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Southern Song Dynasty
Iron
Great Song Yuanbao
(Blank Reverse)
南宋
鐵質大宋元寶
(光背)
Item number: A1716
Year: AD 1225-1227
Material: Iron
Size: 26.0 x 25.8 x 1.7 mm
Weight: 5.0 g
Manufactured by: Lizhou Shaoxing Mint
Provenance: Da Chen Stamps and Coins Collection 2014
The Great Song Yuanbao and Great Song Tongbao coins were both minted during the Baoqing era of the Southern Song dynasty (AD 1225–1227), the first reign title of Emperor Lizong. The Yuanbao coinage was produced in both copper and iron, with inscriptions written in regular script (kaishu) and arranged in a rotating reading order. The obverse bears the inscription “Da Song Yuanbao,” signifying its status as a national coinage, while the reverse is plain and uninscribed.
Based on extant archaeological discoveries and numismatic records, copper coins were minted in two sizes: xiaoping (small standard) and zhe’er (double-value), with reverse inscriptions marking the year of issue. Iron coins were produced in xiaoping and zhesan (triple-value) denominations, with the reverse inscriptions indicating either the year of minting or the overseeing authority. Xiaoping iron coins measure between 2.58 and 2.6 centimetres in diameter and weigh between 4 and 5.8 grams, with most examples unearthed in Jiangsu. Zhesan iron coins range from 2.95 to 3.3 centimetres in diameter, weighing between 6.5 and 10.2 grams, and are primarily found in Sichuan. Reverse inscriptions typically record the minting year or supervising authority, whereas coins with blank reverses are rare and may have served as master coins (muqian). Based on its measured diameter and weight, this particular coin is most likely a xiaoping type, which circulated in the Huainan, Jingxi, and Hubei circuits. The possibility of a zhe’er denomination requires further investigation. Some scholars argue that plain-backed iron coins and those with the reverse inscription “Lizhou Xingshi” share the same obverse inscription and were likely produced by the same minting authority.
During Emperor Lizong’s reign, in the first year of the Duanping era (AD 1234), the Southern Song successfully allied with the Mongols in a coordinated offencive that led to the destruction of the Jin dynasty. However, in the aftermath, the Southern Song was left to face continued Mongol incursions alone. After Kublai Khan eventually conquered the Southern Song, the Tibetan monk Yang Lianzhenjia, serving under his command, looted the Yongmu Mausoleum, where Emperor Lizong had been interred, and removed his skull to be fashioned into a kapala bowl, a ritual implement in Tibetan Buddhism. It was not until Zhu Yuanzhang expelled the Mongols and established the Ming dynasty that Emperor Lizong’s remains were reburied with imperial honours in Nanjing, before being relocated to the original site of the Yongmu Mausoleum in Lin’an.
The chronic coin shortages of the Tang and Song dynasties—often described as episodes of monetary contraction—were primarily caused by inadequate copper ore production and the outflow of currency due to its high credit value as a regional medium of exchange. Following the implementation of the Two-Tax Law (liangshui fa), which further monetised state finances, the situation worsened. Additionally, successive generations frequently repurposed coins for metalware, and private hoarding persisted despite repeated prohibitions. From the Tang to the Song dynasty, coin shortages remained a significant economic crisis for the state. Since the founding of the Song dynasty, Sichuan had relied exclusively on iron coinage due to persistent copper shortages and the high cost of minting. In the late Southern Song period, the circulation of iron currency expanded even further for the same reason. Due to the cumbersome nature of iron coins, this system ultimately led to the introduction of the earliest known paper money, jiaozi.