Cowrie
shells appear
to have been used as money in China by the 14th century BC.
As
commerce developed, so did a shortage of shells, especially in the
inland areas. Substitute cowries were made from various
materials
including bone, wood and metal. This ancient Chinese cowrie substitute
was carved from bone. Use of cowries and cowrie substitutes was
outlawed in 221BC.
ANCIENT
CHINESE KNIFE COIN
The
Pan Liang was the standard coin of the realm in ancient
China.
These
Pan Liang coins are from the reign of Emperor Ch'e Wu-ti of the Western
Han Dynasty and were minted from about 140BC to
118BC. The
design of the coin, a round coin with a square hole became a standard
that
China continued to use for over 2000 years, until 1911AD. The
coins
are remarkably inexpensive considering their age.
In
118BC Emperor Yuan-shou withdrew the Pan-Liang coin and introduced a
new
coin, called the Wu Ch'u (Wu Shu or Wu Chu) It had a value of
5
Shu.
Unlike the earlier Pan Liang coins it had a raised rim to prevent
filing.
The coin proved quite popular, and continued to be issued in various
versions
for the next six centuries! 
Wang
Mang was
appointed regent for the young
Chinese Emperor in 7AD. Two years later he killed the boy and usurped
the
throne. He attempted major reforms of China's
economy including the
abolition of slavery, introduction of an income tax, redistribution of
the land
from the land owners to the peasants, instituted price controls,
confiscation
of gold, demonetized existing coins and instituted new ones based on an
unbacked fiat coinage. Despite the execution and exile of
thousands, most
of the reforms were not accepted. The economy collapsed, there were
widespread
general strikes and massive starvation. In 23AD Wang was
slain
and his
"reforms" were abolished. Are pleased to offer two of Wang
Mang’s coins. The first is a Ta Ch'ien Wu Shih coin, which he
introduced in
7AD. Though
only slightly heavier
than
the old cash coins, it was worth 50 cash coins. As might be expected
the merchants did not take too kindly
to
this new
coin and unrest began to develop. In 14AD the value of the Ta Chi'en Wu
Shih
coin was reduced from 50 Wu Ch'u Cash to 1 Wu Ch'u, and a new coins
were introduced
as part
of one of his many (unsuccessful) monetary reforms. The new coin
included the a Hou
Ch'uan was much smaller, yet had the same theoretical value as the
newly
devalued Ta Chi’en Wu Shih coin. Also introduced was an unusual coin,
called the Hou Pu. The Hou Pu, sometimes called "pants money"
or
a "spade coin", was modeled after the ancient Chinese spade coins,
which had not been in circulation for over 200 years. It had
a
value of 25 Hou Ch'uan. The Hou Ch’uan and Hou Pu
remained
in use
until
after his death, when the Wu Ch’u was restored as the standard
circulating coin
of China.
The
K'ai Yuan coin
was introduced by Chinese Emperor Kao Tsu, who founded the Tang Dyansty
in 618AD.
The coins replaced the previously used Wu-Chu and other
coins.
The
high quality of the coins and excellent calligraphy set a standard for
Chinese coins for the next 1000 years! The legend
on the
coin,
K'ai Yuan Tung Pao translates as "precious currency of the K'ai Yuan
era".
The Tang Dynasty was a brilliant period in Chinese history.
It
was
an era of great prosperity and artistry. The K'ai
Yuan coin
continued to be issued for the next 300 years, until the collapse of
the
Dynasty in 907AD. During much of the dynasty the
coin was
the
only denomination struck. Because of the relatively low value
of
the coin and the high level of commerce a LOT of the coins were issued
during that period. (Think of doing all your transactions with only
pennies!)
As a result the coin, though over 1000 years old, is still plentiful
and
inexpensive.
The
Northern
(Pei) Song (Sung) Dynasty came to power in
960AD. China prospered under its wise Emperors and a
competent
and honest civil service. In 1101 Emperor Hui Zong (Hui
Tsung)
came to power. An cultured man, poet, painter and avid patron
of
the arts, he spent vast sums collecting art, supporting artists, and
building a costly imperial garden. He neglected the
affairs
of state. The civil service became increasingly corrupt, the
army
weak, and the treasury bankrupt. The Emperor allied himself with the
increasingly powerful Jin (Chin Tarters) of Manchuria to attack and
destroy the neighboring Liao Kingdom. The Jin (Chin), then
turned
against him and succeeded in sacking and destroying the weakened Song
Dynasty. Hui Zong was captured, along with most of the
Imperial
Court, and died in exile in Manchuria.
