1949 China-Yunnan 20 Cents Silver (Year 38) — LM-432 / K-774 -XF 40
Historical Significance
Issued during the 38th and final year of the Republic of China (1949) before the fall of the Nationalist Government, this 20 Cents piece represents one of the very last silver coins minted under Republic of China rule on the mainland.
As the Chinese Civil War reached its climax, hyperinflation rendered paper currency virtually worthless across China. Local military authorities and provincial governors retreated to traditional silver standard coinage to maintain local economic stability and pay troops. Struck at the Kunming Mint in Yunnan Province under Governor Lu Han, this coin features the provincial capital's iconic Victory Hall (also referred to as the Provincial Capitol / Assembly Hall). Shortly after these coins were minted in late 1949, Yunnan surrendered to the People's Liberation Army, marking the end of Republican provincial silver minting in southwestern China.
Item & Certification Details
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Country / Authority: China – Yunnan Province (Republic of China)
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Date: Year 38 / 1949 (
三十八) -
Denomination: 20 Cents (貳角 / 2 Jiao)
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Catalog References: Lin & Ma LM-432 | Kann K-774 | KM Y-493
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Composition: Silver (.720 Fine Silver)
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Mint: Kunming Mint
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Certification: PCGS Encapsulated
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Cert Number:
#64230581 -
Grade: PCGS XF 40 (Extremely Fine)
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PCGS Census / Population: 263 graded in XF 40 (7,052 graded higher across all PCGS tiers)
Visual & Physical Description
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Obverse (Front): Features four central Chinese characters—
雲南省造(Made in Yunnan Province)—arranged around a central rosette/flower motif. The top and outer margins display the Nationalist era date民國三十八年(Republic of China, Year 38), surrounded by a beaded inner ring and border. -
Reverse (Back): Features a detailed architectural depiction of the Yunnan Victory Hall (Capitol Building) in Kunming. Below the building, two crossed flags or sprigs frame the base, flanked by traditional border denticles.
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In-Hand Appearance: A well-preserved mid-grade example showing light, even wear across the high points of the Victory Hall roof and central obverse lettering, retaining pleasant original grey silver toning.
"A historic artifact from the final months of the Chinese Civil War. Issued in 1849 (Year 38 of the Republic) at the Kunming Mint in Yunnan Province, this silver 20 Cents piece was produced as hyperinflation destroyed confidence in paper currency. Featuring the iconic Victory Hall building on the reverse and certified XF 40 by PCGS, this piece combines compelling modern East Asian history with strong numismatic appeal."
