Cash (Chinese coin)

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Cash
China coin1.JPG
Replicas of various ancient to 19th century cast cash coins in various metals found in China, Korea and Japan.
Traditional Chinese 方孔錢
Simplified Chinese 方孔钱
Literal meaning square-holed money
Alternative Chinese name
Traditional Chinese 銅錢
Simplified Chinese 铜钱
Literal meaning copper money
Second alternative Chinese name
Traditional Chinese 銅幣
Simplified Chinese 铜币
Literal meaning copper currency

Cash was a type of coin of China and East Asia, used from the 4th century BC until the 20th century AD. Originally cast during the Warring States period, these coins continued to be used for the entirety of Imperial China as well as under Mongol, and Manchu rule. The last Chinese cash coins were cast in the first year of the Republic of China. Generally most cash coins were made from copper or bronze alloys, with iron, lead, and zinc coins occasionally used less often throughout Chinese history. Rare silver and gold cash coins were also produced. During most of their production, cash coins were cast but, during the late Qing dynasty, machine-struck cash coins began to be made.

In the modern era, these coins are considered to be Chinese “good luck coins”; they are hung on strings and round the necks of children, or over the beds of sick people. They hold a place in various superstitions, as well as Traditional Chinese medicine, and Feng shui. Currencies based on the Chinese cash coins include the Japanese mon, Korean mun, Ryukyuan mon, and Vietnamese văn.

Terminology[edit]

The English term "cash", referring to the coin, was derived from the Tamil kāsu, a South Indian monetary unit. The English word "cash", meaning "tangible currency", is an older and unrelated word, derived from the Middle French caisse.[1]

There are a variety of Chinese terms for cash coins, usually descriptive and most commonly including the character qian (Chinese: ; pinyin: qián) meaning "money". Chinese qián is also a weight-derived currency denomination in China; it is called "mace" in English.

Manufacture[edit]

Traditionally, Chinese cash coins were cast in copper, brass or iron. In the mid-19th century, the coins were made of 3 parts copper and 2 parts lead.[2][where?][page needed] Cast silver coins were periodically produced but are considerably more rare. Cast gold coins are also known to exist, but are extremely rare.

Early methods of casting[edit]

Bronze mould for minting Ban Liang coins, the mould was used during the Warring States period (475-221 BC) by the State of Qin, from an excavation in Qishan County, Baoji, Shaanxi province.

During the Zhou dynasty period, the method for casting coins consisted of first carving the individual characters of a coin together with its general outline into a mould made of either soapstone or clay. As this was done without using a prior model, early Chinese coinage has tends to look very diverse, even from the same series of coins as these all were cast from different (and unrelated) moulds bearing the same inscriptions.

During the Han dynasty, in order to gain consistency in the circulating coinage, master bronze moulds were manufactured to be used as the basis for other cash moulds.[3]

Later methods of manufacture[edit]

A Japanese "coin tree" used to make Japanese Tenpō Tsūhō (天保通寳) cash coins, these coins were manufactured with the same method as Chinese cash coins.

From the 6th century AD and later, new "mother coins" (mǔ qián ) were cast as the basis for coin production. These were engraved in generally easily manipulated metals such as tin. Coins were cast in sand moulds. Fine wet sand was placed in rectangles made from pear wood, and small amounts of coal and charcoal dust were added to refine the process, acting as a flux. The mother coins were placed on the sand, and another pear wood frame would be placed upon the mother coin. The molten metal was poured in through a separate entrance formed by placing a rod in the mould. This process would be repeated 15 times and then molten metal would be poured in. After the metal had cooled down, the "coin tree" (qián shù ) was extracted from the mould (which would be destroyed due to the process). The coins would be taken off the tree and placed on long square rods to have their edges rounded off, often for hundreds of coins simultaneously. After this process, the coins were strung together and brought into circulation.

From 1730 during the Qing dynasty, the mother coins were no longer carved separately but derived from "ancestor coins" (zǔ qián ). Eventually this resulted in greater uniformity among cast Chinese coinage from that period onwards. A single ancestor coin would be used to produce tens of thousands of mother coins; each of these in turn was used to manufacture tens of thousands of cash coins.[4][5][6]

Machine-struck coinage[edit]

Machine-struck cash coins issued under the Guangxu Emperor in Guangzhou, Guangdong.

