一、军政府造四川铜币五十文（中华民国元年）
1. 历史背景与铸造背景
此枚铜币诞生于1912年辛亥革命胜利后的四川军政府时期。当时，四川财政困窘，为稳定金融秩序、促进贸易流通，成都造币厂奉命铸造“军政府造四川铜币”，以替代前清龙纹铜币。其设计融合了地方特色与时代精神：正面中心为“四川铜币”四字，中心饰海棠花（象征四川），上环“军政府造”，下环“当制钱五十文”；背面中央为篆书“汉”字，外环十八小圈（代表十八省团结），上环“中华民国元年”。此币不仅见证了民国初年货币制度的变革，更承载了辛亥革命“驱逐鞑虏，恢复中华”的历史使命。
2. 工艺特征与稀缺性
材质与尺寸：直径37.2mm，重17.8g，符合民国初期铜币标准规格，材质为黄铜，包浆自然，锈色古朴，彰显岁月沉淀。
设计细节：正面“铜”字金旁连书四画，海棠花雕刻精细；背面“汉”字以直线纹为底，十八小圈排列规整，寓意深远。
稀缺性：四川铜币五十文虽为常见面值，但民国元年首年版因铸造时间短、存世量稀少，市场价值显著。2025年拍卖市场中，同类型铜币成交价达150万至203万元，品相极佳者更突破260万元。
3. 收藏价值与投资潜力
历史价值：作为辛亥革命后四川军政府发行的首批货币，其设计融合了地方文化与政治象征，是研究民国初年经济、政治、军事的重要实物资料。
市场表现：近年来，四川铜币五十文价格稳步攀升，尤其是民国元年版因存世量稀少，成为藏家竞相追逐的焦点。其价值增长潜力巨大，兼具保值与升值功能。
二、湖南双旗币二十文（五星版）
1. 历史背景与铸造背景
此枚双旗币铸造于民国初年（1912-1927年），正值中国政治体制转型与经济重建的关键时期。湖南省为缓解财政压力、促进贸易流通，自主铸造双旗币。其设计融合了新时代政治象征：正面为交叉的铁血十八星旗与青天白日满地红旗（五色旗），象征“五族共和”；双旗上方铸五角星，寓意光明、进步或革命胜利。背面为嘉禾图案，延续了中国传统货币对农业重视的寓意，呼应“民生为本”的理念。
2. 工艺特征与稀缺性
材质与尺寸：直径32.6mm，重10.7g，材质为红铜或黄铜，符合民国初期铜币标准规格。
设计细节：正面双旗线条清晰，五角星居中对称，须发可见；背面嘉禾图案雕刻精细，寓意五谷丰登。
稀缺性：五星版为双旗币中的特殊版别，可能为初期试铸或短期发行，存世量极为稀少。2025年拍卖市场中，同类型双旗币二十文成交价达147万至168万元，五星版因稀缺性更受藏家追捧。
3. 收藏价值与投资潜力
历史价值：双旗币二十文五星版是民国初年货币制度的实物代表，其设计融合了中西方文化元素（如五角星借鉴西方符号体系），体现了中国现代化进程中的文化融合。
市场表现：近年来，稀有版别双旗币价格持续攀升，尤其是五星版因存世量稀少，市场价值显著。2023年，一枚错版“牛口造”+五星图案款双旗币拍出203.3万元高价；2024年，特殊版别（嘉禾双旗背英文连叶纹版）成交价达380万元。
投资建议：优先选择品相好（如原光、包浆自然）的五星版双旗币，此类钱币在拍卖市场中往往能创造高价。此外，需通过正规渠道交易，并结合专业鉴别保障价值。
三、综合推荐理由
1. 历史意义深远 两枚铜币均诞生于民国初年这一关键历史时期，见证了中国从封建帝制向共和体制的转型，是研究中国近现代史、货币史的重要实物资料。
2. 工艺精湛独特 四川铜币五十文以海棠花、“汉”字、十八小圈为设计亮点，彰显地方特色与政治象征；湖南双旗币二十文五星版以双旗、五角星、嘉禾为设计核心，融合中西方文化元素，工艺水平极高。
3. 市场价值显著 近年来，两枚铜币在拍卖市场中表现强劲，尤其是稀有版别（如民国元年四川铜币五十文、湖南双旗币二十文五星版）价格持续攀升，成为藏家竞相追逐的焦点。
4. 投资潜力巨大 随着中国钱币收藏市场的持续扩大，稀有版别铜币的需求日益增长，供需关系推动价格稳步上升。同时，稀有钱币作为另类资产，具备抗通胀特性，成为部分投资者的选择。
Military government produces 50 wen Sichuan copper coins and 20 wen Hunan double flag coins (five-star version). Recommended Republic of China coins
1. Military government produces 50 wen Sichuan copper coins (in the first year of the Republic of China)
1. Historical background and casting background This copper coin was born during the Sichuan Military Government period after the victory of the Xinhai Revolution in 1912. At that time, Sichuan was facing financial difficulties. In order to stabilize financial order and promote trade circulation, Chengdu Mint was ordered to mint "Military Government Made Sichuan Copper Coins" to replace the previous Qing Dynasty dragon patterned copper coins. Its design integrates local characteristics and the spirit of the times: the front center features the four characters "Sichuan Copper Coin", the center is decorated with a crabapple flower (symbolizing Sichuan), the upper ring is "Made by the Military Government", and the lower ring is "Fifty wen for Making Money"; The center of the back is the seal script character "Han", with an outer ring of eighteen small circles (representing the unity of the eighteen provinces) and an upper ring of "the first year of the Republic of China". This coin not only witnessed the reform of the monetary system in the early years of the Republic of China, but also carried the historical mission of the Xinhai Revolution to "expel the Tartars and restore China".
