墨之法化 ) Knife Coin.

knife coin is an important witness to early Chinese monetary and financial history.

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From left: Luis Vigdor of M&T Bank Corporation; Marty Weiss, founder of Panda America; Masamichi Oka, founder of TAISEI; Mr. Dong, former Vice President of the People's Bank of China

Akae Yosuke, Japanese Ambassador to China, and Masamichi Oka

The cover of the 2011 Taisei Auction catalog shows a 1991 5 kg 10,000 Yuan Chinese Gold Panda Coin commemorating the 10th anniversary of its release.

Spink-Taisei Coin Auction Catalog

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2022 Taisei Auction Catalog

Spink-Taisei Hong Kong Coin Auction Catalog

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About Taisei Coins Taisei Coins was established in April 1967 and its first retail store was opened in the Shinjuku Station Building. In 1977, it held an auction at Nissen Kaikan in Tokyo, and in 1982, it became the major distributor for Panda gold coins issued by the People's Bank of China in Japan. Taisei Coins is also a member of the Japan Money Chamber of Commerce and participates in almost all of the coin shows in Japan. André de Clermont is in the middle, and Michael Chou is on the right. On the left is Steve Fenton of Knightsbridge Coins, who owns the 1933 U.S. $20 pattern coin from the King Farouk Collection. The coin was probably purchased through Hans Schulman in 1944, and then it was sold at Sotheby's in 2002 for $7.59 million, almost twice the previous record price for a single coin at auction. This photo was taken during Michael Chou's visit to London in 2017.

In 2011, Champion Auction bought a 1991 5 kg 10,000 Yuan Chinese Panda Gold Coin commemorating the 10th anniversary of its issue for $1.6 million from Taisei Auction for a guest, breaking the auction record of modern Chinese coins. In August 2017, on the occasion of the 50th anniversary of the company's founding, a wholly-owned subsidiary, Taisei Auction, was officially established. But before the launch of the auction house, Taisei held joint auctions with Spin k in Tokyo, Hong Kong, China, and Singapore, as one of the world's leading numismatic companies. During the 1980s boom in Japan, Taisei was considered the most important numismatic company in Japan.

The Jour nal of East Asian Numismatics has conducted interviews with D.C. and André De Clermont, a representative

From left: King Chan (陳景林), Michael Chou, David Camire, Robert Mish, Masahiro Oka, Marty Weiss

of Spin k's nu mismatic division, in the U.S. and U.K., respectively, between 2016 and 2017, which will be published soon, so stay tuned!

of Masamichi Oka. He has been involved in the compilation of Taisei Coins upholds the philosophy of making a contribution

several numismatic works, such as the Large Silver Coins of

to building a wealthy society through coin collecting. It is said

the Far East and the Japanese edition of Richard S. Yeoman's

that when its founder, Masamichi Oka, visited his daughter in

A Guide Book of United States Coins . Masamichi Oka is also

Los Angeles, he met Martin Weiss and first put forward the

a major collector of world currency in the Japanese region, and

idea of making the panda as the pattern of Chinese investment

his contributions are indispensable to the standard reference

coins. Since then, his business journey has turned a new page.

book Gold Coins of the World and the new edition of Modern

Taisei formed a "panda group" with Panda America, MTB

World Coins .

and MDM. Masamichi Oka won the Nick Brown Lifetime Achievement Award for the Advancement of Numismatics in

Taisei operates wholesale, retail and online businesses. It also

2015, and Masahiro Oka received the award on behalf of his

publishes the coin magazine Taisei Monthly , and it has hosted

father.

many live auctions. Taisei Monthly is sold not only to wellknown collectors, but also through major department stores and

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Taisei Monthly will be reprinted in subsequent issues of The Journal of East Asian Numismatics . Masamichi Oka created a revolution i n Japanese coi n collecting, which is extraordinary. His travels around the world, establishing as many contacts as possible with dealers, banks and mints, led Taisei to be the first company to introduce and actively promote world currency to the Japanese public. This was revolutionary at the time, and since then Taisei has not only sold coins, but also has undertaken many numismatic projects, including Olympic commemorative coins and many others. Soon after Taisei’s founding, Japan became one of the most active and exciting coin markets in the world. From left to right: Masamichi Oka (founder of Taisei Stamps & Coins, now Taisei Coins) and his partners, Goh Cheng Liang (吳清亮, founder of Wuthelam Group, Singapore) and Montri Jiaravanont（son of the founder of Charoen Pokphand Group, Thailand)

Taisei was also one of the pioneers in the rare Chinese coin market, holding Chinese coin auctions in Singapore in 1986, Tokyo in 1988, and with Spink in Hong Kong in 1991. As one of the largest numismatic companies in the world, its business has expanded as far away as Switzerland. Taisei was one of the first overseas distributors to promote modern Chinese coins, not only panda coins but also China's Rare Wild Animals series and the Romance of the Three Kingdoms series. Japan was at the zenith of its economic boom in the late 1980s and early 1990s, when prices of stocks and real estate were at their peak. The Japanese spent generously as their income increased, so the first large-size, 5 ounce Sino-Japanese Friendship Panda (Tong Tong) Gold Medal designed by Zhu

Japanese and English versions of Modern World Coinst

Chunde ( 朱純德 ) was minted in 1987 in response to the strong economy in Japan. The biggest Japanese newspaper, Yomiuri Shimbun , headlined the new commemorative panda coin in an article titled Forget

Stocks, Buy Gold Medals . Undoubtedly, this publicity campaign promoted sales. The 5 ounce gold commemorative panda medal with a mintage of 1,500 and 1 ounce gold commemorative panda medal of 5,000 were all sold out. Many people waited in a long line to buy one, so Taisei Coins had to repurchase some of the panda medals from the US and European distributors in

1987 Sino-Japanese Friendship Panda Gold Medal

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往屆TICC現場

耿

FEATURES

（左起）昆克拍賣代表費邊·哈爾比奇（Fabian Halbich）、 彼得·科瓦爾喬夫（Petr Kovaljov）與中國現代幣經銷商卞 一冰先生、冠軍拍賣總裁周邁可先生合影於2019年TICC展會

愛

德 舊 藏

張作霖像背龍鳳壹圓等紀念銀幣

即將亮相泰星拍賣 ◎ 冠軍研究室〔上海〕

2022年3月上旬，泰星拍賣告知冠軍拍賣總裁周邁可先生， 2022年中國機製幣市場增添

他 們 即 將 於4月29日（ 週 五 ） 在 東 京 國 際 錢 幣 展（Tokyo

新的動力。

賣。第一屆 TICC 於1990 年舉行，周邁可先生曾以“福君

NGC 評 級團隊還為 拍賣中

International Coin Convention，簡稱 TICC）上進行拍

的 重 要 硬 幣 撰 寫了 兩 篇 文

國際”的名字在那裏租賃了展位。

章，包括極為罕見的1927年

據悉，此次拍品中將有許多1971年耿愛德舊藏拍賣會上亮

張作霖像海陸軍大元帥背龍

被納入收藏，保留了原味包漿，品相很好。此前張南琛收

的中國 錢 幣 中最 大 的 亮 點，

相的重要中國錢幣，其中一些錢幣自20世紀70 年代開始便

鳳銀幣。該幣也是此次拍賣

經 評 NGC MS62 ，為耿 愛

藏專場拍賣上很多成交價打破紀錄的錢幣也出自耿愛德舊

藏，品相同樣非常好。NGC 也對這些錢幣進行了評級，並

德舊藏，而且更是耿愛德所

做了相關宣傳，向其超 過7萬名中國和世界錢幣收 藏客戶

著《中國幣圖說 匯考》及 大

收藏家 D.C. 的1972年 Jess Peters 銷售目錄中所載照片的

發送電子郵件，以宣傳此次拍賣。因此，這場拍賣必將給

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原幣，目錄編號 Kann# 687。這枚幣是泰星拍賣創始人崗

年）金本位幣銀質樣幣光邊版。這是最稀有的民國錢幣之

當時 Jess Peters 銷售目錄上的價格為1 850美元。2021年，

幣廠生產，並在上海中央造幣廠鑄造。

政道先生（Masamichi Oka）為他的客人從 D.C. 處購得，

一，也是中央造幣廠發行的第一批鑄幣，鑄幣模由費城造

中國機製幣市場行情超過了2011年的歷史最高點，多個品 類的錢幣紛紛在拍賣場上打破成交紀錄。其中，張作霖像

此外還有非常珍罕的1867年上海壹兩銀幣射線版，具有原

星博物館收藏的民國十七年（1928年）張作霖像壹圓大元

幣中最受藏家喜愛的一種。鑄造該錢幣的是托馬斯 · 金德

紀念幣便是頗為炙手可熱的品類之一。2021年 4月，來自三

味包漿，鑄打深峻。這是在所有西方造幣廠出品的中國樣

帥紀念幣，成為首枚拍賣成交價格突破 200萬美元大關的

（Thomas Kinder）所建的香 港造幣廠。後 來，托 馬斯 ·

中國機製幣 ；2021年12月，一枚中國臺灣張秀青舊藏民國

金德又建設了大阪造幣廠，香港造幣廠的鑄幣設備也出售

十五年（1926年）張作霖像壹圓陸海軍大元帥紀念幣在拍

給了日本。

賣會上以 2599萬人民幣成交⸺ 成為全球拍賣成交價格第

三的錢幣。而在1991年古德曼舊藏拍賣上，這枚民國十五

本次拍賣的另外一個亮點將是1903年戶部一兩銀幣，其鑄

年（1926年）張作霖像壹圓陸海軍大元帥紀念幣價格僅為

模由大阪造幣廠製造。如果您想要構建一個卓越的中國錢

2008年時，該幣以100萬元人民幣的保留價委託上拍，未

的基礎。

27 500美元 ；2007年時的價格不過4 256 000元人民幣 ；

幣收藏，那麼上述由 NGC 評級的精品錢幣都是不可或缺

能成交 ；2017年，該幣以 207萬元人民幣的價格成交。

冠軍拍賣在 20世紀90 年代就與泰星拍賣有著悠久的商業合

另一枚頗為重要的錢幣是耿愛德舊藏民國二十一年（1932

作歷史。我們非常高興能與崗政博先生（Masahiro Oka）

2021年4月拍出的民國十七年（1928年）張作霖像壹圓大 元帥紀念幣，PCGS SP64

2021年12月拍出的民國十五年（1926年）張作霖像壹圓 陸海軍大元帥紀念幣，PCGS SP62

《遠東大型銀幣》 封面及內頁

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2022年3月的《泰 星月刊》封面及內 頁拍賣信息

和泰星拍賣合作，成為他們即將發行的拍賣目錄在大中華

下面，讓我們來欣賞並具體瞭解一下這些珍稀錢幣。文末

區的分銷商。感興趣的藏家可聯繫我們或泰星拍賣以瞭解

還有泰星公司的相關介紹，請勿錯過。

更多信息。

張作霖像壹圓大元帥紀念幣銀幣鑄造於1926至1928年間，

除了拍賣事宜外，我們也正在幫助泰星更新其創始人崗政

應為天津造幣廠鑄造。其背面，1926 年題刻“紀念”二字，

《遠東大型銀幣》（極東の大型銀貨），該書由泰星株式會社

則是最後一個系列，因為張作霖在這一年被暗殺。上述三

道先 生 編著的在 亞洲銀幣收 藏領域非常重要的參 考圖書

1927年版則改成“紀念幣”。1928 年的壹圓紀念銀幣樣幣

《東亞泉志》也將與《泰星月刊》 （Taisei 在1966年首次出版。

版張作霖像壹圓樣幣在中華民國錢幣中都異常珍稀，此次

Monthly）⸺ 日本歷史最悠久且最主要的錢幣出版物交

拍賣的則是其中最為稀少的一種。

換文章。

① 民國十六年（1927 年）張作霖像 壹圓陸海軍大元帥紀念銀幣

民國十六年（1927年）張作霖像壹圓陸海軍大元帥紀念銀 幣，NGC MS62，耿愛德舊藏 《中國幣圖說匯考》與1972年Jess Peters銷售目錄圖片之 原幣

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1972年Jess Peters銷售目錄封面及該幣圖片

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此次將要上拍的該幣淵源能夠最終得以明確，得益於耿愛

銷售目錄中的許多錢幣都是從1971年耿愛德舊藏拍賣上獲

德所著《中國幣圖說匯考》及大收藏家 D.C. 的1972年 Jess

得的。

Peters 銷售目錄中所載照片的原幣。

NGC 通過對比這枚幣與上述兩本目錄中的圖片上的錢幣 包漿特徵，最終確認其為耿愛德舊藏。

能夠被列入錢幣目錄及參考著作中的錢幣必然具有足夠的 重要性，而這點在對錢幣來源做出考證的時候所具有的參

張作霖像壹圓陸海軍大元帥紀念銀幣在《中國近代機製幣

考性遠超於拍賣目錄上的文字說明。

精品鑒賞 第三版》中列為第18名。

耿愛德是很多中國機製幣收藏愛好者和研究者都非常熟悉 的大收藏家，1971年的耿愛德舊藏拍賣也為人稱道。這場

孫中山像金本位樣幣在《中國近代機製幣精品鑒賞 第三版》 中列為第24 名。

拍賣的目錄非常珍貴，很難獲得，每本市場售價更是高達

1 000 美元。而很多藏家不知道的是，1972年 Jess Peters

1867年上海壹兩銀幣在《中國近代機製幣精品鑒賞 第三版》 中列為第14 名。

1903年戶部光緒元寶庫平一兩銀幣在《中國近代機製幣精

品鑒賞 第三版》中列為第21名。

此次拍賣的這枚珍罕的袁世凱 3/4像銀幣鑄打深峻，發絲

細節清晰。1914 年袁世凱像紀念幣中帶 L. Giorgi 簽字的

版本更為珍貴，價格為不帶簽名版的一倍。根據耿愛德《中

國機製幣匯考》，1954 年時，不帶簽字的版本價格為35美

張作霖像陸海軍大元帥壹圓紀念幣包漿及特點

②/③

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耿氏舊藏民國二十一年（1932 年）孫中山像金 本位銀質樣幣光邊版

1867 年上海壹兩銀幣射線版

民國二十一年（1932年）孫中山像金本位幣壹圓銀質樣幣 光邊版，耿愛德舊藏，NGC MS60

1867年上海壹兩銀幣射線版 NGC PF63+

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FEATURES

④/⑤ 戶部光緒（1903 年）元寶庫平一兩銀幣重鑄版

民國三年（1914 年）袁像銀幣 L. Giorgi 簽字版

戶部光緒（1903年）元寶庫平一兩銀幣重鑄版 NGC MS 63

民國三年（1914年）袁世凱像壹圓銀幣 L. Giorgi簽字版，NGC SP61

民國三年（1914年）袁世凱像中圓銀幣 L. Giorgi簽字版，NGC UNC DETAILS

中華民國三年（1914）年袁世凱3/4像壹圓銀幣 帶L. GIorgi簽字，NGC MS62

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⑥ 1906 年光緒年造丙午戶部“中”字大清銀幣壹兩

1906年光緒年造丙午戶部“中”字大清銀幣壹兩，NGC MS61，初鑄版

1906年光緒年造丙午戶部“中”字大清銀幣壹兩，NGC MS64，重鑄版

元，帶簽字版為70美元 ；1966年時，不帶簽字的版本價格

1906年光緒年造丙午戶部戶部“中”字大清銀幣銀質樣幣在

為700美元，帶簽字版為1 400美元。

《中國近代機製幣精品鑒賞 第三版》中列為第36 名。

1914 年袁像壹圓銀幣在《中國近代機製幣精品鑒賞 第三版》 此次拍賣的這枚1907年光緒年造丁未大清銀幣壹圓有著精 中列為第19名。

美的原味包漿，鑄打深峻，好味道。

此次拍賣中有兩枚1906年光緒年造戶部“中”字大清銀幣

1907年光緒年造丁未大清銀幣在《中國機製幣精品鑒賞 第

其中一枚經評 NGC MS61，為初鑄版，版底絲滑，鑄打

1929年（民國十八年）國民政府欲以新國幣取代袁世凱像

糙，但是已知鑄打最為精美的光緒年造丙午戶部“中”字壹

等五國之國家造幣廠雕刻模具，共分六個版別。但這些模

三版》中列為第54 名。

壹兩。這是天津造幣總廠製造的最為重要的錢幣之一。

深峻 ；另一枚經評 NGC MS64，為重鑄版，版底較為粗

及孫像錢幣，於是請美國、奧地利、意大利、英國及日本

兩大清銀幣之一，版底痕跡很少，好味道。

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具最後均未被採用，僅在杭州造幣廠試製了一些樣幣，數量

N

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FEATURES

⑦ 1907 年光緒年造丁未大清銀幣壹圓

1907年光緒年造丁未大 清銀幣壹圓，NGC MS64

⑧ 1929 年中華民國十八年孫中山像帆船壹元銀質樣幣

1929年中華民國十八年孫中山像帆船壹元銀質樣幣 NGC MS60，意大利版，帶A. Motti簽字

J

E

1929年中華民國十八年孫中山像帆船壹元銀質樣幣 NGC MS62，英國版

A

N

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均不多，其中尤以此次拍賣的這種帶 A. Motti 簽字的意大

代機製幣精品鑒賞 第三版》中列為第28名。

利版最為罕見。

1932年鄂豫皖省蘇維埃政府工農銀行造壹圓紀念銀幣為非

而此次拍賣的這枚英國版1929 年孫中山像帆船銀質樣幣經

常少見的早期蘇維埃政府紀念造銀幣中評分最高者之一，

評 NGC MS62 ，鑄打深峻。

但是背面中心略微弱打，但周圍的中文文字鑄打深峻，整 體味道很好。

1929年中華民國十八年孫中山像帆船壹元銀質樣幣在《中

國機製幣精品鑒賞 第三版》中列為第34 名。

1931-1935年中華蘇維埃政府紀念地區銀幣在《中國近代機 製幣精品鑒賞 第三版》中列為第35名。

1914 年袁世凱像中華民國共和紀念幣壹圓銀幣是非常受藏

家喜愛的品類，此次拍賣的這枚鑄打深峻，啞光對比明顯，

這是我們在過去三十年中見過鑄打最為深峻有力的竹子壹

1914 年袁世凱像中華民國共和紀念幣壹圓銀幣在《中國近

中華民國三十八年（1949 年）貴州省造竹子銀幣在《中國近

L. Giorgi 簽字版 1914 年袁世凱像中華民國共 和紀念幣壹圓銀幣

1932 年鄂豫皖省蘇維埃政府工農銀行造壹圓紀 念銀幣

1914年袁世凱像中華民國共和紀念幣壹圓銀幣 NGC SP66，L. Giorgi簽字版

1932年鄂豫皖省蘇維埃政府工農銀行造壹圓紀念銀幣 NGC XF DETAILS

圓銀幣，好味道，NGC 評分非常保守。

好味道。

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FEATURES

⑪ 圓窗版中華民國三十八年（1949 年）貴州省造 竹子壹圓銀幣

中華民國三十八年 （1949年）貴州省造竹 子壹圓銀幣 圓窗版，NGC AU DETAILS

⑫ 中華民國十二年（1923 年）造龍鳳圖壹圓銀幣

中華民國十二年（1923年）造龍鳳圖壹圓銀幣 NGC MS62，大字版

J

中華民國十二年（1923年）造龍鳳圖壹圓銀幣 NGC MS63，小字版

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⑬ 中華民國開國紀念銀幣

1912年黎元洪像開國紀念幣壹圓銀幣 NGC UNC DETAILS

1928年中華民國開國紀念幣壹圓 NGC MS65，人像耳下有一點

代機製幣精品鑒賞 第三版》中列為第38名。

這枚1928年中華民國開國紀念幣是非常少見的一種版別，

中華民國十二年（1923年）造龍鳳圖壹圓銀幣是最受藏家

NGC MS65，是已知品相最好的之一，鑄打深峻，原光飽

大字版龍鳳錢幣要比小字版稀少的多。但是高品相的錢幣

而此次拍賣的這枚黎元洪開國紀念幣有着原味包漿，很久

人像耳下有一點，高分者在該版別中尤為少見。這枚經評

歡迎的民國鑄幣之一，有大字版和小字版兩個版別。

滿，參與此次拍賣是將其收入囊中的好機會。

之前經過清洗，經評 NGC UNC DETAILS 。

情況卻恰好相反，小字版高品相的極為罕見，很少評級分 數能達到 MS65 。

中華民國十二年（1923年）造龍鳳圖壹圓銀幣在《中國近代 機製幣精品鑒賞 第三版》中列為第49名。

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⑭

1912年開國紀念幣在《中國近代機製幣精品鑒賞 第三版》

中列為第41名。

1866 年香港壹圓銀幣光邊版

1866年香港壹圓銀幣是香港造幣廠建廠初年所 鑄造之銀 幣，是為了替代當時在香港流通的墨西哥銀圓而鑄造。但 是國內對其接受度不高，故僅在1866年至1868年間進行了

鑄造。之後香港造幣廠關停，鑄造設備後來被出售至日本， 用於建設大阪造幣廠。

此次 拍賣的這枚是已知品相最好的之一，有着原味包漿， 鏡面對比明顯，且是較為少見的光邊版。

1866年香港壹圓銀幣 光邊版，NGC PF64

⑮ 1920 年中華民國九年造雙面袁世凱像銀幣

1920年中華民國九年造 雙面袁世凱像銀幣 正面帶廠標，NGC MS62

鑄 打深 峻 ；無“紀 念 幣”字 樣 的 光 邊 版 更 為 少見，經 評

這枚雙面袁世凱像銀幣非常少見，正面帶廠標，在1954 年 的耿氏目錄中編號為 K666E 。

NGC AU DETAILS，很久之前曾經過清洗，但味道依然

很好。

此次共有兩枚1921年徐世昌像“仁壽同登”紀念幣。根據《東

1921年徐世昌像“仁壽同登”壹圓紀念幣位列《中國近代

亞泉志》資深編輯史博祿先生的研究，該紀念幣是為了紀

機製幣精品鑒賞 第三版》第44 名。

念小洛克菲勒和洛克菲勒基金會資助建成北京協和醫院而

鑄造。此次帶“紀念幣”字樣的紀念幣經評 NGC MS62 ，

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FEATURES

專題

⑯ 1921 年徐世昌像“仁壽同登”紀念幣

1921年徐世昌像“仁壽同登”紀念幣 有“紀念幣”字樣，NGC MS62

1921年徐世昌像“仁壽同登”紀念幣 無“紀念幣”字樣，NGC UNC DETAILS

⑰ 1923 年曹錕像憲法成立紀念銀章

1923年曹錕文裝像憲法 成立紀念銀章 NGC MS61

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FEATURES

1923 年曹錕像憲法成立紀念銀章

1923年曹錕武裝像憲法 成立紀念銀章 NGC MS62

此次拍賣共兩枚曹錕像紀念章，均有原味包漿。其中文裝

這枚1924 年段祺瑞 像中華民國執 政 紀念 銀幣有着陳舊的

版經評 NGC MS61，武裝版經評 NGC MS62 。

清洗痕跡，經評 NGC UNC DETAILS 。

1923 年曹錕像憲法成立紀念銀章在《中國近代機製幣精品

1924 年段祺瑞像中華民國執政紀念銀幣在《中國近代機製

鑒賞 第三版》中列為第59 名。

幣精品鑒賞 第三版》中列為第52 名。

⑱ 1924 年段祺瑞像中華民國執政紀念銀幣

1924年段祺瑞像中華民 國執政紀念銀幣 NGC UNC DETAILS

此次共有三枚臺灣老公銀餅，品相皆佳，有很多戳記。因

臺灣老公銀餅在《中國近代機製幣精品鑒賞 第三版》中列 為第11名。

此，不論是對戳記幣藏家還是臺灣地區藏家均是很好的收 藏選擇。

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專題

⑲ 臺灣老公銀餅

⑳ 戰國·齊 齊返邦（立長）法化六字刀幣 春秋 即墨之法化五字刀幣

戰國·齊 齊返邦（立長）法化六字刀幣

春秋 即墨之法化五字刀幣

此次泰星拍賣還有兩把廣受藏家歡迎且頗為少見的刀幣，

齊國刀幣中三字道較為常見，是中國早期貨幣和金融歷史

分別是齊返邦（立長）法化六字刀幣和即墨之法化五字刀幣。

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的重要見證。

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FEATURES

左起：M&T銀行公司（M&T Bank Corporation，簡稱MTB）的路易斯·維格多 先生（Luis Vigdor）、 美國熊貓錢幣公司（Panda America）始創人馬丁·韋士 先生、泰星創始人崗政道先生及時任中國人民銀行副總裁的董先生

日本駐中國大使中江要介先生（左） 與崗政道先生

2011年泰星拍賣目錄封面為1991年5 公斤1萬元面值中國熊貓金幣發行十周 年紀念金幣

斯賓克-泰星新加坡聯合拍賣目錄

2022年泰星拍賣目錄

斯賓克-泰星中國香港聯合拍賣目錄

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專題

關於泰星硬幣株式會社 泰星硬幣株式會社成立於1967年 4月，最早在新宿車站大 樓開設泰星新宿零售店。1977年在東京日生會館舉辦泰星

錢幣拍賣會，1982年成為中國人民銀行發行的熊貓金幣日

本總經銷商。泰星株式會社也是日本貨幣商會的加盟團體， 該國國內的錢幣展幾乎都會參與。

2011年，冠軍拍賣為客人從泰星拍賣會上以160萬美元的價

格競得1991年5公斤1萬元面值中國熊貓金幣發行十周年紀

中間為安德烈·德·克萊蒙特先生,右側為周邁可先生 左側為騎士橋硬幣公司（Knightsbridge Coins）的史蒂夫· 芬頓先生（Steve Fenton），他擁有法魯克一世收藏的1933 年美國20美元樣幣，該幣可能是在1944年通過漢斯·舒爾 曼購買。這枚錢幣在2002年的蘇富比拍賣會上以759萬美 元的價格成交，幾乎是之前單枚錢幣拍賣價格紀錄的2倍。 該照片攝於周邁可2017年到訪倫敦時。

