Item number: A2735

Year: AD 1005-1007

Material: Iron

Size: 35.1 x 35.4 x 3.2 mm

Weight: 15.25 g

Manufactured by: Fengyuan Iron Mint Bureau, Jiazhou; Huimin Iron Mint Bureau, Qiongzhou (Both in Present-day Szechuan)

Provenance: Da Chen Stamps and Coins Collection 2020

This coin is believed to be a “Jingde Yuanbao” iron coin of the denomination equivalent to ten standard copper coins. It was minted between AD 1005 and AD 1007, during the reign of Emperor Zhenzong of the Northern Song dynasty, specifically between the second and fourth years of the Jingde era. The term “equivalent to ten” signifies that this coin was intended to represent the value of ten small denomination coins.

The coin adopts the traditional form of Chinese coinage within the Sinosphere, featuring a round shape with a square central hole. Both the obverse and reverse exhibit a raised outer rim and an inner border, with a comparatively wide square aperture, showing traces of untrimmed casting flash. The inscription on the obverse reads “Jingde Yuanbao” in regular script, arranged in a clockwise order starting from the top. The character “Bao” appears elongated vertically, a feature commonly referred to as “long Bao”.

In the early Northern Song period, iron coins primarily circulated in the Sichuan region. The use of iron currency in Sichuan during the Song dynasty stemmed from severe local shortages of copper resources and poor transportation infrastructure, which led to chronic monetary scarcity. The practise of casting iron coins in Sichuan dates back to the Five Dynasties and Ten Kingdoms period. The Song government inherited this monetary practise and, in response to intensifying warfare and fiscal pressures during the mid-to-late Northern Song, expanded the issuance of iron coinage in Sichuan. Iron, being abundant and inexpensive to smelt, became the dominant local currency. To facilitate large transactions and reduce the inconvenience of carrying heavy coins, the government minted iron coins in various denominations, including equivalents of five, ten, and even ten large coins.

However, iron coins were coarse in quality, heavy, and prone to rust, which hindered their circulation. Their actual purchasing power often fell short of their nominal value, causing market disruptions and price volatility. Moreover, the lack of a stable exchange rate between iron and copper coins led to monetary imbalances and eroded public trust. In some instances, unauthorised private minting of iron coins emerged in Sichuan, further destabilising the local economy. Although the government later sought to replace iron currency with paper money, such as the jiaozi, iron coins continued to play a significant role in regional commerce.

Emperor Zhenzong of Song, Zhao Heng (r. AD 997–1022), was the third emperor of the Northern Song dynasty. During his reign, he carried forward the centralising policies of his predecessor, Emperor Taizong, and worked to strengthen state institutions. Politically, he heeded the advice of key ministers such as Kou Zhun, and in the first year of the Jingde era (AD 1004), personally led a military campaign to Chanyuan to confront the Liao dynasty. This ultimately resulted in a peace settlement known as the Treaty of Chanyuan, which established the framework of annual tribute and peaceful coexistence between Song and Liao, ushering in nearly a century of relative peace.

Domestically, Emperor Zhenzong implemented the “Three Departments Regulations Office” to enhance fiscal oversight, promoted agriculture and water conservancy, and introduced various cultural and educational reforms. He expanded the National Academy and promoted Confucian learning, placing great importance on imperial lectures.

Zhenzong was also deeply devoted to Daoism, frequently engaging in grand rituals of worship and the reception of celestial omens. This religious inclination was particularly evident during the Tianxi era, marked by the adoption of the era name “Dazhong Xiangfu” and the large-scale construction of temples and Daoist shrines. His efforts to invoke divine legitimacy through religious symbolism added a strong theocratic tone to his rule. Though criticised by later generations, these actions reflected his attempt to reinforce imperial authority through ritual and sacred mandates. In his later years, due to declining health, governance was overseen jointly by Empress Liu and the crown prince Zhao Zhen, who would later ascend the throne as Emperor Renzong.

物件編號: A2735

年代: 公元 1005-1007 年

材質: 鐵

尺寸: 35.1 x 35.4 x 3.2 mm

重量: 15.25 g

製造地: 豐遠監，嘉州；惠民監，邛州 (均今四川)

來源: 大城郵幣社 2020

此錢應為「景德元寶」折十鐵錢。於北宋真宗景德二年至景德四年(公元1005至1007年)間鑄造。「折十」意即可折十枚小平錢。

錢幣形制為漢文化圈傳統的方孔圓錢，錢面錢幕均具外輪及內廓，方穿較廣，流銅未除。錢面錢文為「景德元寶」，楷書，自上順時針方向旋讀。「寶」字上下較長，稱「長寶」。

北宋前期，鐵錢主要流通於四川地區。宋代四川地區鐵錢的使用，源於當地銅資源極度匱乏以及交通不便所造成的貨幣短缺問題。自五代十國以來，四川已有以鐵鑄錢的傳統，宋初沿襲此制，並在北宋中後期因戰爭與財政壓力加劇，中央政府更大規模地在四川推行鐵錢政策。由於鐵易得且冶煉成本低，鐵錢成為當地主要流通貨幣。政府為擴大鐵錢使用，曾鑄造多種面額，包括折五、折十等大面額鐵錢，意圖以少量貨幣完成大額交易，以減輕攜帶不便。然而，鐵錢因質地粗劣、重量大、易鏽蝕，導致流通困難，其實際購買力常與面額不符，引發市場混亂與物價波動。再加上鐵錢難以與銅錢等值兌換，造成匯率紊亂與通貨失衡，民間對其信任度日益下滑。四川地區甚至一度出現私自冶鐵鑄錢的現象，加劇經濟秩序的不穩。雖然政府後期嘗試透過發行紙幣如交子來取代鐵錢，鐵錢依舊在地方經濟中扮演重要角色。

宋真宗趙恆(公元997至1022年在位)，是北宋第三位皇帝。在位期間，他繼承太宗之業，致力於中央集權的鞏固與國家體制的完善。政治上，真宗採納寇準等重臣之議，在景德元年(公元1004年)親征澶淵，與遼國對峙，最終議和簽訂「澶淵之盟」，確立宋遼間歲幣和議的基本格局，為北宋帶來一世紀的相對和平。在內政方面，他推行「三司條例司」，強化財政管理，發展農業與水利，並實施多項文教措施，擴充國子監，提倡儒學，重視經筵講學。宋真宗熱衷於神仙信仰與祥瑞符命，崇尚道教，屢次大舉封禪與迎真，尤以天禧年間冊立《大中祥符》年號為表徵，並興建大批祠廟與道觀，推崇天命以穩固皇權，形成濃厚的宗教政治色彩。儘管此舉在後世頗受爭議，但亦體現其藉宗教儀式凝聚政權正當性的努力。真宗晚年體弱，由皇后劉氏與太子趙禎(後來的宋仁宗)共同輔政。