½ Liang (Type 5; with dots)

The Ban Liang coin, or half-liang, was established as a standard currency during the Qin Dynasty and continued into the early Western Han period. This specific iteration, produced around 136 BCE under Emperor Wu of Han, belongs to the later phase of the coin's circulation. It was minted to replace the lighter, often debased coins that had caused economic instability, reflecting the Han government's effort to assert central control over the monetary system and standardize commerce across a vast, unified empire.

The design is characterized by its circular shape with a square central hole, a form that became the definitive blueprint for Chinese coinage for over two millennia. The 'dots' or markings found on this particular type often denote specific minting workshops or quality control measures instituted during the Han transition. While scholars analyze these variations to map the decentralization and subsequent reform of the imperial mints, the design remains a testament to the aesthetic and functional simplicity that facilitated trade along the Silk Road and throughout East Asia.