念金幣，打破中國現代金銀幣拍賣紀錄。

2017年8月，在公司創立50周年之際，正式成立了全資子公

司泰星拍賣。

但在此之前，泰星便與斯賓克在東京、中國香港、新加坡 等地舉行聯合拍賣會，是世界上主要的錢幣公司之一，在 20 世紀80年代日本繁榮期間更是堪稱最為重要的錢幣公司。

《東亞泉志》曾在 2016年至 2017年間分別對 D.C. 以及斯

賓克公司錢幣部門代表安德烈 · 德 · 克萊蒙特（Andre De

Clermont ）在美國及英國進行採訪，採訪內容即將公佈，

敬請期待！

泰星硬幣株式會社秉持“通過收藏為建設一個富裕社會做

出貢獻”的企業理念。據聞，泰星創辦人崗政道先生於20

世紀80 年代初到訪洛杉機探望女兒，在美國熊貓錢幣公司

始創人馬丁 · 韋士先生日籍妻子開設的餐廳裏認識了馬丁，

左起：陳景林、周邁可、大衛·卡梅隆（David Camire）、 羅伯特·米什（Robert Mish）、崗政博、馬丁·韋士

並首次向他提出以中國熊貓作為中國投資金幣圖案的設想。 從此他的商業之旅翻開嶄新的一頁，與美國熊貓錢幣公司、

MTB 和 MDM 組成了“熊貓幣壟斷聯盟”。崗政道先生獲

得2015年“尼克 · 布朗錢幣貢獻獎終身成就獎”，崗政博先

《泰星月刊》 （Taisei Monthly），還主辦過多次現場拍賣會。

生代其父親領獎。

《泰星月刊》不僅出售給知名收藏家，還通過大型百貨公司

和銀行系統內部銷售。 《東亞泉志》在之後的期刊中也會轉

泰星的蓬勃發展離不開崗政道先生的積極開拓。他曾參與

載《泰星月刊》上的有趣文章。

多本錢幣數目的編撰工作，如《遠東大型銀幣》和日版的理

查德 · 約曼（Richard S. Yeoman）《美國錢幣指南手冊》。 崗政道先生還是日本地區世界貨幣的主要收藏者，標準參

崗政道先生在日本錢幣收藏中創新之舉非同尋常。他周遊

代世界硬幣》（Modern World Coins）都離不開其所做的

得泰星成為第一家向日本公眾推出並積極推廣世界貨幣的

世界，與經銷商、銀行和造幣廠建立盡可能多的聯繫，使

考書《世界金幣》 （Gold Coins of the World）以及新版《現

公司。這在當時是革命性的，自此泰星不僅銷售錢幣，公

貢獻。

司還承擔了很多完整的錢幣項目，包括奧運會紀念幣和其 他許多項目。

泰星的經營以批發、零售和網購為主，並岀版泰星錢幣雜誌

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不久，日本成為世界上最活躍、最令人興奮的硬幣市場之一。 泰星也是中國珍稀錢幣領域的早期開拓者之一，於1986年 在新加坡、1988年在東京，以及1991年在中國香港地區與

斯賓克一起舉辦了中國錢幣拍賣會，曾是全世界最大的錢 幣公司之一，業務遠及瑞士。

泰星株式會社是最早為中國推廣金銀幣的海外經銷商之一， 除了熊貓金銀幣外，令人印象深刻的還有珍稀野生動物系 列和《三國演義》系列紀念幣等。

20世紀80年代末至90年代初，正值日本經濟鼎盛榮時期，

股票和房地產價格均升至頂點。 當時該國民眾收入猛增而 且出手闊綽，所以1987年由朱純德先生設計的第一枚大規 格5盎司中日友好紀念金章也誕生了。

從左至右：崗政道先生（泰星郵幣株式會社創始人，現已 變更為泰星硬幣株式會社）及其合作夥伴吳清亮先生（新 加坡吳德南集團創始人）、謝大民先生（泰國蔔蜂集團創 始人之子）

當時《讀賣新聞》還以頭條報道介紹這枚熊貓金章，標題為

“忘掉股票，購買熊貓金章”，後來證明這個媒體戰略提高

了銷量，發行量1 500 枚的“童童”5盎司金章和5 000 枚的

1盎司金章全部售罄。銷售現場大排長龍，最後泰星公司不 得已再向歐美經銷商回購已分銷出的金章。

日文版及英文版《現代世界硬幣》

1982年熊貓紀念金幣

1983年熊貓紀念銀幣

1987年中日友好紀念金章

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專題

2021 Chinese Coin Market Review Part II

⸺ Market Outlook of 2022 ◎ Champion〔Shanghai 〕

In 2021, the Chinese vintage coin market hit a new high. Against this backdrop, the main question we are going to discuss is whether the Chinese coin market will continue to go up and reach new heights in 2022. In this regard, we believe when the rarest coins appear on the market, new collectors and investors will enter, thus pushing the coin market to new highs. Although record auction prices were recently achieved for Chinese vintage coins, no absolute great rarities appeared on the auction market.

1898 Heaton Hunan Silver Dollar, NGC SP67, Nelson Chang Collection

In 1971, the 1903 Fengtien Silver Tael realized $3,000 at the Kann Collection auction, as the first traceable auction record for this Chinese coin; in 1975, the 1898 Heaton Hunan Silver Dollar broke the record, realizing $15,500 - more than five times the record set by the Fengtien Silver Tael, as the first Chinese coin to break the $10,000 mark. In 2010, the Yunnan Spring Dollar became the first Chinese coin to break the $1,000,000 barrier; in 2011, Champion bought the 1991 5 kg 10,000 Yuan Chinese Panda gold coin commemorating the 10th anniversary of its issuance for $1.6 million from Taisei Auction, Japan; in the same year, the 1992 1 kg 2,000 Yuan Chinese Compass coin commemorating ancient Chinese inventions, graded by NGC at PR69, realized $1,298,000. Champion Auction also sold a 1 kg

Yunnan Spring Dollart

Compass gold coin in 2013. Among the above-mentioned coins, only 6 Heaton Hunan Silver Dollars are known; only 4 Yunnan Spring Dollars are known;

by a Japanese Meiji Year 3 1870 20 Dollar Gold Coin purchased

and the mintage of both the 1991 5kg Chinese Panda Gold Coin

by Masamichi Oka, the founder of Taisei Coins of Tokyo and

and 1992 1kg Compass Gold Coin is 10 for each. All these can

one of the leading buyers at the Kann Collection auction.

be considered great Chinese coin rarities. The second highest price of $4,400 was achieved by the Taisho

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There were also coins from other countries at the 1971 Eduard

Year 4 Dollar with the portrait of Manchukuo Emperor Puyi,

Kann Collection auction. The top price of $6,500 was achieved

and was purchased by Hans Schumann of New York. Hans

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FEATURES

1992 1 kg 2,000 Yuan Chinese Compass Gold Coin commemorating the ancient Chinese inventiont

1991 5 kg 10,000 Yuan Chinese Panda Gold coin commemorating the 10th anniversary of its issuancet

Japanese Meiji Year 3 1870 20 Dollar Gold Coin

1903 Fengtien Silver Tael

Taisho Year 4 Dollar with the portrait of Manchukuo Emperor Puyi dollar Only two are known, and this one is in better condition

PCGS AU55, Eduard Kann/Irving Goodman collection

Schumann had served and found many rare coins for King

coin and wanted to sell it for $250. Michael Chou told Karp that

Farouk of Egypt - one of the most remarkable collectors.

the coin was in fact a great rarity. The coin was then consigned for auction at the upcoming Taisei Hong Kong auction. In the

Many years later, Michael Chou saw this coin at the New York

end, Michael Chou bought it for his friend, J.S. Lee ( 李振興 ), a

International Coin Show and the widow of Hans Schulman had

famous coin dealer from Taiwan, China, for nearly US$20,000.

consigned it to a New York coin dealer, Jules Karp, who was also a close friend of Michael Chou, to sell it as a Chinese fantasy

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The Fengtien Silver Tael, which sold for $3,000 and broke

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1972 Jess Peters Sales List

LOT 8 1890 Kweichew “Qian” Silver Dollar

LOT 591 1867 Shanghai Silver Tael with rays LOT 5921867 Shanghai Silver Tael without rays LOT 593 1867 Shanghai Silver Two Mace LOT 594 1884 Kirin Arsenal Series LOT 599 1890 Shanxi Silver Dollar LOT 600 Maritime Customs Silver Tael

LOT 478 1929 Sun Yat-Sen Junk Silver Dollar

the auction record for Chinese coins at the 1971 Eduard Kann Collection auction, was purchased by Irving Goodman and then auctioned at the 1991 Goodman Collection Auction, where it was purchased by Chen Chi Mao ( 陳吉茂 ) of Taiwan for Haru Chang ( 張秀青 ) of Taiwan for $187,000. LOT 523-525 Yuan Shih-Kai Large Bearded Silver Dollar , three different varieties

After the Goodman Collection auction, the market for Chinese

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coins gradually declined, and many coins later traded hands between dealers below the original auction prices. This was also the case after the 1971 Kann Collection auction. The American collector D.C. was one of the largest buyers at the 1971 Eduard Kann Collection auction (the other two large buyers at that auction were Masamichi Oka and Goodman), and all of his purchases at that auction were placed in the 1972 Jess Peters sale list along with his own collection. It is a truly 1902 Chekiang Kaishu Silver Dollar

amazing achievement for D.C., as he was only in his twenties at the time. Michael Chou interviewed D.C. several times in 2016 and 2017 about his collection of Chinese coins from the 1960s to the 1980s. We will publish the interview in the following issues

independent auctioneer to sell Chinese coins in the Asian market,

of The Journal of East Asian Numismatics .

with auctions held in Hong Kong, Macau and Taiwan, China.

This list is probably the most remarkable catalog since the

The Chinese coin market went downward from 1998 to 2006.

Chinese coins officially entered the international coin market. It

During this period, the strongest buyer in the Chinese coin field

contains a 1902 Chekiang Kaishu Silver Dollar, a Kwangtung

was the Samsung Museum Collection in Korea, to which we

“Longevity” Silver Tael, two 1867 Shanghai Silver Tael coins

sold many rare Chinese coins through K.I. Lee, the founder

(with rays and without rays), a Shanghai 1867 Silver Two Mace,

of Hwadong. In 2021, the coins from the Samsung Museum

1929 Sun Yat-Sen Globe Silver Dollar, 1926 and 1927 Chang

Collection appeared at auction, setting many records.

Tso Lin Silver Dollars, 1890 Kweichew “Qian” Silver Dollar, 1929 Sun Yat-Sen Junk Silver Dollar, Yuan Shih-Kai Large

The Chinese vintage coin market was strong again from the

Bearded Silver Dollar of three different varieties, Maritime

spring of 2007 to the summer of 2008, and then began to decline

Customs Silver Tael, 1890 Shanxi Silver Dollar, 1884 Kirin

in 2008 due to the global financial crisis. By December 2008,

Arsenal Series, etc. Unfortunately, the sale was not successful,

prices were only 2/3 of those in April of the same year. During

and most of the coins in the catalog remained unsold years after

2008, wonderful coins from the Chinese Family Collection and

the list was released. In 1975, Chang Huang helped D.C. to sell

Norman Jacobs appeared on the market, so another wonderful

the rare coins in this list. Chang Huang sold many of the coins

buying opportunity appeared like the 1971 Kann Collection

to Goodman and Nelson Chang ( 張南琛 ) at the newly opened

auction and the 1991 Goodman Collection auction.

McDonald's restaurant in Hong Kong, and D.C. also sold some of the coins to Liu Gaizao ( 劉改造 ) and Haru Chang in Taiwan,

Two years later in 2010, the Ultima Collection auction was

through J.S. Lee.

held. At this auction, the 1910 Yunnan Spring Dollar broke the Chinese coin auction record and became China's first coin to

Nelson Chang once told Michael Chou that the two famous

sell above US$1 million. Driven by new investors, we had a

auctions in 1971 and 1991 were great opportunities to buy

huge growth in interest and prices of both Chinese vintage and

rare coins, because after many top-quality coins appeared at

modern coins towards the end of December 2011.

these auctions, they were rarely seen on the market again. As collectors were interested in these rarities, their prices were often

From 2012 to 2014, the Chinese coin market saw a sharp decline.

higher than the expected market price.

However, Champion Auction sold coins from the Nelson Chang Collection to some important collectors during this period, many

In this way, if a collector or coin dealer bought some coins at

of which are rare coins in the best known condition, such as the

the 1991 Goodman Collection auction but sold them between

Heaton Hunan Silver Dollar and Silver Half Dollar, 1929 Sun

1991 and 1995, he or she would have suffered a loss during that

Yat-Sen Globe Silver Dollar, and the Italian variety of the 1929

downward market period. Between 1995 and 1997, the Chinese

Sun Yat-Sen Junk Silver Dollar with the A. Motti signature.

modern coin market boomed, pushing coin market prices significantly higher, and Champion Auction was established

In 2015, Champion held an auction of the Nelson Chang Chinese

in Hong Kong, China in 1996, as one of the largest market

coin collection and an auction of the Tanant Collection in

participants during this period. Champion Auction is the first

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1971 Eduard Kann Collection Catalogue

1991 Goodman Collection Catalogue

6/2008 Champion Auction Chinese Family Collection Highlights Catalogue

2010 Champion Ultima Collection Auction Catalogue

1929 Sun Yat-sen Globe Silver Dollar

The Italian variety of the 1929 Sun Yat-Sen Junk Dollar with A. Motti signature

Macau, and in August 2016, an auction of the Howard Bowker

From 2017 to 2019, the Chinese coin market showed slow

Collection in Hong Kong, which attracted many buyers who had

growth; it started to increase in 2020; and by 2021, the auction

not previously attended the auction. Many of the lots from these

and transaction prices of most coins started to break records.

two auctions set price records.

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both buyers and sellers want the process to be more private. For example, more than two-thirds of Nelson Chang's coin collection was bought through private transactions, for which he paid significant prices to some of the top coin dealers who found the coins on his want list. His father Nai-chi Chang ( 張 叔馴 ), known as “the King of Ancient Coins” who built a huge collection, also liked to collect coins through top coin dealers and their networks. Also, the famous numismatist Howard Bowker once visited Nai-chi Chang's office in New York in the 1940s, which is evidenced by the relevant correspondence and the Bowker family later presented the correspondence to Nelson Chang as a gift.

8/2016 Bowker Collection Auction

For sellers who may face the challenge the turnaround time required for auctions, private transactions allow them to have immediate access to funds and protect the privacy of the transaction. The price of many great rarities can also be more reasonable in private transactions for both buyers and sellers based on historical data. It would not be surprising to see a single Chinese coin of great rarity to be sold for RMB 30 million or US$5 million in the next three to five years. Likewise, it would not be surprising to see private transactions begin to flourish in the future.

1911 Long-Whisker Dragon Silver Dollar, NGC MS64 Champion auctioned the coin for $1,344,000 on May 2021, breaking the auction record.

Taiwanese collectors have gathered many great Chinese rarities. In the past few months at the beginning of 2022, Michael Chou was in Taiwan and met and communicated with many collectors. Although the recent dramatic increase in coin prices, many collectors still keep enriching their collections with unabated enthusiasm, and they will be more selective in their purchases and may have a preference for coins from certain regions. For example, some senior collectors have started collecting coins used along the Silk Road and Japanese coins. In the near future, some institutions will become interested

1908 Chihli Silver Dollar, NGC MS65 Champion auctioned the coin for $234,000 on May 2021, breaking the auction record.

in Chinese coins as the Samsung Museum in South Korea had previously done. These institutions, including the Bank of Shanghai Museum and the Tyrant Collection in the U.S., purchase coins and banknotes to show the financial history

Since 2021, many auction companies have begun to realize the

behind them. The owner of the Tyrant Collection hired one

growth of Chinese vintage coins and have started to enter the

of the six founders of a major grading firm, and the former

Chinese market. We believe that the prices of some coins with

executive director of the American Numismatic Society in New

unusual growth in demand will adjust to a more reasonable range

York, as his advisor to build his collection. Blackstone Group

in 2022, such as the 1908 Empire Silver Dollar, the 1911 Empire

of New York entered the collectibles market in 2021 with the

Silver Dollar and the 1908 Chihli Silver Dollar, while rare coins

acquisition of CCG of Florida. CCG's senior management team

will still have a bright performance at auctions.

members remained with the company to continue to drive their numismatic business, including NGC Chairman Mark Salzburg,

There will also be more private transactions for rare coins, as

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Steven Eichenbaum, and President Max Spiegel. We expect that after this acquisition, the Chinese coin collecting will be better recognized by the domestic and international numismatic community. It is possible that a fund managed by Blackstone will also enter the numismatic market, which is certainly very exciting for both the Chinese numismatic and collectible markets. In February 2021, Steve Cohen of New York acquired California Collector Universe and Nat Turner succeeded as president of sports card grading company PSA. Its newly formed Collector Holdings acquired Goldin Auction of New Jersey, the top U.S. sports card auction house with more than $500 million in

Tyrant Collection

annual sales, in July 2021. The artificial intelligence technology company Genamint, which grades sports cards, was also acquired by Collector Holdings. The acquisition intention of the company's executives was clear, that is, to expand its core sports card business, increase its investment in appraisal company PSA and add new employees. For Champion Auction, we will continue to focus on the field of numismatic research and expand the support and cooperation with museums, banks and other institutions in the exhibition of coins. Also, we will give more assistance to numismatic research authors and collectors in the writing of numismatic articles and books. We are very optimistic about Chinese coin collecting and hope to continue to build a bridge between East and West in the

Chinese coin dies made by Otto Beh were handed over to the Moritzburg Museum Group photo on February 5, 2016 (From left:) Ulrich Künker, Wulf Dreger, curator of coins at the Moritzburg Museum, Robert Mish, Michael Chou, Christian Philippson, president of the Castle Foundation

field of coin collecting and to stimulate collectors' interest. We look forward to seeing the Otto Beh Chinese coin dies on display at the Moritzburg Museum with the help of Künker Auctions. We also hope to work with Künker Auctions on more exciting projects in Germany, which will certainly make Chinese coins more interesting to the international market. Prior to that, the National Numismatic Collection will hold the Big Money exhibition, which will officially open at the Smithsonian National Museum of American History on June 8, 2022. This newly launched numismatic exhibit, designed to promote understanding of coins among children ages 6 to 12, will be sponsored by the Howard Bowker Numismatic Research Fund and Michael Chou. Michael Chou also plans to attend the opening of the Great Numismatic Exhibition in June with members of the Bowker family. Given that the Baltimore Whitman Coin & Collectibles Expo will be held immediately following this event and in close proximity to each other, it is likely that the show will be filled with top coin dealers,

Moritzburg Museum, Germany

collectors and researchers.

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Michael Chou with John Gray, representative of the Bowker family and director of the museum, at the annual dinner of the Smithsonian National Museum of American History in May 2017

Bowker family representatives at the National Numismatic

Mateo Zhao, NGC Vice President of Asian Business Development, speaking at the 2021 MNS Annual Show and Seminar, with grade school students, principal and teachers attending the event

Michael Chou (center) and David Chio (second from the right) with the principal and teachers of the grade school

Collection Vault, May 2017

Also starting in 2022, Champion will start a 5-year partnership with the Macau Numismatic Society (MNS) for Champion to fund the promotion of numismatics to Macau grade schools, by purchasing numismatics material, making talks, and launching scholarships to each school. At the MNS Annual Show, the grade school children will be invited to attend the show and also the seminar. We hope this will help promote numismatics to the kids and they may become collectors in the future. Finally, we look forward to seeing you all at the upcoming numismatic fair and the an MNS Annual Show in November

The Opening Ceremony of the 2020 Macau Numismatic Society Annual Show

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2021 年中國錢幣市場回顧 第二部分

⸺ 2022 年市場展望 ◎ 冠軍研究室〔上海〕

2021年，中國機製幣市場創下新高。在此背景下，我們所

要 探討的主要問題便 是⸺ 中國錢幣 市場 行 情是 否會在

2022年繼續升溫並達到新的高度。

對此，我們的觀點是，當最為珍稀的錢幣現世，便會有新

的藏家和投資者進入市場，從而將錢幣市場行情推向新高。 雖然中國機製幣拍賣價格屢破歷史紀錄，但是近期並沒有 真正具好品相且極為珍罕的錢幣出現在拍賣市場上。

1971年耿 愛 德 舊 藏 拍賣會上，1903年 奉 天省造癸卯光 緒

元寶庫平重一兩銀質樣幣（“奉天一兩”）創造了第一個可溯

1898年喜敦版湖南省造光緒元寶庫平七錢二分銀質樣 幣，NGC SP67，張南琛收藏

的中國錢幣拍賣紀錄，以 3 000美元的價格成交 ；1975年，

1898年喜敦版湖南省造光緒元寶庫平七錢二分銀質樣幣打

破了這一紀錄，以15 500美元的價格成交⸺ 超過“奉天

一兩”創造的價格紀錄的5倍，成為首枚突破10 000美元 大關的中國錢幣 ；2010 年，雲南省造庚戌春季宣統元寶庫

平七錢二分樣幣成為第一枚百萬美元的中國錢幣 ；2011年， 冠軍拍賣為客人從日本泰星拍賣會上以160萬美元的價格買

下了1991年5公斤10 000元面值中國熊貓金幣發行十周年紀

念金幣 ；同年，1992年1公斤2 000元面值中國古代發明發 現指南針紀念金幣也以超過100萬美元價格成交，該幣經

評 NGC PR69，以129.8萬美元的價格成交，冠軍拍賣也

雲南省造庚戌春季宣統元寶庫平七錢二分樣幣

以上提到的幾枚錢幣中，喜敦版湖南省造光緒元寶庫平七

而在1971年 耿 愛 德 舊 藏 拍賣 上，還有一 些 來自其他 國家

曾在 2013年拍出過一枚1公斤指南針紀念金幣。

錢二分銀質樣幣已知僅6枚 ；雲南省造庚戌春季光緒元寶庫

的 錢 幣，其中成 交價 格 最高 的 是1870 年大日本 明 治三年

周年紀念金幣和1992年1公斤中國古代發明發現指南針紀念

（Masamichi Oka）以6 500美元的價格買下，他也是這場

平七錢二分樣幣已知僅4枚 ；1991年5公斤中國熊貓發行十

貳拾圓金幣，被來自日本泰星拍賣公司創辦者崗政道先生

金幣鑄造量各為10枚，這些都可以被稱之為錢幣中的大珍。

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1992年1公斤中國古代發明發現指南針紀念金幣

1991年5公斤中國熊貓金幣發行十周年紀念金幣

1870年大日本明治三年二十圓金幣

1915年大日本大正四年溥儀肖像幣 已知僅兩枚，該枚品相較好

1903年奉天省造癸卯光緒元寶庫平重一兩銀質樣幣 PCGS AU55，耿愛德/古德曼舊藏

取得該場拍賣成交價格第二名的是1915年大日本大正四年

多年之後，周邁可先 生曾在 紐 約國際 錢幣展 上看 到過 這

Schumann）以4 400美元的價格買下。漢斯 · 舒爾曼曾服

的幣商，亦是周邁可先生的好友 朱爾斯 · 卡普先生（Jules

很多珍罕錢幣。

交。而周邁可先生告訴卡普先生這枚幣實則是大珍。於是，

溥儀肖像幣，被紐約的著名幣商漢斯 · 舒爾曼先生（Hans

枚 錢 幣，漢 斯 · 舒 爾曼 先 生 的遺 孀 將這 枚 幣 委 託 給 紐 約

Karp），作為中國臆造幣出售，並希望以 250美元的價格成

務於埃及法魯克王⸺ 最了不起的藏家之一，為他找尋到了

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1972年Jess Peters銷售目錄

LOT 8 光緒十六年貴州官爐造黔寶銀幣

LOT 591 上海壹兩射線版銀幣 LOT 592 上海壹兩無射線版銀幣 LOT 593 上海貳錢銀幣 LOT 594 1884年吉林廠平銀幣 LOT 599 光緒十六年山西官爐造足紋一兩 LOT 600 中外通寶銀幣

LOT 478 中華民國十八年孫中山像帆船銀幣

LOT 523-525 3種不同的袁世凱大鬍子像中華民國開國紀念幣樣幣

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該幣被委託在即將進行的泰星中國香港拍賣上開拍。最終， 周邁可先生為其另一位好友⸺ 中國臺灣著名幣商李振興 先生，以近 20 000美元的價格買下。