The
Jen
(Chin Tarters) were
a tribe that came out of Manchuria and were ancestors of the Manchu's
who later founded the Qing (Ch'ing) Dynasty. They initially
allied themselves with the Northern Song (Sung) Dynasty, then turned
against their allies, capturing vast amounts of treasure, most of the
Imperial family and by 1127AD controlledmost of Northern
China.
For 30 years they continued to use the existing Liao and Song coins in
circulation, along with notes and silver. In 1158 King Hai
Ling
Wang, (Wan Yan Liang) set up the first mint of the
Dynasty.
The coins were of good quality and bore the as the reign title Zheng
Long (Cheng-Lung). In 1161AD Hai Ling attempted to attack the
remenants of the Song Dynasty in Southern China, known as the Southern
Song (Sung) Dynasty. At the same time he faced the
simultaneous
rebellions of the nobles and various tribes in Manchuria. Finding his
forces spread too thin, he was defeated by the Southern Sung and was
assassinated by his own generals in 1161AD.
Hung
Wu
(Hongwu) was the son of a poor peasant. He
became a Buddhist monk to avoid starvation. He later joined a
group of bandits that attacked the rich and gave to the poor.
He
proved to be capable leader and soon took over leadership of a rebel
army that was fighting to overthrow the Mongol of the Yuan
Dynasty. After gaining control over Southern China he
proclaimed
himself Emperor in 1368 and founded the Ming Dynasty. He
eliminated potential rivals and soon defeated the Mongols. As Emperor,
he implemented many reforms, including distribution of land to small
farmers, that lead to a new period of prosperity for China.
Anyway, a Ming coin is sure a lot cheaper than a Ming vase!
In
1644 the
Manchu Dynasty
overthrew the Ming Dynasty by capturing Peking, the capital of
China. For the next two decades various remnants of the Ming
dynasty attempted to regain control of China. One of the more
notorious of these rebels was Sun K’o Wang (Sun Kewang). We offer a
large 5 Cash coin issued by him shortly after he established his
capital in Yunnan in 1647. He formed a functioning government, however
he was more interested in maintaining his own power rather than
restoring the Ming Dynasty. He kept the imperial family under
his
control at an isolated outpost under harsh conditions and fought
against other rebel groups. In 1657 he surrendered to the Manchu’s who
pensioned him off with honorific titles and a comfortable
retirement. The coin bears his reign title on one
side and
the denomination on the other. Thought the coin shows little
wear, however it has a heavy crusty patina, so we will call it VG-F.
Pu
Yi,
also known by his
reign title Hsuan-T'ung ascended to the throne of China in 1908 at age
three, upon the death of his uncle, the previous emperor. By
this
time however Imperial rule was already collapsing due to repeated wars,
foreign interference and internal misrule. In 1911 the Republic of
China was established, and he was forced to abdicate the
throne.
This one cash coin of Hsuan-t'ung was one of the last cast square hole
cash coins to be issued by China. The coin was issued by the Board of
Revenue Mint in Peking. This is the scarce, larger size
(24mm)
variety of the coin in nearly original condition. It shows
little
or no wear. The coin catalogs for $30 in VF, however our
price is
MUCH less.
These
two historic silver 20 Cent coins were
issued by Yunnan Province in China. The Flag 20 cents shows the crossed
flags of the Republic of China and the ruling Kuo Ming Tung
party. The coin is dated 1932, a time when Yunnan
was under
the control of a local warlord who encouraged the cultivation of the
opium poppy and very heavily taxed his citizens. The Capitol
20
Cents pictures the provincial capitol building. It was issued
in
1949, after most of the rest of China had fallen to the communists. The
reverses of both coins have Chinese legends. OLD
REPUBLIC OF CHINA COINS PICTURE ANCIENT SPADE COIN
An ancient Chinese Spade coin is
pictured on the reverse of each of these three issued by the
Republic of China during the 1930’s. Included is the 1936 5 Cents, the
1938 10 and 20 Cents. Sun Yat Sen, founder of the Republic of
China is pictured on the obverse. All three coins are nickel.
Together the coins catalog for $18, however our price is MUCH less.
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