1 Cash - Wang Mang (Fifth reform; "Spade coin"; repeated legend)

This spade coin was issued during the short-lived Xin Dynasty under the usurper emperor Wang Mang, specifically as part of his fifth currency reform in 14 AD. Wang Mang sought to replace the traditional circular coinage of the Han Dynasty with archaic-style spade and knife money to legitimize his reign through a return to the idealized Zhou Dynasty aesthetic. His erratic and frequent monetary reforms caused significant economic disruption, ultimately contributing to the instability that led to the collapse of his regime.

The design features the distinctive shape of ancient Chinese spade money, a utilitarian tool-based form that had long been out of standard circulation by the first century AD. The inscriptions reflect the rigid and intricate calligraphic standards Wang Mang imposed across his coinage, characterized by precise, thin-stroked seal script. These pieces were largely ignored by a populace that distrusted the new currency, leading to their scarcity in high-grade condition today as many were melted down or lost during the subsequent civil wars.