As the city lights come on, Tunghwa Street in Taipei fills with people eating, drinking, playing. But it is an old man selling coins who grabs your attention. In the past, when the old man went into business, he often shopped in antique stores for that "refined" look. At that time many old coins circulated, and their price was not high. He bought some for fun and out of interest, but "later my business failed, and the best thing to do was sell money to make money."

The same coin can have completely different values in different eras. No wonder "using money to sell money" can become an industry in itself.

The appearance of coins provided an objective, fair standard for the transactions of daily life. But they are also related to life and death. In the customs of the people of Taiwan, when a child reaches one month the family will give an auspicious gift of coins threaded with red string.

In earliest times money did not exist, and people used barter instead. As the demands of life increased, money became the medium of exchange. Before coinage, shells were the earliest form of currency.

Early records note that Taiwan is situated in the Kuroshio current, an ocean current running from Japan and an important place for the production of shells. Often people braved the dangers to cross to Taiwan to find shells, which covered the ground as far as the eye could see. Thus arose a Fukienese saying, "Taiwan is up to the ankles in money." Those living inland turned to pot earth, then, one after another, iron, gold, silver, nickel....

From the appearance, design, weight, and composition of money, not only can one observe the vicissitudes of political history, one can also deduce the social, economic, cultural, and artistic development of the times. This is one reason why collectors never tire of "money."

Circulation of coinage was first ordained by the Emperor Chin Shih (246-214 B.C.). The round coin with a square hole in the middle, equivalent to half a tael, started a tradition carried through the Ching dynasty (1644-1911). The Emperor Wu of the Han dynasty (r. 157-187 B.C.) lowered the weight to. five chu (1/24 of a tael), making it more convenient. The edges were raised, and the coins were exquisitely made.

The five-chu pieces were replaced in the early T'ang dynasty (618-907) with coins just over two chu. From this point, dynastic year names were formally used to name the coinage.

After a period of disorder, the Sung dynasty (960-1279) issued coins copying the T'ang. The coins of the Northern Sung (960-1127) were quite beautiful, reaching an apogee under the emperor Hui-tsung (r. 1101-1125). Renowned as an artist, he personally did the calligraphy. Sets of "paired coins" were issued with the same date but different calligraphy styles.

The most complex period for coins was in the reign of Chung-chen (1628-1644), last emperor of the Ming dynasty, with numerous different weights, widths, lettering, and shapes. One particularly special one had a galloping horse on the reverse side.

Coins were mostly bronze. Iron rusted too easily. Gold and silver, of high value, were not suitable for large amounts of low-value coins.

In the period of Japanese occupation in Taiwan (1895-1945), the world price of copper rose rapidly, so coins were hoarded to be melted down. People couldn't get small change. The authorities had to issue stamps to serve as money. If the government dilutes the composition of its coins, however, by adding less precious metals, then the value of the metal itself falls below the face value on the coin.

In the Ching dynasty, there were copper coins and silver taels, the latter the unit of government accounting. At times, to pay taxes, the poor, some of whom could live a whole life without seeing silver coins, had to give up silver hairpins or rings.

Coin collecting is not difficult, but getting a complete collection is. With tens of dynasties issuing currency, coins are everywhere. What to do? Collector Hung Tze-lin suggests: "Choose a certain period based on your interests, get as much relevant data as you can, and begin collecting." Coins produced in periods when the country was strong are of generally better design.

In the hearts of collectors, a few coins have special value. The Yuan-ta-t'ou is an example. Yuan Shih-kai (1859-1916) tried to restore the imperial system in 1915, and issued a coin with himself in military uniform on the front and a flying dragon on the back. Because the composition is of high quality, and Yuan's "reign" lasted only 83 days, these coins are extremely coveted.

In history, every time someone usurped government authority, he would most likely issue coins. If the rebellion was put down, the coins were destroyed. Those that survived are made valuable by their scarcity. The coins of the Taiping rebellion are an example. Most shops today sell Ching dynasty coins or commemorative coins of the ROC

Another point worth mentioning is that, in the process of making coins, some defects slip through. These are not scorned as "deformed"; indeed they are of high value.

The easiest coins to collect are sets of coins currently in circulation. But even then it can be tough: for example, the old aluminum two chiao (one chiao being one tenth of an NT dollar) and copper five chiao are not easy to find. This also means that the days of five popsicles for five chiao have also disappeared. Specialists suggest you seek the advice of experienced elders when buying old coins.

A coin is more than just money: it tells us the ebb and flow of time, of the rhythms of five thousand years, of days of tragedy and greatness. If you want to talk value, it's really worth the money.

[Picture Caption]

A Fukienese saying has it that "Taiwan is up to the ankles in money." It is said that this referred to the fact that in ancient times shells--then serving as money--were everywhere.

How much money can this money finally be sold for? Buying coins is also a form of investment. (photo by Wang Wei-chang)

In the era of primitive agriculture, agricultural tools were the blueprints for making coins. The above picture is a coin shaped like a shovel, the bottom one shaped like a knife.

This is a Han dynasty one-half-tael coin. Discovered in the tomb of a prince, it is 49mm in diameter, larger than the 26-mm coin usually seen.

This is a coin minted by the traitorous Chang Hsien-chung of the Ming dynasty. It is said that no more than ten exist on Taiwan, and its value is about NT$400,000.

This is an ivory coin; these were originals used to make the molds for minting metal coins. From the Ching dynasty, the coin has both Chinese and Manchu writing on it.

This coin, minted in the Hsien-feng period of the Ching dynasty, has a fish, patterned thread, and other auspicious symbols. These repre-sented the hopes of the people for prosperity and long life and for blessings handed down to one's children.

This is a coin minted by Tai Chao-chun, from Changhwa in Taiwan, at the time of the stirring up of trouble in Taichung, in the first year of the Tungchih reign. Can you figure it out? There are a pair of crossed writing brushes, with a ju-i (an elongated S-shaped good luck symbol) in the center, with the characters for "government" and "treasury" marked at left and right.

Gold bonds of the Republic of China are even older than the Republic itself. These were issued by Dr. Sun Yat-sen to raise money for the revolutionary army.

(Right) The Ching dynasty only unified coinage in the third year of the Hsuan-t'ung reign, and issued the Great Ching Silver Coin. (Left) Because at the end of the Ching dynasty the silver coin had a dragon on the back, it was called the "dragon coin." That with the largest face value was called "great coin."

This coin records the 83-day dream of imperial restoration harbored by Yuan Shih-kai, an ambitious adventurist, and carries the name "Yuan-ta-t'ou."

In the performance of "The Return of Hsueh P'ing-kui" at the Social Educational Hall, Liao played the role of Wang Pao-chuan.

On the anniversary of her grandmother's death, Liao burns incense and prays. She says, "Grandmother was my closest relative.".

Liao Chung-chih's emotion-filled expressions and gestures move the crowds deeply. No wonder even foreigners are touched.

Liao Chung-chih's emotion-filled expressions and gestures move the crowds deeply. No wonder even foreigners are touched.

Liao Chung-chih's emotion-filled expressions and gestures move the crowds deeply. No wonder even foreigners are touched.

Manila Bay is a famous sight-seeing spot in the Philippines. At the right is a "little hero of the road"--the Jeepney.