Coins and Paper Money -> Paper Money – World -> China
The Chinese actually invented paper money, and the process of making it dates back to the early 9th century. Collectors are always seeking Chinese paper money due to its rich history and value, and this is a currency that is very unique. Although it is nearly impossible to find many of these notes outside of a museum, Chinese paper money is very popular and if you can get your hands on a note, you may have a treasure on your hands.
Chinese paper money was originally called “Flying Money” because it was so light, and if the owner did not hold on to it, it could easily blow away. The first notes were made from very delicate paper and they were used almost like IOUs. The owner would write down on the note what they were willing to pay for something, and the recipient could then take that to the bank to cash it. This bank draft system is very similar to our own checking system now.
Chinese paper money changed slightly when the Mongols took over. Instead of paper, the notes were then produced from silk and they were backed by a silk standard, much like the gold standard that would later be used in the Western hemisphere. This was a new idea, and in order to use the notes, the owner would have to actually deposit a set amount of silk yarn in the bank.
The silk form of Chinese paper money endured, and was used throughout the world. It has been discovered in far flung parts of the world by archeologists, but it is very rare to find any that are available to private collectors. After this period in Chinese history, the Ming Dynasty changed the currency, moving back towards paper.
The main problem they faced with this new Chinese paper money was that there was only one set denomination. This forced many to rely on coins since the notes were hard to use for smaller purchases. Due to these problems, paper money actually fell out of use and inflation rose. It wasn’t until modern times that paper money would return and become widespread.
We can thank the Chinese for our current paper money system and their innovations which are centuries old are still in use today. Collectors of Chinese paper money will typically be able to find notes for sale from other private collectors or at auctions. The advent of the internet made it easier to locate many of these notes and business is booming on online auction sites.
For those interested in collecting Chinese paper money, it is best to find notes that are in good condition. The most common are the ones from the Ming Dynasty period, but every once in awhile you can find older notes. The paper is very thin, so these notes should be treated with extreme care and sealed off from air and dust. They are an important part of monetary collectibles and should be treasured as such by collectors.
Originally posted 2008-09-29 14:00:46. Republished by Blog Post Promoter
Related Posts -
Paper Money Coins and Paper Money -> Paper Money: US -> United States Notes Paper money has a long and varied history that dates back centuries. Although we are used to dealing with paper money on a constant basis it was not too long ago that it wasn’t even used. Let’s take...... - Canadian Coins Coins and Paper Money -> Coins: Canada -> Commemorative Whether you are from Canada, or just interested in collecting Canadian coins, there are plenty of options out there and many of these coins are actually quite valuable. Before you get started with your collection, it’s a good idea to know......
- Gold Eagle Coins Coins & Paper Money -> Gold -> American Eagle Gold Eagle coins are American currency, first released in 1986, that contains the stated amount of actual gold weight claimed in troy ounces, with a silver and copper alloy added to make the coins less soft and more wear resistant. The......
- Euro Coins Coins & Paper Money -> Coins: World -> Europe Euro coins were first put into circulation in 2002 by the European Union. There are 8 coins: 1, 2 5, 10 and 20 cent coins, as well a the 100 and 200 cent coins, which equal 1 and 2 Euros, respectively.......
-
Buffalo Nickels Coins and Paper Money -> Coins - US -> Nickels -> Buffalo (1913-1938): 1913-19, 1920-29, 1930-38, Mixed Lots The popular US coin called the Buffalo Nickel was only minted from 1913 to 1938, but it quickly became one of the most popular coins and certainly one of the most collectible.......
Related Websites - Hurricane Gustav and Tropical Storm Hanna Roundup Sunday Money Madness is back again this week under the header of the Hurricane Gustav and Tropical Storm Hanna. Rainy and windy weather is about to bombard the southeast again and looks like Louisiana, and Texas are going to take the brunt of the category four hurricane. For those living......
-
![Canadian Maple Leaf Gold Coins [photo: rmcoins.com]](http://www.getmoneyenergy.com/wp-content/uploads/2009/10/Canadian-Maple-Leaf-Gold-Coins-150x150.jpg "Canadian Maple Leaf Gold Coins [photo: rmcoins.com]")
The New Gold Standard: Will Gold Be Part of A Basket of Currencies Replacing the Dollar as World Reserve? Gold has broke through some of its all-time highs today, October 7, 2009, reaching as much as $1043/oz. But that is not the end of the excitement for all the gold bugs and other lovers and investors in the yellow metal. Gold might be making a comeback as a contender...... - Roundup for week of 27 May 2007 It's a weekend with weather that's great for crops. So here's a group of links that I fielded through for your viewing pleasure:Blueprint for Financial Prosperity understands why one-day consumer gas boycotts don't work.Consumerism Commentary is scoping for $1 coin errors.Five Cent Nickel answers a reader's question about using a......
- How we lose perspective We went shopping recently, because I needed a pair of shoes that I could wear with business-type clothes. (I only had one pair, and since that pair literally made me feet bleed the last time I wore them for an hour, I was determined to replace them.) I'm probably one......
- Wells Fargo, Bank of America, Wachovia and Other Major Banks are Ripping You Off. Have you ever considered why you chose the bank that you bank at? Was it because your parentâs bank there, itâs close to your house, or that it was the first place you stopped at? Most of us end up banking at large mega-banks with billions of dollars in assets,......
