Yuan Shikai Dollar

The Yuan Shikai Dollar is a silver one-yuan coin of the Republic of China, instantly recognizable by the left-facing profile bust of Yuan Shikai on its obverse. The example pictured is dated Year 3 (1914), the first and most common year of the type. Above the portrait run the Chinese characters reading "Republic of China, Year 3." The reverse shows the denomination "One Yuan" enclosed within a wreath of grain and laurel.

Collectors know the coin affectionately as the "Fatman Dollar" or "Fat Man Dollar," a reference to Yuan Shikai's rounded, close-cropped head; in Chinese it is called Yuan Datou, literally "Yuan Big Head." It was one of the most heavily produced silver dollars in Chinese history and circulated widely as a trade and everyday coin for decades.

As a large crown-sized silver piece, the Yuan Shikai Dollar is both a bullion coin and a cornerstone type for anyone collecting the coinage of Republican China. Its familiar design makes it one of the most frequently encountered — and most frequently counterfeited — Chinese silver dollars.

Yuan Shikai was a powerful military and political figure who became the first formal President of the Republic of China after the 1911 revolution that ended the Qing dynasty. To unify the new nation's chaotic, fragmented currency, his government issued a standardized national silver dollar. The coin was authorized under the national coinage regulations of 1914, and the Year 3 date on the pictured coin corresponds to that year.

The design has long been attributed to the Italian engraver Luigi Giorgi, who worked at the Tianjin Mint. The new dollar was intended to replace the many competing provincial dragon dollars and foreign trade coins then circulating, and it succeeded so thoroughly that it became the dominant silver coin across much of China.

Production of the type continued well after Yuan Shikai's death in 1916, with additional issues dated Year 8, Year 9, and Year 10 struck into the early 1920s. Because the coin remained trusted, mints kept striking it — and later restrikes and copies were made — long after the original dates. It circulated for decades and was heavily hoarded, which is why so many survive today.

The obverse shows the bare-headed bust of Yuan Shikai in profile facing left, wearing a high-collared military uniform. A line of Chinese characters arcs across the top reading "Republic of China, Year 3" (or Year 8, 9, or 10 on later issues). The portrait's rounded head is the origin of the "Fatman" and "Big Head" nicknames.

The reverse is dominated by the denomination in large Chinese characters — Yi Yuan, "One Yuan" — set within an open wreath of two branches of grain tied at the bottom. Unlike many later Chinese dollars, the standard Year 3 reverse carries no dragon and no Latin lettering, so the wreath-and-characters design is a key identifier.

Physically the coin is a crown-sized silver dollar, roughly 39 mm across and about 26 to 27 grams, struck in high-grade (about .890 fine) silver with a reeded edge. Confirm the left-facing military bust, the "Year 3" legend, and the grain wreath enclosing "One Yuan" to identify the type. Genuine pieces are substantial in the hand and ring true for silver.

The Yuan Shikai Dollar is among the most widely traded Chinese silver dollars, and because millions were struck, common Year 3 examples in circulated grades trade at modest premiums over their silver content. Demand is strong and steady, so even worn coins have a ready market.

Value rises sharply with condition and with scarcer varieties. Sharply struck, lustrous uncirculated coins, particular die varieties, and certain rarer dates or signature/lettered-edge types command significant premiums, while ordinary circulated Year 3 pieces remain affordable and easy to find.

Because the type is so popular and so valuable in high grade, it is one of the most counterfeited coins in the world, including deceptive silver and base-metal fakes as well as later restrikes. Certified examples from a reputable grading service bring the most confidence and the strongest prices. Actual values depend on date, grade, variety, and the silver market, and are best checked against recent sales of comparable coins.