1 Guan Da-Ming Baochao
Features
| Issuer |
Empire of China
 |
|---|---|
| Emperor |
Ming dynasty › Hongwu (明太祖) (1368-1398)
|
| Type | Standard circulation banknotes |
| Years | 1375-1505 |
| Value | 1 Guan = 1000 Cash |
| Currency | Cash (621-1912) |
| Composition | Paper (mulberry bark) |
| Size | 320 × 209 mm |
| Shape | Rectangular |
| Demonetized | Yes |
| Number | N# 202929 |
| References | P# AA10 Standard Catalog of World Paper Money (10 volumes). |
Obverse
Lettering:
大明通行寶鈔
壹貫
大明寶鈔 天下通行
户部奏准印造 大明寶鈔與銅錢通行使用 偽造者斬 告捕者賞銀貳佰伍拾兩 仍給犯人財產
洪武 年 月 日
Translation:
Da-ming Tongxing Baochao (Treasure Banknotes in the Ming Dynasty)
One Guan
Da-ming Baochao is universal in the world
Printed by the Ministry of Revenue with the approval of the emperor. Da-ming Baochao and copper coins are common currencies. Forgers will be beheaded. Those who caught them will be rewarded with two hundred and fifty taels of silver and the properties of the prisoners.
Hongwu year month day
Comments
These notes were first introduced in 1375, and were rather sucessful at first. While they were not backed by any currency, they had no expiration date, which made it seem like they would circulate forever.
In 1376, damaged notes could be exchanged for undamaged notes at a fee, but in 1380, a law was put in place that unreadable notes could not be exchanged nor redeemed, which did not please people. Emporer Yongle (1402-1424) later put into place a law that said no further reforms could happen with these banknotes.
However, overprinting led to high inflation, and later Hongzhi (1487-1505) and Zhengde (1505-1521) abolished the production of these notes.
In 1376, damaged notes could be exchanged for undamaged notes at a fee, but in 1380, a law was put in place that unreadable notes could not be exchanged nor redeemed, which did not please people. Emporer Yongle (1402-1424) later put into place a law that said no further reforms could happen with these banknotes.
However, overprinting led to high inflation, and later Hongzhi (1487-1505) and Zhengde (1505-1521) abolished the production of these notes.
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| Date | VG | F | VF | XF | AU | UNC | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Undetermined | |||||||||||||||
| ND (1375-1505) | |||||||||||||||
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Numista Rarity index: 97
This index is based on the data of Numista members collections. It ranges from 0 to 100, 0 meaning a very common coin or banknote and 100 meaning a rare coin or banknote among Numista members.
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