Item number: A4370

Year: AD 928-942

Material: Bronze

Size: 24.4 x 24.0 x 1.2 mm

Weight: 4.5 g

Manufactured by: Panyu (present-days Guangzhou)

Provenance: Spink 2023

This specimen is a Dayou Yuanbao cast by Liu Yan, the founder of the Southern Han regime during the Five Dynasties and Ten Kingdoms period, named after his third era name, Dayou.

The typology follows the traditional round coin with a square hole prevalent within the Sinospheric cultural circle. The obverse legend consists of the characters Dayou Yuanbao in clerical script, read circumscriptively from the top. The characters Yuan and Bao essentially emulate the Kaiyuan Tongbao of the Tang Dynasty, whereas Da and You are relatively irregular. Minor discrepancies in the calligraphic strokes compared to extant rubbings suggest the possibility of private minting. The reverse of the coin appears to feature an upward-facing crescent mark positioned above the square hole.

In AD 901, the first year of the Tianfu era of Emperor Zhaozong of Tang, upon the death of Xu Yanruo, the Military Governor of Qinghai, Liu Yin—the son of a local magnate from Lingnan—was recommended as the acting governor and subsequently seized control of Guangzhou. Following his official appointment as Military Governor and the subsequent collapse of the Tang, Liu Yin secured the title of Prince of Nanhai through significant bribery of Zhu Wen. He actively recruited scholars fleeing the turmoil of the Central Plains. Upon Liu Yin’s death in AD 911, his brother Liu Yan succeeded him. After failing to receive the title of Prince of Nanyue, Liu Yan proclaimed himself Emperor in AD 917, initially naming the state Dai Viet and establishing the Qianheng era; the state name was changed to Han, historically known as Southern Han, the following year. Initially, he formed alliances with neighbouring states and established educational institutions. However, in his later years, he became increasingly extravagant and suspicious, relying heavily on eunuchs. Following his death in AD 942, the fifteenth year of the Dayou era, he was succeeded by his son Liu Bin, who was soon murdered by his brother Liu Sheng. The reign of Liu Sheng was marked by cruelty and debauchery, involving the systematic execution of the imperial family and veteran officials. Upon his death in AD 958, his son Liu Chang ascended the throne, but his incompetence and delegation of authority to eunuchs led to the state’s decline. The Southern Han was ultimately extinguished by the Northern Song in AD 971, spanning three generations and four sovereigns over fifty-five years (AD 917–971), or seventy-one years (AD 901–971) if measured from Liu Yin’s initial control of Lingnan.

The Southern Han commenced minting shortly after its foundation to bolster fiscal resources. Upon declaring himself Emperor in AD 917, Liu Yan cast Qianheng Zhongbao copper coins; the following year, due to a shortage of copper, lead coins were introduced at a fixed exchange rate of ten lead pieces to one copper piece. Consequently, copper issues are primarily associated with the period when the state was still named Dai Viet. Additionally, copper Qianheng Tongbao coins exist but are exceedingly rare, likely produced in very small quantities during the first year of the era. Historical records, such as Hong Zun’s Quan Zhi and Wu Renchen’s Spring and Autumn Annals of the Ten Kingdoms, note that lead coins were used within the city walls while copper coins circulated externally, with a strict ban on the private export of the latter. Morphologically, the copper coins typically feature regular script with neat execution, whereas the lead coins often employ clerical script with more flamboyant and irregular strokes. Furthermore, lead xiaoping coins such as Kaiyuan Tongbao and Wuzhu types, excavated in the Guilin region of Guangxi, are considered local issues from the reigns of Liu Sheng and his successor.

物件編號: A4370

年代: 公元 928-942 年

材質: 青銅

尺寸: 24.4 x 24.0 x 1.2 mm

重量: 4.5 g

製造地: 番禺 (今廣州)

來源: 斯賓克拍賣行 2023

這是一枚五代十國時期，割據廣州的南漢開創者劉龑，以其第三個年號「大有」，所鑄行之「大有元寶」。

錢幣形制為漢文化圈傳統的方孔圓錢。正面錢文為隸書「大有元寶」，自上而右旋讀。「元、寶」字基本上仿唐「開元通寶」；「大、有」則不甚規整。錢文筆劃細處亦與傳世錢幣拓片稍有差別，不排除私鑄的可能。錢背錢穿上方疑有一仰月紋。

唐昭宗天復元年(公元901年)，清海軍節度使徐彥若卒，其遺表薦行軍司馬、嶺南土豪、封州次史之子劉隱為權知留後(即代理節度使)，劉隱遂據廣州。其後獲授節度使，並於朱溫篡唐後，重賂朱溫，累封至南海王。劉隱招賢納士，因中原板蕩，士人多避亂嶺外，劉氏悉加禮遇。梁太祖乾化元年(公元911年)，劉隱卒，弟劉巖(後改名劉龑)繼立。劉巖以受封南越王不成，遂於後梁貞明三年(公元917年)自立稱帝，國號大越，建元乾亨，次年改國號為漢，史稱南漢。其初聯姻閩、楚、南詔，立學校、設貢舉，延納中原人士；然自矜出自「咸秦」，輕侮中朝，晚年奢靡多疑，專任宦者。大有十五年(公元942年)劉龑卒，子劉玢立，旋為弟劉晟所弒。劉晟即位後殘酷荒淫，誅戮宗室勳舊殆盡。顯德五年(公元958年)晟卒，子劉鋹立，昏庸委政宦官，國勢日衰。宋太祖開寶四年(公元971年)，南漢為北宋所滅，凡三世四主，立國五十五年(公元917至971年)；若自劉隱據嶺南始計，前後凡七十一年(公元901至971年)。

南漢立國之初便即鑄幣以資財用。劉龔於梁末帝貞明三年(公元917年)稱帝、建元乾亨，鑄「乾亨重寶」銅錢；次年以國用不足，又鑄鉛錢，定十鉛當一銅，故銅錢多鑄於國號仍稱大越之時。另有「乾亨通寶」銅錢，存世極稀，或為乾亨元年所鑄，鑄量甚少。文獻如洪遵《泉志》與吳任臣《十國春秋》均記南漢鑄有銅、鉛「乾亨重寶」，並稱城內用鉛、城外用銅，嚴禁私出。形制上，銅錢多為楷書，端整規矩；鉛錢多用隸書，筆畫狂放而不規範。另於廣西桂林一帶出土南漢時期所鑄鉛質「開元通寶」與「五銖」等小平錢，當為劉晟父子時期地方鑄幣。