CNG 96, Lot: 1087. Estimate $150. Sold for $95. This amount does not include the buyer’s fee.

CHINA, Xīn dynasty. Wáng Măng. AD 9-23. Æ “Biscuit” Huoquan (26mm, 13.79 g). Cast AD 14-23. Huo Quan in early zhuànshū Hànzì (seal script) characters / Blank. BN Chinoises II 516-9; Hartill 9.60. Good VF, green-blue patina.

From the J.P. Righetti Collection.

These enigmatic, extra-thick “biscuit” coins are found in a wide variety of weights. Though initially assumed to be funeral coins, none have been found in tombs, and their original purpose remains a mystery.