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PillarDollarCollector

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Boosibri

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PillarDollarCollector

@Boosibri said:
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So none less than others. Are some rarer with no chopmarks?

Boosibri

Do some research?

PillarDollarCollector

@Boosibri said:
Do some research?

I did purchased a book on the subject was just curious if the book matched what people see here with years and years of knowledge. The book I own is the one called Chopmarked coins – A history: The silver coins used in China 1600-1935 by Colin James Gullberg (2014).

I reached out to him and was able to purchase his last copy he had in English. Arrived a few weeks ago.

ChopmarkedTrades

Gullberg's book is a great one for the subject if you can locate a copy, it's got great images.

Virtually all all Mexican mints striking Cap & Rays sent large proportions of their mintages to China; the availability is essentially proportional to the total mintage, with one caveat - a major uptick in exportation in the 1850s. For years, I assumed that the rapid proliferation of chopmarked Cap & Rays 8 Reales starting in the mid-1850s (which can be noted in the number of surviving examples) was just an informal acceptance of the type's quality after decades of suspicion. A while back, though, I came across a translation of a book that had much more explicit justification for the shift (Chang Huei Hsin, "Essays of the History of Chinese Currencies", published by Tai Young Publication Co., 07.1994. ISBN 957-8590-22-9):

"After having circulated in China for 30 years, in 1856 (the 6th year of Hsien Feng) Mexican Eagle Dollars were finally acknowledged as the successor of Portrait Dollars by 36 leading merchants representing the import businesses of Shanghai in their meeting dated the 1st day, 1st month of Hsien Feng 6th year. According to a resolution passed in that meeting, the Eagle Dollars were to replace Portrait as the new monetary unit for bookkeeping in the Chinese commercial society commencing on the 6th day, 2nd month of the same year. From that date, any payment used in any agreement, check or loan had to be made in Mexican Eagle Dollars. This resolution was quickly ratified by the Chinese authority.

The British government was eager to see an end to the monetary chaos since it had been a major obstacle to the expansion of British commercial interests in China. The Ministry of Foreign Affairs issued "Communique No.501" to the Chinese Imperial government, urging that the monetary unit of the Chinese custom tax levied on British subjects, according to the Tienjing Treaty agreed between the two countries in 1858 (the 8th year of Hsien Feng), should be changed from Spanish colonial Portrait Dollars to Mexican Eagle Dollars. This caused the era of Eagle Dollars to begin, and to make it impossible for any other coin to compete with them in the Chinese currency markets."

As a result of this shift, there is a distinction in rarity among chopmarked pieces produced before and after ~1855. The sole date of Cap & Rays 8R issued by Real de Catorce (1863-CE), is considered a relatively rare piece on its own, but several chopmarked examples exist; usually multiple come up at auction per year. By comparison, the much earlier issues of the Estado de Mexico mint (1828-30) are virtually impossible to find with chops. I've never seen or heard of an example, and if none exists that a chopmarked mint set of Cap & Rays 8 Reales is impossible. Would be interesting if one turned up, though!

PillarDollarCollector

Thanks for taking the time to explain all this I appreciate it. Yes I was lucky to get the last copy he had in English and I am glad I did.