From the Tang to the Song Dynasties

 

"Wuzhu" coins were used in the early Tang Dynasty. The emergence of "Kaiyuan Tongbao" coins in 621 A.D. marked the end of the "Zhu" and "Liang" coinage systems.

Coin casting and circulation entered a chaotic period during the Five Dynasties and Ten States period. Low-quality lead and tin coins were circulated in the market. The "Duiqian" coinage system (two coins of the same name, size and weight, but in different scripts) of the Southern Tang Dynasty was continued in the Song Dynasty.

During the Northern and Southern Song dynasties, coins graded as "Xiaoping", "Zhe-er", and "Dangshi" were all cast with the emperors' inscriptions on their designs. Large numbers of "Duiqian" coins were also cast. Iron coins together with bronze coins were first circulated in the Southern Song Dynasty and iron coin casting reached its peak in the Jiading Reign of the Southern Song Dynasty.

In the Southern Song Dynasty, the excessive issuing of paper notes led to their devaluation, so the imperial government in Lin'an (today's Hangzhou) later issued cast bronze and lead plate coins to replace the paper notes.

Meanwhile, the Liao, Jin and Xixia dynasties had their own monetary systems and cast round-with-a-square-hole coins, which imitated the shape of coins of dynasties of the Han ethnic group.