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Northern Song Dynasty
Xianping Yuanbao
北宋
咸平元寶
Item number: A810-2
Year: AD 998-1003
Material: Bronze
Size: 24.7 x 24.9 x 1.0 mm
Weight: 3.65 g
Provenance:
1. Noonans 2022
2. D. L. F. Sealy Collection
This coin, inscribed with “Xianping Tongbao,” was minted during the reign of Emperor Zhenzong, the third emperor of the Northern Song Dynasty, under his first era name, “Xianping.” During his 24-year reign, Emperor Zhenzong of the Song Dynasty, Zhao Heng, used a total of five different era names. The era name “Xianping” carries the meaning of “universal peace” or “peace throughout the realm.”
The coin follows the typical square-holed design and has a notably thick and sturdy structure. On the obverse side, the four Chinese characters “Xianping Tongbao” are inscribed in regular script in a clockwise order, with the calligraphy personally written by Emperor Zhenzong. Starting from Emperor Taizu, the founding emperor of the Song Dynasty, several emperors personally inscribed the calligraphy on coins, leading to these coins being referred to as “Imperial Script Coins” (御書錢). The reverse side of the coin is blank, without any inscriptions or designs.
In the early years of Emperor Zhenzong’s reign, the Northern Song Dynasty faced persistent harassment from the neighbouring Liao Empire. This culminated in the signing of the “Treaty of Chanyuan,” in which the Song agreed to pay tribute in exchange for peace. This treaty set a precedent for the Song Dynasty, which later followed a similar strategy of securing peace with the Western Xia and the Jin Dynasty through the payment of annual tributes.
During the Song Dynasty, in addition to bronze coins, one notable feature was the widespread circulation of iron coins, a phenomenon rarely seen in other dynasties. This practise arose primarily for two reasons: first, the domestic shortage of copper resources; and second, the need to prevent copper coins from flowing into the hands of northern rival states, such as the Western Xia, Liao, and Jin. As a result, the Song court initially began minting iron coins, and later introduced early forms of paper money, such as Jiaozi and Huizi, as alternative currency.