This is a coin inscribed with “Hàm Bình Nguyên Bảo”, circulated in the region of Vietnam. Although “Hàm Bình” was the reign title of Emperor Zhenzong of the Northern Song dynasty (AD 998–1003), this coin is believed to have been privately cast in Vietnam.
The obverse inscription “Hàm Bình Nguyên Bảo” is arranged in a clockwise sequence starting from the top and is rendered in a style approximating regular script. The character “Bình” (平) appears relatively small in size, which may be described as “small Bình”. Its second horizontal stroke is distorted, the brushwork appears rudimentary, and the final two dot strokes are blurred. The two legs of the character “Nguyên” (元) intersect. This variant has not been recorded in earlier numismatic catalogues. The coin lacks both an outer rim and an inner border, and the surface is plain with no additional markings. The widespread white corrosion spots across the coin’s surface may indicate that it is composed of inferior tin-rich alloy, commonly associated with low-quality castings.
The practise of privately casting coins bearing Chinese reign titles was common in Vietnam, especially using those of emperors from the Song, Ming, and Qing dynasties. This phenomenon can be attributed to the historically frequent interactions between China and Vietnam—ranging from tributary relations, trade, and suzerainty to conflict—as well as the chronic shortage of copper in Vietnam. Consequently, Chinese coinage entered Vietnam in large quantities and was accepted by local merchants and the public due to its established form and recognisability.
Since the initial minting of the square-holed round coin “Thái Bình Hưng Bảo” during the early Đại Cồ Việt Thái Bình era (AD 970), private minting had repeatedly been prohibited but persisted. The spread of privately cast coins was primarily driven by the scarcity of copper in Vietnam, compounded by the inadequacy of imported Chinese coins to meet local demand. However, these privately minted coins were often of inferior quality and produced for profit. When issued in excess, they could lead to inflation, resulting in the depreciation of coin value and rising commodity prices, thus affecting the livelihood of the people. The proliferation of such coins often occurred during periods when the central authority was weak or during times of internal conflict among regional powers. In the case of Vietnam, this was most prevalent during the late Trần dynasty (AD 1341–1400) and the later Lê dynasty (AD 1533–1789). Late Lê private coinage frequently featured inscriptions on only one side to reduce production costs, leaving the reverse side blank.
The Revival Lê dynasty of Đại Việt (AD 1533–1789) represented a distinctive period within the broader Later Lê dynasty. In AD 1527, Mạc Đăng Dung usurped the throne and established the Mạc dynasty. Loyalists of the Lê royal house installed Lê Trang Tông in the south, initiating a prolonged standoff between northern and southern forces. From AD 1545 onward, the powerful official Trịnh Kiểm held real power, rendering the Lê emperor a puppet under the control of the Trịnh lords. This period is known in history as the Revival Lê dynasty. During this time, the Trịnh family effectively governed northern Vietnam, while the Nguyễn lords controlled the south, resulting in the protracted “Trịnh–Nguyễn conflict”, also referred to as the “Southern and Northern Dynasties” period, which left the country divided for an extended time. Despite these political challenges, the Revival Lê period saw notable developments in culture, the arts, and the economy. Confucian scholarship and the imperial examination system were upheld, marking this era as one of Vietnam’s cultural golden ages. In AD 1788, the Tây Sơn uprising overthrew the Lê dynasty. The following year, Emperor Lê Chiêu Thống fled to the Qing dynasty, formally bringing the Revival Lê dynasty to an end.
Bibliothèque nationale (France). Département des monnaies, médailles et antiques. Auteur du texte. Catalogue des monnaies vietnamiennes. Supplément / Bibliothèque nationale de France, [Département des monnaies, médailles et antiques] ; [réd.] par François Thierry. 2002.