This Soviet was one of the original Base Camps from which the Long March began. This coin, and the other even rarer one, KM2 (if you can imagine such!) were issued before they were forced to flee. They took coins and minting equipment when the March began but at the first river battle they had to lighten their loads and dump it all in the river. There is only one other coin in Chinese monetary history that bears the value (50 Cash), and date, in English. The '10' after 1931 might refer to the month of October.
This example was obtained at the Baldwin Hong Kong auction #42 (30 Aug. '07), Lot #547 it brought $862. These coins are always crude and lightly struck, this example is far better than the current KM plate coin. From Guangpu (below): Reading characters from the left side: "Minted by Northwest District of Anhui Soviet." See the Museum for an obvious fake of the other Wan-Hsi-Pei issues.
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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