那枚以 3 000美元成交並打破中國錢幣拍賣紀錄的“奉天一

兩”則在1971年耿愛德舊藏拍賣上被古德曼先生（Irving

Goodman）買下，並於1991年的古德曼舊藏拍賣上再次 亮相，經由中國臺灣的陳吉茂先生為中國臺灣的張秀青先 生以187 000美元的價格買下。

1902年楷書浙江省造光緒元寶庫平七錢二分銀幣 如此一來，如果一位藏家或者幣商在1991年古德曼拍賣會

在古德曼拍賣結束之後，中國錢幣市場行情逐漸下滑，很

多錢幣不斷在幣商間轉手，價格則不及其原來拍賣成交的

上買下了一些錢幣，但是在1991年至1995年之間將其賣出，

過一次。

1995年至1997年，中國現代幣市場蓬勃發展，將錢幣市場

價格。而這樣的情況在1971年耿愛德舊藏拍賣上也曾出現

那麼 很有可能會在 那 段向下的 市場 行 情中蒙受 損 失。在

價格大幅推高，冠軍拍賣也在1996年於中國香港成立，成

美國藏家 D.C. 是1971年耿愛德舊藏拍賣上最大的買家之

為這一時期的最大市場參與者之一。現在，冠軍拍賣是最

一（該場拍賣上另兩位大買家是崗政道和古德曼），他在這

早在亞洲市場拍賣中國錢幣的獨立拍賣商，在中國香港、

場拍賣會上買到的所有藏品都被和他自己的藏品一起放入

澳門和臺灣均有拍賣舉行。

了1972年 Jess Peters 銷售目錄，而 D.C. 當時才二十幾歲，

如此成就確實令人驚歎。周邁可先生在 2016年和2017年對

中國錢幣市場在1998年至 2006年行情下行。期間，中國錢

其進行了幾次採訪，瞭解了其自20世紀60 年代至80 年代收

幣領域最強勁的買家是韓國三星博物館收藏，我們通過華

東公司創辦人李健一先生（K.I. Lee）向該收藏出售了很多

藏中國錢幣的故事。我們將在之後的《東亞泉志》中刊載。

珍罕的中國錢幣。2021年，三星博物館收藏的錢幣現身拍

這本目錄可能是中國錢幣自正式進入國際錢幣市場以來最

賣，創造了多項紀錄。

緒元寶庫平七錢二分銀幣、廣東省造壽字壹兩銀幣、1867

2007年春至 2008年夏，中國機製幣市場行情再度走強，至

為了不起的一本銷售目錄，上面有1902年楷書浙江省造光

年上 海 壹 兩（ 有 射 線 版 和 無 射 線 版 ） 和 上 海 貳 錢 銀 幣、

2008年因金融危機影響而開始下滑。2008年12月時，類似

1929年孫中山像地球銀幣、1926和1927年張作霖像銀幣、 錢幣的價格僅為同年 4月的2/3。2008年，華人家族收藏和

諾曼 · 雅克布收藏（Norman Jacobs）的精美錢幣亮相市場。

光緒十六年貴州官爐造黔寶銀幣、中華民國十八年孫中山

正面像帆船銀幣、3枚袁世凱大鬍子像中華民國開國紀念幣、

這幾場拍賣和1971年、1991年的那兩場拍賣一樣，都是購

中外通寶銀幣、光緒十六年山西官爐造足紋一兩、1884 年

買錢幣的大好時機。

成功，目錄上的大多數錢幣在目錄面世多年後仍未售出。

時隔兩年至 2010 年，Ultima 收藏拍賣舉行。這場拍賣上，

幣。張璜在中國香港新開的麥當勞餐廳裏將其中很多錢幣

中國錢幣拍賣紀錄，成為中國的第一枚百萬美元錢幣。至

給了中國臺灣的劉改造和張秀青。

金銀幣市場的興趣不斷高漲，價格不斷趨高。

張南琛先生曾告訴過周邁可先生，1971年和1991年的那兩

2012年至 2014 年，中國錢幣市場行情急劇下滑。但冠軍拍

吉林廠平銀幣，等等。遺憾的是，這場銷售活動並未取得 到了1975年，張璜開始幫助 D.C. 出售這本目錄上的珍稀錢

1910年雲南省造庚戌春季光緒元寶庫平七錢二分銀幣打破

賣給了古德曼和張南琛。D.C. 也通過李振興將部分錢幣賣

2011年前，新投資者進入，驅使大家對中國機製幣和現代

場著名拍賣都是收穫錢幣的大好機會，因為在很多高品質

賣在這段時間向一些重要藏家出售張南琛收藏的錢幣，其

但是藏家們都對這些珍罕品很感興趣，因此其價格往往高

元寶庫平七錢二分銀幣和三錢六分銀幣、1929 年孫中山像

的錢幣那時亮相市場之後，便很少能看到它們再次出現，

中有很多是已知品相最好的珍品，如喜敦版湖南省造光緒 地球銀幣、1929 年意大利版 A. Motti 簽字銀幣，等等。

於市場預期價格。

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1971年耿愛德舊藏目錄

冠軍2008年6月拍賣目錄

1991年古德曼舊藏目錄

華人家族收藏精品錢幣

1929年孫中山像地球銀幣

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1996年冠軍拍賣目錄

冠軍2010年Ultima收藏拍賣 目錄

1929年意大利版A. Motti簽字銀幣

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和成交價格打破紀錄。

2021年，很多拍賣行已經開始意識到中國機製幣在收藏市

場中的增長態勢，並開始進入中國市場。我們認為，一些

需求增長異常的錢幣的價格在 2022年會有所調整，如1908

年大清銀幣、1911年宣三銀幣和1908年北洋局造一圓等錢

幣的價格會調整到更為合理的區間。而珍罕錢幣仍將在拍 賣會上有亮眼的表現。

但是，也會有更多針對珍稀錢幣的私人交易，因為買賣雙 方都希望交易過程能夠更為私密。例如，張南琛先生收藏

2016年8月包克收藏拍賣現場

的錢幣中超過 2/3是通過私人交易買下的，為此他向一些

可以找到其願望清單上錢幣的頂級幣商支付了不菲的價格。 其父親⸺ 建立了龐大收藏的古錢大王張叔馴先生也喜歡 通過頂級幣商及其網路收藏錢幣。著名錢幣研究學者霍華

德 · 包克曾在 20世紀40 年代時到訪過張叔馴位於紐約的辦

公室，這一點有相關信箋可以佐證，之後包克家族將相關 信件作為禮物曾贈給張南琛先生以緬懷。

對於賣家而言，他們需要面對拍賣所需的周轉時間，而私

下交易可以讓他們立刻獲得資金，並且保護了交易的私密

1911年大清銀幣長須龍壹圓，NGC MS64 冠軍2021年5月拍賣以1 344 000美元成交，打破拍賣紀錄

性。很多錢幣大珍也可以在私人交易中基於歷史數據，達 成一個對於買賣雙方都更為合理的價格。如有單個中國大 珍 錢幣的成 交價格在 未來 3至5年內達 到3000萬人民幣或

500萬美元，那也毫不令人意外。同樣地，今後私人交易開

始盛行不會是一件令人驚訝的事情。

中國臺灣聚集了很多中國錢幣大珍。在剛剛過去的2022年 開始的兩個月中，周邁可先生一直在臺灣地區，並和很多收

藏家見面交流。近期錢幣價格大幅度上漲，很多藏家豐富 自己收藏的熱情不減，但是他們在購買的時候會更加精挑 細選，可能會對某些地區的錢幣有所偏好，例如有一些資

1908年造幣總廠光緒元寶庫平七錢二分銀幣，NGC MS65 冠軍2021年5月拍賣以234 000美元成交，打破拍賣紀錄

深藏家已經開始收藏絲路沿線錢幣和日本錢幣。

之後的一段時間裏，一些機構也會如此前韓國的三星博物 館一樣對中國錢幣感興趣。他們購買錢幣和紙鈔是為了展

2015年，冠軍在中國澳門舉行了張南琛收藏拍賣和譚安收

示其背後的金融歷史背景，類似的機構包括上海銀行博物

藏拍賣，2016年8月，又在中國香港舉辦了霍華德 · 包克收

館 和美國的 Tyrant 收 藏。Tyrant 收 藏的所有者雇傭了某

藏拍賣，吸引了很多此前未曾參加過拍賣的買家，這兩次拍

主要評級公司的六位創始人之一，以及紐約的原美國錢幣

賣諸多拍品刷新成交價格紀錄。

學會執行董事，作為其顧問，建立了自己的收藏。

2017年至 2019年，中國錢幣市場行情呈現緩慢增長態勢 ；

紐約的黑石集團在 2021年進入收藏品市場，收購了佛羅里

2020年開始增幅加大 ；至 2021年，大多數錢幣的拍賣紀錄

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達的 CCG 集團。CCG 的所有的高層管 理團隊都留在了

公司，繼續推動他們的錢幣業務，包括曾與周邁可先生合

作多年的 NGC 董事長馬克 · 薩爾茨堡（Mark Salzburg ）、 首席執行官史蒂文 · 艾森鮑姆（Steven Eichenbaum）和總

裁麥克斯 · 斯皮格爾（Max Spiegel）。我們期待着在這場 收購之後錢幣收藏品會得到國內外錢幣界更好的認可。可 能黑石集團管理的基金也會進入錢幣市場，這一展望無疑 對中國錢幣和收藏品市場都非常令人振奮。

2021年2月， 紐 約 的 史 蒂 夫 · 科 恩（Steve Cohen） 收 購

了 加 州 Collector Universe 公 司， 且 奈 特 · 特 納（Nat

Turner） 繼 任 運 動 卡 鑒 定 公 司 PSA 的 總 裁 一 職。 其 新

Tyrant收藏

成 立 的 Collector Holdings 公 司 在 2021年7月 收 購了 美

國頂尖的運動卡拍賣公司⸺ 新澤西州的戈爾丁拍賣公司

（Goldin Auction），該拍賣行年成交額超過5億美元，對 運動卡進行評級的紐約人工智慧科技公司 Genamint 也被

其收購。該公司高層的收購意圖非常明確，那就是要拓展 其運動卡核心業務，加大對鑒定公司 PSA 的投資，並增加 新的員工。

對於冠軍拍賣而言，我們之後將繼續專注於錢幣研究領域， 並擴大我們現在和多家博物館、銀行等機構在錢幣展出方 面的支持和合作，也會為錢幣研究作者和收藏者在錢幣文 章和書籍撰寫提供更多的幫助。我們對中國錢幣收藏品持

非常樂觀的態度，希望能夠繼續為東西方在錢幣收藏領域

奧托·拜赫德製中國幣模移交莫裏茨堡博物館 合影於2016年2月5日 （左起：）烏爾裏希·昆克、莫裏茨堡博物館錢幣館館長 伍爾夫·德雷格爾、羅伯特·米什、周邁可、古堡基金會 會長克裏斯蒂安·菲利普森

構建起一座橋樑，激發收藏者的興趣。

我們期盼在昆克拍賣的幫助下，在莫裏茨堡博物館看到奧 托 · 拜赫德製中國幣模的展出。我們也希望能和昆克拍賣

在德國開展更多振奮人心的項目，這一定會讓國際市場對 中國錢幣更感興趣。

在此之前，美國國家錢幣收藏推出的大錢展（Big Money） 將於2022年 6月8日在 美國史密森國家 歷 史博 物 館正 式開

幕。這場新推出的錢幣展旨在促 進6歲至12歲兒童對錢幣 的瞭解，將由霍華德 · 包克錢幣研究基金和周邁可先生提

供贊助。周先生也計劃和包克家族成員共同在6月出席錢幣

大展開幕式。鑒於巴爾的摩錢幣場將緊接著這場活動舉行， 且場地相距不遠，想必這場展覽現場將會聚集很多頂級幣 商、藏家和研究者。

冠軍拍賣也將自2022年起和澳門錢幣學會開啟為期5年的

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2017年5月，周邁可先生與包克家族代表及博物館館長約 翰·蓋瑞（John Gray）合影於美國史密森國家歷史博物館 年會晚宴

2017年5月，包克家族代表在美國國家錢幣藏集保險庫

NGC亞洲業務拓展副總裁趙振陽先生在2021年澳門錢幣學 會及研討會上發言，澳門的小學生和校長及老師一起參加 活動

周邁可先生和趙康池先生（右2）與小學校長及老師合影

合作，在澳門的小學推廣錢幣知識，為學校購買錢幣和紙

鈔實物、相關書籍，舉辦講座，以及發放獎學金提供資助。 在一年一度的澳門錢幣學會年展上，這些小學生將被邀請

參加展覽和研討會。我們希望這些舉措有助於向孩子們普 及錢幣知識，因為他們將來都有可能會成為錢幣收藏家。

最後，我們期待在不久之後將要舉行的錢幣交易會和2022 年11月的澳門錢幣學會年會上與各位再見。

2020年澳門錢幣學會年會開幕式

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German Dollars for Tsingtao ◎ Michael Kunzel〔Germany〕

In the 1880s, the colonial aspirations of the still young German Empire were not yet developed due to Bismarck's policies. Nevertheless, the world-wide developments were also closely observed and evaluated with regard to money and coinage. The German legations and consulates in Beijing and Canton, for example, kept a close eye on monetary developments and constantly reported back to Berlin. In February and March 1887, the Chinese central government approached the German legation with a request for information on what profit Germany was deriving from the minting of copper and silver coins, what minting machines for cash minting would cost and what their daily capacity was.1

Picture: 128. Teutoburger Münzauktion, Lot 1363

Note： 1 GSTAPK, Abt. I, Rep. 183, No. 351, the correspondence from the Department of the Treasury to Karl Conrad on May 6, 1887, from the report of the Department of the Treasury on June 29, 1887.

The Director of the Berlin Mint, Mr. Conrad2 had to answer these questions on behalf of the Finance Minister of the Empire, in strict confidence of course. He reported in great detail on June 29, 1887, that profits of 32.44 to 34.19%, depending on the grade, were being achieved in the minting of German silver coins, and 34-55% for copper coins; that minting machines made by Loewe

2 Karl Conrad (1828 – 1906), was Director of the Berlin Mint and worked there for more than 50 years. Medal of the 50th Anniversary -65. Westfälischen Auction, Lot 2792. 3 GSTAPK, Abt. I, Rep. 183, No. 351, the notification from the Department of the Treasury to Karl Conrad on July 18, 1888, from the copy of the report from Beijing.

was common in China. In February 1887, the Empress Regent had ordered

4 GSTAPK, Abt. I, Rep. 183, No. 351, the correspondence from Bueller, the German Consul to Kwangchow, to Bismarck on September 21, 1887, including the memoirs of Chiang Chih Tung, the Hong Kong Daily News (《香港每日新聞》) on August 12, 1887, and the Hong Kong Telegram (《香港電報》) on August 17, 1887.

Li Hung Chang to set up a mint in Tientsin and mint standard cash coins.3

5 GSTAPK, Abt. 1, Rep. 183, No. 351, the report of German envoy to Beijing on January 13, 1898.

& Co for cash coins cost 6,000 to 7,750 marks and had a daily capacity of up to 42,000 to 48,000 pieces, and rather less for coins with square holes, as

The entrepreneur ordered a British minting machine and had buildings and facilities constructed in Tientsin. In September 1887, a report sent by Consul Bueller from Canton to the Imperial Chancellor, Prince Bismarck, made people sit up and take notice.4 Chiang Chih Tung Governor General of Kwangtung and Kwangsi had preparations made in Canton for the construction of a giant mint, which would be equipped with skilled English personnel and 90 minting machines made by Ralph Heaton & Co. of Birmingham, would be larger than any existing mint, and would have a minting capacity of 100,000 dollars and 2,600,000 cash daily. The Governor General touted his minting enterprise as a national deed for the benefit of the country; if successful, he believed that mints could also be established in other cities in China and supply the country with national coins. The project was viewed with skepticism, and not only by the German side, with newspapers calling it a "death-birth". Although the Canton Mint did not reach its planned capacity, the next few years saw the establishment of other provincial mints. Around 1890, numerous price pamphlets appeared in China on the subject of the "introduction of an imperial silver coin", which considerably worried the German envoy in Peking, von Brandt, because they were all based on the principle "... that all trade with foreigners would only result in the exploitation and impoverishment of China..."5

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The Models for the Tsingtao 5 Cent German Coin Photo: The Münzkabinett Berlin-Prussian Cultural Heritage, Inventory Number: 18283265a & 18283266a

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Von Brandt found it even more alarming that these theories were Chinese common knowledge, "...from insignificant literati up to the highest dignitaries of the empire...". Nevertheless, he considered a Chinese coin reform impossible, on the one hand because of "...unreliability and dishonesty of almost all Chinese officials..." and on the other hand because of the interest that Chinese banks and authorities would have in maintaining the present state.6 When Germany occupied Tsingtao Bay on November 14, 1897, and established a 99-year leasehold in 1898, an attempt to settle currency relations in German Tsingtao was quite soon made.7 In Berlin, Chinese currency issues were well known through the numerous reports from Beijing

The Model for the Tsingtao 10 Cent German Coin Photo: The Münzkabinett Berlin-Prussian Cultural Heritage Inventory Number: 18283267a

and Canton. Mint Director Conrad of the Royal Prussian Mint Directorate could even be considered an expert, since 10 years earlier, around 1887, he had already submitted a draft for an imperial Chinese coinage law, apparently on a top-secret commission from the Ministry of Finance, which provided for numerous denominations of copper, nickel and silver coins ranging from one li to one imperial tael. In the field of gold coins, of which 10- and 20mark pieces were to be minted, the mark at two chien and 100 pfennig, respectively, the German model is no longer denied.8 The first provisional consultations regarding the issue of circulation coins for local small traffic in the new protectorate took place in October 1899 between the state secretaries of the Reichsmarineamt, the Reichsschatzamt, the Auswärtigesamt and the Reichsbankpräsidium.9 One year later, the Berlin Mint Directorate was commissioned to examine the fineness of Chinese silver coins from the provinces of Kwangtung and Hupeh with the aim of determining the alloy of German coins to be introduced into Tsingtao. As expected, the results of the examination were quite uneven.10 On the basis of the test report and the suggestions of the Governor of Tsingtao, the Mint Directorate was now to prepare an expert opinion on what profit could be expected from the minting of German dollars and its parts. The German dollar, in the exchange value of 1.9521 marks, would of course have to be derived from the Mexican model and the partial pieces would have to correspond to the denomination of Chinese dollars. Although the choice of a nickel alloy for 10- and 5-cent pieces was highly recommended from a fiscal point of view, it was decided to dispense with it out of consideration for Chinese conditions. Smaller denominations of 1, 1/2 and 1/4 cents were to be produced as copper coins with central perforations customary in China.11 Mint Director Conrad proceeded cautiously and had to be admonished by the Ministry of Finance. After three months, on March 20, 1901, the expert opinion was available. Design sketches were presented, as well as the calculation of the production costs, the coin parameters, as the most important argument pro or contra, the profit and loss account. According to the expert opinion, the minting of German dollars yielded a loss of more than two percent, while the silver pieces promised a small profit, between 0.31 and 4.02 percent, while the minting of copper coins, on the other hand, would again be loss-making, regardless of whether they had round or square holes. In addition, there would be medallist costs for master dies and patrices of 550 marks each for the silver and 500 marks for copper coins, for a total of 3,700

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6 Ibid 7 The suggestion to occupy Kiaochow was from Gustav Adolf Freiherr Schenck zu Schweinsberg (1843-1909), the German envoy to Beijing on November 23, 1894, Hanna, p. 33. 8 GSTAPK, Abt. I, Rep. 183, No. 351, the draft of the coinage act in the relics of Karl Conrad. Although there is no evidence to prove that Conrad made the draft, he did a lot of work for the draft and made calculations from Chinese mark to German mark. 9 GSTAPK, Abt. I, Rep. 183, No. 351, the correspondence from the Department of the Treasury to the Prussian Royal Mint on September 28, 1900, from the report of the mint on October 26 - 27, 1900. It indicates that the purity of the silver dollar of Hupeh meets the standard and the purity of Hangchow, Chekiang, was 1% lower than the standard (as an employee of the mint worked there in 1899). 10 GSTAPK, Abt. I, Rep. 183, No. 351, the correspondence from the Department of the Treasury to the Prussian Royal Mint on September 28, 1900, from the report of the mint on October 26 - 27, 1900. It indicates that the purity of the silver dollar of Hupeh meets the standard and the purity of Hangchow, Chekiang, was 1% lower than the standard (as an employee of the mint worked there in 1899). 11 GSTAPK, Abt. 1, Rep. 183, No. 371, the correspondence from the office of the German Prime Minister to the Department of the Treasury (copy) in November 1900.

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marks. The revision of the Chinese characters by the Oriental Seminar would cost an additional few hundred marks.12 Due to the negative expert opinion and the expected financial losses, the Reichsmarineamt withdrew from the coin project. However, this did not mean that the German coin project was off the table. The Deutsch-Asiatische Bank, a joint venture of seven major German banks and six private banks founded on February 12, 1889, took up the coin issue and intended to have the divisional coins for Tsingtao produced at its own risk and expense. In November 1902, the bank board approached the Berlin Mint Directorate, submitted both a draft "Ordinance Concerning the Minting of Partial Coins of the Silver Dollar Currency for the Tsingtao Area" and coin designs.13 Mint Director Conrad again gave his opinion on the project only after a reminder. He had few objections, since the Bank had excluded the loss-making whole dollars and the copper coins from the outset. Conrad named minting costs of 1.50 to 2.80 marks per kg of 50-cent to 5-cent coins, accepted the fineness of 800/1000, demanded the usual price for the original dies, the patrices, for the revision of the Chinese script 250 marks, agreed to special packaging against

12 GSTAPK, Abt. 1, Rep. 183, No. 357, the correspondence from the Department of the Treasury to the Prussian Royal Mint on December 20, 1900, the consignment on the identification of the coin; a reminder dated February 13, 1901; a certification by the mint on March 20, 1901. 13 GSTAPK, Abt. 1, Rep. 183, No. 371, the draft of the act dated November 22, 1902; the correspondence from the Deutsche-Asiatische Bank to the Prussian Royal Mint on November 11, 1902. 14 GSTAPK, Abt. 1, Rep. 183, No. 371, the correspondence from the Prussian Royal Mint to the Deutsche-Asiatische Bank (draft) on May 25, 1903. Mueller-Jabusch mentioned the project in his congratulatory message. 15 GSTAPK, Abt. 1, Rep. 183, No. 371, the correspondence from the Prussian Royal Mint to the Deutsche-Asiatische Bank (draft) on May 25, 1903. Mueller-Jabusch mentioned the project in his congratulatory message. 16 GSTAPK, Abt. 1, Rep. 183, No. 371, the correspondence from the Prussian Royal Mint to the Deutsche-Asiatische Bank (draft) on May 25, 1903. Mueller-Jabusch mentioned the project in his congratulatory message. 17 GSTAPK, Abt. 1, Rep. 183, No. 371, the correspondence from the Imperial German Navy (under the leadership of Tirpitz) to the Department of Treasury (copy) on November 6, 1907; A Detailed Illustration of Chinese Characters translated by Michelsen; the correspondence from the Department of the Treasury to the treasury secretary on November 21, 1907; the correspondence from treasury secretary to the Prussian Royal Mint on November 28, 1907.

reimbursement of costs, and described the approval procedure, according to which the bank had to provide a power of attorney from the Reich Chancellor, the Reich Treasury or Colonial Office with the minting application and await ratification of the fee rates by the Minister of Finance.14 Curt Erich, as head of the bank, reserved the right to examine the matter and, if necessary, to submit applications. The Reichsmarineamt was not at all disappointed when the Deutsch-Asiatische Bank withdrew from the coin project.15 Instead, in 1903, the office had the bank submit proposals for the issue of banknotes. Negotiations in this regard were concluded at the end of 1905, and on July 8, 1906, the Imperial Chancellor issued a banknote concession limited to 15 years.16 The banknotes, dated March 1, 1907 and printed in Leipzig, were issued from June 17 in denominations of 1, 5, 10, 25 and 50 dollars and 1, 5, 10 and 20 taels. Of the five issuing points in China, Tsingtao was the most important. Here, only dollars, predominantly $1 bills, came into circulation. In June 1914, 2,333,064 dollars in banknotes of the Tsingtao issue circulated, which was 67 percent of all dollars issued by the German-Asian Bank in China. A new bill issue dated July 1, 1914, included higher denominations such as 100, 200, 500 dollars and 50, 100, and 500 taels, but the outbreak of war prevented the issuance of these new bills. No sooner had the first bills of the German-Asian Bank been issued in Tsingtao than the governor there approached the Imperial Navy Office on July 20 and 25, 1907 with detailed proposals for the minting and design of 5-cent and 10-cent nickel coins. Because Japanese and Korean nickel coins were now already circulating in the protectorate, earlier reservations about issuing nickel coins in China were thought to be moot. The Reichsmarineamt addressed the Mint Directorate with a request for a technical and financial expert opinion.17 Already on December 3, 1907, the report from the Mint was available. Medalist Otto Schultz estimated the cost of the die work at 900 marks, plus 50 marks for the original dies. The minting fees were estimated at 30 pfennigs per kg of 10-cent and 40 pfennigs per kg of 5-cent coins. However, the Reichsmarineamt would have to pay extra for metal procurement and packaging costs. It took another year before the Reichsmarineamt 138

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The Die for the Tsingtao 5 Cent German Coin Photo: The Münzkabinett Berlin-Prussian Cultural Heritage, Inventory Number: 18283268a & 18283268r

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The Die for the Tsingtao 10 Cent German Coin Photo: The Münzkabinett Berlin-Prussian Cultural Heritage Inventory Number: 18283269a – 18283272a & 18283269r – 18283272r

The Die for the Tsingtao 5 Cent German Coin Photo: The Münzkabinett Berlin– Prussian Cultural Heritage Inventory Number: 18283273a – 18283276a & 18283273r – 18283276r

The selection of models and dies can be shown here for the first time to the courtesy of the cabinet staff- Christian Stoess, Dr. Johannes Eberhardt und Elke Bannicke, collection of the Department of Coins of the State Museum, Berlin-Prussian Cultural Heritage Photograph: Franziska Vu J

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decided to commission the minting of coins for Tsingtao. In December 1908, the Mint Directorate received a seal die with a navy eagle as a sample for the coin designs to be made by Professor Paul Sturm and Otto Schultz, the two in-house medallists at the Berlin Mint. While Sturm drew three different obverse designs, a Germania head, an imperial eagle and a naval eagle, Schultz had to struggle with the Chinese characters for the coin backs. At the end of February 1909, Mint Director Brinkmann received back the design drawings with the Reichsmarine eagle approved by the Reichsmarineamt and now everything was to go very quickly, although a final order still depended on cost approval by the Reichstag. The coins were scheduled to be shipped to Tsingtao in mid-May.

