Hongwu Tongbao

First cash coin to bear the name of a Ming Emperor

The Hongwu Tongbao was the first cash coin to bear the reign name of a reigning Ming dynasty Emperor bearing the reign title of the Hongwu Emperor. Hongwu Tongbao cash coins officially replaced the earlier Dazhong Tongbao coins, however the production of the latter did not cease after the Hongwu Tongbao was introduced. The government of the Ming dynasty placed a greater reliance on copper cash coins than the Yuan dynasty ever did, but despite this reliance a nationwide copper shortage caused the production of Hongwu Tongbao cash coins to cease several times eventually leading to their discontinuation in 1393 when they were completely phased out in favour of paper money. In the year 1393 there were a total of 325 furnaces in operation in all provincial mints of China which had an annual output of 189,000 strings of cash coins which was merely 3% of the average annual production during the Northern Song dynasty.

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