Coinage of Asia
Encyclopedia
The earliest coinage of Asia is also the oldest coinage of the world. Coins were invented several times independently of each other. The earliest coins from the Mediterranean region are from the kingdom of Lydia
Lydia
Lydia was an Iron Age kingdom of western Asia Minor located generally east of ancient Ionia in the modern Turkish provinces of Manisa and inland İzmir. Its population spoke an Anatolian language known as Lydian....

, and are now dated ca. 600 BCE. The dating of the earliest coins of China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...

 and India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...

 is difficult and the subject of debate. Nevertheless, the first coins of China are at least as old as the earliest Lydian coins and possibly older, while the earliest coins of India seems to have appeared at a later stage.

Pre-modern Chinese coins were always cast bronze or brass issues. This concept was later adopted by Japan, Korea and Annam (Vietnam), and also influenced regions in South-East Asia.

The Lydian coins consisted of discs or lumps of electrum
Electrum
Electrum is a naturally occurring alloy of gold and silver, with trace amounts of copper and other metals. It has also been produced artificially. The ancient Greeks called it 'gold' or 'white gold', as opposed to 'refined gold'. Its color ranges from pale to bright yellow, depending on the...

 (a natural gold/silver alloy), and were stamped on two sides with dies. This concept spread rapidly to neighbouring Greek city states in Asia Minor
Asia Minor
Asia Minor is a geographical location at the westernmost protrusion of Asia, also called Anatolia, and corresponds to the western two thirds of the Asian part of Turkey...

 and across the Aegean Sea
Aegean Sea
The Aegean Sea[p] is an elongated embayment of the Mediterranean Sea located between the southern Balkan and Anatolian peninsulas, i.e., between the mainlands of Greece and Turkey. In the north, it is connected to the Marmara Sea and Black Sea by the Dardanelles and Bosporus...

, and eventually throughout the Mediterranean. When Lydia was conquered by Achaemenid Persia
Achaemenid Empire
The Achaemenid Empire , sometimes known as First Persian Empire and/or Persian Empire, was founded in the 6th century BCE by Cyrus the Great who overthrew the Median confederation...

, the production of Lydian coins continued in the guise of silver Siglos and gold Darics. Other parts of Persia only began to mint coins at the time of Alexander the Great's conquest.

Coinage of India
Indian coinage
Coinage of India, issued by Imperial dynasties and smaller middle kingdoms of India began during the 1st millennium BC, and consisted mainly of copper and silver coins in its initial stage. Scholars remain divided over the origins of Indian coinage...

 began in the 7th century BCE, as small native states known as the Mahajanapadas
Mahajanapadas
Mahājanapadas , literally "great realms", were ancient Indian kingdoms or countries...

 began to mint coins of silver. The concept of coinage, and many design elements, spread across the Indian subcontinent within centuries. India subsequently absorbed and modified numerous Western influences, including Greek, Roman, Arabic and Persian.

China

Some time around the 7th century BCE, coins shaped like utensils emerged in China. In most regions, spade-shaped coins were issued, while knife-shaped coins were issued in the North-East. In the state of Chu
Chu (state)
The State of Chu was a Zhou Dynasty vassal state in present-day central and southern China during the Spring and Autumn period and Warring States Period . Its ruling house had the surname Nai , and clan name Yan , later evolved to surname Mi , and clan name Xiong...

 (in Southern China), small oval bronze pieces were issued. Numismatists and archaeologists believe that the minting of coins was not organized by the central authority, i.e. the royal court of Zhou
Zhou Dynasty
The Zhou Dynasty was a Chinese dynasty that followed the Shang Dynasty and preceded the Qin Dynasty. Although the Zhou Dynasty lasted longer than any other dynasty in Chinese history, the actual political and military control of China by the Ji family lasted only until 771 BC, a period known as...

. The spade and knife coins underwent a number of changes in size, shape and inscriptions.

