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1 Cash - Xiangfu Yuanbao

Issuer Empire of China
Year 1008-1016
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Composition Bronze
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Obverse lettering  祥 寶 符  元
(Translation: Xiang Fu Yuan Bao Xiangfu (3rd era of Zhenzong, 1008-1016) / Original currency)
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Mintage ND (1008-1016)
Additional information

Xiangfu Yuanbao was issued during the reign of Emperor Zhenzong of the Northern Song dynasty, with the era name Xiangfu spanning 1008 to 1016. Zhenzong is better remembered for the Treaty of Shanyuan in 1005, in which the Song agreed to pay the Liao dynasty an annual tribute of silver and silk — a humiliating but pragmatic settlement that stabilized the northern frontier and allowed the commercial economy, and with it coin production, to expand considerably.

Northern Song cash output during this period was extraordinary by any premodern standard, with some estimates placing annual bronze coin production in the hundreds of millions.

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