|CHINA-HUPEH 1904 One Tael Silver, large character, Y128.1, L&M181, K933b, NGC AU58, NC Collection
In 1904, the Hupeh mint began production of One Tael silver coins. The silver Tael bore four Chinese characters on the obverse that translated to "Ta Qing Silver Dollar,: marking the first appearance of this inscription. The dies were engraved with the date of production, the origin of its place, and the denomination. A pair of dragons appear on the reverse, as well as English legends and the Chinese denomination. Based on the size of "Ta Qing Silver Dollar," 1904 Hupeh One Tael silver dollars may be sorted into "big character" and "small character" varieties. The Osaka mint in Japan produce the dies for the 1904 Hupeh One Tael.
The Hupeh One Tael silver dollar is extremely popular among Chinese collectors, because it was China's earliest silver coinage engraved with "Ta Qing Silver Dollar." Though usually seen on Qing dynasty banknotes, the two dragons design on the reverse of this dollar is rarely seen on Chinese silver coins, adding to their popularity. The only other appearance of the dual dragon design is on the 1884 Kirin One Tael, a much rarer coin than the 1904 Hupeh One Tael.The Hupeh large character coins are difficult to find in UNC condition and none is graded higher than MS-63.
A NGC AU58 sold in Champion Dec-11 auction for US $56,640; A PCGS MS64 sold in HK Auction Apr-12 auction for US $143,400. an UNC sold for US $165,200