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The China Chihli Dragon Dollar 1907, cataloged as L&M-464, is a significant and highly collectible coin from China’s late Qing Dynasty period. This silver dollar, often referred to as a "Dragon Dollar," is part of a broader series of dragon-themed coins minted during the final years of imperial China. The Chihli province, now known as Hebei, was a key region during this era, and its provincial mint produced a variety of silver coinage that circulated widely within China and beyond. The 1907 Chihli Dragon Dollar, in particular, is highly sought after due to its intricate design, historical significance, and the fact that it represents one of the last dragon dollars issued before the fall of the Qing Dynasty. In this case, the coin is graded as XF (Extremely Fine) with details by NGC, meaning it retains much of its original design but has some surface issues that prevent it from receiving a higher grade.
The Dragon Dollar series is one of the most iconic in Chinese numismatics, representing a period when China was attempting to modernize its currency system in line with international standards. Prior to this, China’s coinage had largely consisted of cast copper cash coins, which were gradually being replaced by machine-struck silver dollars. These silver dragon dollars were modeled after Western silver trade dollars, which circulated throughout East Asia at the time, particularly in trade with the British, Japanese, and American merchants. The Chihli Dragon Dollar played a central role in this transition, serving as both legal tender within China and as an internationally recognized trade coin.
The obverse of the 1907 Chihli Dragon Dollar features the distinctive design of a Chinese dragon, a symbol of imperial power and authority. The dragon is depicted coiled, with its head raised, facing forward, and its claws outstretched. Surrounding the dragon are clouds, symbolizing the heavens, as the dragon in Chinese culture is often considered a divine creature associated with the emperor. The details of the dragon’s scales, whiskers, and facial features are intricately engraved, showcasing the skill and artistry of the mint. The inscription "光绪元宝" (Guangxu Yuanbao) is prominently displayed, referencing the reign of Emperor Guangxu, who ruled during this time. In XF condition, the coin shows some wear on the high points of the dragon’s body and clouds, but the central details remain crisp and well-defined, making it a desirable example for collectors.
The reverse of the 1907 Chihli Dragon Dollar features inscriptions in both English and Chinese, a reflection of China’s engagement with global trade during this period. The central Chinese inscription reads "中华帝国" (Zhōnghuá Dìguó), meaning "Empire of China." Surrounding this are the words "7 MACE AND 2 CANDAREENS," which denote the coin’s weight in the traditional Chinese system of silver measurement. This weight corresponds to approximately 26.86 grams of silver, aligning the Chihli Dragon Dollar with international silver trade coins such as the Mexican peso and the U.S. trade dollar. The reverse also features a wreath encircling the inscriptions, a design element borrowed from Western coinage. In XF details grade, the reverse shows moderate wear, particularly on the lettering and wreath, but the overall design remains legible and visually appealing.
The minting of the 1907 Chihli Dragon Dollar took place at the Tientsin Mint (modern-day Tianjin), which was one of the primary mints in China at the time. The Tientsin Mint was established in the late 19th century as part of China’s efforts to modernize its economy and coinage system, introducing machine-struck coins in place of the traditional hand-cast method. The Chihli province, being a politically and economically important region, played a major role in producing silver dollars that circulated not only locally but also throughout China. The 1907 Dragon Dollar was among the last coins minted under the Guangxu Emperor, who died in 1908, marking the end of an era for imperial coinage as the Qing Dynasty neared its collapse in 1912.
The mintage of the 1907 Chihli Dragon Dollar is not precisely known, but the coin is considered scarce, particularly in higher grades. Many of these coins were heavily circulated or melted down during periods of economic instability, which adds to their rarity today. Coins graded XF with details like this one have seen moderate circulation but still retain much of their original design and luster, making them highly collectible. The "details" designation from NGC typically indicates that the coin has surface issues, such as cleaning or other minor damage, which prevents it from receiving a straight grade. However, despite these issues, the coin remains an important piece of Chinese monetary history and a key item for collectors of Chinese dragon dollars.
The 1907 Chihli Dragon Dollar L&M-464 is a significant coin for those interested in the numismatic history of China. Its combination of intricate design, historical context, and international trade connections make it a standout piece among early 20th-century silver coinage. Collectors value it not only for its aesthetic appeal but also for its representation of a time when China was undergoing dramatic social, political, and economic changes. In XF details condition, this coin offers a balance of affordability and preservation, making it an excellent addition to a collection focused on Chinese or world coins.