Lot 242 - China, German Enclave of Kiau Chau. Wilhelm II Cu Ni 10 Cents. 1909.

China, German Enclave of Kiau Chau. Wilhelm II Cu Ni 10 Cents. 1909. 島青, 大, 寶國, 德, 角壹, 元壹洋大當枚十每, inner & outer circle / DEUTSCH. KIAUTSCHOU GEBIET, denomination & date below, The Imperial German Coat-of-Arms (including an anchor) centre. KM 2. 4.00g, 21.50mm, 12h.About Extremely Fine. Very scarce. This was issued by the Deutsch-Asiatische Bank in October 1909 to cope with market confusion arising from the currency exchange between the Mexican 8 Reales (which Chinese merchants commonly used) and the Deutsche Mark. By circulating Kiau Chau coins, Chinese merchants were able to exchange at the Deutsch-Asiatische Bank for a Mexican 8 Reales (as 1 Yuan), preventing the exchange problem. It is statutory that local authority had unlimited obligation to exchange all Kiau Chau coins for Mexican 8 Reales, and may not refuse any Kiau Chau coins for transactions within 3 Yuan. When Tsingtao was occupied by Japanese military on November 7, 1914, the Kiau Chau coins ceased to circulate.