The Die for the Tsingtao 5 Cent German Coin Photo: The Münzkabinett Berlin-Prussian Cultural Heritage Inventory Number: 18283277a

Of course, nothing came of it, it took a little longer. The medalists were working on their plaster models and the Mint Directorate invited tenders for the delivery of coin blanks.18 Five companies took part in the extremely complicated tender, which included numerous reassurances. The contract was awarded to the company Basse und Selve in Altena, which demanded 2.29 marks per kg of coin blanks in the intended alloy of the German Reich nickel coins. While preparations for the minting of the coins were underway - the Reichsmarineamt had obtained the minting permits for 100,000 10cent and 150,000 5-cent coins and issued the minting order on May 15, 1909 - the Directorate of Mint asked for permission to mint an additional 200 polished dies of each variety for collectors and interested parties, 50 of which would be made available to the Reichsmarineamt. The production of the coins dragged on into August, and on August 11, 1909, the Imperial Navy Office asked the Mint Directorate to complete the work so that the

Imperial German Eagle

coins could leave Bremerhaven for Tsingtao on the Imperial Mail Steamer on August 26. Everything worked out, the 175 bags of 100 dollars each were seaworthily packed into seven iron-clad crates just in time and set on their way. The introduction of nickel coins in Tsingtao followed the governor's decree of October 11, 1909.19 While at the public tills and in private traffic the acceptance of nickel coins remained limited to three dollars, the governor's treasury in Tsingtao exchanged nickel coins back for Mexican dollars in any amount. A considerable profit had flowed into the Imperial Navy Office treasury from the minting of the coins; the minting cost was 1,314.48 marks, and the metal bill was 1,946.50 marks. When the governor reported in 1910 that nickel coins had already become scarce in the monetary transactions of the protectorate, the Mint Directorate received an order on June 6, 1910, to mint 10-cent coins for 12,000 dollars and 5-cent coins for 3,000 dollars. A simplified procedure was chosen because the new mintage was considered a continuation of the old and the year of the coins remained unchanged. Again, the Reichsmarineamt pressed for quick delivery and conceded the mint from the outset an overproduction for collectors. In an urgent tender initiated by the Mint Directorate, Vereinigte Deutsche Nickelwerke AG in Schwerte won the race. Punctually, on July 23, 1910, the Berlin Mint shipped the money for Tsingtao. Of polished dies, the Mint had produced 200 10-cent and 77 5-cent coins this time, but it soon became apparent that the collector market was saturated, as only 25 and 22 pieces of each variety could be sold, respectively. Again, the profit was so great that another replenishment was not long in coming. On March 9, 1911, the Reichsmarineamtordered 10-cent coins 140

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18 Es sind Modelle der 5-Cent- und 10-CentMünzen im Münzkabinett Berlin, Staatliche Museen zu Berlin Stiftung Preußischer Kulturbesitz erhalten. Peter N. Schulten wollte dazu noch ein Gipsmodell für ein entsprechendes 20-Cent-Stück “vor Jahrzehnten in Berlin gesehen” haben.Vgl.: Kurt Jaeger Die Deutschen Münzen seit 1871, Hrsg. Peter N. Schulten, 15. Aufl. Basel 1991, S. 639. Dieses Modell ist nicht bekannt und auch in den Akten nicht nachgewiesen. 19 M. Deeken, S. 67-68, nach Deutsche KolonialGesetzgebung, XIII, S. 678.

專題

with a value of 25,000 dollars and 5-cent coins with a value of 10,000 dollars as a rush order. Because of the short notice, the Nickelwerke AG in Schwerte supplied coin blanks and the Royal Mint in Berlin supplied the minted coins in two batches on April 8 and May 12, 1911. A final minting order for 20,000 dollars in 10-cent and 10,000 dollars in 5-cent coins was placed with the Mint Directorate on August 28, 1913. Again, haste was required and Nickel Works was awarded the contract, this time not for the cheapest price, but for the shortest delivery time. Since the coins were to retain the unchanged year

FEATURES

20 GSTAPK, Abt. I, Rep. 183, Nr. 371, Gouvernementskasse an Berliner Münzkasse, 28. Dez. 1911; Berliner Gutachten vom 22. Jan. 1912; Übergabe der Falschmünze mit Schreiben aus Tsingtau 2. März 1912. Nachrichten zur Beliebtheit der Kiautschoumünzen bei G. Meinhardt, S. 10 und 13. Zwischenzeitlich sind Fälschungen beider Nominale bekannt geworden, vgl. K. Jaeger Die Deutschen Münzen seit 1871, Hrsg. Peter N. Schulten, 15. Aufl. Basel 1991, S. 638-639. 21 GSTAPK, Abt. I, Rep. 183, Nr. 371, Reichswehrministerium an Münzdirektion und Gutachten vom 29. Dez. 1920, wonach der Metallwert zum Tageskurs für 10-Cent-Stücke 10 Pfennig und für 5-Cent-Stücke 7,5 Pfennig betrug.

1909, the Mint Directorate had the minting order approved by the Ministry of Finance. At the proverbial last minute, the Royal Mint delivered the money to Bremen on September 27, 1913. In total, the Berlin Mint had minted 670,417 10-cent and 611,167 5-cent coins with a total value of 97,600.05 Mexican dollars, including 278 10-cent and 277 5-cent coins in 'polished plate' for collectors, between 1909 and 1913 on behalf of the Imperial Navy Office for Tsingtao. The dollar was worth about 1.48 marks in Tsingtao around 1909, so that after deducting the total costs of 13,451.83 marks, the financial success of the minting for the Reichsmarineamt probably amounted to about 130,000 marks. The popularity of the stable-value German nickel coins in Tsingtao is underscored on the one hand by high demand and annual minting, and on the

Sources： Geheimes Staatsarchiv Preußischer Kulturbesitz (GSTAPK) Hauptabteilung I, Zivilkabinett, Rep. 89, Nr. 27061, Akten betreffend das Münzwesen in den deutschen Kolonien 1890-1914 Hauptabteilung I, Preußische Staatsmünze, Königliche Münzdirektion, Rep. 183, Nr. 351, Acta betreffend die Münzreformen in China ... 1887-1902 Ebenda, Nr. 371, Acta betreffend die Ausmünzung für Kiautschou ... 1900-1913 Ebenda, Nr. 886, Anschaffung von Büromaterial ... Nickelmünzen für Kiautschou 1905-1913

other hand by the occurrence of counterfeits. For example, in December 1911, the TsingtaoGovernorate Treasury submitted a counterfeit 10-cent piece to Berlin for examination, which had been presented by the Schantung Railway Company. Due to the 'great public danger of this counterfeit piece, which had been imitated with particular skill', the Royal Mint Directorate requested the German authorities in Tsingtao to conduct a detailed investigation into the manufacturer and distributor of these counterfeit coins and asked for the sample to be made available to the Imperial Collection of counterfeit money.20 The last time the Tsingtao coins were on record was in December 1920, when the naval management at the Imperial Ministry of Defense, the successor to the Reichsmarineamt, inquired at the Mint Directorate about the metal value of the mintages. Apparently, the remaining stocks were to be scrapped.21

(Special thanks should go to Münzkabinett Berlin, the Teutoburger Münzauktion and the Geheimes Preussisches Staatsarchiv. The author would like to thank Thomas Uhlmann, Germany, for editing the article.)

References： Althoff, Ralf: Sammlung Köhler-Osbahr, Bd. II/1, Vormünzliche Zahlungsmittel und Außergewöhnliche Geldformen aus China, Annam, Korea und Japan, Hrsg. Kultur- und Stadthistorisches Museum Duisburg, Duisburg 1993. RDeeken, Max: Das Geldwesen der deutschen Kolonien, Münster 1913, bes. S. 55-72. Hanna, G.W.: Das Deutsche Reich und Kiautschou. Gustav Adolf Freiherr Schenck zu Schweinsberg (1843-1909) verschaffte dem Kaiserreich Kiautschou, in: Geldgeschichtliche Nachrichten 14, 1979, Nr. 69, S. 33. Keller, Arnold: Das Papiergeld der Deutschen Kolonien, Münster 1967, bes. S. 122-135. Meinhardt, Günther: Die Geldgeschichte der ehemaligen deutschen Schutzgebiete, Heft 7: Deutschland in China, in: Rundschau der Geldzeichensammler, Sonderausgabe Nr. 30, Dortmund 1965. Müller-Jabusch, Maximilian: Fünfzig Jahre DeutschAsiatische Bank 1890-1939, Berlin 1940. Schwenke, Hans: Deutsche Geldzeichen 1871-1914, Berlin (Ost) 1980, bes. 171-181. Weber, Friedrich: Die koloniale Finanzverwaltung, Kolonialrechtliche Abhandlungen, Hrsg. Hubert Naendrup, H. 2, Münster 1909.

Designing Draft GSTAPK, Abt. 1, Rep. 183, No. 371.

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為青島發行的德國貨幣 ◎ 米歇爾·昆澤爾〔德國〕

19世紀80年代，俾斯麥致力於推行大陸政策，認為德國的利益重心在歐洲大

陸而不在海外殖民，故此時仍年輕的德意志帝國的殖民之心尚未膨脹。即便如 此，德國對世界範圍內的貨幣和鑄幣發展仍保持了密切的觀察，並對之進行評

估。如德國駐北京大使館和駐廣州領事館，他們密切關注當地貨幣的發展情況，

並不斷向柏林進行彙報。1887年2月至3月，清朝中央政府與德國大使館接洽，

要求大使館提供德國從鑄造銅幣和銀幣中獲得的利潤、鑄幣機器的成本及其日

圖片來源 : 條頓堡硬幣中心拍賣，Lot 1363，圖 128

柏林錢幣總監卡爾 · 康拉特先生 2（Karl Conrad）不得不代德國財政部長回答

注釋：

產能等信息。1

了這些問題，但要求嚴格保密。康拉特在1887年6月29日作了詳細的報告。報告

稱，德國各銀幣鑄造利潤為32.44% 至34.19% 不等，銅幣為34% 至55% ，羅維

公司（Loewe & Co）用於鑄凱施錢幣的機器售價為 6 000至7 750馬克，每日

可鑄幣42 000至48 000枚，更重要的是，德國的鑄幣機器可在錢幣上打出方孔，

製造出中國常用制式的錢幣。1887年2月，慈禧太后給李鴻章下旨，要求在天津

建造鑄幣廠並開始鑄造通用銅錢。3於是李鴻章訂購了一臺英國的鑄幣機，在天

（Bueller） 津建造了工廠並為其配備設施。1887年9月，一份報告經廣州領事比勒

送到德國總理俾斯麥公爵手中，以便德國方面瞭解情況並引起相關人員注意。4

1 GSTAPK, Abt. I, Rep. 183, 351 號，財政部 1887 年 5 月 6 日致鑄幣局總監康拉特的信函，1887 年 6 月 29 日

鑄幣局的報告。 2 卡爾·康拉德（1828-1906 年）, 柏林鑄幣局總監，在那 裏工作了 50 多年。Westphälische 拍賣第 65 場拍賣目錄， LOT 2792,50 周年紀念章。 3 GSTAPK, Abt. I, Rep. 183，351 號，財政部 1888 年 7 月 18 日給康拉特的情況通報，來自北京的報告的影本。 4 GSTAPK, Abt. I, Rep. 183，351 號，1887 年 9 月 2 日領事畢勒（Bueller）從州致俾斯麥公爵的信函，包括 大總督張之洞回憶錄以及 1887 年 8 月 12 日的《香港每 日新聞》和 1887 年 8 月 17 日的《香港電報》。 5 GSTAPK, Abt. 1, Rep. 183，351 號，1891 年 1 月 13 日北京公使的報告。 6 同上。

兩廣總督張之洞則下令準備在廣州建立一個大型鑄幣廠，並配備英國專業人員

和來自伯明翰拉爾夫 · 希桐公司（Ralph Heaton & Co.）的90臺鑄幣機器，其

規模較現有的任何鑄幣廠都大，每日可鑄100 000枚銀元和2 600 000枚銅錢。

這位總督驕傲地稱他的鑄幣廠是對國家有益的愛國行為。根據他的想法，如果

這家鑄幣廠能夠建成，那便可在中國其他城市也建立鑄幣廠，以便為國家提供 國產鑄幣。然而，當時不僅僅是德國方面對該項目持懷疑態度，報紙上更是稱

其為“死胎” 。雖然廣州鑄幣廠沒有達到其所設計的產能，可隨後幾年中仍舊建

造了其他的省級鑄幣廠 。1890年左右，中國出現了很多以“引進帝國銀幣”為

主題的歌頌文章。這使得在北京的德國公使馮 . 勃蘭特（von Brandt）很不安， 因為這些文章全從一個原則出發 ： “……與外國貿易往來的後果就是剝削中國和 使中國變窮……”5

馮 . 勃蘭特更感憂慮的是這些理論代表著中國人“從無關緊要的文人至帝國最

有權勢的高官”的普遍看法。儘管如此，他排除了中國要進行鑄幣改革的可能， 一方面因為“幾乎所有的中國官員都不可靠和不誠實”，另一方面源於中國的銀 行和當局有興趣保持現狀。6

大德國寶伍分幣模

德國軍隊1897年11月14日佔領了膠州灣，並且於1898年設立了一個為期99 年的

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圖片來源 : 柏林的普魯士文化遺產錢幣館藏 , 館藏編號：

18283265a & 18283266a

專題

FEATURES

租借地，然後很快就試圖處理那裏的貨幣關係。7柏林通過很多來自北京和廣州

的報告，很快瞭解了中國的貨幣問題。普魯士皇家鑄幣局總監康拉特早在10 年 前，約1887年，就受財政部秘密委託，提交了一份中國皇家鑄幣法草案，設定

了面值從1厘到1兩不等的銅幣、鎳幣和銀幣。草案中的金幣則沿用德國模式， 擬鑄造10馬克和20馬克的金幣，一個馬克相當於2 錢或100 分。8

1899年10月，德國海軍部、財政部、外交部和德國銀行監事會的國務秘書就在

新租界發行少量流通的當地鑄幣議題舉行了臨時諮詢會議。9一年以後，柏林鑄

幣總監受委託對廣東省和湖北省所鑄中國銀幣的純度進行研究，以便確定在膠

州發行的德國硬幣的合金含量。正如所料，檢測結果很不一致。10基於這個檢

大德國寶壹角幣模 圖片來源 : 柏林的普魯士文化遺產錢幣館藏 , 館藏編號：

18283267a

測報告和膠州總督的建議，鑄幣局總監就鑄造德國元和元以下單位硬幣時的利

潤提出專家建議。青島的德國元與德國馬克的兌換率為1.9521，設計仿照墨西

哥元，面額對照中國銀元。考慮到中國的情況，應該放棄按國庫標準極力推薦

的10 分和5分鎳合金的硬幣。相反應該鑄造小面值的，如中國常見的有中孔的

銅幣，面額有1分、1/2分和1/4分。11鑄幣局總監康拉特小心謹慎地進行這項工

作並且不斷受到財政部的催促。3個月之後的1901年3月20日，康拉特呈交了這

份專家意見。意見中不僅包括設計草圖，而且還有生產成本匡算以及銀幣的各

項參數，而衡量利弊的最重要論據是利潤和虧損匡算。根據這個專家意見，鑄

造德國銀元會造成 2% 以上的虧損，而小面值的銀幣將帶來0.31% 至4.02% 的

薄利，而不論是鑄造方孔銅幣還是圓孔銅幣鑄造都會帶來巨大利潤。此外，還

有加工1件原始陰陽模的模具師費用。其中銀幣為550馬克，銅幣500馬克，總

共3 700馬克。另外還要加上東方語學院審核中國文字的幾百馬克費用。12

基於這個持否定態度的專家意見和可以預見到的財政損失，德國海軍部決定退

出該鑄幣項目。但這個項目最終並未被取消。1889 年2月12日成立的德華銀行

是7大德國和6家私人銀行所共同成立的一個合資公司。這家銀行接過了這項鑄

7 佔領膠州的建議出自德國駐北京公使古斯塔夫·阿道夫·申 克 男 爵· 施 文 伯 格（Gustav Adolf Freiherr Schenck zu Schweinsberg）（1843-1909）並且所注日期為：1894 年 11 月 23 日，參閱哈納（Hanna），33 頁。 8 GSTAPK, Abt. I, Rep. 183，351 號，在 1906 年去世 的鑄幣局總監康拉特的遺物中發現硬幣法的草案。儘管沒 有證明康拉特起草了這個硬幣法草案，可是他對此做了大 量的工作並進行了很多從中國馬克到德國馬克的計算。 9 GSTAPK, Abt. 1, Rep. 183，371 號，德國海軍部致德 國財政部（複製件），1907 年 11 月 6 日。1900 年 9 月 28 日財政部致鑄幣局總監，1900 年 10 月 26/27 日鑄幣 局報告。湖北的銀幣基本符合規定的純度。米自廣東省的 銀幣和那些來自浙江省杭州的銀幣（鑄幣局還能補充上因 為鑄幣局的一個雇員 1899 年在那裏工作過）卻低於規定 純度 1%。 10 同上。 11 GSTAPK, Abt. 1, Rep. 183，371 號，德國總理府致 財政部（複製件），1900 年 11 月。 12 GSTAPK, Abt. 1, Rep. 183，357 號，1900 年 12 月 20 日財政部致鑄幣局，委託對硬幣進行鑒定；1901 年 2 月 13 日的催促信的；1901 年 3 月 20 日鑄幣局的鑒定書。 13 GSTAPK, Abt. 1, Rep. 183，371 號，1902 年 11 月 22 日規定草案；1902 年 11 月 24 日德華銀行致鑄幣局。 14 GSTAPK, Abt. I, Rep. 183；371 號； 鑄 幣 局 1903 年 5 月 25 日 致 德 華 銀 行（ 草 稿 ）。 在 密 勒· 雅 佈 施 （Mueller-Jabusch）的賀詞中提及這個項目。 15 同上。 16 同上。

幣項目，表示自己願意為膠州鑄造硬幣，並願意自行承擔風險和費用。1902年

11月，銀行的董事會向柏林鑄幣局提交了《為膠州地區鑄造銀元以下面值硬幣

的規定》和相關鑄幣草案。13鑄幣局總監康拉特經再三催促才提出他對這個項

目的看法。他對此幾乎沒有什麼異議，因為銀行事先已經將帶來損失的銀圓和 銅幣排除在鑄造計劃之外。康拉特建議將每公斤50 分至5分硬幣的鑄造費用控

制在1.50至 2.80馬克之間，純度控制在800/1 000，要求陰陽模具的製造價格

採用常規價格，審核中文字的費用為250馬克，並同意通過費用報銷的方式解

決特殊包裝費。康拉特還說明了批准的程式，即銀行必須使鑄造申請獲得德國 總理府、財政部殖民辦公室的授權，並需財政部長批准費率。14庫彌特 · 埃裏 希（Curt Erich）作為銀行董事長保留對這件事進行審核並且必要時提出申請

的權利。當德華銀行從這個鑄幣項目中退出時，德國海軍部根本沒有感到失望。

15

與此相反，海軍部於1903年讓銀行提交發行紙幣的議案。1905年底，紙幣

發行相關談判結束。1906年7月8日，德國總理發放了為期15年的紙幣發行許可

證。16標明日期為1907年3月1日並且在萊比錫印製的紙幣從6月17日起開始發行，

面額為1元、5元、10元、25元和50元以 及1兩、5兩、10兩和20兩。在中國的

5個紙幣發行地點中，青島最為重要。青島流通紙幣的單位全是元，主要是1元 紙鈔。

大德國寶壹角幣模 圖片來源 : 柏林的普魯士文化遺產錢幣館藏 , 館藏編號：

18283268a &18283268r

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專題

大德國寶壹角幣模 圖片來源 : 柏林的普魯士文化遺產錢幣館藏 , 館藏編號：18283269a – 18283272a & 18283269r – 18283272r

大德國寶 5 分幣模

圖片來源 : 柏林的普魯士文化遺產錢幣館藏 , 館藏編號：18283273a – 18283276a & 18283273r – 18283276r

致謝：以上珍品模型和模具在此首 次向外展示，對此我們感謝位於柏 林的州立博物館中的錢幣館藏-普 魯士文化遺產的工作人員克里斯蒂 安·斯泰斯、約翰·埃伯哈特和埃 爾克·班尼克博士。照片由弗蘭齊 斯卡·伍拍攝。

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1914 年6月，青島共發行流通價值總計2 333 064元的紙幣，占德華銀行在中國

發行所有紙幣價值的67% 。標明日期為1914 年7月1日的新一批紙幣發行，這次

包括面值交大的紙幣，如100元、200元、500元和50兩、100兩和500兩。後來， 這新一次紙幣的發行由於戰爭爆發而被迫停止。

德華銀行的第一批 紙幣幾乎剛剛在青島 發行 , 當時的總督就在1907年7月20

日和25日就 鑄造 和設計5分和10 分硬幣向德國海軍部提出了詳細的建議。因

為當時日本和朝鮮的鎳幣已經在租界流通，不用再對在中國發行鎳幣有所顧 慮。德國海軍部轉而請求鑄幣局總監提出一個鑄幣技術和財政方面的專家意

（Otto 見。171903年12月3日鑄幣局總監就完成了這個報告。製模師奧托 · 舒爾茨

Schultz）的模具報價為900馬克，另需加原始模具費50馬克。鑄造費用匡算

大德國寶5分幣模 圖片來源 : 柏林的普魯士文化遺產錢幣館藏，館藏編號：

18283277a

為每公斤10 分硬幣為30 芬尼，每公斤5分硬幣為 40 芬尼。德國海軍部還必須額

外支付金屬材料費和包裝費。又過了一年，德國海軍部決定委託為膠州鑄造硬 幣。1908年12月，鑄幣局收到了以海軍鷹為樣品圖案的硬幣設計。柏林鑄幣

局的兩個制模師保羅 · 施托姆教授（Paul Sturm）和奧托 · 舒爾茨教授（Otto

Schultz）負責該草案。施托姆繪製3個正面圖⸺ 一個日耳曼女神頭像、一個

帝國鷹和一個海軍鷹時，舒爾茨負責硬幣反面的中國文字。1909 年2月底，鑄 幣局總監布倫克曼（Brinkmann）得到了經過德國海軍部批准的海軍鷹圖案設

計稿，並且認為一切應該加緊進行，但最終費用批准方面仍然會受制於德國議 會。鑄幣局計劃在5月中旬將硬幣裝船運往青島。

但是最終並沒有如期完成，而是略有推遲。因為當時制模師仍然在忙於製作石

膏模具，並且鑄幣局還要對供應硬幣所需金屬坯料進行招標。185個公司參與了

帝國鷹

這個非常複雜且帶有眾多再保險合同的招標。最終，阿爾托納（Altona）的巴

瑟和塞爾沃 （Basse und Selve）公司中標，鎳幣合金每公斤硬幣坯料要價為2.29

馬克。之後，德國海軍部發出鑄造100 000 個10 分和150 000 個5分硬幣的要約，

並且在1909 年5月15日發出鑄幣委託。當鑄幣準備工作開始進行之際，鑄幣局 請求准許為收藏家和愛好者將每種面值硬幣額外用拋光後的模具再多鑄造 200

個，其中每種50 個應該繳付德國海軍部供其支配。鑄造硬幣項目一直拖到 8月， 而德國海軍部要求鑄幣局在1909 年8月11日結束工作，以便這些硬幣可以在8月

26日用德國郵政蒸汽船從不來梅港（Bremerhaven）運往青島。結果一切順利， 175袋硬幣被裝入7個鐵皮箱並且發運走，每袋裝有價值100元的硬幣。根據總 督的命令，1909 年10月11日鎳幣在膠州開始投入使用。19在公眾收款處和在私

人流通接受鎳幣的額度仍然限制在3元，亦可在青島總督府的財政部門用墨西

哥元兌換鎳幣，兌換額度不限。鑄幣所得利潤相當可觀，這些利潤被上交德國

海軍部的財政部門。而鑄幣費用總計1314.48馬克，金屬材料費用為1 946.50

馬克。1910 年，總督報告稱，租界內流通的鎳幣數量已經很少。1910 年 6月6 日，鑄幣局再次收到訂單，要求鑄造價值總計12 000元的10 分硬幣和價值總計

3 000元的5分硬幣。

這次採用了簡化的程式，因為新一次的鑄造被看作之前那次鑄造的延續，且硬 幣的鑄造數目保持不變。於是德國海軍部敦促迅速交貨，並且事先同意為收藏 家額外生產一定量的硬幣。鑄幣局發出加急招標公告後，位於施維爾特的德

國聯合鎳製品廠股份公司（die Vereinigten Deutschen Nickelwerke AG in

Schwerte）提高了工作速度。鑄幣局在1910年7月23日準時將為青島準備的貨 J

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17 GSTAPK, Abt. 1, Rep. 183，371 號，1907 年 11 月 6 日德國海軍部（梯爾皮茨領導下的）致德國財政部（複 製件）。此外還有 1907 年 7 月 8 日一個由翻譯米歇爾森 （Michelsen）對《中文文字的詳細解釋》；1907 年 11 月 21 日德國議會致財政部長的信函；1907 年 11 月 28 日財政部長致鑄幣局的信函。 18 這是存放在柏林鑄幣展室的 5 分和 10 分硬幣的模 具，柏林國家博物館普魯士文化收藏基金會（Staatliche Museen zu Berlin Stiftung Priusicher Kulturbesitz）彼 得·舒爾騰（Peter N. Schulten）可能“幾十年前在柏林” 還見過一個相應的 20 分硬幣的石膏鑄造模，參閱庫爾特·耶 格爾（Kurt Jaeger）：1871 年後的硬幣，出版者彼得·爾 騰 第 15 版， 巴 塞 爾（Basel），1991 年 , 639 頁。 不 知 道有這個模具，而且在檔案中也沒有證據。 19 德 肯（Deeken），67/68 頁， 根 據： 德 國 殖 民 立 法，XlII，678 頁，簡短介紹鑄造和在青島發行的德國鎳 幣。 參 閱 1906/07 備 忘 錄，31 頁；1907/08，25 頁； 1908/09，9 頁。

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幣發運。鑄幣局這次用拋光模具生產了200 個10 分硬幣、77個5分硬幣，但不

久之後收藏家的需求就已經得到了滿足，因為各面值的硬幣分別只賣出25個或

22個。鑒於鑄幣所獲利潤巨大，沒過多久便有了後繼訂單。1911年3月9日，德 國海軍部加急訂購價值總計25 000元的10 分硬幣和價值總計10 000元的5分硬

