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300 Cash Da-Ming Baochao
| Issuer | Ming Dynasty Imperial Treasury |
|---|---|
| Year | 1375-1398 |
| Type | Log in to see details |
| Value | 300 Cash |
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| Composition | Log in to see details |
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| Obverse description | Letterpress-printed note on grey-toned mulberry bark paper, with the title inscription 大明通行寶鈔 arranged horizontally across the upper panel within a decorative border of dragon and floral scrollwork. The central field is divided by a rectangular inner frame with key-fret patterned lateral borders; a vignette of stacked copper cash coins tied with a cord occupies the upper central register, above which the denomination 叁佰文 is inscribed in large characters. The lower panel carries multi-column text setting out the legal tender decree and penalties for counterfeiting, with a blank date cartouche at the lower left. |
|---|---|
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| Reverse lettering | 叁佰文 |
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| Comments |
The Da-Ming Baochao series was the Ming dynasty's attempt to revive paper currency after the catastrophic inflationary collapse of the Yuan dynasty's chao notes — a history the new administration was acutely aware of and ultimately failed to escape. The Hongwu emperor banned silver and copper coin transactions outright in 1375 specifically to force adoption of these notes, a coercive monetary policy that generated immediate resentment and widespread counterfeiting.
Mulberry bark paper was mandated partly for its durability and partly because mulberry cultivation was state-controlled, making unauthorized paper harder to source. It didn't stop the forgers. By the mid-15th century, hyperinflation had rendered the notes nearly worthless regardless of face value, and the treasury's reluctance to accept its own paper in tax payments sealed the series' fate.