At the beginning, it was a virtual silver standard system that could not be exchanged. In 1935, the silver standard was abolished and the currency management system was used. It was equivalent to the Japanese gold dollar and became a Japanese currency dependencies. The pseudo-Manchukuo Central Bank has produced couple variety of gold coins.In the "Research of the Chinese Currency Charts" by E. Kann, He listed three varieties which one of them is this coin, and he believes that it was issued when the Bank was established. However, Kann later published a new work on the issue of The Numismatist in May of 1959 in the American Association of Currency Collectors (ANA), stating that the correct time for making it was in 1944, when the Japanese Kwantung Armys military that occupied Northeast China was used to strengthen the support of the Central Puppet State. The military instructed the Osaka Mint to produce a batch of "gold coins" in a sufficient amount to prepare for the bank's currency issuance. The quantity of gold was unknown.
Kann pointed out that these batches of gold coins have quasi-monetary conditions that are produced by the State Mint, are accurate in size and weight, and have substantial purchasing power. According to Kann, the coins weigh 31.50 grams with plain edge. The coin is divided by the difference of positive Chinese characters and the difference of 24K/1000 imprints on the back side. Most Chinese coin book did not mention this kind of coin because it only has few exist and also Chinese don't like that part of history. PCGS only graded one L&M-1068.This is the only L&M-1068 graded by both PCGS and NGC. Any China pre-1949 gold coin collector should really think about getting this coin. No Return for any graded coin. The item "G005 EXTREMELY RARE 1932 China Manchukuo FU gold Tael, PCGS MS60, L&M-1068" is in sale since Saturday, September 5, 2020. This item is in the category "Coins & Paper Money\Coins\ World\Asia\China\Empire (up to 1948)". The seller is "888eight" and is located in Oakland, California. This item can be shipped worldwide.