The China 1928 “Kweichow Auto” Silver Dollar — history, features, and what it’s worth

The 1928 Kweichow (Guìzhōu) Auto Dollar is one of the most romantic — and collectible — provincial Chinese silver coins of the Republican era. Struck in Year 17 of the Republic (1928), it was commissioned locally in Guizhou province and famously features an automobile on the obverse — a deliberate celebration of the new roads and the governor Zhou Xicheng’s car. Its unusual subject, attractive design, modest original mintage, and historical context have made it a favorite of collectors for nearly a century. 

Physical description & variants

The coin is a one-yuan silver piece, about 39 mm in diameter and weighing roughly 25.8 g (approximately seven mace and two candareens by Chinese old weight standards). The obverse shows an automobile driving on a road with blades of grass near the curb (those blades are one of the variety markers), and the reverse carries Chinese legends with a central rosette. Small die- and design-variations exist (for example differences in the number of blades of grass or minor changes in lettering and wheel spokes), and collectors pay attention to these when attributing varieties. 

Historical background

The coin was minted during the chaotic Warlord Era of Republican China. Zhou Xicheng, who governed Guizhou in the late 1920s, oversaw road construction in the province and—the story goes—was proud enough of his automobile and roads to have the car commemorated on provincial coinage. The issue was produced at the Guiyang mint (and may have used dies/hubs that circulated regionally), and while the face value was one yuan it rapidly moved into the collecting world, especially by the 1930s. 

Rarity, mintage, and counterfeits

Official mintage figures are commonly given as 648,000 pieces — not a tiny number — but survivorship and market availability are affected by recall, melting, early hoarding by collectors, and regional losses. Importantly for buyers: the Auto Dollar is heavily counterfeited. The original struck coins suffered from die flaws and lower-quality metal relative to modern standards; later counterfeiters have sometimes used higher-quality silver and crisper dies, which can make fakery deceptively convincing. For these reasons, provenance and third-party grading/certification matter a great deal. 

What the coin is worth — price ranges & auction records

A 1928 China "Kweichow Auto" Silver Dollar sold for a record $336,000 in June 2023, which was a significant increase from a previous sale of $192,000 in January 2022. The higher price was achieved for an example with a higher grade (MS 62) compared to the earlier auction's coin (AU 53). 

Pricing for the 1928 Kweichow Auto Dollar varies dramatically with condition (grade), variety, and whether the piece has been certified by PCGS/NGC or similar. Here are the most important data points collectors cite:

Lower grades / raw common examples: In worn or unattributed (raw) condition these coins may trade for a few hundred to a few thousand dollars depending on visual appeal and whether the piece is an obvious genuine example. Marketplace listings (including eBay and dealers) sometimes show low-to-mid-range prices, but buyer beware because of counterfeit risk. 

Certified mid-grade examples: Coins certified in the VF–EF range that are authenticated by PCGS/NGC have sold in the low thousands to mid-thousands at auction historically (e.g., some auction lots from major houses show sales in the $5k–$20k neighborhood over the past decade). 

High-grade / rare verified pieces: Exceptionally preserved or high-grade certified examples command dramatically higher prices. Notable published auction results include six-figure sales: for instance, an NGC-graded example reportedly sold for about US$192,000 in January 2022, and another certified MS-62 example achieved about US$336,000 at a 2023 Hong Kong sale — these are outliers representing top-tier, certified specimens with strong provenance. Such headline prices underline how valuable the type can be in museum-quality condition. 

How to approach buying or valuing one today

Certification is crucial. Because counterfeits are common and sometimes higher quality than originals, you should insist on third-party certification (PCGS, NGC) or have the coin examined by a reputable numismatist before paying significant sums. Auction houses (Stack’s Bowers, Heritage, etc.) and major dealers are safer channels for high-value pieces. 

Compare recent auction records. Auction results provide the best evidence of market value; when assessing a coin, compare it to similarly graded examples sold at reputable auctions. Recent high-profile sales set the ceiling; average market prices will usually be lower. 

Look at variety details and provenance. The particular die variety (grass blades, wheel spokes, legend style) and the coin’s documented ownership history can change desirability and price. 

Bottom line

The 1928 Kweichow Auto Dollar is an historically rich, visually distinct provincial Chinese silver dollar that ranges in market value from a few hundred dollars (worn/unverified pieces) to tens of thousands for certified mid-to-high-grade examples, and six-figure prices are documented for the very finest certified specimens. If you own one or are considering buying one, your most important next steps are certification and comparison to recent auction sales from major houses — that’s the only reliable way to place a current market value on any specific coin.

Cheerio!