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400 Cash - Wang Mang Third reform
| Issuer | China (ancient) |
|---|---|
| Year | 10-14 |
| Type | Standard circulation coin |
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| Composition | Log in to see details |
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| Obverse description | Spade-shaped bronze coin with a raised circular hole at the top of the handle, within a recessed rectangular panel. The body of the spade displays four archaic Chinese seal-script (zhuanshu) ideograms arranged in two vertical columns, reading right to left: 布序 百四 (Xu Bu Si Bai, meaning 'Ordered Spade / 400'), denoting the denomination. A prominent central vertical ridge divides the face, with additional raised border lines framing the inscription fields. The lower portion terminates in the characteristic bifurcated foot typical of Wang Mang spade money. |
|---|---|
| Obverse script | Log in to see details |
| Obverse lettering | 布序 百四 (Translation: Xu Bu Si Bai Ordered spade / 400 (value)) |
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| Additional information |
Wang Mang's currency reforms were a sustained exercise in monetary chaos. The Third Reform of 10 AD introduced a tiered system of denominations with artificial exchange rates bearing no relation to actual metal content — the 400-cash piece carried a face value roughly forty times its intrinsic bronze worth. Merchants and the public largely refused to use the new coins at face value, and Wang Mang responded by making currency hoarding a capital offense.
Hartill 9.23 corresponds to the heavier, earlier castings before production standards degraded noticeably toward the dynasty's end in 23 AD.