Hong Kong Coinage (香港錢幣) 華夏泉貨彙考

The First Hong Kong Coins I

The Hong Kong One Mil Coin

As a result of the Treaty of Nanking, Hong Kong became a British Colony in 1841, but the Hong Kong's own coinage did not come into existence until 23 years later. Sir Hercules Robinson, the Fifth Governor of Hong Kong [1859-1865]. who declared that the commencement of Hongkong's own coinage on 16th February 1864. Though Royal Proclamation had already granted the use of the new coinage in Hong Kong on 9th January 1863.
Before Hong Kong had her own coinage, Hong Kong currency followed the British sterling system with an official gold standard. Although it was unworkable for the trading economy between Hong Kong and Mainland China at that time. Later, as the traders and settlers of Hong Kong were accustomed to the Chinese system of using weighed silver as money, Hong Kong monetary authority had to change its currency standard from gold to silver in order to secure a better trading relationship with the Chinese in Kwangtung Province. So that the using of Hong Kong daily currencies tended to similarity with Mainland China. Traders and settlers of Hong Kong used Spanish or Mexican eight Reales silver coins and Chinese silver bars or ingots for large amount of transactions and used Chinese copper cash, as well as the Indian or British low denomination silver, copper coins for the small payment.

The Official Exchange Rate:
1 Pound Sterling = 5 Mexican Dollars 
1 Mexican Dollar = 2 and 1/4 Indian Rupees
1 Mexican Dollar = 1200 Copper cash

The issuing of Hong Kong first coinage were in three denominations including a silver ten cents, a copper cent and a copper mil. All three types of coin were minted in England, but were designed for use in Hong Kong. The value of each coin was denoted in both Chinese and English.

Marks of Rareness of the Collected Currencies
Extremely Rare A ~ Very Rare B ~ Rare C ~ Not So Many D ~ Common E

Obverse	Reverse	Description
		No. 111
		Diam. 15 mm
		Wt. 0.98 g.
		Rareness C
Mint Evolution & Peculiarity
This Mil first minted by the Royal Mint London in 1863. The inscriptions on the obverse of this coin are HONG - KONG ONE MIL 1863 V.R. and a crown. Four Chinese characters on the obverse means Hong Kong One Cash. One of the horizontal stroke of the Chinese character (Hong) is missing. Some other collectors told me that this was not an error, this was 'Filled Die'. At the time when this coin was minted, some foreign material went into the die to cause no impression on the planchet. This mil is much smaller and lighter than a Chinese copper cash of the same period, and has a round hole instead of a square hole in its centre. This small Mil had never proved popular and was discontinued after 1866.
Obverse	Reverse	Description
		No. 348
		Diam. 15 mm
		Wt. 0.98 g.
		Rareness C
Mint Evolution & Peculiarity
This is another Mil coin minted by the Royal Mint London in 1865. This Mil is similar to the above Mil coin, but no hyphen between HONG KONG on obverse. The inscriptions on the obverse of this coin are HONG KONG ONE MIL 1865 V.R. and a crown. Four Chinese characters on the reverse means Hong Kong One Cash.
Obverse	Reverse	Description
		No. 112
		Diam. 15 mm
		Wt. 0.98 g.
		Rareness D
Mint Evolution & Peculiarity
The inscriptions on the obverse of this coin are HONG - KONG ONE MIL 1866 V.R. and a crown. Four Chinese characters on the reverse means Hong Kong One Thousand. [I think this actually is a mistake. Please be noted that the meaning of the four Chinese characters on the reverse of those minted in 1863, 1864 and 1865 is "Hong Kong One Cash". Some of the One Mil coins minted in 1865 are no hyphen between HONG KONG on obverse.] You will find that the sizes of the two Arabic numerals "66" are not the same, the left one is larger than the right one on the obverse of this 1866 mil. Since this small Mil had never proved popular so that it was discontinued after 1866. Additional Comment from Ms S.M.R. of Malaysia Incidentally I came across something interesting in "The Star' Newspapaer of Malaysia in the Business column today in page 9. The author Dr. Ong Hean Tatt in the weekly " Sun Tzu's Management Leadership " column says that the Chinese Coin which is circular is a symbol of heaven while the square is a symbol of Earth. the Chinese circular coin with its square hole is sometimes regarded as a charm against evil. In your Interesting website you mentioned that Coin with description No. 111 had a round instead of square hole. Could that explain why this small Mil had never proved popular and was discontinued? S.M.R.

You can also view the Hong Kong One Cent Coins page or

Hong Kong One-Mil Coin Valuations and Mintages page
香港一文硬幣的一般價值及其鑄額 [Chinese and English]

Bibliography

Ray Hamson : Regal Coinage of Hong Kong, Hong Kong Museum of History handbook, 1966.

Robert Lam : The Currency of Hong Kong, published by the Urban Council,Oct., 1983. ISBN 962-7039-08-1 UC 10483.

Joe Cribb : Money in the Bank, published by Spink & Son Ltd 1987, ISBN 0907605 22 2

Chester L. Krause and Clifford Mishler Colin R. Bruce II. : Standard catalog of World Coins 1991, 18th edition.

Links/References
網站參考鏈接

Any additional comment would be much appreciated, you can send it to Y K Leung.