700 Cash - Wang Mang (Third reform)

The 700 Cash coin is a notable artifact from the brief and experimental reign of the usurper emperor Wang Mang, who founded the Xin Dynasty in 9 CE. This specific denomination emerged during his third currency reform in 10 CE, a period characterized by erratic and radical monetary policies intended to consolidate state power and undermine the influence of the previous Han dynasty nobility. The design of these coins represented a departure from traditional circular coinage, reflecting Wang Mang's desire to reshape the economic landscape of ancient China.

The coins are recognized for their distinct spade-like shape, known as the 'spade money' tradition which he revived to mirror ancient precedents, combined with intricate calligraphy. These were struck in bronze, and the denomination was indicated by complex characters cast into the surface, which were often inlaid with gold to demonstrate the authority and wealth of the new regime. While these designs were aesthetically sophisticated, the reforms were ultimately unsuccessful and deeply unpopular, leading to widespread economic instability that contributed to the collapse of the Xin Dynasty in 23 CE.