Cowrie shells are found in archaeological excavations that date back to the Shang
Shang Dynasty
The Shang Dynasty or Yin Dynasty was, according to traditional sources, the second Chinese dynasty, after the Xia. They ruled in the northeastern regions of the area known as "China proper" in the Yellow River valley...

 era (2nd millennium BCE). These might have been used as currency, but there is not agreement as to whether they did serve a currency purpose or not. Various other bronze artifacts have been described as money (e.g. "bridge money"); these are now believed to be various types of ornaments, not related to currency.

During the 4th century BCE, a new type of coins, the "ban liang" type, was introduced in the Western state of Qin
Qin (state)
The State of Qin was a Chinese feudal state that existed during the Spring and Autumn and Warring States Periods of Chinese history...

. The ban liang coins were round, cast bronze coins with a hole in the center, inscribed "ban liang", or half liang (a weight unit). Qin eventually conquered the other states of China and replaced the defunct Zhou Dynasty with the Qin Dynasty
Qin Dynasty
The Qin Dynasty was the first imperial dynasty of China, lasting from 221 to 207 BC. The Qin state derived its name from its heartland of Qin, in modern-day Shaanxi. The strength of the Qin state was greatly increased by the legalist reforms of Shang Yang in the 4th century BC, during the Warring...

 in 221 BCE. The monetary systems of China were now standardized, based on the Qin model, and knife and spade coins were replaced with ban liang coins. The round, cast base metal coins of the Far East are known as cash coins
Cash (Chinese coin)
A cash was a type of coin of China and East Asia from the 2nd century BC until the AD 20th century. The photograph to the right shows replicas of various ancient to 19th century cast coins in various metals found in China and Japan.-Terminology:...

. The cash coins were customarily strung together with hempen threads into standard-size strings of cash, representing a fixed value.

In 118 BCE, the ban liang coins were replaced by another type, the "wu zhu" type, that was inscribed "wu zhu", or five zhu (another weight unit). These were minted until 621 CE, shortly after the establishment of the Tang Dynasty
Tang Dynasty
The Tang Dynasty was an imperial dynasty of China preceded by the Sui Dynasty and followed by the Five Dynasties and Ten Kingdoms Period. It was founded by the Li family, who seized power during the decline and collapse of the Sui Empire...

. Being minted for almost a thousand years combined, the ban liang and wu zhu coins come in a great number of varieties. The uncovering of the history of these varieties is an ongoing process.

The coins issued during the Tang Dynasty
Tang Dynasty
The Tang Dynasty was an imperial dynasty of China preceded by the Sui Dynasty and followed by the Five Dynasties and Ten Kingdoms Period. It was founded by the Li family, who seized power during the decline and collapse of the Sui Empire...

 were unusual in their day, in the sense that the obverse inscription consisted of four characters instead of two. The "Kai Yuan tong bao" coins were minted throughout the Tang era, and subsequent Chinese coin issues (up to around 1900) were based on this precedent.

During the Song
Song Dynasty
The Song Dynasty was a ruling dynasty in China between 960 and 1279; it succeeded the Five Dynasties and Ten Kingdoms Period, and was followed by the Yuan Dynasty. It was the first government in world history to issue banknotes or paper money, and the first Chinese government to establish a...

, Ming
Ming Dynasty
The Ming Dynasty, also Empire of the Great Ming, was the ruling dynasty of China from 1368 to 1644, following the collapse of the Mongol-led Yuan Dynasty. The Ming, "one of the greatest eras of orderly government and social stability in human history", was the last dynasty in China ruled by ethnic...

 and Qing
Qing Dynasty
The Qing Dynasty was the last dynasty of China, ruling from 1644 to 1912 with a brief, abortive restoration in 1917. It was preceded by the Ming Dynasty and followed by the Republic of China....

 dynasties, the first two (out of four) characters of the obverse inscription represented the name of the current regnal era, thereby indicating the emperor under which the individual coin was minted. A system of discrete caligraphical variation was employed, thereby facilitating identification of the mint that was responsible for minting any given coin. During the Song
Song Dynasty
The Song Dynasty was a ruling dynasty in China between 960 and 1279; it succeeded the Five Dynasties and Ten Kingdoms Period, and was followed by the Yuan Dynasty. It was the first government in world history to issue banknotes or paper money, and the first Chinese government to establish a...

