Khải Định Thông Bảo

[1] In response a new committee was formed in Hanoi which ordered the creation of machine-struck Khải Định Thông Bảo cash coins, these are the first machine-struck four character Thông Bảo (通寳) coins in Vietnam with the reigning emperor's name as the French government had prior tried to introduce a Cochinchinese 2 sapèque coin that continued under French Indochina that weighed 2.05 grams and had a nominal value of 1⁄500 piastre, later the colonial government of the French Protectorate of Tonkin had unsuccessfully tried to introduce a zinc milled sapèque produced by the Paris Mint with a nominal value of 1⁄600 piastre from 1905 until 1906.

[6][7] In the French protectorate of Annam cash coins were still being used for virtually all transactions as late as 1921, in order to combat deflation the Khải Định Thông Bảo was introduced and mass-produced.

[8] According to an ordonnance entitled Fixing the exchange of the new cash coins bearing the reign era of Khải Định (Fixant la valeur d'échange de la nouvelle sapèque portant la chiffre de Règne Khai-Dinh) signed on 01-09-Khải Định 5 (12 October 1920) by five of the six ministers of the Nguyễn dynasty, the Khải Định Emperor, and the Governor-General of French Indochina Maurice Long, the people of Đại Nam are "warned that cash coins are for their daily life and serve as an article of their very first necessity" and that "there is no worse malaise than the scarcity of cash coins", while emphasising that the production costs of the currency is higher than their nominal and market value and that their continued production constitutes a heavy burden both for the French Indochinese and Nguyễn dynasty governments, but that the government prefers to bear this burden than let the people suffer from the negative consequences of their scarcity.

[9] Because the machine-struck Khải Định Thông Bảo cash coins were heavier than the earlier milled 2 sapèques produced by the Paris Mint, they were likely valued at 1⁄200 piastre.

[1] A number of the machine-struck cash coins were produced by Poinsard & Veyret Comptoirs D'Extrême-Orient in Hải Phòng, French Tonkin.