The Typology and Chronology of Banliang Coins Excavated from Sinheung-dong, Iksan

Author: Lee, Moon hyoung

Page: 5-27

Since the 2000s, a number of large-scale archaeological sites dating to the Early Iron Age or the early Mahan period have been identified along the Mangyeong River basin. Based on these findings, the spatial region extending across Iksan, Wanju, and Jeonju has been designated as the “Mangyeong River Cultural Sphere.”

Recently, two specimens of Banliang (半兩錢), a type of Chinese coinage, were recovered from Sinheung-dong in Iksan, situated in the middle reaches of the Mangyeong River.

The Banliang coin is known to have been issued when the First Emperor of Qin unified China and established a standardized monetary system. This coinage system was subsequently inherited by the Han Dynasty, which continued its production until the fifth year of Emperor Wu (118 BCE), when it was replaced by the Wuzhu (五銖錢) coin.

The term “banliang” means “half of one liang (兩),” or 12 zhu (銖), since one liang equals 24 zhu. Banliang coins are characterized by a round shape with a square central perforation, bearing seal-script inscriptions of “半” and “兩” to the right and left of the square hole. Symbolically, the circular form represents heaven and the square center represents earth. The Banliang consequently became the standard model for subsequent Chinese coinage and exerted notable influence on the monetary systems of neighboring regions, including the Korean Peninsula and Japan. 

To date, Banliang coins have been excavated from only four sites in the southern Korean Peninsula. Among these, only the finds from Neokdo in Sacheon and from Sinheung-dong in Iksan can be confidently identified as Banliang coins without ambiguity. 

Previous studies indicate that Banliang coins underwent multiple recastings during the Warring States period through the Qin–Han transition, resulting in variations in size, weight, and calligraphic style.

When evaluated in light of this existing research, the Banliang coins excavated from Sinheung-dong most likely correspond either to the Wufenqian (五分錢) minted in 182 BCE during the Han Dynasty, or to the Sizhubanliangqian (四銖半兩錢) minted between 175 BCE and 136 BCE.​​

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