| For much of the pre-modern period, the Chinese economy ran on a combination of [[silver]] and [[copper]] coins. Coins were minted in China since at least the 4th century BCE, originally in a knife-like shape, acquiring a standard form of a circular coin with a square hole in the center from the [[Han Dynasty]] onwards. Though there was a unified standard of bronze coins up until the [[Song Dynasty]] ([[960]]-[[1279]]), the economy grew so large at that time, and demand for coin grew so great, that China shifted to multiple concurrent systems, using bronze/copper coins alongside unminted silver and paper money ("[[flying cash]]"), which was first developed and circulated in the early 11th century. | | For much of the pre-modern period, the Chinese economy ran on a combination of [[silver]] and [[copper]] coins. Coins were minted in China since at least the 4th century BCE, originally in a knife-like shape, acquiring a standard form of a circular coin with a square hole in the center from the [[Han Dynasty]] onwards. Though there was a unified standard of bronze coins up until the [[Song Dynasty]] ([[960]]-[[1279]]), the economy grew so large at that time, and demand for coin grew so great, that China shifted to multiple concurrent systems, using bronze/copper coins alongside unminted silver and paper money ("[[flying cash]]"), which was first developed and circulated in the early 11th century. |
− | Silver was used for large purchases, while copper was used for smaller purchases. The Chinese government minted massive numbers of coins, especially in the [[Song Dynasty]], in such large amounts (several hundred million coins over the course of the dynasty)<ref>Richard von Glahn, "The Ningbo-Hakata Merchant Network and the Reorientation of East Asian Maritime Trade, 1150-1350," ''Harvard Journal of Asiatic Studies'' 74:2 (2014), 251.</ref> that they came to be widely used throughout the region, and survive in great numbers today, going back even as far as the Han Dynasty. | + | Silver was used for large purchases, while copper was used for smaller purchases. The Chinese government minted massive numbers of coins, especially in the [[Song Dynasty]], in such large amounts (several hundred billion coins over the course of the dynasty)<ref>Richard von Glahn, "The Ningbo-Hakata Merchant Network and the Reorientation of East Asian Maritime Trade, 1150-1350," ''Harvard Journal of Asiatic Studies'' 74:2 (2014), 251.</ref> that they came to be widely used throughout the region, and survive in great numbers today, going back even as far as the Han Dynasty. |