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Five Dynasties and Ten Kingdoms
Da Qi
Daqi Tongbao
(Four Eyes, Unperforated Version)
五代十國 大齊
大齊通寶
(四眼未穿孔版)
Item number: A4371
Reference number: H#15.104; DCD#636-1
Year: AD 937 dated
Material: Bronze
Size: 22.2 x 22.2 x 1.5 mm
Weight: 3.65 g
Provenance: Spink 2023
This bronze “Daqi Tongbao” specimen was cast during the Five Dynasties and Ten Kingdoms period of Chinese history, specifically in the first year of the Shengyuan era (AD 939) by Li Bian, the founding sovereign of the Daqi and Southern Tang states.
The numismatic form adheres to the traditional round coin with a square central hole characteristic of the Sinosphere. The obverse bears the inscription “Daqi Tongbao” in clerical script, intended to be read in the orthodox top-to-bottom and right-to-left sequence. The reverse is plain, though the field features four distinct rings situated near the outer rim, earning this particular variety the epithet “Four-eyed Daqi.” Philological and calligraphic analysis reveals several anomalies: the lower component of the character “Qi” (齊), specifically near the “mouth” radical, is unusually narrow compared to authenticated Daqi Tongbao inscriptions. Furthermore, the “walking” radical (辶) of the character “Tong” (通) is rendered with a dot and three distinct strokes, deviating from the three-pivot style prevalent in “Kaiyuan Tongbao” coinage from the Tang to the Five Dynasties. Additionally, the “shell” radical (貝) of the character “Bao” (寶) is narrow with elongated final strokes, a stylistic trait frequently observed in late Northern Song coinage, such as the “Chongning Tongbao.” Physical examination suggests that on authentic extant specimens, the four “eyes” on the reverse should penetrate through to the obverse. Although mainstream scholarship attributes the Daqi Tongbao to Li Bian, the scarcity of historical records has fostered alternative hypotheses, including attributions to the late-Tang rebel Huang Chao or the late-Northern Song puppet ruler Liu Yu.
Extant examples of the Daqi Tongbao are exceedingly rare. The first recorded specimen, known as the “Chipped Corner Daqi” (Quejiao Daqi) due to its fractured edge, was acquired from an intoxicated man by the father of Dai Xi, a celebrated Qing Dynasty painter and Vice Minister of War. The coin was inherited by Dai Xi, who ultimately committed suicide by drowning in a lake following the Taiping Army’s capture of Hangzhou. Legend suggests he buried the coin prior to his death, while others contend he carried it on his person; despite several changes in the ownership of the Dai residence, the coin has never been recovered. The second recorded specimen, the “Four-eyed Daqi,” was purchased in AD 1925 in Poyang, Jiangxi, by the numismatists Dai Baoting and Zhu Kezhuang. This specimen featured four perforations in its outer rim as it had been repurposed as a weighted base for a shuttlecock (jianzi). Following periods of civil unrest, it passed through the collections of Zhang Shuxun and Dai Jitao. While several other Daqi Tongbao surfaced towards the end of the 20th century, the absence of verified archaeological excavation reports renders their authenticity difficult to ascertain.
Following the usurpation of the Tang throne by Zhu Wen, Yang Xingmi (the Military Governor of Huainan and Prince of Wu) and his son Yang Wo continued to observe the Tang era name “Tianyou.” However, shortly after his accession, Yang Wo was assassinated by the powerful official Xu Wen. Although his brother Yang Pu was enthroned as Emperor Rui of Wu (historically termed Yang Wu), he remained a mere puppet. In the third year of the Tianzuo era (AD 937), Xu Wen’s adopted son, Xu Zhigao, compelled Yang Pu to abdicate and established the state of “Qi.” Seeking to claim legitimacy through Tang lineage, he later declared himself a descendant of Li恪 (Prince of Jian and son of Emperor Xianzong), assumed the name Li Bian, and renamed the state “Tang,” known to history as the Southern Tang. The Southern Tang possessed a sophisticated socio-economic culture and led the Five Dynasties and Ten Kingdoms period in terms of coinage volume. Nevertheless, following the death of Li Bian in AD 943, the state faced persistent aggression from the rising Later Zhou dynasty in the north, leading to a steady decline in national strength. Li Jing, who ascended the throne in AD 943, cast the “Tangguo Tongbao,” “Datang Tongbao,” and “Baoda Yuanbao” to finance continuous military campaigns. By AD 958, following military defeat, Li Jing relinquished his imperial title, styled himself as “State Sovereign,” and accepted the suzerainty and calendar of the Later Zhou. In AD 975, Li Bian’s grandson Li Yu—the “Poet-Emperor” renowned for his literary achievements—surrendered to Zhao Kuangyin (Emperor Taizu of Song), who had usurped the Later Zhou. This event marked the final dissolution of the Southern Tang.