25 Zhu 'Spade coin', Northern dynasties, Northern Zhou

The Northern Zhou 25 Zhu spade coinage belongs to one of the more cynical monetary episodes in Chinese history. The dynasty systematically debased and replaced earlier Northern Wei and Western Wei issues, issuing inflated-denomination coins — this piece tariffed at 25 Zhu — that contained a fraction of the metal implied by their face value. The strategy transferred wealth upward to the court while eroding ordinary transaction value across the Wei River basin economy.

Production is generally attributed to the reign of Emperor Wu, whose later fiscal reforms would actually reverse some of these policies after 572.