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The History of Han says: "When Qin united the world, it made two sorts of currency: that of yellow gold, which was called yì and was the currency of the higher class; and that of bronze, which was similar in quality to the coins of Zhou, but bore an inscription saying Half Ounce, and was equal in weight to its inscription." [citation needed]
Despite the government preferring paper money over copper-alloy cash coins, the Chinese market had a high demand for them, this demand would stimulate an overproduction of forgeries that inundated the markets of Ming China, often these forged cash coins were cast in such miserable quality that a single real Zhiqian could buy 300 fake ones. [11]
A Guide Book of United States Coins (the Red Book) is the longest running price guide for U.S. coins. Across all formats, 24 million copies have been sold. [2] The first edition, dated 1947, went on sale in November 1946. Except for a one-year hiatus in 1950, publication has continued to the present.
The world's first paper money, issued in China between the 7th and 15th centuries, was denominated in wén. The notes carried depictions of coins, sometimes in strings of ten. The notes of the Yuan dynasty suffered from hyperinflation due to over production without sufficient coins to back them and were withdrawn. [10]
Ying Yuan (Chinese: 郢 爰; pinyin: yǐng yuán) were stamped blocks of gold bullion. This was an early form of currency that could be considered a precursor to gold coins. [1] [self-published source] They were issued by the ancient Chinese state of Chu during the Warring States period between the 400s and late 200s BCE. [1]
Standard Catalog of World Gold Coins: With Platinum and Palladium Issues: 1601–present, 6th Edition, publication date 2009, Krause Publications, ISBN 978-1-4402-0424-1 Digital copy available separately. Unusual World Coins, 6th Edition, publication date 2011, Krause Publications, ISBN 978-1-4402-1702-9 Digital copy available separately.
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Under the Ming dynasty the policy of predominantly using paper money (such as the Da Ming Baochao banknotes) which was started under the Mongols would continue until 1505 when Spanish dollars and other silver coins became the dominant currency. Native production of cash coins had ceased between 1375 and 1376, from 1387 until 1379, from 1393 (as ...