• Home
  • Auction 33
  • 1732 YUAN: Zhi Zheng, 1341-1368, AE 5 qian (mace) (154g), ...
<< Lot 1731 - YUAN: Da Zuan, ...   Lot 1733 - MING: Da ... >>

Lot 1732 - Auction 33

YUAN: Zhi Zheng, 1341-1368, AE 5 ...
YUAN: Zhi Zheng, 1341-1368, AE 5 ...
Starting price:
2.200,00 USD (1.948,45 €)


YUAN: Zhi Zheng, 1341-1368, AE 5 qian (mace) (154g), H-19.124, 78mm, ji above, denomination wu qian ("five mace") to left, quan chao ("equivalent in paper money") to right, VF, RRR. In 1350 chancellor Toqto'a (Tuotuo) attempted to reform the Yuan dynasty currency by printing more paper money and creating large "Zhi Zheng Zhi Bao" copper coins which were inscribed with the promise that these coins were backed in paper money, and that these would be in equal value. 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 lead 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.


Bids

Lot status:
Auction closed