 and Ming
Ming Dynasty
The Ming Dynasty, also Empire of the Great Ming, was the ruling dynasty of China from 1368 to 1644, following the collapse of the Mongol-led Yuan Dynasty. The Ming, "one of the greatest eras of orderly government and social stability in human history", was the last dynasty in China ruled by ethnic...

 dynasties, the reverse was often blank, although some carry the regnal year of the emperor or some other inscription. During the Qing Dynasty
Qing Dynasty
The Qing Dynasty was the last dynasty of China, ruling from 1644 to 1912 with a brief, abortive restoration in 1917. It was preceded by the Ming Dynasty and followed by the Republic of China....

, the reverse explicitly indicated the mint, initially in Chinese, but later in Manchu
Manchu
The Manchu people or Man are an ethnic minority of China who originated in Manchuria . During their rise in the 17th century, with the help of the Ming dynasty rebels , they came to power in China and founded the Qing Dynasty, which ruled China until the Xinhai Revolution of 1911, which...

. Unlike the Song
Song Dynasty
The Song Dynasty was a ruling dynasty in China between 960 and 1279; it succeeded the Five Dynasties and Ten Kingdoms Period, and was followed by the Yuan Dynasty. It was the first government in world history to issue banknotes or paper money, and the first Chinese government to establish a...

 and Ming
Ming Dynasty
The Ming Dynasty, also Empire of the Great Ming, was the ruling dynasty of China from 1368 to 1644, following the collapse of the Mongol-led Yuan Dynasty. The Ming, "one of the greatest eras of orderly government and social stability in human history", was the last dynasty in China ruled by ethnic...

 dynasties, Qing Dynasty
Qing Dynasty
The Qing Dynasty was the last dynasty of China, ruling from 1644 to 1912 with a brief, abortive restoration in 1917. It was preceded by the Ming Dynasty and followed by the Republic of China....

 coins come in one denomination only until the mid 19th century. During the Taiping Rebellion
Taiping Rebellion
The Taiping Rebellion was a widespread civil war in southern China from 1850 to 1864, led by heterodox Christian convert Hong Xiuquan, who, having received visions, maintained that he was the younger brother of Jesus Christ, against the ruling Manchu-led Qing Dynasty...

, inflated large size coins (e.g. coins representing 50 or 100 cash/units) were minted.

During the colonial era, foreign silver coins entered China 1. Traditionally, China did not have a silver coinage, although silver was stored in the shape of silver bars (so-called sycee
Sycee
A sycee was a type of silver or gold ingot currency used in China until the 20th century. The name derives from the Cantonese words meaning "fine silk"...

s). As the Chinese harbours were forcibly opened for foreign trade by the colonial powers, foreign silver coins poured into China, and profoundly altered the monetary system and modes of economic transaction. The production of traditional cash coins ceased, and various provinces began, during the 1880s, to acquire modern equipment, capable of minting modern Western style coinage, akin to the coinage that was being introduced through foreign trade. This put the traditional cash coinage to rest, while the modern coinage of China began.

Japan

Coinage in Japan initially consisted of Chinese coins that arrived in Japan through trade. It is not clear when the influx of Chinese coins began. In the late 7th century CE, domestically minted coins commenced. Such domestically minted coins, modelled on the Tang Dynasty
Tang Dynasty
The Tang Dynasty was an imperial dynasty of China preceded by the Sui Dynasty and followed by the Five Dynasties and Ten Kingdoms Period. It was founded by the Li family, who seized power during the decline and collapse of the Sui Empire...

 precedent, continued to be emitted until 958. These coins were minted in comparatively small numbers and amounted only to a supplement, not an alternative, to the imported coins. For centuries to come, there was no domestic Japanese coinage, except some interimistically manufactured reproductions of pre-existing coin types. Cash coins were known as "mon" in Japanese
Japanese language
is a language spoken by over 130 million people in Japan and in Japanese emigrant communities. It is a member of the Japonic language family, which has a number of proposed relationships with other languages, none of which has gained wide acceptance among historical linguists .Japanese is an...

