Item number: A2634

Year: AD 1310-1311

Material: Bronze

Size: 41.5 x 41.5 mm

Provenance: Spink 2023

This coin is a “Da Yuan Tong Bao” denomination of ten, bearing an inscription in the Phags-pa script. It was cast during the 3rd and 4th years of Zhida era (AD 1310–1311) under the reign of Yuan Emperor Wuzong, Haishan.

The obverse features four characters written in Phags-pa script, arranged vertically and read from top to bottom, left to right. The characters ꡈꡭ, ꡝꡧꡦꡋ, ꡉꡟꡃ, and ꡎ ꡡ ꡓ respectively transliterate to “Da Yuan Tong Bao.” The reverse is plain and uninscribed. Both the obverse and reverse exhibit an inner rim with a quatrefoil pattern—four notches extending outward from each corner of the square hole.

The Phags-pa script was a Mongolian writing system designed by the Tibetan Sakya monk Drogön Chögyal Phagpa at the behest of Kublai Khan, the founding emperor of the Yuan dynasty. Based on Tibetan script, it was intended as a unified script for the diverse languages of the empire. From the reign of Kublai Khan onward, Phags-pa was officially adopted as the state script of the Yuan dynasty.

The earliest known copper coin bearing Phags-pa script is the “Zhi Yuan Tong Bao” from the reign of Kublai Khan. However, examples of this coin are extremely rare, reflecting the Yuan dynasty’s preference for paper currency—such as Jiaochao and Baochao—as the principal medium of exchange. Copper coins were minted primarily as equivalents to support the paper currency system rather than for widespread circulation. Compared to other dynasties, the Yuan produced relatively few copper coins. According to official histories, the only copper coins formally issued were the “Zhi Da Tong Bao” and “Da Yuan Tong Bao” under Emperor Wuzong, and the “Zhi Zheng Tong Bao” under Emperor Huizong (Toghon Temür). The “Da Chao Tong Bao,” discovered in modern times, is not recorded in official historical sources.

In response to the fiscal crisis caused by the overissuance of paper currency, uncontrolled military expenditures, and systemic corruption, Emperor Wuzong implemented a series of corrective measures. These included consolidating the financial authority of the Central Secretariat and the Privy Council to enhance centralised control over state finances; auditing and dismissing superfluous or sinecure officials to reduce salary burdens; curbing the excessive issuance of earlier paper currencies such as the Zhi Yuan Baochao, recovering older notes, and introducing new coinage like the Zhi Da Tong Bao and Da Yuan Tong Bao to stabilise currency value. He also sought to reform the state monopolies on salt and iron and the land tax system, instituting stricter oversight against salt smuggling and fraudulent land declarations by powerful elites. Although these reforms yielded limited results—some being superficial in execution—such as the nominal restriction of Baochao while concurrently issuing silver currency for revenue extraction, they laid a foundational basis for subsequent fiscal and political stabilisation. Despite his personal indulgences and wavering commitment to reform, Wuzong’s appointment of capable officials and his efforts to dismantle the entrenched faction of the former minister Sangge contributed to the groundwork for the more effective reforms of the Yanyou Restoration under Emperor Renzong.

物件編號: A2634

年代: 公元 1310-1311 年

材質: 青銅

尺寸: 41.5 x 41.5 mm

來源: 斯賓克拍賣行 2023

此錢為「大元通寶」折十，八思巴文版。由元武宗海山於至大三年至四年間(公元1310-1311年)鑄造。

錢面錢文四字由上至下、由左至右對讀，「ꡈꡭ、ꡝꡧꡦꡋ、ꡉꡟꡃ、ꡎ ꡡ ꡓ」依序譯為「大元通寶」。錢背則光素無文，錢正背內廓均具四決紋，即四角向外延伸。

八思巴文，是元朝開國皇帝忽必烈指派國師，來自西藏的薩迦派喇嘛八思巴以吐蕃文字為基礎設計的蒙古文字。自忽必烈後，八思巴文便一直都是元朝的官方文字。

目前所見，元朝最早鑄造的八思巴文銅錢是元世祖忽必烈時期的至元通寶，此類通寶出土甚少，因元代貨幣以紙錢（交鈔、寶鈔等）為主，並鑄對應銅錢以相權，而非供普遍流通，所以官方鑄造銅錢的數量，相比於其他朝代要少得多。正史記載，正式頒行的銅錢只有元武宗的至大通寶、大元通寶和元順帝的至正通寶，近代發現的大朝通寶更是於史無錄。

面對元朝因濫發紙幣、軍費失控與官吏貪污所造成的財政危機，元武宗推動了一系列整頓措施。其主要改革包括整合中書省與樞密院的財政權力，強化中央對財政的統一管理；同時清查冗官與濫賞，裁撤無實職之官員以減少俸祿支出；限制至元寶鈔等紙幣的濫發，試圖回收舊鈔，發行新幣如至大通寶、大元通寶以穩定幣值；並整頓鹽鐵專賣制度與田賦徵收，嚴查盜鹽與豪強漏報土地等情況。雖然改革成效有限，部分措施流於表面，如限制寶鈔，卻另行銀鈔以聚斂。且武宗本人好酒色、改革決心不強，但其任命的廉能官員及清除權臣桑哥舊黨的行動，為後來元仁宗延祐年間的財政與政治中興奠定了初步基礎。