The year 1912 was a tumultuous one in China. The rebels took control of the government and Sun was appointed provisional president, only to resign later that year.
This coin was struck to commemorate the formation of the republic and the Chinese inscription reads Republic of China Commemorative coin of the birth of the state. Although it is undated, it is presumed to have been made in 1912.
Only low numbers of this coin were minted and high-grade examples such as this are relatively rare. It carries an estimate of $15,000-25,000.