|CHINA-REPUBLIC ND(1927-28) 500 Cash Copper, Honan Mint, plain edge 44mm, Hsu 445a, CCC559, NGC XF45BN. NC Collection
Large quantities of copper coins were produced after the foudation of the Republic of China. Gradually, more and more coins in large denominations appeared with the devaluation of the copper coin. Some 50-cash, 100-cash and 200-cash copper coins started to be made all over China, like the 1931 Honan Province 100-cash copper coin, the weight (about 20 grams) of which is only three times heavier than that of the standard 10-cash copper coin while its value is ten times higher than that of the latter. About the same time, the Honan government started to produce the "500-cash" copper coin, about 45 mm in diameter, 33.7 grams in weight, which is the biggest Chinese copper coin with the largest denomination in history. This 500-cash copper coin was exquisitely designed and well made but had no use value. The obverse features crossed flags while the reverse depicts the image of grain. No such 500-cash copper pattern of the Republic of China was issued and only very rare tin-plated 500-cash copper coins still exist now.
The Honan Province produced machine-made coins from 1908 to the period of the Republic of China. The procuction equipments were supplied by American and Japanese machine factories. The Ferracute machine factory, which had supplied equipments for Hubei and Sichuan Province, founded a branch factory in China in 1905 and sent an engineer, A. Lambert to guide their work.
The Champion Auction once sold a Honan 500-cash copper pattern (once collected by Woodward) to a Taiwan collector (Mr Chen) in a private deal at a coin exposition in Hong Kong in September 2007. This Honan pattern was generally accepted as the finest 500-cash copper coin ever.
A PCGS SP55 sold in Beijing 2015 Spring sale for RMB 368000 (US $52570)