Lenin Dollar - Museum Gallery

This example, with hammer & sickle reverse, are still controversial issues. KM has them as "authenticity in doubt", and Wenchao (Shanghai Museum) has them as 'fabrications.' These are now usually described as Fantasy issue or in China as 'mint sports" because there were minted at official Chinese mints (Shanghai) by mint officials, but unauthorized. However, Duncan Raeburn in his monograph "Chinese Soviet - Coins & Notes", a work printed and read before the Numismatic Society of China in Shanghai in January 1937, shows this profile portrait coin of Lenin. I am confident that this is the first article ever describing the issues of the Chinese Soviets. Yet, these are remarkable strikes compared to all other Soviet issues. Wenchao shows them as being minted in several varieties: 1) one with 'One Yuan' reverse; 2) this one w/Hammer & Sickle rev.; 3) a mule with portraits Ob. & Rx; 4) struck in gold w/hammer & sickle Rx. They are now listed in KM's "Unusual World Coins" catalog, they were previously listed in KM SCWC (i.e. 1977 edition) as "authenticity is doubt".
The evidence from Raeburn shows that these were struck fairly early during chaotic times. Kann (#800, 1953) also documents these profile Lenin Dollars. These facts might lead one to conclude that these issues were presentation pieces most likely with the USSR in mind. To the extent that the USSR aided the cause of revolutionary movements worldwide these pieces could have been struck as a token of gratitude. They are considered 'Fantasy' pieces, something Chinese sources term 'Mint Sports'. Proof-like & reeded. Money Company auction, June 1979, lot#299. They are highly regarded, collected, and quite scarce.

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
[ link ]
Soviet Coins Intriguing - Hogan
[ link ]
Chinese Soviet Coins and Notes - Raeburn (1937!)
[ link ]
Chinese Communist Armies Silver Coins - Kann
[ link ]

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: [ link ]
Part II: [ link ]
Part III: [ link ]

The Comprehensive Catalog of Chinese Copper Coins ("SOVIET" extract; color illus.) - Duan
[ link ]

Stack's Bowers Galleries (Apr. 2025 Auc. Lot# 40209) had this description for their example:
Enticing Communist Fantasy Dollar Attributed to Lenin
CHINA. Fantasy Silver "Lenin" Dollar, "1931" (in characters). PCGS Genuine--Cleaned, AU Details.
K-B73; KMX-850; WS-1349-32. Mimicking the ever-popular communist issue thought to be featuring the bust of Vladimir Lenin, this fantasy offers the chance at a much more affordable rendition of the emission, owing to the EXTREME RARITY of the official issues. All design aspects are quite crisp and clear, with some light cleaning as noted along with an olive-gunmetal gray hue throughout. Interestingly, though long ascribed to Lenin, it should be pointed out that this issue bears no resemblance whatsoever to Lenin. Likely engraved locally by someone with little-to-no knowledge of Lenin's features, it is similar to Sun Yat-sen's "Mausoleum" Dollar, which similarly bears little resemblance to the intended subject on account of an engraver foreign to the culture that he was depicting. Estimate: $5,000 - $10,000. [Go all the way to the bottom to see two previous examples and the hammer prices, highly variable). You may be able to visit the page at this [ link ]