Chinese Currency History – from Cowrie to Cash

In contrast to the early European coins, the Chinese coins were not used for propoganda, but for trade – that is visibly shown by their composition and layout. No royal portraits in gold and silver, but objects for daily use in copper dominate. At the early stage, it is the cowry shell: it serves as jewelry, as unit of account and as money. At the later stage, it is the equipment money, such as spade- and knife-money used in barter trade. The oldest round and stamped coins are regularly used in China only shortly later than in Europe; but a mutual induction is unlikely.

Coins in China are mass produced: until modern times, coins are cast – a prodecure which easily allows a mass production. An artistic layout is not strived for. For that reason, Chinese coins are not subject to fashion. That is one of the main reasons for their constancy over time.

China, Shang dynasty (1530-1100 BC), cowrie shell Cypraea Annulus, value 3 shu

The cowrie shell has been regarded as an origin of the divine in China from the earliest time. To protect against evil, one carried it as an amulet and put it into the grave of deceased. When queen Fu Hao, wife of powerful king Wu Ting, died around 1300 BC, 6880 kauri mussels were put into her gave. In addition, over 200 valuable bronze vessels, 6000 small sculptures made of jade and 16 people, probably from her own staff, were found.

Over time, the function of the cowrie sea shell expanded - after 1530 BC, documents show that Kauri sea shells are used as a reward, too. The cowrie shown here dates approximately from this time.

No money form lasts longer in the Chinese empire: cowrie are known and used since the Zhang dynasty (1500-1045 BC; the Zhang dynasty founded the first period of a uniform culture and sovereign territory in China, writing art and bronze processing flourished) up

to their demonetization in 1578 AC. Regionally, they are used even until the 20th century.