幣。由於交付期限很短，仍舊由施維爾特的鎳金屬廠供應金屬坯料，而柏林鑄

幣局於1911年5月8日和12日分兩次將鑄幣交付。鑄幣局在1913年8月28日接到 了最後一筆訂單，訂單包括價值 20 000元的10 分硬幣和價值10 000元的5分硬

20 GSTAPK, Abt. I, Rep. 183，371 號，1911 年 12 月 28 日總督府會計處致柏林硬幣會計處；1912 年 1 月 22 日柏林的鑒定書；1912 年 3 月 2 日青島遞交偽造硬幣 並附上一封信函；邁因哈德（Meinhardt）關於膠州硬 幣受歡迎的消息，10、13 頁。這期間已經知道這兩個偽 造硬幣的事件，參閱耶格爾（Jaeger）（如注釋 19）， 638/639 頁。

21 GSTAPK, Abt. I, Rep.183，371 號，1920 年 12 月 29 日，德國國防部致函鑄幣局以及鑒定書，按當日金屬 行市價 10 分硬幣為 10 芬尼，而 5 分為 7.5 芬尼。

幣。此次還是鎳金屬廠中標，這次中標不是因為其價格最便宜，而是因為交貨 期限是幾次訂單中最短的。因為這些硬幣上的紀年仍用1909 年，鑄幣局便讓財

政部直接批准這個鑄幣訂單。1913年9月27日，鑄幣局在最後一刻將這些鑄幣 運送至不來梅港。

柏林鑄幣局在1909至1913年受德國海軍部的委託，總共為膠州鑄造了670 417

枚10 分硬幣和611 167枚5分硬幣，總值為97 600.05墨西哥元。其中包括為收

藏家用拋光模具鑄造的278 枚10 分硬幣和277枚5分硬幣。1909 年左右，一元 相當於約1.48馬克。這樣在扣除總計13 451.83馬克的費用以後，德國海軍部鑄

幣收入約為130 000馬克。

一方面，價值穩定的德國鎳幣在膠州很受歡迎，因此需求量很大，每年都需新 的鑄幣。可另一方面，市場上出現了偽造幣。例如，青島總督府的財政部門在

1911年12月將山東鐵路公司收到的一個10 分偽幣送到柏林檢驗。基於“這個以 特別技巧仿製的偽幣有很大的社會危害”，鑄幣局要求在膠州的德國當局認真

地偵緝這種偽幣的偽造者和散發者，並且請求將這個偽幣作為樣品留在德國偽 幣收藏館。20

注釋檔出處：

普魯士文化收藏秘密國家檔案（GSTAPK）

主要部分 I，民事展室，Rep. 89，編號 27061，檔案涉 及在德國殖民地的硬幣事業 1890-1914

主要部分 I，普魯士國家硬幣，王家鑄幣局，Rep. 183， 編號 351，檔案涉及中國的硬幣改革……1887-1902 同上，編號 371，檔案涉及為膠州鑄……1900-1913

同 上， 編 號 886， 購 置 辦 公 用 …… 為 膠 州 製 造 的 鎳 幣

1905-1913

官方公文最後一次提到膠州硬幣是德國海軍部的後繼機構德國國防部海軍指

揮部於1920 年12月向鑄幣局詢問鑄幣金屬的價值。顯然剩餘的硬幣應該銷毀

作廢。21

（在此特別感謝柏林錢幣館藏、條頓堡 Münzauktion 拍賣和普魯士文化收藏

秘密國家檔案。作者也感謝德國的托馬斯 · 烏爾曼先生幫助編輯本文。）

參考文獻：

拉 爾 夫· 阿 爾 特 霍 夫（Ralf Althoff）： 魁 勒· 奧 斯 巴 爾 （Koehler-Osbahr）收藏，卷 II/I，《中國、緬甸、朝 鮮和日本在硬幣以前的支付手段和特殊貨幣形式》，出版 者，杜伊斯堡（Duisburg）文化和城市歷史博物館，杜 伊斯堡，1993 年。

馬克斯·德肯（Max Deeken）：《德國殖民地的貨幣事業》， 明斯特，1913 年，尤其是 55-72 頁。

哈納（G. W. Hanna）：《德意志帝國和膠州，古斯塔夫 . 阿 道 夫· 申 克· 施 瓦 因 伯 格 男 爵（Gustav Adolf Freiherr Schenck zu Schweinsberg，1843-1909）為皇帝帝國搞 到膠州》，見《貨幣史消息》，14，1979 年，69 號，33 頁。 阿諾爾特·凱勒（Arnold Keller）：德意志帝國的紙幣， 明斯特，1967 年，尤其是 122-135 頁。 貢特·邁因哈特（Guenther Meinhardt）：《前德國保護 區的貨幣史》，第 7 冊：《德國在中國》，見《貨幣收 藏家評論》，特刊 30 號，多爾特蒙特（Dortmund）， 1965 年。

馬 克 希 米 廉· 密 勒· 雅 佈 施（Maximilian MuellerJabusch）：《德華銀行 50 年》（1890- 1939），柏林， 1940 年。 漢 斯· 施 溫 克（Hans Schwenke）：1871- 1914 年 德 國 的貨幣，柏林，1980 年，尤其是 171-181 頁。

弗裏德裏希·維伯爾（Friedrich Weber）：《殖民地的財 政管理，殖民法的論文》，出版者：胡伯特· 南恩德魯普 （Hubert Naendrup），H.2，明斯特，1909 年

設計草圖

圖片來源 : GSTAPK, Abt. 1, Rep. 183，371 號。

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Originally published at ngc.com

Pergamum Coinage under the Romans ◎ David Vagi〔USA〕

Coinage attributed to Pergamum was both practical and

Eumenes II suppor ted Rome in its war against the

celebratory-a reflection of the city's exalted status.

Seleucid King Antiochus III (222-187 B.C.), which culminated in a victory at Magnesia in 190 B.C. and a treaty, the Peace of Apamea.

In the previous column we surveyed the Greek coinage of Pergamum, a powerful fortress-city in northwest Asia Minor about 15 miles inland from the Aegean Sea. There

When Pergamum's last king Attalus III (139/8-133 B.C.),

we noted that under its king Eumenes II (197-159 B.C.),

who had no legitimate sons or heirs, died in 133 B.C., he

Pergamum became a strong ally of Rome-a foreign power

bequeathed his kingdom to Rome, which then assumed

that recently had taken an interest in dominating the Near

the responsibility of issuing Pergamene coins.

East.

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Though struck af ter the Romans had inherited the

Thyatira, with the example above being from Thyatira.

Pergamene empire, the coin above was not issued by the Romans, but by Aristonicus, a rebel who sought to restore

The silver didrachm (half-cistophorus) above was struck

the independence of Pergamum. Aristonicus claimed

at Pergamum by the Romans in the period 123 to 104

to be an illigetimate son of the former king Eumenes II,

B.C. Significantly rarer than cistophori, these coins bear

and thus assumed the name Eumenes III as he pursued

on their obverse a Herculean lion skin draped over a club,

his hopeless cause from c.133 to 129 B.C. He issued

within an ivy wreath, and on their reverse a grape cluster

cistophori at three cities, Apollonis, Stratoniceia and

upon a vine leaf.

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A great many bronze coins were struck at Pergamum

Pergemene bronze coins above, all of which portray the

by the Romans, both when Rome was still a republic

healing-god Aesculapius. The reverses of the first two

and when in 27 B.C, historians consider Rome to have

show an eagle standing on a thunderbolt; the third shows

became an empire. Above are four examples from the

a coiled serpent; the fourth a serpent-entwined staff.

early period, c.133-27 B.C., all of which portray on their obverse the goddess Athena. The first shows on its

Above are three cistophori issued at Pergamum under

reverse Nike; the second an owl on a palm frond; the third

Roman rule. They bear the usual types: a cista (a sacred

a standing owl; the fourth a military trophy.

basket) from which a serpent escapes and a bow in its case, flanked by serpents. Scholars date the first two to c.96-92 B.C. and the third to c.85-76 B.C.

A l s o f r o m t h e p e r i o d c .13 3 -27 B .C. a r e t h e f o ur

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13 Roman authority in Asia Minor was challenged by wars and uprisings fomented by the Pontic king Mithradates VI (120-63 B.C.). Indeed, he captured many important cities in the Greek world, including Athens and Pergamum.

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Above are two ancient coins of this belicose king, showing

cistophori'(above) - so-called because they bear the

on their obverses his portrait and on their reverses a

names of Roman proconsuls with authority in the region.

wreath around a drinking stag. These coins bear precise

The first names the proconcul C.Claudius Ap.f. Pulcher

dates. First is a gold stater dated to September, 74 B.C.;

and is dateable to 55-53 B.C.; the second names the

next is a silver tetradrachm dated to August, 75 B.C.

imperator and proconsul of Syria Q.Caecilius Metellius Pius Scipio, and is dateable to 49-48 B.C.

After Mithradates VI was defeated, Rome struck more coinage at Pergamum, including the two‘proconsular

Pergamum may also have been the mint for some very

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large issues of cistophori bearing the portrait of Rome's

two possible issues of that mint, the first showing on its

first emperor, Augustus (27 B.C.-A.D. 14), though this is

reverse a standing heifer, the second with a crocodile and

not certain. A selection of four are shown above.

the inscription AEGYPTO CAPTA.

The reverse types, from top to bottom, are: a tetrastyle

During Roman times, Pergamum retained its traditional

temple of Rome and Augustus; a signum within a round

importance, being counted among the three great cities

temple of Mars Ultor; a triumphal arch of Augustus

of Rome's Province of Asia. Its coinage in this period was

surmounted by a quadriga; a capricorn with a cornucopia

both practical and celebratory - a reflection of the city's

at its shoulder.

exalted status.

Other ancient coins often attributed to Pergamum include

Below, a very small sampling of these coins is presented.

silver denarii with the portrait of Augustus. Above are

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All three of the coins above are Julio-Claudian. The first, an issue of A.D. 14-29, portrays Augustus' wife (Livia) and daughter (Julia). The second portrays Livia and her son, the emperor Tiberius (A.D. 14-37). The third is an 'autonomous' bronze with portraits representing Rome and the Senate struck under the emperor Claudius (A.D. 41-54) or Nero (A.D. 54-68).

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From the era of the Adoptive Emperors are three Pergamene bronzes shown above. The first portrays the emperor Trajan (A.D. 98-117) and the god Zeus; the second the empress Sabina (A.D. 128(?)-136/7) and Koronis (a mortal lover of the god Apollo); the third the emperor Commodus (A.D. 161-180) and the gods Hygieia and Aesculapius.

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Another provincial bronze of Pergamum is the 43mm

The final issues we'll examine are homonoia coinages,

'medallion' above which shows the confronted portraits

better known as 'alliance coins' because they celebrate

of the emperor Septimius Severus (A.D. 193-211) and

what amounted to spiritual brotherhoods of two cities,

his wife, the empress Julia Domna. The reverse shows a

which often were supported by commercial, religious or

Victimarius preparing to strike a sacrificial bull beneath a

ancestral ties. Sometimes the cities were close neighbors,

statue of the emperor set on a cippus.

other times they were quite far apart.

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A bove are t wo homonoia c oins from the reign of

second celebrates the same relationship, but was issued

Augustus. The first was issued at Pergamum and reflects

at Sardes.

its alliance with Sardes, an important city in Lydia. The

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We'll close with two alliance 'medallions' issued at

emperor Commodus; second is a 39mm bronze of the

Pergamum in celebration of its homonoia with the Ionian

emperor Gallienus (A.D. 253-268).

city of Ephesus. First is a 42mm bronze struck for the

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古羅馬帕加馬錢幣

原刊載於 NGC

◎ 大衛 · 瓦吉〔美國〕

歐 邁 尼 斯二世在羅 馬對 塞 琉古國王安 提阿哥三世

帕加馬錢幣既實用又富有紀念意義，同時反映了這個城市

（Antiochus III，公元前222到前187年在位）的戰爭中支

的重要地位。

持羅馬，最終於公元前190 年在馬格尼西亞取得勝利，並簽

我們在之前的專欄中研究了古希臘的帕加馬錢幣。帕加馬

訂了《阿帕米亞和約》（the Peace of Apamea）。

英里。我們在此前的文章中曾提到，在帕加馬王國阿塔羅

帕加馬的最後一位國王阿塔羅斯三世（Attalus III，公元前

159年在位）統治期間，帕加馬成為了羅馬強大的盟友，意

兒子或繼承人，他在遺囑中將帕加馬“贈予羅馬”。此後，

是小亞細亞西北部一個強大的要塞城市，距離愛琴海約15 斯王朝統治者歐邁尼斯二世（Eumenes II，公元前197到前

139/8到前133年在位）在公元前133年去世時沒有合法的

圖統治近東。

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羅馬承擔起了發行帕加馬錢幣的責任。

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雖然上面這枚錢幣是在羅馬人統治帕加馬帝國之後鑄造的，

而圖1這枚銀幣正是在推雅推拉發行的。

的叛亂者阿裏斯托尼克斯（Aristonicus）發行的。他聲稱

上面圖2這枚迪拉姆銀幣（dirham）是羅馬人在公元前123

但並不是由羅馬人發行的，而是由試圖使帕加馬恢復獨立

年至104 年期間在帕加馬鑄造的。這些錢幣比西斯托菲裏

自己是前國王歐 邁尼斯二世的私生子，因此在公元前133 年至公元前129 年期間，他在阿波羅尼斯（Apollonis）、斯

銀幣更為罕見。其正面為赫爾克裏斯的橄欖大棒，上面覆

座城市發行了一種名為“西斯托菲裏”(cistophori) 的銀幣，

葡萄樹葉。

特 拉 尼西亞（Stratoniceia）和推 雅 推 拉（Thyatira）這 三

蓋着尼密阿獅皮，周圍是常春藤花環，背面則為葡萄簇和

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5

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無論是羅馬共和國時期，還是在公元前27年被歷史學家稱

鑄造的，它們上面的圖都是羅馬神話中的“醫術之神”埃斯

圖3-6是早期（約公元前133到前27年）的四枚帕加馬錢幣，

洗禮的雄鷹 ；第三枚的背面是一條盤繞的蛇 ；第四枚的背

庫拉庇烏斯（Aesculapius）。前兩枚的背面是一只接受雷電

為羅馬帝國的時期，羅馬人都在帕加馬鑄造了大量的銅幣。 它們的正面都是雅典娜女神的形象。第一枚的背面是勝利

面是一根被蛇纏繞著的權杖。

女神尼姬（Nike）；第二枚的背面是 立於棕櫚樹上的貓頭

圖11-13三枚是羅馬統治時期的帕加馬西斯托菲裏銀幣。它

鷹 ；第三枚的背面是站立的貓頭鷹 ；第四枚的背面是戰利

們上面是常見的圖案 ：一條蛇從蛇籃裏面逃出來，周圍是

品的圖案。

一圈花環。學者們認為前兩枚是公元前96到前92年發行的，

圖7-10 四枚帕加馬銅幣也是在約公元前133到前27年期間

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第三枚是公元前85到前 76年發行的。

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之後，本都（歷史上黑海東南邊的一個王國，西起哈裏斯河，

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東到科爾基斯）國王米特拉達梯六世（Mithradates VI，公 元前120到前63年在位）挑起戰爭並反叛，羅馬在小亞細亞

的權威受到了的挑戰。事實上，米特拉達梯六世當時佔領了 古希臘的許多重要城市，包括雅典和帕加馬。

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圖14、15兩枚錢幣是關於這位好戰的國王的，正面是他的肖

第一枚上的名字為克勞迪烏斯 · 普爾切（C.Claudius Ap.f.

鹿。這兩枚錢幣上都有精確的紀年。第一枚金幣是公元前74

上的名字為克溫圖斯 · 凱奇利烏斯 · 梅特路斯 · 皮烏斯 · 斯奇

Pulcher），其管理時期可追溯到公元前55到前53年 ；第二枚

像，反面是一只正在飲水的雄鹿，周圍有一圈花環圍繞着雄

年9月 ；第二枚4德拉馬克銀幣是公元前75年8月。

，其管理時 比奧（Quintus Caecilius Metellus Pius Scipio） 期可追溯到公元前49-48年。

米特拉達梯六世被打敗後，羅馬在帕加馬鑄造了更多的錢幣， 包括圖16、17兩枚古羅馬地方總督西斯托菲裏銀幣。之所以

帕加馬也可能是一些印有羅馬第一任皇帝奧古斯都（其管理

時期，公元前27年到公元14年在位）肖像的西斯托菲裏銀幣

叫這個名稱是因為它們印有管理該地區的羅馬總督的名字。

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的鑄造地，但這並不確定。圖18-21是精選的四張錢幣照片。

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是一頭站立的小母牛，第二枚的背面有一條鱷魚，並刻有

“AEGYPTO CAPTA”字樣。

背面圖案依次是 ：羅馬和奧古斯都的四柱式神廟 ；戰神烏爾 托（Mars Ultor）的神廟 ；上載着四輛戰車的奧古斯都凱旋

在羅馬時代，帕加馬仍然具有重要的地位，被列為羅馬亞細

門 ；肩頭扛着豐饒之角的海山羊。

亞行省的三大城市之一。這一時期的帕加馬錢幣既實用又富 有紀念意義，同時反映了這個城市的重要地位。

其他經常被認為是帕加馬錢幣的包括帶有奧古斯都肖像的

銀幣。圖22 、23兩枚可能為這種兩枚錢幣。第一枚的背面

以下是一小部分羅馬統治時期的帕加馬錢幣。

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24

圖24-26 都是 朱 裏 亞 · 克勞狄 王朝（Julio-Claudian）時期

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的錢幣。第一枚是公元14到29年發行的，圖案是奧古斯都 。第二枚的圖 的妻子利維婭（Livia）和女兒朱莉婭（Julia）

案是利維亞和她的兒子⸺ 羅馬的第二位皇帝提比略（Julio-

Claudian，公元14-37年）。第三枚錢幣上是克勞狄烏斯皇帝

（Julio-Claudian，公元41到54年在位）統治時期或尼祿皇帝

（Nero，公元54-68年在位）統治時期鑄造的代表羅馬元老 院的肖像。

27

28

圖27-29所示的三枚帕加馬銅幣，第一枚描繪的是羅馬帝國

29

皇帝圖拉真（Trajan，公元98到117年在位）和宙斯 ；第二枚

描繪的是薩比娜皇后（Sabina，公元128(?)-136/7年）和凡

人女子科羅尼斯（Koronis，阿波羅的情人）；第三枚描繪的

、希 是康莫德斯皇帝（Commodus，公元161到180年在位）

臘健康女神希吉亞（Hygieia）和羅馬人的醫神埃斯克萊庇厄 。 斯（Aesculapius）

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另一枚 帕 加 馬 的 青 銅 製 品 是 圖30這 枚 直徑43毫 米 的“紀

，或將其稱 我們最後要研究的是荷摩諾亞錢幣（Homonoia）

念章” ， 正 面 是 皇 帝 塞 普 蒂 米 烏 斯 · 塞 維 魯（Septimius

為“聯盟幣”會更好，因為這種錢幣是為了紀念兩座城市之間

（Julia Domna）面對面的肖像。背面描繪了一個在皇帝的寶

弟，往往是因為它們有着商業關係、宗教關係或祖先關係為

Severus，公元 193到211在位）和他的妻子朱莉婭 · 多姆娜

像兄弟一樣的關係而鑄造的。兩座城市間的關係能夠親如兄

座下方敲打祭祀用的公牛的人。

紐帶的緣故。有時這些城市是近鄰，有時則相距甚遠。

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上面兩枚是奧古斯都統治時期的荷摩諾亞錢幣。第一枚是在

係。第二枚錢幣也是為了紀念帕加馬與薩迪斯的友好關係而

帕加馬發行的，反映了它與呂底亞王國首都薩迪斯的友好關

鑄造，但它是在薩迪斯發行。 （圖31、32）

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第二枚是為加裏恩努斯皇帝（Commodus，公元253到268

本文最後將介紹帕加馬發行的兩枚聯盟“紀念章” ，它們是為

年）統治時期鑄造的39毫米銅幣。 （圖33、34）

了紀念帕加馬與愛奧尼亞希臘城市⸺ 以弗所的友好關係而

鑄造的。第一枚是康茂德皇帝統治時期鑄造的42毫米銅幣 ；

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Over a Dozen Times, NGC-certified Coins Topped $1 Million in 2021 ◎ Jeff Garrett〔USA〕 The million-dollar coins include US, Russian, British and

$9.36 million, which at the time was a record for any gold coin

Chinese rarities, reflecting NGC's position as the global leader in

sold at auction.

third-party coin authentication and grading. The table below listing the seven-figure coin sales can be sorted Over a dozen times, coins certified by Numismatic Guaranty

automatically by clicking on the column headers. Click on the

Corporation® (NGC®) realized prices over $1 million at

name of the coin to jump to an image and description of that

auctions in 2021. They include a Brasher Doubloon that realized

coin, or keep scrolling to see all of the coins.

Country

USA

Russia

Coin

Grade

Sale Date

Sale Price

1787 'EB' on Wing Brasher Doubloon pedigreed to the Partrick Collection

NGC MS 65 ★

1913 Liberty Nickel

NGC PF 64+

November 8, 2021

over $4 million

1907 Extremely High Relief Double Eagle

NGC PF 68

February 24, 2021

$3.6 million

1825 Rouble pedigreed to Joseph, Richter and the Pinnacle Collection

NGC PF 62

April 6, 2021

January 21, 2021 $9.36 million

$2.64 million

1937 Gold Pattern Edward VIII 5 Sovereign pedigreed to the Paramount Collection

NGC PF 67 Ultra Cameo October 21, 2021

$2.45 million

1937 Gold Pattern Edward VIII 5 Sovereign pedigreed to the Paramount Collection

NGC PF 67 Ultra Cameo

March 26, 2021

$2.28 million

YR 17 (1928) China Pattern Silver Dollar

NGC MS 62

December 11, 2021

$2.16 million

1786 Lima-Style Brasher Doubloon pedigreed to the Partrick Collection

NGC MS 61

January 21, 2021

$2.1 million

1921 Roman Finish Double Eagle

NGC PF 64+

August 18, 2021

$2.01 million

1880 Coiled Hair Stella

NGC PF 67 Cameo

UK

1839 "Una and the Lion" 5 Sovereign

NGC PF 66 ★ Ultra Cameo

August 19, 2021

$1.44 million

China

YR 3 (1911) Long Whiskered Dragon Silver Dollar pedigreed to the NC Collection

NGC MS 64

May 30, 2021

$1.34 million

USA

1792 Judd-13 Pattern Quarter

NGC AU 58

April 25, 2021

$1.26 million

China

YR 23 (1911) China Long-Whiskered Dragon Silver Dollar

NGC MS 61

December 11, 2021

$1.2 million

USA

1776 Silver Continental Dollar pedigreed to the Romano and Partrick Collections

NGC VF 35

April 25, 2021

$1.14 million

China

YR 33 (1907) Chihli Tael pedigreed to the NC Collection

NGC MS 63

May 30, 2021

$1.1 million

UK

China

USA

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February 24, 2021 $1.86 million

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NGC-certified Coins That Realized Seven Figures in 2021

The coin: 1787 'EB' on Wing New York Style Brasher

Doubloon

The grade: NGC MS 65 ★

The pedigree: Donald G. Partrick Collection

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The sale price: $9.36 million Why it's special

The centerpiece of the Partrick Collection, this coin realized a record $9.36 million at a Heritage Auctions sale in January 2021. Brasher Doubloons were the first gold coins struck in the newly independent United States. Only nine are known, with this one being the finest.

The coin: 1913 Liberty Nickel The grade: NGC PF 64+

The pedigree: The Hawaii Five-O Coin

The sale price: over $4 million

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Why it's special

Only five examples of the 1913 Liberty Nickel exist. Their origins remain shrouded in mystery, but there is no doubt that they stand at the pinnacle of numismatics today. Stack's Bowers announced the sale of this example - known as the Hawaii Five-O coin - for over $4 million in November 2021.

The coin: 1907 Extremely High Relief, Lettered Edge $20 The grade: NGC PF 68

The pedigree: The Paramount Collection

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The sale price: $3.6 million

Why it's special

These initial specimens of the inaugural Saint-Gaudens Double Eagle reign as some of the mostprized artifacts in all of US coinage. Only about 20 are known in Extremely High Relief. This was the focal point of the US coins portion of the ambitious Paramount Collection. It realized $3.6 million at a Heritage Auctions sale in February 2021.

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The coin: Russia 1825 Constantine Rouble The grade: NGC PF 62

The pedigree: Joseph/Richter, Spassky Plate 4

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The sale price: $2.64 million Why it's special

This Russian coin set the record for most expensive world coin in a Stack's Bowers auction when it realized $2.64 million in April 2021. It was struck for Constantine, who was expected to become emperor after his brother's death in 1825 but refused to take the throne. Only eight of these coins are known, including three in museums.

The coin: Great Britain 1937 Edward VIII Pattern 5 Sovereign The grade: NGC PF 67 Ultra Cameo

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The pedigree: The Paramount Collection The sale price: $2.28 million Why it's special

This coin realized $2.28 million at a Heritage sale in March 2021, and then $2.45 million at an MDC Monaco sale in October, breaking the record for a British coin at auction. After his father died in January 1936, Edward VIII became king, but he abdicated in December to marry a divorced American socialite. A small number of Edward VIII patterns for coins are cherished as some of the greatest rarities in British numismatics.

The coin: YR 17 (1928) China Pattern Silver Dollar The grade: NGC MS 62

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The sale price: $2.16 million Why it's special

This coin realized $2.28 million at a Heritage sale in December 2021, the secondhighest price paid for any vintage Chinese coin. This pattern shows Zhang Zuolin, also known as the "Mukden Tiger." A warlord of Manchuria, he gained the presidency in June 1927 and ruled for just under a year before he was driven from power and assassinated.

