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Hong Kong Edward VII

1902 Proof Twenty Cent reverse 1902 Proof Twenty Cent obverse

1902 Proof Twenty Cent

Mint:Royal London Monarch:Edward VII Reverse Designer:William Wyon Obverse Designer:Leonard Wyon Size:23mm Weight:5.43g Edge:Milled Composition:80% Silver
20% Copper

Values

Sales History

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The Hong Kong twenty cent was first struck at the new Hong Kong mint in 1866. The mint only produced the coin for two years before closing with great losses, after this it was struck at the Royal Mint in London and the Heaton Mint in Birmingham. The obverse features the Leonard Wyon effigy of King Edward VII along with the legend EDWARD VII KING & EMPEROR. The reverse has the legend HONG KONG TWENTY CENTS with an inner circle containing Chinese characters depicting the date, denomination and country of origin.

The official currency of Hong Kong was the British Pound although it was not well received by the population as the traders were used to the Chinese system of using the weight of silver for their transactions. It was the policy of the British Government to introduce sterling silver coinage to their colonies since 1825 and the Spanish and Mexican eight Reales became legal tender and set at a value of four shillings two pence. The Government eventually concluded that their efforts to introduce the sterling coinage was unsuccessful in overcoming the strong local support of the Spanish silver dollar. The British Government made the decision, as it had also done in Canada, that it could not displace the local currency and the Royal Mint in London commenced the issue of special subsidiary coinage to run alongside the local dollar currency.

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