Chinese Coin History
China is known for being the birthplace of paper money. However, this does not mean that it does not have a rich history in coins. For over 2,500 years, Chinese dynasties and governments have been casting and striking coins to fit the requirements of those in power. These coins are distinct from those in the Western world and prove a valuable addition to anyone's coin collection.
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Origins
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The Chinese first began using cowrie shells for money in 1800 BC under the Shang Dynasty. Metal imitations of the cowrie shells began to appear. These metal shells were placed on string and were known as "cash." It is unclear when metallic coins first became available, though bronze coins from the Chou Dynasty have been found that date to around 400 BC.
Han Dynasty
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The Pan Liang became the standard coin in China during the reign of Emperor Ch'e Wu-ti of the Western Han Dynasty. They were minted from approximately 140 BC to 118 BC. These coins were round with a square hole in the middle. Two Chinese characters can be seen on either side of the central square hole in this coin made out of copper. This design of coin became standard for all Chinese coins until 1911 AD.
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Tang Dynasty
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The K'ai Yuan coin was introduced under Emperor Kao Tsu of the Tang Dynasty in 618 AD. This coin differed from the Pan Liang and other coins that came before it as it featured Chinese characters on all four sides of the central square hole. These characters translate to mean the "precious currency of the K'ai Yuan era." This coin was standard currency for 300 years until the collapse of the Tang Dynasty in 907 AD. This coin was the only denomination struck during this period.
T'ai P'ing Rebellion
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In the 19th century, the T'ai P'ing Rebellion was a major rebellion against the imperial Chinese government. In 1855, the leader of the rebellion, Hong Qiuquan, had control of the southern and central provinces of China where the copper for coins was mined. Thus, the Chinese government issued emergency iron coins. These coins resemble coins from previous eras (round shape, square central hole and four characters on the coin), but they withstood time more poorly due to rust from oxidation.
20th Century
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Chinese coins now resemble coins common in Western markets. The Republic of China initially issued round coins made out of nickel that removed the central square hole. The coins featured Sun Yat-sen, the founder of the Republic of China, on one side with the denomination of the coin on the reverse. Currently, the People's Republic of China offers coins in one, two, and five fen and one and five jiao denominations. On one side, the coins feature the Tiananmen Gate, while the reverse features the denomination of the individual coin.
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References
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- Photo Credit chinese gold coins image by MAXFX from Fotolia.com
