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Da Ming Baochao (Great Ming Treasure Note)

Type Object Region China Time 1371–1380

Da Ming Baochao was the unified national paper currency established under the Hongwu Emperor, issued from 1375 in denominations from one guan to 500 …

Timeline

  1. 1371–1374Nanjing · JiangnanEarly Ming abolished the Yuan Zhongtong and Zhibao notes, centered on copper coins, cracked down on private minting, and prepared new note printing under the Ministry of Revenue and the Baochao Tiju Si, laying administrative and material foundations for a unified paper currency system.
  2. 1375Baochao Tiju Si, Nanjing · JiangnanIn the third month of Hongwu 8 (1375) the 'Great Ming Circulating Treasure Note' was formally issued, fixed at one guan to 1,000 copper cash; a Baochao Tiju Si was established to handle printing, issuance, and redemption, making it the state's legal paper currency while banning private use of silver.
  3. 1376–1380Provinces of the Ming dynasty · ChinaNotes spread through postal relay stations and local offices to all provinces; commercial taxes, salt levies, and some land taxes could be paid in notes, tightly linking the note system to Ministry of Revenue finances as the early Ming paper currency entered nationwide implementation.

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