This Chinese Ming dynasty banknote is inscribed with the title
Great Ming circulating treasure note and a warning that
counterfeiting is punishable by death. Paper currency was first
used in China as early as AD 1000. However, the Ming were the
first Chinese dynasty to try to totally replace coins with paper
money. The state issued too much paper money, however, causing
hyper-inflation. By 1425 paper money was worth only a seventieth
of its original value and the use of paper currency in China was
suspended. Who were the Ming dynasty? This banknote was
commissioned by, Zhu Yuanzhang, the first Ming emperor. In 1368
he took part in the rebellion to overthrow the Mongol Yuan
dynasty that ruled China. China enjoyed a long period of
stability under the Ming dynasty (1368 - 1644). Many of China's
ancient traditions were restored but China also pursued an
expansionist foreign policy. Expeditions were sent across the
Indian Ocean to India, the Middle East and East Africa. The
introduction of yams, maize and potatoes