During the late Qing dynasty under the reign of the Guangxu Emperor in the mid 19th century the first machine-stuck cash coins were produced, from 1889 a machine operated mint in Guangzhou, Guangdong province opened where the majority of the machine-struck cash would be produced. Machine-made cash coins tend to be made from brass rather than from more pure copper as cast coins often were, and later the copper content of the alloy decreased while cheaper metals like lead and tin were used in larger quantities giving the coins a yellowish tint. Another effect of the contemporary copper shortages was that the Qing government started importing Korean 5 fun coins and overstruck them with "10 cash".[7][8]

History[edit]

Cash coins minted between 330 BC and 1912 AD.

Chinese cash coins originated from the barter of farming tools and agricultural surpluses.[citation needed] Around 1200 BC, smaller token spades, hoes, and knives began to be used to conduct smaller exchanges with the tokens later melted down to produce real farm implements. These tokens came to be used as media of exchange themselves and were known as spade money and knife money.[9]

As standard circular coins were developed following the unification of China by Qin Shi Huang, the most common formation was the round-shaped copper coin with a square or circular hole in the center, the prototypical cash. The hole enabled the coins to be strung together to create higher denominations, as was frequently done due to the coin's low value. The number of coins in a string of cash (Chinese: 一貫錢; pinyin: yīguànqián) varied over time and place but was nominally 1000. A string of 1000 cash was supposed to be equal in value to one tael of pure silver.[9] A string of cash was divided into ten sections of 100 cash each. Local custom allowed the person who put the string together to take a cash or a few from each hundred for his effort (one, two, three or even four in some places). Thus an ounce of silver could exchange for 970 in one city and 990 in the next. In some places in the North of China short of currency the custom counted one cash as two and fewer than 500 cash would be exchanged for an ounce of silver. A string of cash weighed over ten pounds and was generally carried over the shoulder. (See Hosea Morse's "Trade and Administration of the Chinese Empire" p. 130 ff.) Paper money equivalents known as flying cash sometimes showed pictures of the appropriate number of cash coins strung together.[10]

The Koreans,[11] Japanese,[12] Ryukyuans,[13] and Vietnamese[14][15] all cast their own copper cash in the latter part of the second millennium similar to those used by China.[16]

The last Chinese cash coins were struck, not cast, in the reign of the Qing Xuantong Emperor shortly before the fall of the Empire in 1911. Though even after the fall of the Qing dynasty did the production briefly continue under the Republic of China with the "Min Guo Tong Bao" (民國通寶) coins in 1912, and under Yuan Shikai's Empire of China with the "Hong Xiang Tong Bao" (洪憲通寶) series in 1916.[17] The coin continued to be used unofficially in China until the mid-20th century. Vietnamese cash continued to be cast up until 1945.[18]

Cash coins in the early Republic of China[edit]

A Mínguó Tōngbǎo (民國通寶), these were the last cash coins cast in Chinese history.

During the early Republican era a few more cash coins were locally produced until they were finally phased out in favour of the new yuan.

These coins are:[19][20]

Inscription
(Obverse,
Reverse)
Traditional Chinese
(Obverse,
Reverse)
Simplified Chinese
(Obverse,
Reverse)
Issuing office
Fujian Tong Bao,
1 cash
福建通寶,
一文
福建通宝,
一文
Fujian province
Fujian Tong Bao,
2 cash
福建通寶,
二文
福建通宝,
二文
Fujian province
Min Guo Tong Bao,
Dongchuan
民國通寶,
東川
民国通宝,
东川
Dongchuan, Yunnan
Min Guo Tong Bao,
10 cash
民國通寶,
當十
民国通宝,
当十
Dongchuan, Yunnan

Trial coins with Fujian Sheng Zao (Chinese: 福建省造), Min Sheng Tong Yong (traditional Chinese: 閩省通用; simplified Chinese: 闽省通用), and a Fujian Tong Bao with a reverse inscribed with Er Wen Sheng Zao (Chinese: 二文省造) were also cast, but never circulated.[21]

Inscriptions and denominations[edit]

Three different cash coins from the Northern Song dynasty, the first coin reads clockwise while the others read top-bottom-right-left, the first and second coins are written in Regular script while the third coin is written in Seal script.

