Item number: A3769

Year: AD 502-557

Material: Bronze

Size: 22.7 x 22.6 x 0.8 mm

Weight: 2.4 g

Provenance: Spink 2023

This coin should be a Wu Zhu cash first cast in the inaugural year of the Tianjian reign under Emperor Wu of the Liang dynasty, that is, AD 502, and is therefore also known as the “Tianjian Wu Zhu.” Its production and circulation likely continued until approximately the fall of the Liang dynasty in AD 557.

In form, the coin conforms to the traditional round coin with a square central perforation characteristic of the Han cultural sphere, with both obverse and reverse displaying complete outer rims and inner borders. The inscription “Wu Zhu” is rendered in seal script and read from right to left. Above and below the central perforation are single raised dots, known as “upper and lower stars on the obverse” or “double pillars.” The manufacture is relatively regular, although the inscription is noticeably worn.

In the early Liang period, the Tianjian Wu Zhu was implemented alongside two official denominations of so-called nüqian (“female coins”) in an attempt to remedy a shortage of currency. However, owing to rampant overminting by both official and private parties, these coins failed to gain the confidence of merchants and commoners, and older coins dating back to the Han dynasty continued to circulate in the market. Monetary disorder ensued, and prohibitions proved ineffective. Consequently, in the fourth year of the Putong reign (AD 524), Emperor Wu of Liang issued an edict to “abolish copper coinage entirely and cast iron coins instead,” thereby inaugurating the large-scale use of iron coinage in subsequent dynasties. Iron was cheap and readily available, and smelting and casting were relatively easy; as a result, both officials and civilians indulged in uncontrolled private minting. Iron coins quickly flooded the market: “…wherever there were markets, iron coins piled up like hills; prices of goods soared. Traders transported coins by cart, no longer counting them individually but reckoning only by strings.” Subsequently, because iron coins were prone to corrosion, the effective money supply diminished, and a pricing practice known as “short strings” (duan mo) emerged, in which fewer than one hundred coins were counted as a nominal “hundred” (mo). Within little more than a decade, inflation and deflation followed one another in rapid succession, resulting in economic depression. The History of the Northern Dynasties records that after the death of Emperor Wu, Emperor Yuan of Liang cast coins rated at ten units each, though whether they were of copper or iron is unknown. The Book of Liang states that Emperor Jing of Liang prohibited iron coinage and issued “four-pillar Wu Zhu” coins in an effort to rectify the currency system. The Book of Sui further notes that, toward the end of the Liang dynasty, “two-pillar coins” were cast. No corresponding physical specimens are clearly identified, but they are generally thought to refer to variations in the number of stars on the obverse and reverse.

After Emperor Wu of Liang, Xiao Yan, died during the Hou Jing Rebellion, Hou Jing successively deposed and installed Emperor Jianwen of Liang and the Young Emperor of Liang, before proclaiming himself emperor under the dynastic title Han, known as the Hou Han regime. This Hou Han was suppressed by Wang Sengbian and Chen Baxian, acting under the command of Xiao Yi, Prince of Xiangdong. Meanwhile, Xiao Ji, a member of the imperial clan, established a separatist regime in Shu; Xiao Yi then invited Western Wei forces into Shu, resulting in the destruction of Xiao Ji’s regime. Xiao Yi subsequently ascended the throne as Emperor Yuan of Liang. He sought to persuade the Western Wei strongman Yuwen Tai to return the Shu region, but instead provoked Yuwen Tai into launching a military campaign. Emperor Yuan was ultimately defeated at Jiangling and executed by agents of Western Wei. Western Wei and Wang Sengbian initially supported the enthronement of Emperor Min of Liang, but Chen Baxian killed Wang Sengbian, expelled Western Wei influence, and installed Emperor Jing of Liang. Finally, in the second year of the Taiping reign of Liang (AD 557), Emperor Jing abdicated in favour of Chen Baxian, who founded the Chen dynasty and is known posthumously as Emperor Wu of Chen.

物件編號: A3769

年代: 公元 502-557 年

材質: 青銅

尺寸: 22.7 x 22.6 x 0.8 mm

重量: 2.4 g

來源: 斯賓克拍賣行 2023

此錢應為於南朝梁武帝天監元年(公元502年)始鑄之五銖錢，因其年號又稱「天監五銖」，鑄行最晚大約至梁亡(公元557年)。

錢幣形制為漢文化圈傳統的方孔圓錢，正背面外輪內廓俱全。錢文為篆書「五銖」，由右至左順讀。錢穿上下各有一點，稱為「面上下星」或「雙柱」。製作規整，但錢文漫漶。

梁初推行天監五銖、公式女錢二品並行，以補通貨之不足。由於官、私濫鑄，不受商民信任，市場仍行用漢以來古錢。貨幣紊亂，禁不能止。是以於普通四年(公元524年)，梁武帝詔「盡罷銅錢，更鑄鐵錢」，開歷朝大量行用鐵錢之先。鐵賤易得，且冶鑄容易，官民放縱私鑄，於是鐵錢很快浮濫於市場，「……(市場)所在鐵錢，遂如丘山，物價騰貴。交易者以車載錢，不復計數，而唯論貫。」其後由於鐵錢易鏽，通貨愈少，反而出現以不足百枚而稱「陌」(通百)的「短陌」計價方式。通貨膨脹與通貨緊縮在十數年間接踵而至，造成經濟蕭條。《北史》載武帝死後，梁元帝鑄當十大錢，銅鐵未知。《梁書》則載梁敬帝禁鐵錢，並鑄行「四柱五銖」，嘗試整頓貨幣。《隋書》則稱梁末鑄「兩柱錢」，對應實物均不明，但多認為是對應面背之星數。

梁武帝蕭衍於侯景之亂中逝後，侯景先後廢立梁簡文帝、梁少帝，後自立為帝，國號漢，稱侯漢。侯漢由湘東王蕭繹命王僧辯與陳霸先討平，蜀地宗室蕭紀割據自立後，蕭繹引西魏兵入蜀，覆滅蕭紀。後蕭繹稱帝，是為梁元帝。梁元帝諭令西魏權臣宇文泰，冀交還蜀地，但激怒宇文泰發兵，梁元帝終敗於江陵，被西魏派人處死。西魏與王僧辯先擁立梁閔帝，陳霸先則殺王僧辯，退西魏，立梁敬帝。最終於梁太平二年(公元557年)，梁敬帝禪位於陳霸先，國號陳，是為陳武帝。