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<p>[QUOTE=&quot;medoraman, post: 1622532, member: 26302&quot;]Yes and no. For most of its life, the cash coin circulated as one cash. Most of the markings were just telling who the emperor was. It was not until the Northern Sung dynasty that multiples of one cash were produced, and even then a two cash was double the weight of a one cash.</p><p><br /></p><p>But, like almost all copper money, the copper in the coin was not quite worth the face value, so in that way all chinese currency from the very beginning was fiat money. In the west we made gold and silver money basically at metal value, but the copper was fiat. People always forget that Europe has had fiat money forever as well, since almost all copper that was ever struck for coinage has innately been valued higher than the copper in the coin.</p><p><br /></p><p>What is funny about cash is how dramatically they illustrate inflation. Back then inflation was declining coin weight. I can tell you over the course of 2000 years when in the course of a dynasty a coin was struck. All of them start off full weight, then slowly they start to shrink. By the end of the dynasty the coin only weighs about half of what it started at. Then they have a revolution, and the new dynasty immediately issues full weight coins, and the cycle starts all over again. Its simple the nature of government to steal from the people it seems.[/QUOTE]</p><p><br /></p>

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