In the beginning they had a hollow handle, but during the Warring States period (475-221 BC), the handle was solid. Gold plates were used in the Chu State during the Warring States period (475- 221 BC).Ĭast coins in the shape of a spade were developed in the early days of metal coin usage, and were still used sporadically until the early part of the Han Dynasty. They were valued according to the weight and material quality. Smelted metal pieces without any denomination were used as money in commodity exchanges. Bronze replicas of cowries became the first Chinese cast coins. As natural cowries were limited in quantity, copies made of stone, other seashells, bone and bronze were also in circulation. Those from the Shang Dynasty (16th century BC to 11th century BC) usually had teeth on one side and a hole for stringing on the flat polished other side. The development of monetary system in ancient China has a close connection with the history of Chinese economy and politics.Ĭowry shells were used as the medium of exchange in the late Xia Dynasty (21st century BC). Silver coins appeared in the Daoguang reign of the Qing Dynasty, and minted silver and copper coins circulated in the Guangxu reign of the Qing Dynasty (1875-1908). By the Song Dynasty (960-1279) paper notes had appeared and were used in the Yuan, Ming and Qing Dynasties (1279-1911). They circulated continuously till the Ming and Qing Dynasties (1368-1911), though the style varied with time. After Qin's unification of the country in 221 BC, the round coin with a central square hole superseded all previous types of cast metal coins. Ever since then, the cast coins became the most common form of ancient Chinese currency. About 4000 years ago, Chinese coins were cast and widely circulated in the Zhou Dynasty. In the late Neolithic China, precious stones, brick tea, silk, and cowry shells were used as a medium of exchange.
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