.

Only with the unification of Japan achieved by Oda Nobunaga
Oda Nobunaga
was the initiator of the unification of Japan under the shogunate in the late 16th century, which ruled Japan until the Meiji Restoration in 1868. He was also a major daimyo during the Sengoku period of Japanese history. His opus was continued, completed and finalized by his successors Toyotomi...

, Toyotomi Hideyoshi
Toyotomi Hideyoshi
was a daimyo warrior, general and politician of the Sengoku period. He unified the political factions of Japan. He succeeded his former liege lord, Oda Nobunaga, and brought an end to the Sengoku period. The period of his rule is often called the Momoyama period, named after Hideyoshi's castle...

 and Tokugawa Ieyasu
Tokugawa Ieyasu
 was the founder and first shogun of the Tokugawa shogunate of Japan , which ruled from the Battle of Sekigahara  in 1600 until the Meiji Restoration in 1868. Ieyasu seized power in 1600, received appointment as shogun in 1603, abdicated from office in 1605, but...

 (late 16th, early 17th centuries), a proud domestic coinage was revived. Base metal coins were modelled on the Chinese cash type, while various types of standardized silver and gold bars served as precious metal currency. Such coins continued to be minted until the 1860s, when the Shogunate was abolished and a series of modernizing reforms began, including modernization of Japanese currency.

Korea

Issues based on the Chinese cash
Cash (Chinese coin)
A cash was a type of coin of China and East Asia from the 2nd century BC until the AD 20th century. The photograph to the right shows replicas of various ancient to 19th century cast coins in various metals found in China and Japan.-Terminology:...

 were issued from 1888–1892 of 1 hwan = 1000 mun
Korean mun
The mun was introduced as the main currency of Korea in 1633 and stayed in use until 1892. It resembled and was derived from the Chinese wen . Coins denominated in mun were cast in copper or bronze and were round with square holes. In 1888, coins were struck in small numbers denominated in mun and...

 or cash. Replaced in 1892 with 1 hwan = 5 yang
Korean yang
The yang was the currency of Korea between 1892 and 1902. It was subdivided into 10 jeon , 100 bun and 5 yang = 1 hwan .-Etymology:The word yang is a cognate of the Chinese "tael"...

.

Annam

Early Vietnamese coins were based on the Chinese cash coinage, mostly imitations at first then issued with Chinese characters but in Vietnamese.

Indonesia/Malaysia region

These coins were mainly issued by the Chinese diaspora and Islamic sultanates all over the Indonesia
Indonesia
Indonesia , officially the Republic of Indonesia , is a country in Southeast Asia and Oceania. Indonesia is an archipelago comprising approximately 13,000 islands. It has 33 provinces with over 238 million people, and is the world's fourth most populous country. Indonesia is a republic, with an...

n archipelago
Archipelago
An archipelago , sometimes called an island group, is a chain or cluster of islands. The word archipelago is derived from the Greek ἄρχι- – arkhi- and πέλαγος – pélagos through the Italian arcipelago...

 who minted coins based mainly on the Chinese cash coinage
Cash (Chinese coin)
A cash was a type of coin of China and East Asia from the 2nd century BC until the AD 20th century. The photograph to the right shows replicas of various ancient to 19th century cast coins in various metals found in China and Japan.-Terminology:...

.

India

The first Indian coins were either round, square or long sticks of silver with punch marks issued under various kingdoms starting from around 600 BCE onwards. Issuers included Kashi
Kingdom of Kashi
The Kingdom of Kashi was an independent Bhumihar Brahmin state until 1194, became a British territory in 1775, and became a state in 1911. It is the site of Ramnagar Fort and its museum, which are the repository of the history of the kings of Benares and since the 18th century has been the home of...

