China Kiau Chau 5 Cents / 5 Fen 1909

KM# 1, N# 20877; Copper-Nickel 2.96 g.; Wilhelm II; Deutsch Asiatische Bank; 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.;; AUNC-