No one is quite sure when money was invented in China. This is because the first emperor of the unified Chinese Empire (founded in 221 B.C.), Qin Shi Huang (259 B.C. – 210 B.C.), destroyed as many records of earlier Chinese kingdoms as he could to ensure the stability of his new empire. With the establishment of a unified empire under the Qin dynasty in 221 B.C., Chinese money settled on a single form — the classic round pan liang (or ban liang: “½ ounce”) coin with a square hole in the middle. These bronze coins incorporated a two-character legend that identified the weight of the coin.
In 118 B.C. the Han emperor Wu Di issued a new form of coin known as wu zhu (“5 grain”), which incorporated a raised rim on the outer and inner edges of the coin. This coin style became standard for the next 700 years.
The Tang dynasty in A.D. 621 introduced the classic form of Chinese coin with four characters that identified the date of issue and its intent as a circulating currency. This format became fixed in Chinese coinage until the end of the empire with only minor variations between dynasties.
Chinese Dynasties
|
DYNASTY |
DATES |
HIGHLIGHTS |
|
Zhou Dynasty |
c. 1122 – 221 B.C. |
Coinage first appears • Cast-bronze imitations of knives, cowries and spades • Shaped coins at dynasty’s end |
|
Qin Dynasty |
221 – 207 B.C. |
Ban liang coins, featuring square hole in center, introduced. |
|
Han Dynasty |
206 B.C. – A.D. 220 |
One of the greatest Chinese dynasties • Western (206 B.C. – A.D. 6) • Wang Mang interregnum (A.D. 6 – 22) • Eastern Han dynasties (A.D. 22 – 220) |
|
Three Kingdoms, and Northern and Southern Dynasties |
220 – 618 |
The Unified Chinese Empire was divided among three competing kingdoms that further fragmented after 280 into a series of Northern and Southern Chinese dynasties. Reign titles (nien-hao) were introduced on coins. |
|
Sui Dynasty |
581 – 618 |
A short-lived dynasty that reunited China. |
|
Tang Dynasty |
618 – 907 |
Considered the Chinese “Golden Age.” Chinese culture and coinage spread throughout the Far East. Tong bao (“circulating treasure”) coinage and use of mint names introduced. |
|
Five Dynasties and |
907 – 960 |
Characterized by Chinese political fragmentation and the rise of short-lived dynasties competing for control of a unified empire. |
|
Song Dynasty |
960 – 1279 |
New styles of calligraphy introduced on coinage • Northern Song (960 – 1126) • Southern Song (1127 – 1279) — introduced use of regnal years on some coins |
|
Yuan Dynasty |
1271 – 1368 |
Founded by the Mongols under Kublai Khan. |
|
Ming Dynasty |
1368 – 1644 |
Notable for China’s wealth and the opening of direct trade with Portugal and other European nations. |
|
Qing Dynasty |
1644 – 1911 |
The last Chinese dynasty, founded by the Manchu from the region of Manchuria. |
Did You Know?
No one is quite sure when money was invented in China. This is because the first emperor of the unified Chinese Empire (founded in 221 B.C.), Qin Shi Huang (259 B.C. – 210 B.C.), destroyed as many records of earlier Chinese kingdoms as he could to ensure the stability of his new empire.
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