2 Jiao - Guangxu Pei Yang Arsenal, type 2

The Pei Yang (Beiyang) Arsenal Mint operated under Li Hongzhang's northern military-industrial complex at Tianjin, producing provincial silver partly to fund the Self-Strengthening Movement's modernization agenda after the humiliations of the Sino-Japanese War of 1894–95. This second type variant is distinguished from the first by subtle die differences in the arrangement of the Chinese characters — a distinction that went unnoticed in general commerce but matters considerably to collectors working the Y#63 series.

Production was short-lived. The mint's silver coinage program was curtailed as centralization efforts under the Qing Board of Revenue shifted authority away from provincial and military mints toward the end of the decade.