一、基本信息
中华民国开国纪念币孙小头壹元上六星，作为中国近代货币史上的标志性藏品，承载着推翻帝制、建立共和的历史记忆。该币直径39毫米，厚度2.4毫米，重26.8克，采用高纯度银（含银量约89%）铸造，符合国际银币标准。其正面镌刻孙中山先生侧面肖像，上方为“中华民国”四字，下方为“开国纪念币”字样；背面中央为嘉禾图案环绕“壹圆”面值，上方英文“MEMENTO”（纪念），下方“BIRTH OF REPUBLIC OF CHINA”（中华民国诞生），左右分列六角星，与普通流通版形成鲜明区分。
二、拍卖市场表现：500万成交背后的稀缺逻辑
2025年拍卖市场中，一枚品相极佳的孙小头上六星纪念币以500万元成交，创下该品类新高。这一价格并非孤立事件，而是多重因素共同作用的结果：
1. 存世量稀缺性：上六星版虽为后期流通币，但原光未流通品相（UNC）存世量不足千枚，且多数因流通磨损导致品相下降。其包浆自然、齿纹清晰、人物肖像立体感强，属“万里挑一”的顶级品相。
2. 历史价值溢价：作为民国首枚法定人像币，上六星版见证了从“龙洋”到“人像币”的货币制度变革，其设计打破帝王头像垄断货币的传统，象征民主共和思想的普及。这种历史符号价值，使其成为收藏界“以币证史”的典型代表。
三、收藏价值解析：多维度的价值支撑
1. 艺术与工艺价值
孙小头上六星版采用机器冲压技术，币面光洁度、图案清晰度远超手工雕刻币。其设计融合中西元素：孙中山肖像参考西方写实风格，嘉禾图案则延续中国传统吉祥纹饰，边齿规整度达到近代铸币工艺巅峰。这种“中西合璧”的审美，使其成为机制币艺术的经典范本。
2. 文化符号价值
作为民国货币改革的产物，上六星版承载着三重文化象征：
• 政治象征：孙中山头像替代清朝龙图，宣告帝制终结； • 经济象征：统一币制（“壹圆”面值）为民国经济整合奠定基础； • 社会象征：嘉禾图案寓意“五谷丰登”，反映民众对新生政权的期待。
3. 学术研究价值
上六星版存在多种细分版别，如“异花版”（长枝花呈“囧”形）、“三瓣星版”（花梢为三瓣）、“长头版”（头像比普通版长2毫米）等。这些版别差异为研究民国铸币工艺、模具管理提供了实物证据，具有极高的学术研究价值。
四、升值空间展望：长期向好，分化加剧
1. 稀有版别持续领涨
以五星版（上五星、下五星）为例，其存世量不足上六星版的1%，且多与辛亥革命历史事件直接关联。
结语：一枚钱币，一段历史
孙小头上六星纪念币的价值，不仅在于其金属材质或市场价格，更在于它作为“民国历史的活化石”，记录了一个时代的风云变幻。对于藏家而言，收藏孙小头，既是投资行为，更是对历史文化的传承与致敬。
Sun Xiaotou's commemorative coin for the founding of the Republic of China, with one yuan and six stars: a historical treasure and a new favorite for collectors
1、 Basic Information
The commemorative coin of the founding of the Republic of China, Sun Xiaotou, with one yuan and six stars, is a landmark collection in the history of modern Chinese currency, carrying the historical memory of overthrowing the monarchy and establishing a republic. The coin has a diameter of 39 millimeters, a thickness of 2.4 millimeters, and weighs 26.8 grams. It is made of high-purity silver (with a silver content of about 89%) and meets international silver coin standards. The front is engraved with a profile portrait of Sun Yat sen, with the words "Republic of China" above and the words "Founding Commemorative Coin" below; In the center of the back, there is a Jiahe pattern surrounding the "one circle" denomination, with the English words "MEMENTO" above and "BIRTH OF REPUBLIC OF CHINA" below. Hexagonal stars are placed on the left and right sides, forming a clear distinction from the regular circulation version.
2、 Auction Market Performance: Scarcity Logic Behind 5 Million Transactions
In the auction market of 2025, a six star commemorative coin on Sun Xiaotou with excellent appearance was sold for 5 million yuan, setting a new high in this category. This price is not an isolated event, but the result of multiple factors working together:
1. Scarcity of existing quantity: Although the upper six star version is a later circulating currency, the original un circulating coin (UNC) has a remaining quantity of less than a thousand, and most of them have decreased in quality due to circulation wear and tear. It has a natural patina, clear tooth patterns, and strong three-dimensional portrait, making it a top-notch appearance that is "one in a million".
2. Historical Value Premium: As the first legal portrait coin of the Republic of China, the Upper Six Star Edition witnessed the transformation of the monetary system from "Dragon Ocean" to "portrait coins". Its design broke the traditional monopoly of currency by imperial portraits and symbolized the popularization of democratic and republican ideas. This historical symbol value makes it a typical representative of the collection industry's practice of "using coins to prove history".
3、 Collection Value Analysis: Multidimensional Value Support
1. Artistic and Craft Value
The six star version on Sun Xiaotou adopts machine stamping technology, and the surface smoothness and pattern clarity of the coin far exceed those of hand carved coins. Its design integrates Chinese and Western elements: the portrait of Sun Yat sen references Western realistic style, while the Jiahe pattern continues traditional Chinese auspicious patterns, and the regularity of the edges and teeth reaches the peak of modern coinage technology. This combination of Chinese and Western aesthetics has made it a classic model for mechanism currency art.
2. Cultural symbol value
As a product of the currency reform of the Republic of China, the Six Star Edition carries three cultural symbols:
Political symbol: Sun Yat sen's portrait replaces the Qing Dynasty dragon image, announcing the end of the imperial system;
Economic symbol: The unified currency system (with a face value of one yuan) laid the foundation for the economic integration of the Republic of China;
Social symbol: The Jiahe pattern symbolizes "abundant grain harvest" and reflects the people's expectations for the new regime.
3. Academic research value
There are various sub versions of the "Six Star Edition", such as the "Strange Flower Edition" (long branched flowers in a "awkward" shape), the "Three Petal Star Edition" (flower tips with three petals), and the "Long Front Page" (avatar 2 millimeters longer than the regular version). These differences in editions provide physical evidence for studying the coinage technology and mold management of the Republic of China, and have high academic research value.
4、 Outlook for appreciation space: Long term improvement, intensified differentiation
1. Rare editions continue to lead the price increase
Taking the five-star version (upper five-star, lower five-star) as an example, its surviving quantity is less than 1% of the upper six star version, and it is mostly directly related to the historical events of the Xinhai Revolution.
Conclusion: A coin, a piece of history
The value of the six star commemorative coin on Sun Xiaotou lies not only in its metal material or market price, but also in its status as a "living fossil of the history of the Republic of China", recording the vicissitudes of an era. For collectors, collecting Sun Xiaotou is not only an investment behavior, but also a tribute to the inheritance of history and culture.
