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Yuan copper coin reform (1310)

Type Event Region Asia Time 1308–1311

Around 1310 under Wuzong Haishan, the Yuan reformed its coinage, minting Dayuan Tongbao copper coins alongside Zhongtong notes to ease fiscal pressur…

Timeline

  1. 1308–1309Dadu · ChinaAfter Yuan Wuzong Haishan ascended the throne, he faced fiscal deficits and depreciated paper currency left by the previous reign. Central Secretariat officials proposed adjusting the scale of copper coin minting and the coin-to-note exchange ratio to ease circulation shortages.
  2. 1310Dadu · ChinaAround 1310 the court promulgated copper coin reform measures, increasing the minting of Dayuan Tongbao and other coins, standardizing minting across the provinces, and adjusting the exchange ratios between copper coins, Zhongtong notes, and Zhiyuan notes to stabilize market prices.
  3. 1310–1311Hangzhou · JiangnanMints in Jiangnan and Central Plains provinces were ordered to increase copper coin output for the market, temporarily easing demand for small transactions, but the paper currency system soon inflated again, planting seeds for the fiscal crisis of the late Yuan.

Sources