Antique Chinese Silver Ingots

A major characteristic of Chinese currency history is the almost complete absence of precious metals. Copper coins dominated monetary circulation for more than 2000 years. Paper money was invented at an early stage - primarily because the coppers were too unpractical for large transactions. The people's confidence in paper money was limited, however. Hence silver became a common standard of value, primarily in the form of ingots. The use of ingots as means of payment dates back 2000 years. However, because silver ingots were smelted now and again, old specimens are very rare. This silver ingot in the shape of a boat – Yuan Bao in Chinese – dates from the Qing dynasty (1644-1911). In the last decades of the 19th century, the Qing began to mint their own silver coins, but until 1933 silver ingots continued to play an important part in domestic Chinese transactions.