The earliest standard denominations of cash coins were theoretically based on the weight of the coin and were as follows:

  • 100 grains of millet = 1 zhu (Chinese: ; pinyin: zhū)
  • 24 zhū = 1 tael (Chinese: ; pinyin: liǎng)

The most common denominations were the ½ tael (Chinese: 半兩; pinyin: bànliǎng) and the 5 zhū (Chinese: 五銖; pinyin: wǔ zhū) coins, the latter being the most common coin denomination in Chinese history.[9]

In AD 666, a new system of weights came into effect with the zhū being replaced by the mace (qián) with 10 mace equal to one tael. The mace denominations were so ubiquitous that the Chinese word qián came to be used as the generic word for money.[9] Other traditional Chinese units of measurement, smaller subdivisions of the tael, were also used as currency denominations for cash coins.

A great majority of cash coins had no denomination specifically designated but instead carried the issuing emperor's era name and a phrases such as tongbao (Chinese: 通寶; pinyin: tōngbǎo; literally: "general currency") or zhongbao (Chinese: 重寶; pinyin: zhòngbǎo; literally: "heavy currency").

Coins of the Qing Dynasty (1644–1911) generally carried the era name of the emperor and tongbao on the obverse and the mint location where the coins were cast in Manchu and Chinese on the reverse.[22]

Cash coins and superstitions[edit]

A cash coin used as part of the logo of Agriseco in Hanoi, Vietnam.

In Imperial China cash coins were used for fortune-telling, this would be done by first lighting incense to the effigy of a Chinese deity, and then placing 3 cash coins into a tortoise shell. The process involved the fortune teller counting how many coins lay on their obverse or reverse sides, and how these coins scratched the shell, this process was repeated 3 times. After this a very intricate system based on the position of the coins with Bagua, and the Five elements would be used for divination, the Tang dynasty Kai Yuan Tong Bao (開元通寶) coin was the most preferred coin for this usage. Contemporary Chinese intelligentsia found the usage of cash coins for fortune-telling to be superior than any other methods.[23][24] Other than fortune-telling cash coins were also believed to hold “curing powers” in Traditional Chinese medicine, one method of using cash coins for “medicine” was boiling them in water and let the patient consume that water. Other than that they were also used as “medical tools” particularly in the guāshā (刮痧) method, which was used against diseases like Cholera; this required the healer to scrape the patient’s skin with cash coins as they believed that the pathogen remained stagnant underneath the patient’s skin in a process called “coining”. Though in general any cash coin could be used in traditional Chinese medicine but the Kai Yuan Tong Bao was most preferred, and preferences were given for some specific coins for certain ailments E.g. the Zhou Yuan Tong Bao (周元通寶) was used against miscarriages.[25][26][27]

In modern times though no longer issued by any government, cash coins are believed to be symbols of good fortune and are considered “Good luck charms”, for this reason some businesses hang Chinese cash coins as store signs for “good luck” and to allegedly avoid misfortune similar to how images of Caishen (the Chinese God of Wealth) are used.[28] Cash coins also hold a central place in Feng shui where they are associated an abundance of resources, personal wealth, money, and prosperity. Cash coins are featured on the logos of the Bank of China, and the China Construction Bank.[29][30]

Stringing of cash coins[edit]

A Sichuanese man carrying 13,000 cash coins in strings on his shoulders.

The square hole in the middle of cash coins served to allow for them to be strung together in strings of 1000 cash coins and valued at 1 tael of silver (but variants of regional standards as low as 500 cash coins per string also existed),[31] 1000 coins strung together were referred to as a chuàn (串) or diào (吊) and were accepted by traders and merchants per string because counting the individual coins would cost too much time. Because the strings were often accepted without being checked for damaged coins and coins of inferior quality and copper-allots these strings would eventually be accepted based on their nominal value rather than their weight, this system is comparable to that of a fiat currency. Because the counting and stringing together of cash coins was such a time consuming task people known as qiánpù (錢鋪) would string cash coins together in strings of 100 coins of which ten wouldn form a single chuàn. The qiánpù would receive payment for their services in the form of taking a few cash coins from every string they composed, because of this a chuàn was more likely to consist of 990 coins rather than 1000 coins and because the profession of qiánpù had become a universally accepted practice these chuàns were often still nominally valued at 1000 cash coins.[32][33] The number of coins in a single string was locally determined as in one district a string could consist of 980 cash coins, while in another district this could only be 965 cash coins, these numbers were based on the local salaries of the qiánpù.[34][35][36] During the Qing dynasty the qiánpù would often search for older and rarer coins to sell these to coin collectors at a higher price.