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The coin: 1786 Lima-Style Brasher Doubloon The grade: NGC MS 61

The pedigree: Donald G. Partrick Collection 8

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The sale price: $2.1 million Why it's special

Brasher Doubloons take their name from the man who created them, renowned New York City gold and silversmith Ephraim Brasher. This particular example, a Lima-Style that imitates a Spanish gold coin, realized $2.1 million at a Heritage Auctions sale in January 2021. In the same sale, a New York-Style realized a record $9.36 million.

The coin: 1921 Roman Finish Double Eagle The grade: NGC PF 64+

The sale price: $2.01 million 9

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Why it's special

This coin was struck at a time when the US Mint was overhauling the nation's coinage and experimenting with different finishes. Double Eagle Proofs were believed to have ended with the 1915 issue until two with the 1921 date showed up at auctions in the early 2000s. The finer of the two known, this coin realized $2.01 million at a Heritage Auctions sale in August 2021. The other example is believed to have been given by the Mint Director to his nephew.

The coin: 1880 Coiled Hair Stella The grade: NGC PF 67 Cameo

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The pedigree: Paramount Collection The sale price: $1.86 million Why it's special

These $4 gold coins were meant to compete in international trade with European coins of similar worth, but only a few hundred patterns were struck before the experiment was canceled. Versions exist dated 1879 and 1880, with the Liberty head on the obverse sporting either coiled hair or flowing hair. The 1880 Coiled Hair is the rarest, with only nine known to exist. This one realized $1.86 million at a Heritage Auctions sale in February 2021.

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The coin: 1839 Great Britain "Una and the Lion" 5 Sovereign

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The grade: NGC PF 66 ★ Ultra Cameo The sale price: $1.44 million Why it's special

The finest-graded "Una and the Lion" 5 Sovereign realized a record $1.44 million at a Heritage Auctions sale in August 2021. These coins were struck to celebrate the ascension of the young Queen Victoria to the throne. The design is inspired by Edmund Spenser's 1590 poem "The Faerie Queene" and is widely considered to be the most beautiful of British coins. This example also earned NGC's trademarked Star ( ★ ) Designation in recognition of its exquisite eye appeal.

The coin: China (1911) Long Whiskered Dragon Silver Dollar The grade: NGC MS 64

The pedigree: NC Collection The sale price: $1.34 million

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Why it's special

The NGC-graded NC Collection realized $18 million at a Champion Macau auction in May 2021, a record for a Chinese collection at auction. This Long Whiskered Dragon realized $1.34 million in that sale. It is the finest-known example of a muchadmired coin designed by famed coin designer Luigi Giorgi.

The coin: 1792 Judd-13 Pattern Quarter The grade: NGC AU 58

The sale price: $1.26 million 13

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Why it's special

This particular example, one of only four known, realized $1.26 million at a Heritage Auctions sale in April 2021, its first appearance at public auction. It was struck in the early 1790s as the US Mint was preparing to roll out a national coinage. Though this pattern was not used for circulating coinage, certain elements of its design are echoed in the first quarters issued a few years later.

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The coin: YR 23 (1911) China Long Whiskered Dragon Silver

Dollar

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The grade: NGC MS 61

The sale price: $1.2 million Why it's special

This coin realized $1.2 million at a Heritage sale in December 2021, the NGCcertified second Long-Whiskered Dragon to realize seven figures in 2021. Struck right before the end of China's Imperial era, this high-grade coin features renowned engraver Luigi Giorgi's beloved dragon design on the obverse. Giorgi went on to design some of the most important coins of China's Republican era.

The coin: 1776 Silver Continental Dollar The grade: NGC VF 35

The pedigree: Romano and Partrick Collections The sale price: $1.14 million

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Why it's special

With their powerful designs and all-important "1776" date, Continental Dollars comprise a highly prized niche of early American numismatics. Only four are known in silver; all are NGC-certified and each has now realized a price over $1 million, including this one, which sold for $1.14 million at a Heritage Auctions sale in April 2021.

The coin: YR 33 (1907) Chihli Tael

The grade: NGC MS 63

The pedigree: NC Collection 16

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The sale price: $1.1 million Why it's special

This is one of the finest known and one of the most coveted of the Chinese Dragon Tael series. The coin flew past its estimate of $200,000 to $400,000 to realize $1.1 million at a Champion Macau auction in May 2021. The NC Collection featured coins that are among the most desirable in Chinese numismatics, carefully collected by one of China's most famous families.

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2021年

經NGC認證的硬幣 有十幾枚的價格突破100萬美元 ◎ 傑夫·加勒特〔美國〕 這些價值百萬美元的硬幣中包括美國、俄羅斯、英國和中

幣，拍出了 936 萬美元的價格，在當時創下了拍賣紀錄。

的全球領導者的地位。

下面的表格列出了拍出了七位數的錢幣，可以通過點擊列

在 2021 年的拍賣會上，經 NGC 認證的錢幣有十多枚拍出

和描述，或者可以繼續滾動查看所有的錢幣。

國的珍品，反映了 NGC 作為第三方硬幣鑒定和評級機構

標題自動排序。點擊錢幣的名字可以跳轉到該錢幣的圖片

了超過 100 萬美元的價格。其中包括一枚布拉瑟達布倫金

國家

美國

俄羅斯

英國

中國

錢幣名稱

錢幣等級

拍賣日期

拍賣成交價格

1787 年鷹翼“EB”印記版紐約風格布拉瑟達布 倫金幣，唐納德·G·帕特裏克舊藏

NGC MS 65 ★

2021 年 1 月 21 日

936 萬美元

1913 年自由女神像 5 美分鎳幣

NGC PF 64+

2021 年 11 月 8 日

超過 400 萬美元

1907 年特高浮雕字母邊 20 美元雙鷹金幣

NGC PF 68

2021 年 2 月 24 日

360 萬美元

1825-CNB 俄羅斯 1 盧布銀樣幣，約瑟夫 / 裏希 特舊藏

NGC PF 62

2021 年 4 月 6 日

264 萬美元

英國 1937 年愛德華八世 5 索維林金質樣幣，派 NGC PF 67 超高浮雕 2021 年 10 月 21 日 拉蒙舊藏

245 萬美元

1937 年愛德華八世 5 索維林金質樣幣，派拉蒙 NGC PF 67 超高浮雕 舊藏

2021 年 3 月 26 日

228 萬美元

民國十七年（1928 年）張作霖文裝像銀質樣幣

NGC MS 62

2021 年 12 月 11 日

216 萬美元

1786 利馬風格瑟達布倫金幣，帕特裏克舊藏

NGC MS 61

2021 年 1 月 21 日

210 萬美元

1921 年版面值 20 美元羅馬聖賢雙鷹金幣

NGC PF 64+

2021 年 8 月 18 日

201 萬美元

1880 年版面值 4 美元捲髮女神金幣

NGC PF 67 浮雕

2021 年 2 月 24 日

186 萬美元

英國

1839 年維多利亞“尤娜與獅子”5 英鎊金幣

NGC PF 66 ★ 超高浮雕

2021 年 8 月 19 日

144 萬美元

中國

宣統三年（1911 年）長須龍銀元，張南琛舊藏

NGC MS 64

2021 年 5 月 30 日

134 萬美元

美國

1792 年 25 美分樣幣 (Judd-13)

NGC AU 58

2021 年 4 月 25 日

126 萬美元

中國

宣統三年 (1911 年 ) 大清銀幣“長須龍”壹圓 樣幣

NGC MS 61

2021 年 12 月 11 日

120 萬美元

美國

1776 年美國獨立戰爭時發行的大陸幣 Romano 與帕特裏克舊藏

NGC VF 35

2021 年 4 月 25 日

114 萬美元

中國

1907 年北洋一兩銀質樣幣，張南琛舊藏

NGC MS 63

2021 年 5 月 30 日

110 萬美元

美國

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2021 年成交價為七位數的 NGC 認證錢幣 錢幣名稱：1787 年鷹翼“EB”印記版紐約風格布拉瑟達布倫金幣 評級等級：NGC-MS65 ★

系譜：唐納德·G·帕特裏克舊藏 拍賣成交價：960 萬美元

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為什麼它很特別

作為帕特裏克收藏中的核心藏品，這枚布拉瑟達布倫金幣於 2021 年 1 月的海瑞得拍賣會

上獲得了 936 萬美元的成交佳績。布拉瑟達布倫金幣是在美國獨立初期所鑄造的首批金幣。 目前已知僅九枚，這一枚豔壓群芳。

錢幣名稱：1913 年自由女神像 5 美分鎳幣 評級等級：NGC-PF64+

系譜：《檀島騎警》中客串登場的一枚幣 2

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拍賣成交價：400 萬美元

為什麼它很特別

1913 年自由女神像 5 美分鎳幣的鑄造量僅為 5 枚，且均為造幣廠私造。它們的起源仍然

籠罩在神秘之中，但毫無疑問，它們今天站在錢幣學的巔峰。這枚自由女神像 5 美分鎳

幣還曾在 1973 年播出的好萊塢電視劇集《檀島騎警》（Hawaii Five-O）中客串登場。

斯達克·鮑沃斯拍賣行（Stack's Bowers）在 2021 年 11 月宣佈以超過 400 萬美元的價格

出售這枚幣。

錢幣名稱：1907 年特高浮雕字母邊 20 美元雙鷹金幣

評級等級：NGC-PF68 系譜：派拉蒙舊藏

拍賣成交價：360 萬美元

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為什麼它很特別

這些別具匠心的聖·高登斯雙鷹初期樣幣是美國鑄幣中彌足珍貴的瑰寶。現知的特高浮雕

雙鷹金幣僅有約 20 枚。而其中的這一枚在派拉蒙舊藏之美國硬幣中尤為矚目。在 2021 年 2 月的海瑞得拍賣會上，該枚雙鷹金幣斬獲 360 萬美元的成交佳績。

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錢幣名稱：1825-CNB 俄羅斯 1 盧布銀樣幣 評級等級：NGC PF 62

系譜：約瑟夫 / 裏希特舊藏 4

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拍賣成交價：264 萬美元

為什麼它很特別

這枚俄羅斯硬幣在 2021 年 4 月創造了斯達克·鮑沃斯拍賣行（Stack's Bowers）上最昂貴

的世界硬幣拍賣記錄，當時它以 264 萬美元的價格成交。它是為康斯坦丁鑄造的，在他

哥哥 1825 年去世後，他有望成為皇帝，但他拒絕接受王位。這枚幣為已知的八枚錢幣中

的一枚，同時也是八枚錢幣中僅有的三枚光邊版錢幣之一。

錢幣名稱：英國 1937 年愛德華八世 5 索維林金質樣幣 評級等級：NGC PF 67 超高浮雕

系譜：派拉蒙舊藏 6

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拍賣成交價：228 萬美元

為什麼它很特別

這枚硬幣在 2021 年 3 月的海瑞得拍賣會上的成交價為 228 萬美元，然後在 10 月的摩納

哥 MDC 拍賣公司舉行的拍賣會上的成交價為 245 萬美元，打破了英國硬幣的拍賣紀錄。

1936 年 1 月他的父親去世後，愛德華八世成為國王，但他在 12 月的時候放棄了王位， 與一位離異的美國社會名媛結婚。少量的愛德華八世硬幣被認為是英國錢幣中最稀有的珍 品。

錢幣名稱：民國十七年（1928 年）張作霖文裝像銀質樣幣

評級等級：NGC MS 62

拍賣成交價：216 萬美元

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為什麼它很特別

這枚錢幣在 2021 年 12 月的海瑞得拍賣會上拍出了 228 萬美元的價錢，是中國機製幣第 二高的價格。這個圖案顯示的是張作霖，他也被稱為“奉天之虎”。作為滿洲的軍閥，他

在 1927 年 6 月行使代理總統職權，成為國家最高統治者，隨後他被暗殺，只統治了不到 一年的時間。

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錢幣名稱：1786 利馬風格瑟達布倫金幣

評級等級：NGC MS 61

系譜：唐納德 G. 帕特裏克舊藏

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拍賣成交價：210 萬美元

為什麼它很特別

Brasher Doubloons 的 名 字 來 源 於 創 造 這 枚 幣 的 人， 紐 約 市 著 名 的 金 銀 匠 Ephraim

Brasher。這個特殊的例子是模仿西班牙利馬造幣廠造出的金幣，在 2021 年 1 月的海瑞

得拍賣會上以 210 萬美元的價格成交。在同一場拍賣會上，一枚紐約市的這種幣拍出了

936 萬美元的高價。

錢幣名稱：1921 年版面值 20 美元羅馬聖賢雙鷹金幣

評級等級：NGC PF 64+ 拍賣成交價：201 萬美元

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為什麼它很特別

這枚硬幣是在美國鑄幣廠對國家的硬幣進行全面改革並嘗試不同的表面處理時鑄造的。雙

鷹樣幣的發行被認為在 1915 年發行時就已經結束了，直到 2000 年代初在拍賣會上出現

了兩枚帶有 1921 年日期的雙鷹樣幣。這枚錢幣是已知的兩枚中較好的一枚，在 2021 年

8 月的海瑞得拍賣會上賣出了 201 萬美元的價錢。據瞭解，買下這枚金幣的是美國鑄幣局

局長雷蒙德 - 貝克為了紀念其侄子的出生，命令鑄幣工人鑄造了這枚金幣。

錢幣名稱：1880 年版面值 4 美元捲髮女神金幣 評級等級：NGC PF 67 高浮雕

系譜：派拉蒙舊藏 10

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拍賣成交價：186 萬美元

為什麼它很特別

面值 4 美元的金幣非常少見，原本是為了在國際上的交易中與價值相近的歐洲金幣競爭，

但在實驗被取消前只鑄造了幾百枚。有 1879 年與 1880 年兩個版別。盤卷起的頭髮與飄 逸的頭髮。1880 年的四美元斯特拉捲髮金幣只有 9 枚。這枚幣在 2021 年 2 月的海瑞得

拍賣會上拍出了 186 萬美元。

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錢幣名稱：1839 年維多利亞“尤娜與獅子”5 英鎊金幣 評級等級：NGC PF 66 ★ 超高浮雕

拍賣成交價：144 萬美元 11

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為什麼它很特別

在 2021 年 8 月的海瑞得拍賣會上，品級最好的“尤娜與獅子”5 英鎊金幣拍出了 144 萬

美元的價格。這些硬幣是為慶祝年輕的維多利亞女王登上王位而鑄造的。該設計的靈感來

自於埃德曼·斯賓塞 1590 年的詩歌《仙後》，該幣被廣泛認為是英國硬幣中最美麗的硬幣。 這枚幣在被 NGC 評級時，還被打上了★，因其精緻的視覺吸引力而得名。

錢幣名稱：中國（1911 年）長須龍銀元

評級等級：NGC MS 64 系譜：張南琛舊藏

拍賣成交價：134 萬美元

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為什麼它很特別

在 2021 年 5 月的冠軍澳門拍賣會上，NGC 評級的張南琛收藏錢幣系列拍到了 1 800 萬 美元，創下了中國收藏品拍賣的記錄。這枚長須龍的幣在那次拍賣中拍出了 134 萬美元

的價格。它是著名錢幣設計師路易奇 - 喬治（Luigi Giorgi）設計的備受推崇的錢幣中最 有名的例子。

錢幣名稱：1792 年 25 美分樣幣 (Judd-13) 評級等級：NGC AU 58

拍賣成交價：126 萬美元 13

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為什麼它很特別

這枚特殊的樣幣，是已知的僅有的四枚中的一枚，在 2021 年 4 月的海瑞得拍賣會上拍出

了 126 萬美元，這是它第一次在公開拍賣時出現。它是在 18 世紀 90 年代初鑄造的，當 時美國鑄幣廠正準備推出一種國家貨幣。雖然這個圖案沒有被用於流通硬幣，但其設計的 某些元素在幾年後發行的第一枚 25 美分硬幣中得到了呼應。

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錢幣名稱：宣統三年 (1911 年 ) 大清銀幣“長須龍”壹圓樣幣 評級等級：NGC MS 61

拍賣成交價：120 萬美元 14

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為什麼它很特別

這枚錢幣在 2021 年 12 月的海瑞得拍賣會上拍出了 120 萬美元的價格，是 2021 年第二

枚拍到七位數的 NGC 認證的長須龍錢幣。這枚高檔錢幣在中國皇室時代結束前鑄造，

正面有著名雕刻家路易奇·喬治 (Luigi Giorgi) 心愛的龍的設計。路易奇·喬治後來又設計

了中國民國時期一些最重要的錢幣。

錢幣名稱：1776 年美國獨立戰爭時發行的大陸幣

評級等級：NGC VF 35

系譜：Romano& 張南琛舊藏 拍賣成交價：114 萬美元

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為什麼它很特別

憑藉其設計和 “1776”年這個年份，大陸幣構成了美國早期錢幣學中一個非常珍貴的利 基市場。目前已知的銀幣只有四枚；所有的銀幣都經過 NGC 認證，每一枚的拍賣成交

價格都超過了 100 萬美元，包括這枚，在 2021 年 4 月的海瑞得拍賣會上以 114 萬美元

的價格成交。

錢幣名稱：1907 年北洋一兩銀質樣幣

評級等級： NGC MS 63 系譜：張南琛舊藏

拍賣成交價：110 萬美元

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為什麼它很特別

这是中国龙币系列中最有名的，也是最令人垂涎的。这枚钱币在 2021 年 5 月的冠军澳门 拍卖会上一举突破了 20 万至 40 万美元的估价，张南琛收藏的钱币是中国钱币学中最值 得期待的，这枚币是由中国最著名的家族之一精心收藏的。

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Thomas Pesendorfer Honored With 2022 COTY Lifetime Achievement Award

DEPARTMENTS

Pesendorfer's iconic Vienna Philharmonic Orchestra design has been used on quite a number of bullion pieces from Austria. He stands here next to the largest version, a 100,000 Euro 1,000 ounce gold coin produced in 2004.

◎ Thomas Michael〔USA〕

From 1997 through 2016 at the time of his retirement from

Orchestra design has been used in several different

the Austrian Mint, Thomas Pesendorfer was involved in

metals and many denominations, two of which have won

the design of 18 Coin of the Year award winning coins. I

COTY awards; a feat that remains unparalleled to my

say involved because the Austrian Mint has a fine tradition

recollection.

of working as a tightly woven team, producing coins often created by two or more team members, with many of

The c oin was designed by Pesendor fer near the

the COTY winners having obverse and reverse designs

beginning of his career. For the reverse side he chose

attributed to different designers.

eight characteristic orchestral instruments: four violins either side of a cello in the foreground and the Viennese

While it is an achievement in itself that a team can create

horn, the bassoon and the harp behind. The obverse side

award winning combinations such as this, it sometimes

features the famous pipe organ from the Goldener Saal

complicates the process of awarding the COTY Lifetime

of the Viennese Musikverein, recognized throughout the

Achievement Award. But having more than enough

world as the backdrop to the Philharmonic's New Year

deserving candidates is certainly a "problem" which we

concerts.

are pleased to navigate. Though an undeniably brilliant design, the Philharmonic Bullion traders and collectors will surely know Pesendorfer

was not the only award winner in Pesendorfer's career.

as the designer of the Vienna Philharmonic bullion

Many of his creations garnered recognition in the

coin, which brought the Austrian Mint to the forefront of

numismatic community and as noted above many of

the market. Pesendorfer's iconic Vienna Philharmonic

Pesendorfer's designs have won COTY awards.

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Shortly after winning the COTY Best Gold category

won for COTY Best Silver. This sparked a run of COTY

for his 1989-2000 Schilling Vienna Philharmonic coin,

wins for Pesedorfer-designed coins which culminated

Pesendorfer designed a lovely silver 500 Schilling for

in 2012 with a second award for his famous Vienna

Hallstatt and the Lake Regions which won the COTY

Philharmonic design, this time as a 1.50 Euro, the first

Most Artistic category. He followed that up with a Best

silver bullion piece for the Austrian Mint.

Crown win for an Olympic Ribbon Dancer design on a 200 Schilling which remains a very popular collector piece to

Most of Pesendorfer's wonderful work up to this period

this day.

had been in silver and base metals. Beginning in 2013 Pesendorfer combined with other Design Team members

Three of his 100 Schilling commemorative designs

to create a number of COTY award winning gold coins in

completed from 1997 through 2000 were recognized in

several series including the Gustav Klimt and His Women

various COTY categories and two Bi-metallic circulation

series and the ongoing Austrian Wildlife series of 100

pieces also took awards with a single side designed

Euro gold coins.

by Pesendorfer in the same timeframe. Later in 2011 Pesendorfer produced a reverse for one of the Bi-metallic

Pesendorfer's steady guidance as chief engraver for the

Niobium 25 Euros which have so dominated COT Y

Austrian Mint for over 20 years is clearly a primary factor

competition since their appearance in 2008.

in the great success of the Mint's program during his time there and well past, as many of the designers he worked

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In 2007 a Pesendorfer design for the S.M.S. St. Georg

with in those years have received accolades of their own.

Two years after its exciting launch in 2008, the 2010 dated silver 1.50 Euro bullion coin of Austria, designed entirely by Thomas Pesendorfer, won the COTY "Most Popular" category just one year after his 10 Euro Basilisk had the same recognition.

Thomas Pesendorfer's 2009 Basilisk silver 10 Euro of Austria was much admired in all phases of the COTY process in 2011. It won in the "Most Popular" category which was removed from COTY competition just three years later in 2014.

Winner of the COTY Most Artistic category in 1995 1993 silver 500 Schilling commemorating the Hallstatt and Lakes Region. Thomas Pesendorfer was solely responsible for the coins's design.

From the outstanding Niobium Bi-Metallic 25 Euro series of Austria comes this 2013 COTY Best Contemporary Event award winner featuring this Robotic reverse designed by Thomas Pesendorfer.

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DEPARTMENTS

Following the retirement of Thomas Pesendorfer in 2016,

discovered his vocation was in metal design and was

Helmut Andexlinger, with whom he designed several

eventually advised to join the Austrian Mint, a Mecca for

coins, became head of the design team, ably assisted by

Austrian engravers. During his time there he has scaled

the highly experienced Herbert Wähner and three new

the heights of his profession yet he keeps his feet very

team members, Anna Rastl, Kathrin Kuntner and Rebecca

firmly on the ground, refusing to accept that engraving is

Wilding.

an art but considering it more of an artistic craft.

With Thomas Pesendorfer acting as elder statesman in

This mindset has clearly served Pesendorfer extremely

an advisory role, there is, however, a sense of continuity.

well in his work. In retirement Pesendorfer dedicates his

This stems from the fact the Fachschule für Metalldesign,

life to social activities, some of which involve using his

the technical institute for metal design, located in the

coin producing expertise to make the lives of children,

town of Steyr, is the alma mater of all of the Austrian

refugees and elderly people more enjoyable. He lives

Mint's engravers. The importance of this common bond

a humble but rewarding life these days, so we find

and sense of solidarity that their shared educational

great pleasure in presenting him this COTY Lifetime

experience brings to his talented department is not lost on

Achievement Award in recognition of his quietly stellar

Helmut Andexlinger.

career.

Pesendor fer originally went to the Fachschule für Metalldesign in Steyr to become a sculptor, however, he

Michael Chou (Chief Editor of the Journal of East Asian Numismatics ), Helmet Andexlinger (Chief Designer of the Austrian Mint and designer of the "Best Gold" and "Best Bimetallic" awards of the COTY 2020), and Tong Fang, designer of the 2019 gold and silver panda coins. Group photo at the 2019 Beijing International Coin Fair.

In a short period from 2007 to 2010 Thomas Pesendorfer created a run of wonderful silver 10 and 20 Euro's which won five COTY category awards. This inner view of the Melk Abbey dome displays fantastic depth for a standard struck coin.

Pesendorfer's 2005 commemorative silver 20 Euro for the S.M.S. St. Georg was a 2007 COTY award winner in the Best Silver category. The Statue of Liberty in the background makes this a great coin for an American hobbyist to begin their COTY collection.

