Worlds Oldest Paper Money - China 1 Kuan ca. 1368-1399

[scottishmoney]

The actual size of this note is approximately 220mm X 330mm or 9" X 13" inches, until the Philippines printed a 100000 Piso note that is larger in 1998 this note was the world record holder for the largest paper money ever created - a true horseblanket.

The story goes that a stash of these notes were found in the early 1900's in Beijing, hidden under an idol where they had apparently been placed several hundred years before. This hoard of notes is the sole source of the great many of these notes, otherwise reported notes dating back to the 3rd century AD have not been located.

This note was printed on paper manufactured from mulberry bark, thus the darker colour of the note. By the time of the Ming Dynasty under Emperor Hung Woo(1368-1399) inflation and a lack of coin to pay out these notes rendered them nearly worthless. In fact, in a foreboding of things to come for paper money much later on, this paper money quickly lost all value and was viewed with great mistrust by the population. Paper money would not be issued again in China until the 1850's, again during troubled times. Of course by then most places in the world were issuing paper money in lieu of coin and money has never been the same since.

[Nighthawk]

Nice note, Dave. Thanks for sharing! 

[CoinCrusader42]

Interesting scan, and information about the note.

 

[Pocketcoins]

Thats a new one on me. Really nice. I wonder what a note like that would be worth today? 

[humpybong]

WOW!  Now that is what I call a nice old note.

Thanks for sharing it with us.

[scottishmoney]

Obviously the note is a bit out of my collecting genre, but I purchased it to give to a family member as a gift.  I am just impressed with it's size.  There are varying accounts on how many of these are known to exist, but the best guess is about 60-100 or so.  Other denominations are known to have been issued, and usually if they are still in existence they are unique.  They are a bit of an enigma, there is not even a precise date as to when they were found, by whom, or even where.  Most accounts agree that they turned up in an idol that was being dismantled in Beijing anywhere from ca. 1900-1936 and that the finders of them, the workmen sold them to passersby.

[AdamL]

Thats really cool.

[EgCollector]

Very interesting, Thanks for sharing