, Kosala
Kosala
Kosala was an ancient Indian region, corresponding roughly in area with the region of Awadh in present day Uttar Pradesh. According to the Buddhist text Anguttara Nikaya and the Jaina text, the Bhagavati Sutra, Kosala was one of the Solasa Mahajanapadas in 6th century BCE and its cultural and...

, the Magadha Empire
Magadha
Magadha formed one of the sixteen Mahājanapadas or kingdoms in ancient India. The core of the kingdom was the area of Bihar south of the Ganga; its first capital was Rajagriha then Pataliputra...

, Kuru, Panchala
Panchala
Panchala is an ancient region of northern India, which corresponds to the geographical area around the Ganges River and Yamuna River, the upper Gangetic plain in particular. This would encompass the modern-day states of Uttarakhand and Uttar Pradesh. During the ancient times, it was home to a...

, Taxila
Taxila
Taxila is a Tehsil in the Rawalpindi District of Punjab province of Pakistan. It is an important archaeological site.Taxila is situated about northwest of Islamabad Capital Territory and Rawalpindi in Panjab; just off the Grand Trunk Road...

, Gandhara
Gandhara
Gandhāra , is the name of an ancient kingdom , located in northern Pakistan and eastern Afghanistan. Gandhara was located mainly in the vale of Peshawar, the Potohar plateau and on the Kabul River...

, Kamboja, Avanti
Avanti (India)
Avanti was an ancient Indian janapada , roughly corresponded to the present day Malwa region. According to the Buddhist text, the Anguttara Nikaya, Avanti was one of the solasa mahajanapadas of the 6th century BCE...

 in the Narbada Valley, Saurashtra Peninsula, and the Eastern Deccan. The first coins issued by a unified Indian empire was from the Maurya Empire
Maurya Empire
The Maurya Empire was a geographically extensive Iron Age historical power in ancient India, ruled by the Mauryan dynasty from 321 to 185 BC...

, though they were similar to the older issues. During the 4th century BC, after Alexander the Great's conquest of the Indus Valley
Indus River
The Indus River is a major river which flows through Pakistan. It also has courses through China and India.Originating in the Tibetan plateau of western China in the vicinity of Lake Mansarovar in Tibet Autonomous Region, the river runs a course through the Ladakh district of Jammu and Kashmir and...

 and Punjab region
Punjab region
The Punjab , also spelled Panjab |water]]s"), is a geographical region straddling the border between Pakistan and India which includes Punjab province in Pakistan and the states of the Punjab, Haryana, Himachal Pradesh, Chandigarh and some northern parts of the National Capital Territory of Delhi...

, the Greek currency Drachma was introduced and was carried on by Bactria
Bactria
Bactria and also appears in the Zend Avesta as Bukhdi. It is the ancient name of a historical region located between south of the Amu Darya and west of the Indus River...

, Indo-Scythians
Indo-Scythians
Indo-Scythians is a term used to refer to Sakas , who migrated into Bactria, Sogdiana, Arachosia, Gandhara, Kashmir, Punjab, Haryana, Uttar Pradesh, Gujarat, Maharashtra and Rajasthan, from the middle of the 2nd century BCE to the 4th century CE....

 and Kushans
Kushan Empire
The Kushan Empire originally formed in the early 1st century AD under Kujula Kadphises in the territories of ancient Bactria on either side of the middle course of the Oxus in what is now northern Afghanistan, Pakistan, and southern Tajikistan and Uzbekistan.During the 1st and early 2nd centuries...

. All these were of the Attica
Attica
Attica is a historical region of Greece, containing Athens, the current capital of Greece. The historical region is centered on the Attic peninsula, which projects into the Aegean Sea...

 weight standard.

Funan, Dvaravat and Khmer Empires

Not much is known of the currency of the Funan, Dvaravati
Dvaravati
The Dvaravati period lasted from the 6th to the 13th centuries. Dvaravati refers to both a culture and a disparate conglomerate of principalities.- History :...

