1 Cash - Wang Mang (Fifth reform; "Biscuit coin")

The 'Biscuit' 1 Cash coin was issued during the short-lived Xin dynasty under the usurper emperor Wang Mang. Following his fifth currency reform in 14 AD, Wang Mang introduced this specific type to replace the complex spade and knife money systems that had proven unpopular and difficult to regulate. The design is characterized by its simple, circular shape and uniface reverse, departing from the intricate metallic shapes of his earlier reforms to favor a more utilitarian, standardized form.

The coin bears the inscription 'Huo Bu,' reflecting Wang Mang's attempt to exert absolute control over the economy and symbolize a return to traditional monetary values. Despite his efforts to centralize wealth and stabilize the state, his currency reforms were widely unpopular among the merchant class and the general populace. These coins remain significant to numismatists today as tangible evidence of one of the most radical and volatile periods of economic experimentation in ancient Chinese history.