Prior to the Song dynasty strings of cash coins were called guàn (貫), suǒ (索), or mín (緡), while during the Ming and Qing dynasties they were called chuàn (串) or diào (吊).[37][38]

See also[edit]

Currencies based on the Chinese cash[edit]

References[edit]

  1. ^ Douglas Harper (2001). "Online Etymology Dictionary". Retrieved 2007-04-11. 
  2. ^ Roberts, Edmund. (1837) Embassy to the Eastern Courts of Cochin-China, Siam, and Muscat: In the U.S. Sloop-of-war Peacock, Harper & Brothers. Harvard University archive. No ISBN Digitized.
  3. ^ "The Production Process of Older Chinese Coins。". Admin for Chinesecoins.com (Treasures & Investments). 3 June 2014. Retrieved 6 July 2017. 
  4. ^ 2 Click COINS How were ancient Chinese coins made. Retrieved: 29 June 2017.
  5. ^ "Qi Xiang Tong Bao Engraved Mother Coin". Gary Ashkenazy / גארי אשכנזי (Primaltrek – a journey through Chinese culture). 24 December 2014. Retrieved 29 June 2017. 
  6. ^ "Chinese Money Trees. - 搖錢樹。". Gary Ashkenazy / גארי אשכנזי (Primaltrek – a journey through Chinese culture). 16 November 2016. Retrieved 1 July 2017. 
  7. ^ G.X. Series Chinese Provinces that issued machine struck coins, from 1900s to 1950s. Last updated: 10 June 2012. Retrieved: 29 June 2017.
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  9. ^ a b c d Fredrik Schöth. Chinese Currency. Revised and edited by Virgil Hancock. Iola, WI, USA: Krause, 1965.
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  11. ^ "[Weekender] Korean currency evolves over millennium". Chang Joowon (The Korean Herald – English Edition). 28 August 2015. Retrieved 23 July 2017. 
  12. ^ David Hartill (2011). Early Japanese Coins. New Generation Publishing. ISBN 0755213653
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  14. ^ ED. TODA. (1882) ANNAM and its minor currency.
  15. ^ Dr. R. Allan Barker. (2004) The historical Cash Coins of Viet Nam. ISBN 981-05-2300-9
  16. ^ Dr. Ting Fu-Pao A catalog of Ancient Chinese Coins (including Japan, Korea & Annan) Published: 1 January 1990.
  17. ^ Numis' Numismatic Encyclopedia. A reference list of 5000 years of Chinese coinage. (Numista) Written on December 9, 2012 • Last edit: June 13, 2013 Retrieved: 16 June 2017
  18. ^ "Sapeque and Sapeque-Like Coins in Cochinchina and Indochina (交趾支那和印度支那穿孔錢幣)". Howard A. Daniel III (The Journal of East Asian Numismatics – Second issue). 20 april 2016. Retrieved 10 december 2017.  Check date values in: |access-date=, |date= (help)
  19. ^ The Eduard Kann Collection of Chinese Coins and Odd & Curious Monies, H.D. Gibbs Collection, Part V, and Gold, Silver Rarities of the World: To be Offered at Public Auction Sale, June 18, 19, 20, 1971 Publisher: Schulman Coin & Mint, Inc. Published: 1971
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  22. ^ The Collection Museum An introduction and identification guide to Chinese Qing-dynasty coins. by Qin Cao. Retrieved: 02 July 2017.
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  30. ^ Espos.de (Epical, Prolific, Smart Open Source of Divine Enjoyment) Red Bank of China Logo. Retrieved: 22 July 2017.
  31. ^ Department of Economic History - London School of Economics Money and Monetary System in China in 19-20th Century: an Overview by Debin Ma. Economic History Department London School of Economics Dec. 2011 Chapter contribution to Encyclopedia of Financial Globalization edited by Charles Calomiris and Larry Neal forthcoming with Elsevier. Published: January 2012. Retrieved: 05 February 2018.
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  33. ^ Village Life in China: A study in sociology door Arthur H. Smith, D.D. New York, Chicago, Toronto. Uitgever: Fleming H. Revell Company (Publishers of Evangelical Literature) Auteursrecht: 1899 door Fleming H. Revell Company
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  36. ^ Guttag’s Foreign Currency and Exchange Guide (1921) Uitgegever: Guttag Bros. Numismatics New York, U.S.A. Accessed: 3 October 2017.
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  38. ^ The Mahjong Tile Set From Cards to Tiles: The Origin of Mahjong(g)’s Earliest Suit Names by Michael Stanwick and Hongbing Xu. Retrieved: 05 February 2018.

 This article incorporates public domain material from the Library of Congress Country Studies website http://lcweb2.loc.gov/frd/cs/.

External links[edit]