2. Process characteristics and scarcity Material and Size: Diameter 37.2mm, weight 17.8g, in line with the standard specifications of copper coins in the early Republic of China. The material is brass, with natural patina and antique rust color, reflecting the accumulation of time. Design details: On the front, there are four paintings with the word "copper" on the gold side, and exquisite carvings of crabapple flowers; The character "Han" on the back is based on a straight line pattern, with eighteen small circles arranged neatly, conveying profound meanings. Scarcity: Although the Sichuan copper coin of fifty wen is a common denomination, the first year edition of the Republic of China had a significant market value due to its short casting time and rare existence. In the auction market in 2025, the transaction price of copper coins of the same type will reach 1.5 million to 2.03 million yuan, and those with excellent appearance will exceed 2.6 million yuan.
3. Collection value and investment potential Historical value: As the first batch of currency issued by the Sichuan Military Government after the Xinhai Revolution, its design integrates local culture and political symbols, and is an important material for studying the economy, politics, and military of the early years of the Republic of China. Market performance: In recent years, the price of Sichuan copper coins at 50 wen has steadily risen, especially the Republic of China era edition, which has become a focus of collectors' pursuit due to its rare existence. Its value growth potential is enormous, with both preservation and appreciation functions.
2. Hunan Double Flag Coin 20 wen (Five Star Version)
1. Historical background and casting background This double flag coin was minted in the early years of the Republic of China (1912-1927), during a critical period of political system transformation and economic reconstruction in China. Hunan Province has independently minted dual flag coins to alleviate financial pressure and promote trade circulation. Its design incorporates political symbols of the new era: on the front, there is a cross shaped iron and blood eighteen star flag and a blue sky, white sun, and ground red flag (five colored flag), symbolizing the "Five Ethnicities Republic"; Cast a five pointed star above the dual flags, symbolizing brightness, progress, or revolutionary victory. The back features the Jiahe pattern, which continues the traditional Chinese currency's emphasis on agriculture and echoes the concept of "putting people's livelihoods first".
2. Process characteristics and scarcity Material and Size: Diameter 32.6mm, weight 10.7g, made of red copper or brass, in accordance with the standard specifications for copper coins in the early Republic of China. Design details: Clear double flag lines on the front, symmetrical pentagonal star center, visible hair; The intricate carving of the Jiahe pattern on the back symbolizes the bountiful harvest of the five grains. Scarcity: The five-star version is a special type of dual flag coin, which may be initially minted or issued for a short period of time, with extremely rare surviving quantities. In the auction market in 2025, the transaction price of the same type of double flag coin 20 wen reached 1.47 million to 1.68 million yuan, and the five-star version is more sought after by collectors due to its scarcity.
3. Collection value and investment potential Historical value: The Double Flag Coin 20 wen Five Star Edition is a physical representative of the currency system in the early years of the Republic of China. Its design incorporates elements of both Eastern and Western cultures (such as the pentagram drawing inspiration from Western symbol systems), reflecting the cultural integration in China's modernization process. Market performance: In recent years, the price of rare dual flag coins has continued to rise, especially the five-star version, which has significant market value due to its rare existence. In 2023, a mismatched "Niukou Made" and five-star pattern dual flag coin was sold for a high price of 2.033 million yuan; In 2024, the special edition (Jiahe Double Flag Back English Leaf Pattern Edition) was sold for 3.8 million yuan. Investment advice: Prioritize choosing five-star dual flag coins with good appearance (such as original light, natural patina), as these coins often create high prices in the auction market. In addition, it is necessary to conduct transactions through formal channels and combine professional identification to ensure value.
3. Comprehensive recommendation reasons
1. Profound historical significance Both copper coins were born during the critical historical period of the early Republic of China, witnessing China's transition from a feudal imperial system to a republican system. They are important physical materials for studying China's modern and monetary history.
2. Exquisite and unique craftsmanship The 50 wen Sichuan copper coin features the design highlights of Haitang flower, "Han" character, and eighteen small circles, highlighting local characteristics and political symbols; The Hunan Double Flag Coin 20 wen Five Star Edition is designed with double flags, five pointed stars, and Jiahe as its core elements, integrating Eastern and Western cultural elements, and has a high level of craftsmanship.
3. Significant market value In recent years, two copper coins have performed strongly in the auction market, especially rare editions (such as the 50 wen Sichuan copper coin from the first year of the Republic of China and the 20 wen five-star edition of the Hunan Double Flag coin), which have continued to rise in price and become the focus of collectors' pursuit.
4. Huge investment potential With the continuous expansion of the Chinese coin collection market, the demand for rare edition copper coins is increasing day by day, and the supply-demand relationship is driving prices steadily up. Meanwhile, rare coins, as alternative assets with anti inflation properties, have become the choice of some investors.
