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Northern Song Dynasty
Chongning Tongbao
(10 Cash)
北宋
崇寧通寶
(當十)
Item number: A874
Year: AD 1102-1106
Material: Bronze
Size: 34.2 x 34.1 x 2.0 mm
Weight: 10.7 g
Provenance:
1. Noonans 2022
2. D.L.F. Sealy Collection
This is the “Chongning Tongbao” coin minted during the reign of Emperor Huizong of the Northern Song Dynasty, using his second era name. Emperor Huizong ruled for 25 years and employed a total of six era names during his reign.
The term “Chongning,” meaning “to honour the way of Xining,” reflects Emperor Huizong’s intention to emulate his father, Emperor Shenzong, who had adopted the New Policy reforms led by Wang Anshi during the Xining era.
The coin features the typical square-holed design. On the obverse, the four characters “Chongning Tongbao” are inscribed in regular script in a clockwise sequence. The reverse side is plain, without any text or design.
The Chongning Tongbao coins primarily come in two denominations: one-cash and ten-cash coin. The former typically weighs between 3.5 to 4.5 g, while the latter ranges from 10.2 to 16.3 g. Based on its weight, this coin is identified as a ten-cash denomination. The issuance of the ten-cash coins is linked to the fiscal reforms of Cai Jing.
Cai Jing, a student of the New Policy advocate Wang Anshi, managed to gain approval from both the New and Old Factions during the politically turbulent Northern Song Dynasty, leading to his appointment as chancellor on four separate occasions.
After assuming the position in the first year of the Chongning era, Cai Jing, inspired by the I Ching, advocated for the court to take the lead in increasing consumption and inflation, believing that this would stimulate economic production and reduce the issue of displaced people. His thinking foreshadowed ideas later articulated by the renowned Western economist John Maynard Keynes nearly a millennium later.
However, Cai Jing’s lack of adequate regulations and support measures led to the suppression of political opponents and widespread social unrest. Ultimately, Cai Jing was exiled and died in transit, earning infamy among the public as one of the “Six Villains.”
The implementation of the ten-cash denomination policy, as an example, led to severe domestic inflation, particularly affecting the wealth of wealthy merchants in Suzhou. Additionally, it caused political turmoil, with local influential figures, led by Zhang Ting, engaging in unauthorised coin minting, exacerbating the situation.
Emperor Huizong of Song, whose personal name was Zhao Ji. He had a profound interest in tea culture and calligraphy, and authored a book titled “Treatise on Tea in the Daguan Era,” which describes the tea art of the Song Dynasty, including tea appreciation and tea competitions. This book is the only tea monograph written by a reigning emperor in history.
Despite Emperor Huizong’s exceptional artistic accomplishments, his reign was marked by flawed diplomatic policies. These missteps ultimately facilitated the rise of the emerging Jin Dynasty. Following the Jin’s conquest of the Liao Dynasty, they breached the northern Song capital in AD 1127, capturing Emperor Huizong, then acting as a retired emperor, along with his recently enthroned successor, Emperor Qinzong, and other members of the imperial family. This event, known as the Jingkang Incident, compelled the Song court to flee southward, marking a dark chapter in Chinese history.
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.