, Chenla
Chenla
Chenla is the Chinese designation for Cambodia after the fall of Funan. That name was still used in the 13th century by the Chinese envoy Zhou Daguan, author of the Manners and Customs of Cambodia...

 or Kambuja in Cambodia
Cambodia
Cambodia , officially known as the Kingdom of Cambodia, is a country located in the southern portion of the Indochina Peninsula in Southeast Asia...

 and the Khmer Empire
Khmer Empire
The Khmer Empire was one of the most powerful empires in Southeast Asia. The empire, which grew out of the former kingdom of Chenla, at times ruled over and/or vassalized parts of modern-day Laos, Thailand, Vietnam, Burma, and Malaysia. Its greatest legacy is Angkor, the site of the capital city...

 from 100–1370 CE. The origin of the coins were based on ancient Indian coinage
Indian coinage
Coinage of India, issued by Imperial dynasties and smaller middle kingdoms of India began during the 1st millennium BC, and consisted mainly of copper and silver coins in its initial stage. Scholars remain divided over the origins of Indian coinage...

 that has been more stylised over the millennia. Funan and Dvaravat coins were silver and bronze
Bronze
Bronze is a metal alloy consisting primarily of copper, usually with tin as the main additive. It is hard and brittle, and it was particularly significant in antiquity, so much so that the Bronze Age was named after the metal...

 or brass
Brass
Brass is an alloy of copper and zinc; the proportions of zinc and copper can be varied to create a range of brasses with varying properties.In comparison, bronze is principally an alloy of copper and tin...

. Khmer coins were made of lead
Lead
Lead is a main-group element in the carbon group with the symbol Pb and atomic number 82. Lead is a soft, malleable poor metal. It is also counted as one of the heavy metals. Metallic lead has a bluish-white color after being freshly cut, but it soon tarnishes to a dull grayish color when exposed...

 and came in 3 weights, 1unit, 3unit and 6unit, a 10unit coin may exist but is debatable. There is not much variation to these coins when compared to Indian coinage
Indian coinage
Coinage of India, issued by Imperial dynasties and smaller middle kingdoms of India began during the 1st millennium BC, and consisted mainly of copper and silver coins in its initial stage. Scholars remain divided over the origins of Indian coinage...

, Roman coinage or Greek coins.

Tibet

Tibetan coins were struck in Lhasa and in the Kong-po province between 1763 and 1954. Since 1959 Chinese currency replaces that of Tibet.

See also

  • Chinese tael
  • Chinese yuan
    Chinese yuan
    The yuan is the base unit of a number of modern Chinese currencies. The yuan is the primary unit of account of the Renminbi.A yuán is also known colloquially as a kuài . One yuán is divided into 10 jiǎo or colloquially máo...

  • Achaemenid currency
    Achaemenid currency
    The coinage of the Achaemenid Empire was a continuation of the coins of Lydia. Coins were issued from 520 BCE-450 BCE to 330 BCE for the Daric and Siglos. It seems that before then, a continuation of Lydian coinage under Persian rule was highly likely...

  • Seleucid coinage
    Seleucid coinage
    The coinage of the Seleucid Empire is based on the coins of Alexander the Great, which in turn were based on Athenian coinage of the Attic weight. Many mints and different issues are defined, with mainly base and silver coinage being in abundance...

  • Nabataean coinage
    Nabataean coinage
    The coinage of Nabataea began under the reign of Aretas II, c. 110 - 96 BC but it was his heir Aretas III, who at the time was in control of land extending to Damascus. The silver coinage is based on the weight of the Roman Denarius or Greek Drachma , as the adjacent areas around Nabataea used the...

  • Historical money of Tibet
    Historical money of Tibet
    The use of historical money in Tibet started in ancient times, when Tibet had no coined currency of its own. Bartering was common, gold was a medium of exchange, and shell money and stone beads were used for very small purchases...


External links

Retrieved January 25, 2006.
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