Republic of China type - under War Lord Yuan Shi-Kai. However, the details/style of this coin has been classified by experts as a very rare issue of the Chinese Soviets. The Soviets made copies of various Republic coins in order to purchase items outside of the Red Army Base Camps. Their soviet money was not accepted outside their camps due to the severe penalties and death for holding communist money.
The dollars seem to be way more prevalent than any of the fractional denominations. Lots of luster on worn dies, probably should be graded higher.
This is the description presented at the Apr 2012 Stacks Bowers HK Auction where I bought this at $417 + fees:
"CHINA. - Soviet Issues. 20 Cents, Year 3 (1914). PCGS AU-55 Secure Holder. cf.L&M-65; cf.K-561; cf.Y-327; cf.Hsu-68. A piece which we believe to be a Soviet imitation made to purchase goods in republic controlled regions. Note the stylistic irregularities in the ear, mustache and hairline of Yuan Shih-kai as well as differences in the legend's calligraphy. Well made and apparently still an effective forgery.
Estimate: $300 - $500. PCGS AU-55 Secure Holder"
Here are a number of RARE articles on Communist Chinese Soviet coins & notes from the Moneta Library:
VIEW & DOWNLOAD:
Soviet Chinese Copper Coins ("Little Brown Book") - Hua Guangpu
Soviet Chinese Coppers - Hua Guangpu
Soviet Coins Intriguing - Hogan
Chinese Soviet Coins Intriguing - Hogan
Chinese Soviet Coins and Notes - Raeburn (1937!)
Chinese Soviet Coins and Notes - Raeburn
Chinese Communist Armies Silver Coins - Kann
Chinese Communist Armies - Kann
The premier articles on Early Chinese Soviet issues are the invaluable documents below. It covers the history, coins and notes from 1927-1935 and includes photos and a map: (with color photos; in 3 parts);
The Money of Communist China - Sandrock (3 part series)
Part I: The Money of Communist China 1927-1949 - Part I
Part II: The Money of Communist China 1927-1949 - Part II
Part III: The Money of Communist China 1927-1949 - Part III
The Comprehensive Catalog of Chinese Copper Coins ("SOVIET" extract; color illus.) - Duan
Chinese Soviet Copper Coins - Duan
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