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奧地利首席錢幣設計師

托馬斯·佩森多費爾 榮獲 2022 年 COTY

佩森多費爾設計的維也納愛樂樂團圖案 是其標誌性的設計，被用於奧地利發行過 的諸多金銀幣上。他身邊桌上的這枚金幣是 採用了這一設計圖案的最大規格錢幣，即 2004 年 100 000 歐元 1 000 盎司金幣。

終身成就獎

◎ 托馬斯·邁克爾 〔美國〕

托馬斯 · 佩 森 多費爾先生（Thomas Pesendorfer）自1997

幣上。其中兩枚獲得了世界硬幣大獎賽的獎項⸺ 這是很了

年進入奧地利造幣廠至2016年退休，期間參與設計的錢幣

不起的成就。

中，共有18枚在世界硬幣大獎賽上獲獎。之所以說是“參與”， 是因為奧地利造幣廠有着團隊緊密合作的優良傳統，其錢幣

下面第一枚錢幣是佩森多費爾在其職業生涯初期設計的。背

項目往往或有兩個或更多的團隊成員參與創作，如許多獲獎

面設計選用了八種特色管弦樂器，最前面的圖案是一把大提

錢幣，其正面和背面設計乃是由不同設計師設計的。

琴，其兩側共4把小提琴，後面則是維也納號角、巴松和豎 琴。正面是著名的維也納金色大廳管風琴，全世界都知道它 是愛樂樂團新年音樂會的背景。

一個團隊能夠創造出如此多的獲獎錢幣，這本身就是一種了 不起的成就。但有時也會讓評選世界硬幣大獎賽終身成就獎 的過程變得複雜，因為值得被嘉獎的候選者數量會超過名

維也納愛樂樂團紀念幣的設計無疑非常出色，但它並不是佩

額，這當然是一個“問題” ，但是我們很樂意解決這個問題。

森多費爾職業生涯中唯一的獲獎作品。正如前文所述，他的 許多作品得到了錢幣界的廣泛認可，並獲得了世界硬幣大獎 賽的獎項。

金銀幣幣商和收藏家肯定會知道佩森多費爾是維也納愛樂樂 團金銀幣的設計者，它將奧地利造幣廠帶到了市場的前沿。

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佩森多費爾設計的維也納愛樂樂團圖案是其標誌性的設計，

佩森多費爾在他設計的1989年“維也納愛樂樂團”2000先

被用於奧地利發行的各種不通過材質、不同面額的諸多金銀

令投資金幣贏得世界硬幣大獎賽1991年“最佳金幣”獎後，

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又設計了精美的“地區與風俗 · 哈爾施塔特及湖區景色”500

稱裝甲巡洋艦）設計的20歐元紀念銀幣獲得了世界硬幣大獎

先令紀念銀幣，贏得了世界硬幣大獎賽1995年“最佳藝術幣”

賽“最佳銀幣”獎。佩森多費爾設計的錢幣連續獲得世界硬

的榮譽。緊接着，他的“現代奧林匹克運動100周年 · 絲帶

幣大獎賽的獎項，並在2012年第二次以其著名的維也納愛樂

舞”200先令紀念銀幣的贏得了1997年“最佳克朗幣”獎，

樂團設計獲獎，這次是1.50歐元投資銀幣。

該幣至今仍是非常受歡迎的收藏品。 在此之前，佩森多費爾的大部分精彩作品都是銀幣和非貴金 佩森多費爾在1997年至2000年期間獨立設計的100先令紀念

屬材質幣。從2013年開始，佩森多費爾與其他設計團隊成員

幣中，有3枚在世界硬幣大獎賽中獲得認可。期間，還有兩

聯合創作了多個系列的世界硬幣大獎賽獲獎金幣，包括“藝

枚由他進行了單面設計的雙金屬紀念幣獲獎。在2011年，佩

術家古斯塔夫 · 克裏姆特與他畫中的女人”系列，以及正在

森多費爾為一枚“機器人技術的演變⸺ 火星探測機器人”25

發行的奧地利“野生動物”系列100歐元精製紀念金幣。

歐元紅芯銀鈮雙色金屬紀念幣設計了背面圖案，而自2008年 首次推出這種銀鈮雙色金屬紀念幣以來，奧地利造幣廠便一

佩森多費爾作為奧地利造幣廠的首席錢幣設計師，他20多年

直主導着世界硬幣大獎賽“最佳雙金屬幣”的爭奪。

來不斷指導着奧地利造幣廠的設計工作，這顯然是造幣廠項 目在他任職期間取得巨大成功的主要因素。這些年中，許多

2007年，佩森多費爾為奧地利2005年“聖· 喬治號戰艦” （亦

與他合作的設計師也都獲得了屬於自己的榮譽。

繼維也納愛樂樂團紀念幣在 2008 年推出兩年後，完全由托 馬斯·佩森多費爾設計的 2010 年“奧地利愛樂樂團”1.50 歐元投資銀幣面世，該幣獲得了 2012 年世界硬幣大獎賽“最 受歡迎幣”獎——距其設計的“奧地利傳奇故事·維也納蛇 怪”10 歐元紀念銀幣獲得該獎項僅一年之隔。

托馬斯·佩森多費爾設計的 2009 年“奧地利傳奇故事·維 也納蛇怪”10 歐元紀念銀幣，在 2011 年世界硬幣大獎賽 評選的各個階段都備受推崇。最終，它獲得了“最受歡迎幣” 獎。（該單項獎自 2014 年起從世界硬幣大獎賽中取消。）

這枚 1993 年“地區與風俗·哈爾施塔特及湖區景色”500 先令銀幣在 1995 年獲得了世界硬幣大獎賽“最佳藝術幣” 獎，由托馬斯·佩森多費爾獨自設計。

出自奧地利傑出的 25 歐元銀鈮雙色金屬紀念幣系列 , 是 2013 年世界硬幣大獎賽“最佳時事幣”得主，是由托馬斯·佩 森多費爾設計的。

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在佩森多費爾於2016年退休後，與他一起設計了多枚錢幣

了成為一名雕刻師，然而，他發現自己的專業是金屬設計，

的 赫 爾 穆 特 · 安 德 克 斯 林 格（Helmut Andexlinger） 成 為

並最終被建議加入奧地利造幣廠⸺ 一個奧地利雕刻家的

設計團隊的負責人，由經驗豐富的赫伯特 · 韋納（Herbert

聖地。在那裏，他攀登了自己職業的高峰，但他的腳步卻非

Wähner）和三位新團隊成員安娜 · 拉斯特爾（Anna Rastl）、

常堅定，拒絕接受雕刻是一種藝術的說法，而是認為它更像

凱 瑟 琳 · 昆 特 納 *（Kathrin Kuntner） 和 麗 貝 卡 · 威 爾 丁

是一種“藝術工藝”。

（Rebecca Wilding）共同協助工作。 這種心態顯然對佩森多費爾的工作極為有利。在退休後，佩 佩森多費爾如同造幣廠的“元老”現今擔任着顧問的身份，

森多費爾將他的生活獻給了社會活動，其中一些活動涉及利

這是一種傳承。這是因為位於斯泰爾鎮的金屬設計技術學院

用他的錢幣製作專長，使兒童、難民和老人的生活變得更加

（Fachschule für Metalldesign）是奧地利造幣廠所有雕刻師

愉快。

的母校。赫爾穆特 · 安德克斯林格也不會忘記這種共同的紐 帶和團結感，他們共同的教育經歷對於他天才般的部門所具

佩森多費爾過着謙遜而有意義的生活，因此我們非常高興地

有的的重要性。

將這個世界硬幣大獎賽終身成就獎頒發給他，以表彰他默默 無聞的輝煌事業。

佩森多費爾最初進入奧地利斯太爾的金屬設計技術學院是為

在 2007 年至 2010 年的 4 年時間內，佩森多費爾創造了一 系列精彩的 10 歐元和 20 歐元銀幣，贏得了 5 個世界硬幣 大獎賽類別的獎項。奧地利 2007 年“修道院·梅爾克修道 院”10 歐元紀念銀幣以修道院內景為創意進行設計，其穹 頂顯示出了普通鑄幣可以達到的奇妙的深度。

《東亞泉志》總編輯周邁可先生，奧地利造幣廠首席設計 師、2020 世界硬幣大獎賽“最佳金幣”“最佳雙金屬幣” 設計師赫爾穆特·安德斯林格先生 (Helmet Andexlinger)， 2019 版熊貓金銀紀念幣設計師童方女士在 2019 年北京國 際錢幣博覽會上合影。

佩森多費爾為聖喬治號裝甲巡洋艦設計的 2005 年 20 歐元 紀念銀幣獲得了 2007 年世界硬幣大獎賽“最佳銀幣”獎。 背景中的自由女神像使得這枚錢幣成為美國愛好者開始其 收藏世界硬幣大獎賽的錢幣的最佳選擇。

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中國近代機製幣精品鑒賞 ( 第三版 ) TOP CHINESE COINS (Third Edition)

正式發售 張數：298

開本：258mm × 315mm

重量 / 本：2.4Kg

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電話：021-62130771

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地址：上海市常德路寶華大廈 1808 室

TOP CHINESE COINS 3nd Edition

《中國近代機製幣精品鑒賞》第三版 Price( 售價 )：US $150 Plus Postage( 加郵費 )

Coins Survey, a landmark event held in the winter 2009 to search for the 10 most valuable Chinese struck coins. Coins submitted for review were judged by their rarity, historical importance, artistic appeal, condition, market value and group identity. The deluxe bound book offered details on the Top Chinese Coins Survey as well as high-quality pictures, price trends, degrees of rarity and historical context of the 60 top Modern Chinese Coins.

In June 2010, Top Chinese Coins Vol. 1 was published by iAsure Group and the The Journal of East Asian Numismatics (JEAN). Top Chinese Coins Vol. 1 offers an in-depth summary of the final results from the Top Chinese 2010年6月，愛秀集團和《東亞泉志》出版了 《中國近代機製幣精品鑒賞》第一版。該書對60枚中國 最頂級的近代機製幣進行了全面、深入、系統的研究與 展現。其內容涵蓋高清錢幣圖像、流傳脈絡、拍賣紀 錄、市場趨勢、珍稀度解析和背景故事等，在錢幣業界 引起巨大的轟動和反響，備受讚譽，被譽為“全景式展 現中國珍稀機製幣的重要鑒賞書籍”。 儘管因時間蒼促、經驗不足，書中存在一些缺陷和 錯誤，但仍得到讀者的肯定和欣賞。由於該書僅限量印 刷1000本，無法滿足廣大錢幣愛好者的需求。經多位資 深錢幣專家、學者、收藏家建議，愛秀集團決定在第一 版的基礎上出版第二版。第二版於2011年6月發行，相

Top Chinese Coins , Vol. 1 had a limited print run of 1000, leaving many numismatists and enthusiasts unable to purchase a copy of their own. In response to high demand, iAsure has made certain that the second volume which was released in June 2011 will be available to a much wider audience. While Top Chinese Coins Vol. 1 included gold, silver and copper coins, the second volume highlights the great range of silver coins. Because 2010 is ancient history in numismatics and because so much has happened in the Chinese coin market in the past eleven years, it is high time for a revision. The third edition will be the same as the first edition to include gold, silver and copper coins. In addition, the new edition covers the information of top coin museums, the most expensive coin in the world, etc. This bilingual third edition will have the same beneficial effect on the market that the second edition had. 比第一版60枚錢幣囊括金幣、銀幣和銅元，第二版專注 於60枚中國近代機製銀幣，定名為《中國近代機製銀幣 精品鑒賞·銀幣版》 (簡稱《銀幣鑒賞》)。 由於2010年距離現在時間上已經非常久遠，對近代 機製幣收藏研究成果披露有限，而且中國錢幣市場在過 去11年發生了很多變化，現在有必要對這本書再次進行 更新。第三版將與第二版一樣採用雙語形式，而內容則 將和第一版一樣包括近代機製幣及其樣幣的金銀銅三大 類別，此外還增加了世界頂級錢幣博物館、世界上最昂 貴的錢幣等內容。相信該書第三版的出版將對讀者有所 助益。

If interested, please contact Champion Auction 如果需要請聯繫冠軍拍賣公司 Tel: 021-6213 0771 Email: jeanzg@163.com

《中國近代機製幣精品鑒賞》第三版 正式啟動 2020 年 7 月 17 日（週五），冠軍拍賣組織來自上海、浙江、四川等地的 20 名藏家前往上海造幣有限公司參觀了上 海造幣博物館及其包克錢幣展示廳，午餐期間宣佈開始啟動第三版《中國近代機製幣精品鑒賞》編撰工作。《東亞泉志》 出版人周邁可及中文主編袁水清於 8 月 16 日至 20 日前往北京，開展第三版的問卷策劃和評委會構建工作。問卷調查 工作已於 9 月正式啟動，12 月評選出新一版的十大精選硬幣。第三版預計於 2021 年秋面世。

藏家參觀上海造幣博物館

參觀者親自鑄打參觀紀念章

藏家交流

冠軍拍賣總裁周邁可宣佈開始啟動

2009 中國近代機製幣競選活動 弘揚中國錢幣文化

推動市場健康發展

TOP 10 of the Greatest Chinese Struck Coins Survey 評選結果

前十名中國近代機製幣如下：

1903 年（癸卯）奉天省造光緒元寶庫平一兩銀質樣幣 1900 年（庚子）京局製造光緒元寶庫平七錢二分銀質樣幣 1898 年湖南省造光緒元寶庫平七錢二分銀質樣幣 1904 年廣東省造光緒元寶庫平重一兩銀質樣幣，背鑄字 1910 年 ( 庚戍春季）雲南造宣統元寶庫平七錢二分銀質樣幣 1896 年四川楷書（缶寶 ) 光緒元寶庫平七錢二分銀幣 1890 年廣東省造光緒元寶庫平七錢二分、七錢三分反版銀質樣幣 1911 年（宣統三年）大清銀幣壹元銀質樣幣，長須龍、短須龍、大尾龍、 反 龍、曲須龍

1906 年（丙午）和 1907 年（丁未）大清金幣庫平一兩樣幣 (1904-1905 年）四川省造光緒元寶當三十銅幣，試鑄幣

組織機構

主辦：愛秀集團

協辦：美國 MGC 冠軍拍資公司

2009 年 12 月 18 日 ，上海精選結果發佈會上 ，周邁可向林青禾頒獎 Michael Hans Chou awards certi�icate to George Lim at the Top Chinese Coins Survey Conference in Shanghai on December the 18th, 2009

廣州國標錢幣收藏鑒定評估有限公司 上海申泉工貿總公司組委會 主任委員：孫浩 資深錢幣收藏界專家學者

副主任委員 : 周邁可 愛秀集團董事長暨冠軍拍賣董事長

顧問委員會主任委員 : 戴志強 中國錢幣學會副理事長 顧問：

周 祥 上海博物館研究員中國文物鑒定委員會委員 沈鳴鏑 上海錢幣學會副秘書長

甄偉剛 廣東集幣協會理事

張明泉 中華錢幣協會理事長

周建福 臺北市錢幣協會理事長 郭俊勝

理事

瀋陽金融博物館及張氏帥府博物館館長，遼寧省錢幣學會常務

曾澤祿 美國著名中國錢幣收藏家

媒體宣傳

上海電視臺、新浪網、新民晚報、新聞晨報、錢幣報、新聞晚報、上海

2009 年 12 月 18 日 ，上海精選結果發佈會上 ，甄偉向陳吉茂頒獎 Zhen Weigang awards certi�icate to Chen Chi Mao at the Top Chinese Coin Survey Conference in Shanghai on December the 18th, 2009

熱線、東方網等媒體均對精選活動及結果進行了隆重報道，引起熱烈的 關注。

2009 年 12 月 18 日 ， 精選活動嘉賓參觀上海造幣博物館 Guests of the Top Chinese Coin Survey Conference visited the Shanghai Mint Museum on December the 18th, 2009

2009 年 12 月 18 日 ，精選結果發佈會在上海舉行 The Top Chinese Coin Survey Conference in Shanghai on December the 18th, 2009

Niue Island Eternal Love & Everlasting Rose Pure Silver Coin Reservation

◎ This is a rose that can be enjoyed for a lifetime, and each rose is a

Original Package：

RMB 2388 NGC PF 70：

RMB 2628 2oz

45mm

.999Ag

real rose.

◎ Naturally grown roses are cut in full bloom. This silver coin features

a real rose processed through a special preservation process and finished with 24k gold plating on the edge of each petal. ◎ The coin is designed by Mr. Yu Min, the winner of the Lifetime Achievement Award for the Coin of the Year Award and former senior designer of Shanghai Mint Co. The coin is manufactured by Shanghai New Century Commemorative Coin Manufacturing Co., Ltd, one of the world's most technologically advanced mints.

Purchase Link: https://m.tb.cn/h.feujECq?sm=ec41ca

Mintage: 600

Contact Us ： Tel ：021-62130771 E-mail ：jeanzg@163.com Address: Room 1808, Baohua

Everlasting Rose

Building, No.1211, Changde Road, Putuo District, Shanghai

NGC Holder with Yu Min Signature Label ◎ Obverse: It is based on one of the greatest Chinese love stories, Butterfly Lovers.

The rose coin features an everlasting rose with the two main characters in the story of Butterfly Lovers in high relief. They look away from each other with a Chinese plum tree separating them, and two butterflies flying together showing the final scene of the story.The plum flower, the plum tree, and the background use a finish silver effect. For the butterflies and the window, blasting and mirror effects are used while the face and clothes of the characters employ a blasting effect. ◎ Reverse：It shows Romeo and Juliet. The two stand on the balcony dressed in classical European dresses, the rose below is overall flat and convex, but a prism allows for different colors to be seen from different angles. Behind are the characteristic Venetian dome windows and faded bricks. The text inside the window is the classic line of Romeo and Juliet. The white brick seam lines on the walls are white blasting, and the walls are blasted with a gradual change of brighter top and whiter bottom. The balcony, windows and brick wall replicate the actual location where the story takes place.

紐埃群島 永恆之愛 & 永生玫瑰純銀紀念幣 紀/念/幣/預/定

◎ 這是一朵可以賞玩一生的玫瑰，每一朵玫瑰都是真實的玫瑰。 ◎ 自然生長的玫瑰花剪切於盛放之時。這枚銀幣將鮮活的玫瑰通過特殊手 工保存工藝進行處理，最後在每片花瓣的邊緣鍍以24k 金。

原包裝：¥2388 NGC 打盒：¥2628

◎ 紀念幣由克勞斯世界硬幣大獎賽終身成就獎得主，原上海造幣有限公司 高級工藝美術師余敏先生操刀設計，由世界技術最領先的造幣廠之一的上 海新世紀紀念幣製造有限公司製造。

一一錢幣網購買鏈接 ：

https://m.tb.cn/h.feujECq?sm=ec41ca 2 盎司

直徑 45 毫米 .999 銀 鑄造量600枚

永生玫瑰

◎ 正面 ：以中國古代著名愛情故事梁山伯與祝英臺為主題。幣上超高浮雕 的梁山伯與祝英臺人物肖像相互背離，被一顆桃樹分開。樹上兩只蝴蝶翩 翩飛舞，應和了梁祝故事的結局。桃花、桃樹和背景均採用了古銀效果， 蝴蝶與窗格呈現了噴砂和鏡面的效果，人物面部和衣服則採用了漸變鐳射 砂工藝。

余敏簽名

◎ 背面 ：著名的羅密歐與朱麗葉的故事。二人身著歐洲古典禮服站在陽臺 上，下方的玫瑰整體平凸但白色亮丸實現了灰色鐳射幻彩效果，隨著角度 的變換會呈現出紅、藍、綠、黃等各種不同的顏色。背後是威尼斯特色的 穹頂窗戶和褪色的磚塊。窗內的文字為《羅密歐與朱麗葉》的經典對白。 牆上的白色磚縫線為白砂，牆面則採用了上亮下白的漸變噴砂。陽臺、窗 戶和磚牆均複刻了故事所發生的實際地點。

NGC 打 盒 限量100枚

精/美/手/繪/圖

電話 ：021-62130771

郵箱 ：jeanzg@163.com

地址 ：上海市普陀區常德路1211號寶華大廈1808室

Eternal Love & The Everlasting Rose Pure Silver Coin THE COIN PRESENTED WITH A NATURAL GROWN ROSE, WITH THE TIP OF EACH PETAL COATED IN PURE 24K GOLD.

$ 200

NGC PF70 ULTRA CAMEO

$ 260

COIN SPECIFICATIONS Weight: 10 grams; Metal Content: .999 Silver Dimensions: 35mm; Quality: Proof Country of Issue: Tanzania Year of Issue: 2020 Denomination: 500 Shillings; Mintage: 6,000

Tel: 021-62130771

Email: jeanzg@163.com

Add: Room 1808, Bao Hua Building No. 1211, Changde Rd.

2022 年安徽鄧通春季拍賣會亮點

拍賣地址：安徽省合肥市蜀山區科學大道 69 號中國書法大廈（科學大道與望江西路交叉口） 官方網站：www.ahdtpm.com 會務諮詢：0551-67679880

古錢、紙幣系列

1. 戰國 南新 X 小型三孔布 十二朱 古泉園地評級，真品。雖錢體有修補，但瑕不掩瑜， 此泉仍為歷代泉家嚮往之大珍。 2. 太夏真興 小平 白銅幣 直徑 22mm，重 3.8g。此枚字體小巧，傳世熟美。 與此前發現的版別均有不同。目前發現共 7 枚（含 博物館館藏），近年國內無拍賣紀錄。未評級，返 品不可。

①

3. 清 鹹豐重寶 寶蘇當五十勾鹹大麯蘇試樣 , 聞德 78 包漿傳世溫潤，文字有力，狀態極佳。汪洋先生舊 藏， 《寶蘇泉匯》第 80 頁 255 圖原物。是不可多得 的鹹豐寶蘇局錢幣的珍品。

④

4. 元明 泰和重寶 背十七星 折五小型花錢（戴葆 庭舊藏），華夏 極美 80 直徑 30.9mm，重 6.3g。包漿傳世溫潤，書法古拙， 別有趣味。

②

金銀錠系列

5. 清 光緒二十九年吉月吉日 江南裕蘇官銀錢局 第一版“龍圓”壹元 票面完整，圖文清晰。上印雙龍戲珠圖，背印錢幣 古文，此鈔為清代紙鈔之頂級大珍，迄今為止，仍 為海內孤品。

⑤

③

1. 明 承天府徵觧萬曆四十二年分虞衡司金 二十 兩金錠，方乾 MS63 重 742g。文字刻工清晰粗放，鑄造紋路清晰，狀態 完美。

①

2. 清 山東 濟甯衞 同治年月 匠徐文灼 五十兩銀 錠，方乾 MS62+ 重 1866g。戳口周正，器形完整，狀態完美。 《金銀 貨幣與社會生活》書中原物，目前僅見一枚。 3. 中央造幣廠制孫中山像廠徽布圖五兩廠條， PCGS MS63 成色：991.0，重量：5.009 市兩，實際重量：156.6g。 PCGS 冠軍分， 官網宣傳圖， 圖案清晰完整， 色澤純正， 品相一流，少見。系這一時期的廠條主流

②

③

機製幣系列

①

②

③

④

⑤

⑥

⑦

⑧

⑨

⑩

⑪

⑫

⑬

⑭

1. 民國三年袁像 壹圓銀幣 甘肅加字版，PCGS XF45

2. 民國 袁世凱像中華帝國洪憲紀元飛龍拾圓紀 念金幣，PCGS MS62 PCGS 高評級數量僅 6 枚，圖案雕刻極盡精美， 人邊齒及內齒淩厲整飭，品相完好。此枚為袁世 凱登基而準備鑄發的金幣，俗稱“小飛龍金幣”。 3. 民國九年袁像 壹圓銀幣 精發三年背，PCGS MS67+ 精發三年背。細節完整，銀光溫潤，五彩明麗。 4. 民國 袁像共和紀念幣 壹圓銀幣，NGC MS67

掃一掃，關注我們吧

5. 民國 袁像共和紀念幣 壹圓銀幣 簽字版樣幣， PCGS SP61 細節完美，人物傳神，五彩厚重，狀態極佳。 6. 民國 袁像洪憲紀念飛龍紀念銀幣，PCGS MS63+

7. 民國 黎元洪帶帽像開國紀念幣 壹圓銀幣， PCGS MS62

8. 民民國十六年褚玉璞像背雙旗任省州周年紀 念銀章，PCGS UNC82

9. 民國十七年孫像 甘肅省造 壹圓銀幣，PCGS XF40

聯繫我們：安徽省合肥市包河區濱湖萬達文旅城未來塔 A 座 1303 室

10. 民國十八年孫像三帆 壹元銀幣 英國版樣幣， PCGS SP63+ 11. 清 無紀年光緒元寶江南省造 七分二厘銀幣 樣幣，PCGS SP65 12. 清 無紀年光緒元寶江南省造 一錢四分四厘 銀幣，PCGS MS66+ 13. 清 無紀年光緒元寶江南省造 七錢二分銀幣 日字省，PCGS/MS61

14. 清 戊戌光緒元寶江南省造 七錢二分銀幣 珍 珠龍，PCGS XF45

電話 : 0551-67679880

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高價收購買賣、專業送評鑑定 龍銀、袁大頭、船洋、銀錠、古錢、金銀幣 各國套幣、各國紙鈔、郵票、字畫、古董 老酒、人參、金銀飾、金銀條 A：100臺灣台北市中正區牯嶺街41-1號 T：+886-2-23515430；+886-956-191-919 F：+886-2-23512177 E：silverhouse88@gmail.com Line&WeChat：yinchiacoin

Mish International Monetary Inc. Mish国际钱币公司 Specialists in 专营

Pandas since 1982 1982年起发行的熊猫币 China Modern since 1979 1979年起发行的中国现代金银币 World Coins since 1964 1964年起专营世界钱币

Looking To Buy?想买？ Our inventory and knowledge has been available to both our colleagues and collector clients since coins of the People’s Republic of China first reached the world market in 1979. 自1979年中国现代金银币首次进入国际市场后，Mish 国际的员工及其藏家客户积累了丰富的库存和专业 的钱币知识。

If you are looking for a particular China coin, chances are we have it, or may be able to recover it from an original buyer we sold it to years ago at first distribution. 想买中国币？我们或许恰好有；也许多年前我们卖过，现在或许还能从原始买家手中买回来。

Looking To Sell?想卖？ In this world of instant experts and brokers, Mish International is still your best choice to handle the purchase of your prized coins in this fast-changing market. Well-capitalized, truly knowledgeable and accommodating, we buy both single pieces and major collections at fair value with no delay, no limits and no excuses. 瞬息万变的市场环境，Mish 国际仍是助您销售钱币的最佳选择。雄厚的资金实力，专业的钱币知识，出 色的协调能力，我们同时收购单枚币和大型收藏，价格合理，快速付款。

Since 1964 始于1964

Here today. Here tomorrow 携手今日 共赢明天 Mish International Monetary Inc Mish国际钱币公司 1154 University Drive Menlo Park, CA 94025, USA 美国加州门罗帕克大学路1154号，邮编94025 Phone(电话):(650) 324-9110 Email(邮箱):robert@mishinternational.com

Stack’s Bowers and Ponterio Presents an Exceptional Rarity from the

April 2022 Hong Kong Spring Auction April 11-14, 2022 • Hong Kong

CHINA. Dollar, Year 3 (1914). PCGS PROOF-65.

