The Daming Tongxing Baochao is a paper note that was circulated in Ming China during the fourteenth century, and is known to have been the world's largest banknote. Issued during the Hongwu period (1328 – 1398), this particular banknote contains the inscription “Daming Tongxing Baochao” (大明通行寶鈔) written in regular script at the top of its front face, and eight characters, “Daming Baochao Tianxia Tongxing” (大明寶鈔天下通行) written in seal script on the upper part of both faces. The center of the note shows the denomination of 1 gwan, with a design of ten bunches of coins placed directly beneath it to help illiterate users understand the function and value of the note. The lower part of the note contains a warning to the effect that anyone who forged this note would be subject to severe punishment.