Spade money

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Spade money (traditional Chinese: 布幣; simplified Chinese: 布币; pinyin: bù bì) was an early form of coin and commodity money used during the Zhou dynasty of China (1045 to 256 BCE). Spade money was shaped like a spade or weeding tool, but the thin blade and small sizes of spade money indicate that it had no utilitarian function. The earlier versions of spade coins tended to have a fragile, hollow socket, reminiscent of a metal shovel. Later versions of spade money had this socket transformed into a thin, flat piece, and over time, inscriptions were added to the spade coins to mark their denominations. Several versions of spade money circulated across the Chinese Central Plains during the Zhou dynasty period until they were abolished by the Qin dynasty in 221 BC in favour of the Ban Liang cash coins. Under the Xin dynasty created by Wang Mang spade money was reintroduced; there were 12 different types of spade money in the Xin dynasty, ranging in values from 100 to 1000 qián. In 2021 a paper was published about an old mint that was discovered at an archeological site in Henan Province; through radiocarbon-dating the spade money found there was estimated to have been created between 640 BC and no later than 550 BC, making it possibly the world's oldest known mint, meaning that it is possible that the earliest known coinage was invented by the Chinese and not the Lydians as is commonly believed. Though the spade coins that were found at the Guanzhuang site are not as old as the metal coins that were discovered in the ancient city of Ephesus.