Contact Us for More Information! Email: InfoHK@StacksBowers.com • Tel: 852.2117.1191 • Website: www.StacksBowers.com

Unit 1603, 16/F, Mira Place Tower A, No. 132 Nathan Road Tsim Sha Tsui, Kowloon, Hong Kong SBP JEAN AprHK22 220201

齐心协力 共同振兴 中国金银币二级市场 易金在线APP成立于2013年10月，是中国最大的贵金属投资领域纪念金银币二级市场社区电商拍卖交易平台，积聚9年的服

务体系、以完善的技术创新和信任背书的发展势能。易金在线建立了在线竞拍、金币百科、易金大数据、认知传播、评级保养5 大品牌方向。构建行业上下游联动，建立行业信任体系，推动供需增长，50+创新专利，推动行业数字化变革，高效协同的完整 产业链条。

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◎熊猫金币特许经销商

北京站 联系我们：北京通州永顺朝北 8080, 10 号楼一单元 603 室 快手号：A13651234655（京钰）

快来加入我们吧！

2022 年 4 月

經NGC認證的中國機製幣創下216萬美 元的成交記錄 在2021年12月的海瑞得拍賣會上，一枚經NGC認證的中國機製銀樣幣以216萬美元的 成交價格令錢幣界歎為觀止，並創下了經NGC認證的中國硬幣的拍賣新高。與此同時， 另一枚經NGC認證的中國機製幣亦取得了120萬美元的成交佳績。這兩枚中國機製幣 成為2021年度第15枚和第16枚價值逾百萬美元的NGC評級幣。

經NGC認證的珍品錢幣在拍賣會上脫穎而出。 NGCcoin.hk/about

216萬美元

民國十七年（1928年）張作霖文裝像銀質樣幣 銀幣 NGC MS 62

120萬美元

宣統三年（1911年）大清「長鬚龍」銀質樣幣 銀幣 NGC PF 63

將您的硬幣 委託給NGC

NGC成立於1987年，是全球大型、 廣受信賴的第三方硬幣、代幣和獎 章評級機構，提供鑒定、評級並封 裝服務。NGC憑著其精準、一致並且 不偏不倚的評級服務，與行內領先的 保證，備受世界各地的收藏家和經銷 商的信賴。

了解更多，請瀏覽 NGCcoin.hk/about

經驗：

NGC評級師均是訓練有素，經驗豐富的專業人 員，並在錢幣學研究領域處於前沿。每一枚硬幣 均由多名專業評級師進行檢驗，以保證準確性與 一致性。

參考：

診斷：

我們的綜合研究圖書館 為NGC評級師提供最相 關的參考資料。他們同時 也向全世界的專家進行 咨詢。

評級師參考我們數據 庫中數百萬的真假幣 圖像，包括非常詳細 的診斷圖像。

科技：

X射線熒光光譜分析，結合特定的重力 與顯微鏡評估，幫助判定硬幣表面成分 與鑄造工藝。

專業硬幣評級的要素

每一次NGC評級背後都是一整套高度複雜，經過時間考驗的過 程。依憑于我們行業領先的專業技術，超過5300萬枚硬幣被委託 給NGC,其中甚至包括許多來自世界各地的頂級硬幣。

了解更多，敬請浏覽 NGCcoin.hk/expertise

紙幣交給PMG鑑定， 最放心

PMG成立於2005年，為紙幣提供獨立公正的專業真品鑑定、評級並封裝的服務。 PMG被世界各地的收藏家和經銷商所認可。因其專業、精準和一致的評級， 對公正的承諾以及全面的真品和等級保證而被全球信賴， 也因此成為全球最大的第三方紙幣評級服務機構。

了解更多？ 請瀏覽 PMGnotes.hk/about

PRESS RELEASE:

Artist Yu Min was given the Lifetime Achievement Award by Krause Publication Coin of the Year Award Committee

Editor of World Coin News David C. Harper (L.) and Chinese Embassy Culture Department Secretary Dr. Li Gang

Shanghai Mint Co., Ltd. senior designer Yu Min is watching CCTV News live

A Lifetime Achievement Award in Coin Design was given to Yu Min of the Shanghai Mint Co., Ltd., Feb. 4 at the Coin of the Year Award ceremony at the World Money Fair in Berlin, Germany.

He began designing and engraving coins in 1980 and participated in the entire development process of gold and silver Pandas as a designer and engraver since the first gold panda coin was issued in 1982.

The trophy was accepted by Dr. Li Gang, Secretary of the Culture Department of Embassy of People’s Republic of China to the Federal Republic of Germany. Yu Min is the first Asian Designer to win the award, the previous three edition of the award went to Herbert Wähner of Austria, Maria Carmela Colaneri of Italy, and Heinz Hoyer and Sneschana Russewa-Hoyer of Germany. Giving the award was David C. Harper, editor of World Coin News, founding sponsor of the award. The award is also sponsored by the World Money Fair. The publisher of The Journal of East Asian Numismatics, Michael Chou, introduced Dr. Li. His publication is the third sponsor of the Coin of the Year Awards and it prepared a biography of Yu Min. Yu Min graduated from Shanghai Arts and Crafts School in August 1980 and entered the Shanghai Mint (now known as the Shanghai Mint Co., Ltd.) to design and to engrave coins in the design and pattern shop at the same year. From February to June 1996 he went to Russia and studied in the Sculpture Department of Repin Academy of Fine Arts. He was enrolled as a member of the China Sculpture Institute in July 2004.

Rick Stelzer Estate Coin & Jewelry Galleria 1650 main street sarasota FL 34236 USA Tel: (+1) 605 321 1449 rick52447@gmail.com

His 1983 silver Panda won the Best Silver Coin award in the 1985 Coin of the Year competition. He has designed and engraved over 200 Modern Chinese coins including over 40 commemorative Panda coins, including the 2005, 2006, 2008, 2009, 2010, 2012 and 2013 gold and silver commemorative Panda coins, over the years. Mr. Yu Min may hold the world record for the number of coins designed/engraved by a artist for a modern mint. The 2009 Panda coin designed by Yu Min was named the Best Commemorative Coin by a German magazine. Among commemorative coins, he designed and engraved the portrait of Chairman Mao on the circulating coin to mark the 100th birthday of Mao Tse-tung. It was very difficult to engrave a raised image of the chairman to be struck on a very hard nickelclad steel coin. Yu Min accomplished this after repeated trials. In the selection process of the 2008 Beijing Olympic coins, Yu Min’s design was one of the finalists and his four joint engraving designs (the fencing, pentathlon, archery and soccer coins) were adopted by the head office of Bank of China.

Champion Shanghai Room 1808, Bao Hua Building, No.1211, Changde Rd, Shanghai 200060, People's Republic of China Tel: 86-21-62130771 championghka@gmail.com

余敏榮獲克勞斯出版社世界硬幣大獎評委會頒發的 終身成就獎

《世界錢幣新聞》主編 David C. Harper（左）和中國駐德國大使館文化部秘書李剛

本屆世界硬幣大獎賽頒獎典禮於2017年2月4日在德國柏林的世

上海造幣有限公司高級工藝美術師余敏在觀看 CCTV 新聞頻道

界錢幣展上舉行。本屆的世界硬幣大獎賽錢幣設計終身成就獎

1993年獲工藝美術師任職資格，並被聘為工藝美術師。2004 年7月，被中國雕塑學會吸收為會員。

中華人民共和國駐德意志聯邦共和國大使館文化部秘書—李剛

工藝美術師至今也已23年。從1982年發行第一枚熊貓金幣起，

的獲得者是上海造幣有限公司的設計雕刻師⸺ 余敏。

余敏從1980年從事錢幣設計雕刻至今已30年，從1993年聘為

代表獲獎者領獎並發表獲獎感言。

至今已有近三十年歷史。余敏作為設計雕刻人員參與並見證了

就 獎 的 獲 得 者 分 別 是 ：奧 地 利 的 赫 爾 伯 特 • 韋 納、 意 大 利

由余敏設計雕刻的1983版熊貓銀幣獲得了1985年世界硬幣大

余敏是首位獲得這項大獎的亞洲錢幣設計師，前三屆終身成

的 瑪 利 亞 • 卡 梅 拉 • 柯 蘭 納 瑞 以 及 德 國 的 Heinz Hoyer 和

Sneschana Russewa-Hoyer 夫婦二人。

獎項由《世界硬幣新聞》主編及世界硬幣大獎賽的發起人之一 的大衛 • C• 哈珀負責頒發，而世界錢幣展也是本屆獎項的贊助

商之一。

《東亞泉志》出版人周邁可先生為李博士做了一下介紹。周先生

的《東亞泉志》不僅贊助本次的世界硬幣大獎賽，同時也準備了 一篇余敏的生平簡介。

余敏1980年8月畢業於上海工藝美術學校（中專）。同年進上海

造幣廠（上海造幣有限公司前身）設計製模車間從事錢幣設計雕 刻工作。

1996年2月至6月期間，赴 俄羅斯列賓美 術學院雕塑系進修。

冠軍拍賣有限公司 地址 ：上海市常德路 1211 號寶華大廈 1808 室 電話 ：86-21-62130771 传真 ：86-21-62130773 Email ：championghka@gmail.com

熊貓金銀幣發展的整個過程。

獎賽最佳銀幣獎，這些年，余敏一共設計和雕刻了40多枚紀

念 熊 貓， 包 括2005、2006、2008、2009、2010、2012和

2013熊貓金銀幣。余敏為現代造幣廠設計和雕刻的錢幣數量之

多，很可能在當今世界範圍內也無出其右。

他所設計的2009版熊貓幣被德國錢幣雜誌評為最佳紀念幣。

紀念幣方面，余敏設計並雕刻了毛澤東誕辰100周年流通紀念

幣中的毛澤東頭像一面。在非常堅硬的鎳包鋼產品上製作浮雕

是一個近乎苛刻的任務，經過多次實驗之後，余敏最終圓滿完 成任務。

在2008北京奧運幣的競標中，余敏的設計成為了入圍了最終的

決賽圈。余敏與他人合作的設計（擊劍、五項全能、射箭、足球） 也在競標被中國銀行選中。

Rick Stelzer Estate Coin & Jewelry Galleria 1650 main street sarasota FL 34236 USA Tel: (+1) 605 321 1449 rick52447@gmail.com

亚 洲 藏 品 拍 卖 Collectibles Auction Asia 101 UPPER CROSS STREET #03‐78A PEOPLE’S PARK CENTRE SINGAPORE 058357

WWW.CAA.AUCTION

Accepting consignments throughout the year

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2020 年 11 月 19 日 冠軍澳門拍賣會 掃一掃，關注我們

地點：澳門十六浦索菲特酒店六樓會議室

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電話：021-62130771

拍賣成交亮點

1898 年湖南省造光緒元寶庫平三錢六分樣幣 PCGS SP66+，華人家族收藏 起拍價：USD 230000 成交價：USD 540000

1911 年大清長須龍壹元銀幣 NGC MS64，包克收藏 起拍價：USD 30000 成交價：USD 312000

1911 年宣統三年大清銀幣伍角 NGC MS62，包克收藏 起拍價：USD 10000 成交價：USD 132000

1910 年宣統年造大清壹元銀幣 NGC MS64，包克收藏 起拍價：USD 10000 成交價：USD 105600

1852 年臺灣老公銀壹圓 NGC AU55，包克收藏 起拍價：USD 10000 成交價：USD 91200

1896 年 黑 龍 江省 造 光 緒 元 寶 庫 平三 錢 六 分 NGC AU55，奧托·拜赫德製中國樣幣 起拍價：USD 20000 成交價：USD 67500

1907 年東三省造光緒元寶庫平七錢二分銀幣 NGC AU58，NC 藏品 起拍價：USD 38000 成交價：USD 67200

庚子京局製造一錢四分原鑄幣 NGC MS60，包克收藏 起拍價：USD 10000 成交價：USD 62400

1904 年光緒三十年湖北省造大清銀幣庫平一兩 小字版，NGC AU53，包克藏品 起拍價：USD 5000 成交價：USD 62400

1907 年（丁未）大清伍角銀幣 NGC MS65，包克收藏 起拍價：USD 5000 成交價：USD 57200

1853 年臺灣如意軍餉 NGC AU Details，NC 藏品 起拍價：USD 20000 成交價：USD 40800

1920 年中華民國九年鄂造貳角每五枚當一圓銀 幣，NGC MS61，包克收藏 起拍價：USD 3000 成交價：USD 36000

聯繫我們：上海市常德路 1211 號寶華大廈 1808 室

電話 : 86-21-62130771

郵箱 : championghka@gmail.com

2020.8.23

冠軍上海 VIP 微拍Ⅱ 拍賣成交亮點 /Highlights

1903 年戶部光緒元寶庫平 5 錢銀幣，L&M2， K928，華人家族藏品 起拍價：200000（人民幣） 成交價：1243000（人民幣）

1909-1911 年湖北省造光緒元寶庫平七錢二分 銀幣，L&M187，NGC MS65，H.F.Bowker 藏品 起拍價：60000（人民幣） 成交價：319500（人民幣）

1922 年（民國十一年）湖北武昌造幣廠長郭銅 質紀念牌，NGC AU58 BN，NC 藏品 起拍價：100000（人民幣） 成交價：291500（人民幣）

天津黎元洪像中華民國五族共和紀念銅章， NGC AU55 BN，NC 藏品 起拍價：100000（人民幣） 成交價：275000（人民幣）

1908 年造幣總廠光緒元寶庫平七分二厘銀幣， L&M13，NGC MS64，H.F.Bowker 藏品 起拍價：60000（人民幣） 成交價：176000（人民幣）

1895-1905 年湖北省造光緒元寶庫平三錢六分 銀幣，L&M183，NGC MS62，H.F.Bowker 藏 品 起拍價：30000（人民幣） 成交價：148500（人民幣）

1932 民國二十一年孫中山像壹元，三鳥 LM108 PCGS MS 63 金盾品相完整，狀態佳。 起拍價：30000（人民幣） 成交價：132000（人民幣）

清·太平天國背聖寶·當百 宋體 尺寸：直徑 56mm 42.21g 起拍價：30000（人民幣） 成交價：103400（人民幣）

1894 年德屬新幾內亞 5 馬克銀幣，KM7， PCGS PR62，華人家族藏品 起拍價：30000（人民幣） 成交價：83600（人民幣）

1914 年福建福建袁世凱福州海運局鎳幣，反面 福州海運局雙打，NGC AU55，華人家族藏品 起拍價：30000（人民幣） 成交價：61600（人民幣）

臺灣老公銀足紋銀餅庫平柒弍，臆造幣， KANN-F1，NGC MS63，Ex.Kann/H.F.Bowker 藏品 起拍價：30000（人民幣） 成交價：52800（人民幣）

1904-1905 年江蘇省造光緒元寶當十，方龍， NGC AU58 BN，H.F.Bowker 藏品 起拍價：30000（人民幣） 成交價：13750（人民幣）

聯繫我們：上海市常德路 1211 號寶華大廈 1808 室

電話 : 86-21-62130771

郵箱 : jeanzg@163.com

2021.6.27 冠軍上海 VIP 精品微拍 微拍成交亮點 /Highlights

1916 年中華帝國袁世凱像洪憲紀元飛龍銀幣 沖天冠版，NGC MS63, 曾亮相於 1996 年冠軍 拍賣及 2010 年 Ultima 收藏專場拍賣 起拍價：300 000 元 成交價：1 859 000 元

1927 年十六年造中華民國國民政府孫中山像 陵墓紀念銀幣 NNC MS64，Richard Wright 收藏 起拍價：300 000 元 成交價：1 386 000 元

1898 年（光緒二十四年）安徽省造光緒元寶 庫平七錢二分銀幣，扁四，小星花版 NGC MS64，席德柄 / 張南琛收藏 起拍價：300 000 元 成交價：1 331 000 元

1923 年中華民國十二年造龍鳳壹圓銀幣 NGC MS65，Su Z. 收藏 起拍價：300 000 元 成交價：1 111 000 元

1903 年光緒元寶戶部庫平一兩金幣 NGC PF65 起拍價：300 000 元 成交價：891 000 元

1906 年（丙午）戶部“中”字 大清銀幣貳錢，NGC MS66，張南琛收藏 起拍價：100 000 元 成交價：594 000 元

1889 年廣東省造光緒元寶庫平三錢六分五厘 銀幣，NGC AU55，包克收藏 起拍價：300 000 元 成交價：550 000 元

1906 年光緒年造大清銀幣戶部貳錢銀幣 PCGS MS65，W.L./ 黃華樞收藏 起拍價：100 000 元 成交價：363 000 元

1912 年中華民國黎元洪像開國紀念幣壹圓銀幣 NGC MS64，張南琛收藏 起拍價：100 000 元 成交價：330 000 元

1912 年中華民國袁世凱像共和紀念十文銅幣 小面版，NGC AU55，張南琛收藏 起拍價：30 000 元 成交價：239 800 元

1895-1905 年湖北省造光緒元寶庫平三錢六分 銀幣，NGC MS64，華人家族藏品。原味包漿， 鑄打深峻 起拍價：30 000 元 成交價：231 000 元

1919 年雲南省造唐繼堯像擁護共和紀念拾圓金 幣，反面帶數字“1”，NGC MS62，1991 年美國 錢幣學會複製品 起拍價：30 000 元 成交價：231 000 元

1898 年吉林省造光緒元寶庫平七錢二分銀幣 NGC XF40，張南琛收藏 起拍價：30 000 元 成交價：187 000 元

1911 年（宣統三年）大清銀幣壹圓 NGC MS64 起拍價：30 000 元 成交價：165 000 元

1924 年（民 國 十三年）中 華 銅 幣 背 嘉 禾 十文 NGC XF45 BN，NC 藏品 起拍價：10 000 元 成交價：154 000 元

聯繫我們：上海市常德路 1211 號寶華大廈 1808 室

電話 : 86-21-62130771

郵箱 : jeanzg@163.com

Chopmarked Coins - A History 《戳記幣簡史》 Colin Gullberg 高林

Price ( 售價 ): US $100 Plus Postage ( 不含郵費 ) The book Chopmarked Coins- A History by Colin Gullberg is funded by iAsure Group. The softcover book is 187 pages in length, 210mm×285mm, fourcolor printing. It covers the history of foreign silver coins that circulated in China from 1600 to 1935 and contains images of some 150 coins. Gullberg includes firstperson accounts, summaries of all modern sources of knowledge on the subject and scans from a shroff’s handbook (circa 1890). It is the first English- language book on the subject since 1990 and only the second English language book on the subject.

愛秀集團贊助出版發行的 戳記幣英文專著《戳記幣簡 史》為軟裝本，正文內容187 頁，開本210mm×285mm， 四色印刷，闡述了1600年至 1935年間中國流通的外國戳記 銀幣概況，作者高林先生採用 第一人稱敘述，總結了現代有 關戳記幣的詳盡知識，並配有 某錢莊的手冊（約1890年）掃 描插圖和150多張戳記幣高清 圖片。本書是1990年之後的第 一本戳記幣英文專著，也是有 史以來的第二本戳記幣英文專 著。

Chinese And Foreign Papermoney Errors 《華洋怪鈔—中外錯體紙幣賞析圖鉴》 David Chio 趙康池 Aguang Chan 陳耀光

Price ( 售價 )：MOP $300; RMB 240; US $30 Plus Postage ( 不含郵費 ) In December 2015, this book was released by Macau Numismatic Society and edited by David Chio and Aguang Chan. A total of 1,000 copies was printed, 200 in hard cover and 800 soft cover. The book is 323 pages of full color A4 size 210×285 mm and features over 300 error notes and 800 photos. Notes from Chin dynasty to modern times and more than 10 countries and region is covered. The books also cover causes of errors, background information on the printing process and authenticity of errors. This is the first book in Chinese to feature this type of information on error notes and its collection.

该书由澳門錢幣學會於2015年 12月出版，趙康池、陳耀光編著。 印行1000冊，其中精裝本200冊， 平裝本800冊。是書全彩精印，小 A4开本，210mm×285mm，323 頁，選錄了中外錯體紙幣300多 種，圖片800多張，涵蓋中國自清 末到現今使用的紙幣，涉及中外十 多個國家和地區。本書對中外錯 體、錯版、變體等紙幣的成因、歷 史背景和辨偽，實事求是地作了係 統的、科學的分析與歸納，並介紹 了印鈔基本步驟和印鈔過程中所產 生的“另類”紙幣，補充了不少紙 幣收藏的基礎知識。可以說，本書 是首本對錯體紙幣進行全方位論述 的著作。

If required, please contact Champion Auction 如果需要請聯繫冠軍拍賣公司 Tel: 021-6213 0771 Email: jeanzg@163.com

創

新

創

造

價

值

B.H. Mayer´s Kunstprägeanstalt GmbH

Minted in Germany 德国铸造

1盎司 999纯银 硬币

Nano technology applied to the surface of this unique coin 这枚独一无二的硬币表面，采用了纳米技术 Exclusive limited mintage 1000 独家限量发行 1000枚 2019 Tanzania 1000 Shillings 2019年 坦桑尼亚 1000 先令

2019 Tanzania 1000 Shillings

Coin Designed by: Yu Min

CBPMC Senior designer Winner of 2017 COTY “Lifetime” Achievement Award in Design

设计师： 余敏

中国印钞造币总公司高级工艺美术师 曾获得“2017年克劳斯世界硬币大奖赛年度终身成就奖”

Magnico

Room 1808, Baohua Mansion, No. 1211, Changde Rd., Putuo District, Shanghai Tel:0086(21)-62130772 www.magnico.cn

上海冠坤文化发展有限公司

上海市普陀区常德路宝华大厦1211号1808室 电话：0086(21)-62130772 网址：www.magnico.cn

德国铸造 德国梅耶造币厂

《東亞泉志》

免費 訂閱 2022

簡介

電子季刊 中英雙語 出版人 周邁可

《東亞泉志》為冠軍拍賣公司總裁周邁可先生和著名錢幣學專家史

物館史密森尼學會、大英博物館、哈佛燕京圖書館、哈佛大學、耶魯大

大錢幣收藏家、研究學者更深入地瞭解錢幣知識，讓世界各地的讀者

幣協會。雜誌刊發過不少有重要學術價值的文章，如托馬斯 · 烏爾曼寫

博祿先生於1994年創辦，是一本學術性錢幣研究專業雜誌。旨在讓廣 更好地瞭解中國深厚的錢幣文化。

雜誌高級編輯史博祿先生1951年生於美國密蘇裏州聖路易斯市，

為密蘇裏大學歷史系學士，哈佛大學中國研究專業碩士。1974-1977 年在克勞斯出版社任《世界錢幣新聞》助理編輯，參與《世界硬幣標準

學、哥倫比亞大學、斯坦福大學、康奈爾大學和美國錢幣學會、美國錢

的《1886-1888年間朝鮮首鑄機製幣――德國專家相助創建現代造幣

廠》 、史博祿寫的《袁世凱像大鬍子開國紀念幣》 、範治南與何緯渝寫的

《欽差大臣驚世之旅，記李鴻章訪美破冰之行》 、湯姆 · 基納寫的《1897 年浙江三分六厘樣幣和1899年安徽三分六厘流通幣的關係》以及曾澤

目錄》與《世界紙鈔標準目錄》編輯工作。1977-1987年全職進行錢幣

祿寫的《明代天啟通寶和崇禎通寶銅錢加蓋戳印 VOC/C 探析》等。

1993年在哈佛大學攻讀碩士。1994-1998年任《東亞泉志》總編。史

請著名錢幣研究學者袁水清先生擔任主編。復刊後的《東亞泉志》為電

泉志》上發表的研究文獻極大地豐富了中國錢幣的知識內涵。

人士的事蹟為主。主要欄目有學術研究、人物專訪、鑒賞爭鳴、拍賣回

交易。1988-1989年在中國鄭州大學留學，主修中國研究課程。1991-

博祿先生擁有30多年的收藏和研究中國錢幣的豐富經驗。他在《東亞

《東亞泉志》於1994年7月份問世，1999年停刊，發行了18期。

雜誌中大部分文章是英文，只有少部分是中文，在20多個國家發行，廣 受歡迎，長期佔據許多重要圖書館書架的顯著位置，包括美國國家博

閱讀

東亞泉志 中英雙語 - 電子季刊

子季刊，中英雙語。內容以披露最新錢幣收藏研究成果、推介泉界成功 顧、重要信息等。

從2017年起， 《東亞泉志》加盟由克勞斯在德國柏林世界錢幣展覽

會期間舉辦的“世界硬幣大獎”頒獎活動。

25 周年紀念章

No.24

2021.10 / Issue 42

THE JOURNAL OF EAST ASIAN NUMISMATICS Bilingual (English - Chinese) Digital Quarterly

2015年5月，周邁可先生決定於2016年1月復刊《東亞泉志》，聘

Chinese Show Panda CATALOGUE

1984—2019

25 th

周年

JEAN 1994-2019

徐世昌 Hsu Shih-Chang

小洛克菲勒 John Rockefeller Jr.

1921 年徐世昌像背“仁壽同登”紀念銀章 陰刻“DR. C. PACKARD” 1921 Hsu Shih-Chang Pavillion Silver Medal, Engraved "DR. C. PACKARD"

1921 年徐世昌仁像背“仁壽同登”紀念金章無字版 1921 Hsu Shih-Chang Pavillion Gold Medal, without "Commemorative"

『本期專題 | FEATURES 』

徐世昌像背“仁壽同登”紀念章的“前世今生” Hsu Shih-Chang Pavillion Medal: Past and Present

香港上海匯豐銀行紙幣分類研究（1865-1898）

Sycee of Northern Song Dynasty Jintang County 50 Taels

古希臘帕加馬錢幣

Pergamene Coinage under the Greeks

2021 年澳門錢幣學會年會熊貓紀念章 &2021 年 《中國近代機製幣精品鑒賞》第三版首發紀念章 2021 Macau Numismatic Annual Expo Show Panda & 2021 Top Chinese Coins Ⅲ Release Medal

東亞泉志出版 JEAN Publications

24

期

僅供内部使用

JEAN Online Links 《東亞泉志》線上閱讀

廣告刊登

第 01 期 issuu.com/jean388/docs/the_first_issue_of_jean 第 25 期 issuu.com/jeandigitala1/docs/the_twenty-fifth_issue_of_jean

2022年《東亞泉志》廣告現在接受預定！ 2022-2023 年 第 27 期

第 28 期 第 29 期

第 30 期

發行時間

7 月 31 日

10 月 31 日 1 月 31 日

4 月 30 日

《東亞泉志》上海辦公室

紀

第

念

北宋“懷安軍金堂縣免夫錢折納銀每鋌重伍拾兩”銀鋌

章 目 錄

Classifying the Notes of the Hongkong and Shanghai Bank Corporation, 1865-1898

廣告截止時間

7月1日

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