Ancient Chinese coinage

These coins, used as early as the Spring and Autumn period (770–476 BCE), took the form of imitations of the cowrie shells that were used in ceremonial exchanges.

At first the distribution of the coinage was limited to use around the capital city district, but by the beginning of the Han dynasty, coins were widely used for such things as paying taxes, salaries and fines.

[1]: 1 Inscriptions and archaeological evidence shows that cowrie shells were regarded as important objects of value in the Shang dynasty (c. 1766 – 1154 BC).

Some think the first Chinese metallic coins were bronze imitations of cowrie shells[2][3] found in a tomb near Anyang dating from around 900 BC, but these items lack inscriptions.

[8][9] Hollow handled spades (Chinese: 布幣; pinyin: bùbì) are a link between weeding tools used for barter and stylised objects used as money.

At Luoyang a find was made in 1976 of 116 flat handled spades of various types (Xiangyuan, Lin, Nie, Pingyang, Yu, Anyang, and Gong), 46 Anzang round coins, 1 yuan round coin, and small/sloping shoulder spades from Sanchuan, Wu, Anzang, Dong Zhou, Feng, and Anzhou.

The inscription was maintained through repeated rounds of debasement and despite constant counterfeiting, however, so that in practice Ban Liangs are found in a great variety of sizes and calligraphic styles and are difficult to date and classify exactly, especially with regard to local and unofficial mints.

A remarkable find was some bamboo tablets amongst which were found regulations (drawn up before 242 BC) concerning metal and cloth money.

The first reform, in AD 7, retained the Wu Zhu coin, but reintroduced two versions of the knife money: Between AD 9 and 10 he introduced an impossibly complex system involving tortoise shell, cowries, gold, silver, six round copper coins, and a reintroduction of the spade money in ten denominations.

According to Schjöth, Wang Mang wished to displace the Wu Zhu currency of the Western Han, owing, it is said, to his prejudice to the jin (Chinese: 金; pinyin: jīn; lit.

'water'), which happened to be the name of the village, Bai Shui in Henan, in which the Emperor Guang Wu, who founded the Eastern Han, was born.

In 2000, clay moulds and other casting materials for Da Quan Wu Bai coins were discovered in the Western Lake, Hangzhou.

Tai Qing Feng Le (Chinese: 太清豐樂; pinyin: tài qīng fēng lè; lit.

Tai Huo Liu Zhu (Chinese: 太貨六銖; pinyin: tài huò liù zhū; lit.

The legend was written by the famous calligrapher Ouyang Xun in a much admired mixture of the Bafen and Li (official or clerkly) styles of writing.

In 845, in the Huichang period, the Emperor Wu Zong, a fervent follower of Taoism, destroyed the Buddhist monasteries and used the copper bells, gongs, incense burners and statues to cast coins in various localities.

However, when Emperor Xuanzong ascended to the throne the next year, this policy was reversed, and the new coins were recast to make Buddhist statues.

Five officially recognised dynasties ruled consecutively in the north (with capitals at Kaifeng or Luoyang in Henan), while ten different kingdoms held sway at different times in the south.

Tian Cheng yuan bao (Chinese: 天成元寶; pinyin: tiānchéng yuánbǎo) were issued by Emperor Ming in the Tiancheng period (926–929).

Tian Fu yuan bao (Chinese: 天福元寶; pinyin: tiānfú yuánbǎo) were issued by Emperor Gao Zong in the Tianfu period from 938.

In 948, during the reign of Emperor Gao Zu, the President of the Department of Imperial Feasts requested permission to set up a mint in the capital (Kaifeng, Henan).

Zhou Yuan tong bao (Chinese: 周元通寶; pinyin: zhōuyuán tōng bǎo) coins were issued by Emperor Shi Zong from 955.

Wang Jian began his career as a village thief; he enlisted as a soldier, rose through the ranks, and by 901 was virtually an independent ruler, with his capital at Chengdu in Sichuan.

Issued by Wang Yanxi: Issued by Wang Yanzheng: Supreme Commander Ma Yin: Emperor Yuan Zong (Li Jing) (943–961): Emperor Li Yu (961–978): Distinguished from Tang period Kai Yuan by the broader rims, and the characters being in less deep relief.

In the second year of Qiande (961), Li Yu ascended the throne, and the resources of the country being exhausted, his minister Han Xizai obtained permission to cast coins.

In 924, it was reported: In the shops and the markets, control of silk and money has resulted in the circulation of small lead coins which we readily find in great quantities; they all come from south of the [Yangtze] river whence the merchants transport them here surreptitiously.

Although Yong An was a Xia dynasty period title, these coins appear to be the result of unregulated minting, which seems appropriate for the regime of the Liu family.

Most mints produced 200,000 strings a year; the largest was named Shao Zhou and located in Guangdong, where there was a large copper mine.

A feature of Northern Song coinage is the sets of dui qian (Chinese: 對錢; pinyin: duì qián; lit.

At this time, the mints were ordered to cast 3 million strings of iron cash to meet military expenses in Shaanxi.