User:Donald Trung/Mongol cash coins 2020 expansion

This page serves as "the editing history" of the English Wikipedia article "Yuan dynasty coinage" and is preserved for attribution.


 * https://en.m.wikipedia.org/wiki/Special:MobileDiff/946839702 ✅. --Donald Trung (talk) 18:51, 22 March 2020 (UTC).

Kublai Khan, Temür Khan, and Külüg Khan
Kublai Khan asked his advisor Liu Bingzhong about the usage of coinage and with a Yin and Yang metaphor Bingzhong claimed that no peace could exist within the Yuan empire if coins continued to be used and advised for the exclusive circulation of mulberry bark paper money.



The "Zhongtong Yuanbao" coins were only cast for 3 years (1260 to 1263), later coins would again be issued under Kublai Khan. In the year 1285 Liu Shirong advocated for the creation of the Zhiyuan Tongbao (至元通寶) cash coins, stating that the Mongols should follow the examples of the Han and Tang dynasties in the production of copper-alloy cash coins, and that these cash coins coins should circulate concurrent with silk and paper money.

For the entire duration of Temür Khan coins were only symbolically cast for religious institutions.

Under Külüg Khan the Yuan dynasty’s treasury was almost completely depleted which eventually led to Külüg Khan issuing a new banknote called the "Zhi Da Yin Jiaochao" which coincided with the minting of "Zhida Tongbao" (至大通寶) coins, which are the most commonly cast Yuan era coins. Under Külüg Khan the levels of inflation rose to 80% as the government kept printing more banknotes due, and in order to ensure the government’s control on the currency Külüg Khan banned the usage of silver and gold coins, and stopped the circulation of silver certificates in favour of fiat banknotes.

Ayurbarwada Buyantu Khan and the cessation of production
Ayurbarwada Buyantu Khan completely ceased the production of coinage in favour of paper money and made it illegal to use coins for payment, however the private production of copper cash coins would persist despite these laws. Because the khans of the Yuan dynasty were Buddhists they allowed Buddhist temples exemption from taxation and granted them special rights to cast bronze statues, and mint their own coins for religious offerings. During the periods that paper money was considered to be less valuable due to inflation people would use these "temple coins" as substitute currency.

Toghon Temür
For 40 years the production of coins would not continue until the reign of Toghon Temür who started casting coins again in 1350 alongside his new series of banknotes.

There are three basic typed of the Zhizheng Tongbao (至正通寶) cash coins. The first type has the Earthly Stem, indicating the year of casting, written in 'Phags-pa script located above the square centre hole situated on the reverse side of the cash coin. The Zhizheng Tongbao cash coins with the reverse inscription "寅" (meaning 1350 in the Chinese calendar) are the rarest because they began to be cast in November 1350 meaning that their production period was relatively short. This type was cast in values of 1 wén, 2 wén, and 3 wén.

The 'Phags-pa words on these Zhizheng Tongbao cash coins represent the following years:

In some variants reverse side of the cash coin displays the Mongol word for the Chinese cyclical calendar characters "Geng Yin" (庚寅, gēng yín) which indicates that these cash coins were cast somewhere in the year 1350. These cash coin typically have a diameter of 33 millimeters and tend to have a weight of about 8.8 grams.

The second type of Zhizheng Tongbao cash coins have the Earthly Stem of their year of production above the square centre hole on the reverse side, and the nominal value of the coin below the square centre hole. For example, the words "戌十" (xū shí) would denote that the cash coin was produced in the year 1358 and a nominal value of 10 wén. The denominations of this type were cast as 2 wén, 3 wén, 5 wén, and 10 wén.

The third type of Zhizheng Tongbao cash coins have the Earthly Stem representing the year of production above the square centre hole on the reverse side, and the nominal weight of the coin below the square centre hole. For example, the 'Phags-pa transliteration of the word "亥" (hài) written above the square centre hole to denote that the cash coin was produced in the year 1359 and the words "壹兩重" (yī liǎng chóng) inscribed below the square centre hole which translates as "1 tael in weight". In 1350 chancellor Toqto'a attempted to reform the Yuan dynasty currency by printing out more paper money and creating large "Zhizheng Zhibao" (至正之寶) copper coins which were inscribed with the promise that these coins were backed in paper money (權鈔, quán chāo, which translates as "equivalent to paper money"), and that these would be in equal value. The calligraphy of the inscription for the Zhizheng Zhibao cash coins was done by the court poet Zhou Boqi.

The reverse side of the Zhizheng Zhibao cash coins have to the left of the square centre hole the traditional Chinese characters indicating the nominal value of the coin, for example, the equivalent of wǔ qián (伍錢, "5 qián") in paper money.

As the paper money was made out of inferior material it would often be easily damaged making it hard for the people to redeem, this led to rebellions in the southern regions which in turn caused the Yuan government to quickly print more money in order to finance its military expenditures, leading to a decreasing confidence in paper money causing hyperinflation. Eventually entire carts filled with banknotes were needed for simple transactions leading to the people disregarding paper money as currency and eventually barter had become the norm as coinage had already become a rarity.

After the rise of the Ming dynasty the Northern Yuan dynasty didn't continue to produce cash coins. The usage of paper currency under the Yuan further inspired other countries such as Korea, Japan, and various states of India to develop their own paper currencies.

Standard reference templates

 * April 2020.






 * March 2020.






 * February 2020.






 * January 2020.






 * December 2019.





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