User:Donald Trung/Arrow coins



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 * ✅. --Donald Trung (talk) 19:31, 29 September 2019 (UTC).

Arrow coins (1464)
In the year 1464, King Sejo had introduced a new form of currency known as the "arrow coin" (箭幣; 전폐, chŏn p'ye). This currency was shaped like an arrowhead which allowed it to be used as a medium of exchange during times of peace and as a weapon when the country was fighting another war.

The royal instructions regarding the "arrow coin" and how it should be circulated can be translated as the following excerpt:

The blade of the "arrow coin" resembled a leaf of a willow tree and its stem was inscribed with the text P'albang T'onghwa (八方通寶; 팔방통보, which could be translated as either "currency in eight directions" or "eight directions universal money") this text indicated that the "arrow coin" was legal tender throughout Korea.

The arrowhead had a length of 55 millimeters long and its stem was an additional 52 millimeters making the "arrow coin" 107 millimeters long. 1 "arrow coin" was nominally worth 4 pieces of Joseon era paper money.

The new currency did not receive the support of the Korean people causing the failure of yet another attempt to establish a money-based economy in Korea to fail. No surviving specimens of the Korean "arrow coin" ave ever been discovered.

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