20 Cash 'TWENTY CASH', five characters

Hunan's provincial mint had a turbulent operational history in the early Republic period, frequently interrupted by warlord conflicts and changes in local military control. By 1919, the province was cycling through successive governors at a pace that made consistent monetary policy nearly impossible. This particular issue — distinguished by the English "TWENTY CASH" legend — was one of several competing cash denominations struck in the same period, many of which saw only brief regional circulation before being displaced or hoarded as the political situation deteriorated further through the early 1920s.