10 Cash - Guangxu Pei Yang, redesigned dragon

The Pei Yang Arsenal mint at Tianjin had been striking machine-made copper cash since the late 1890s, but the 1906 dragon redesign reflects the Qing court's repeated and largely unsuccessful attempts to standardize coinage across competing provincial mints. Each province jealously guarded its minting revenues, and Chihli — the metropolitan province surrounding Beijing — was no exception. The dragon itself went through several distinct iterations at this mint, making die variety attribution the primary challenge for serious collectors of this type.

Y#67.4 denotes a specific variant within a crowded subtype sequence. The differences between adjacent catalog numbers are subtle enough that misattribution is routine in general-market sales.