Title

Sizhu Coins and the Monetary Reform of Emperor Wen in the Western Han Dynasty

Author

Yeng-liang Chen

Genre

Article  

Pages

321-360

Download

PDF

Language

Chinese

Key words

Sizhu coins, monetary system, monetary policy, coinage, Emperor Wen of Western Han Dynasty

Abstract

  This paper analyzes Emperor Wen's monetary system of 'Sizhu' (四銖4 zhu, 1 zhu =0.651g) coins in the Western Han Dynasty and concludes that its success lay in the policy of free coinage by the people. The study is based on quantitative evidence of ancient coins' metallic composition and their weight, showing that the Sizhu coins were the best currency during the Western Han period. We also confirm that the Sizhu coins under the free coinage policy had better metal content than those under the centralized coinage policy. This demonstrates that the successful monetary reform of Emperor Wen set the foundation for the flourishing era of Wen-Jin in the Western Han period.