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Dangbaekjeon
Enlarged view

[Dangbaekjeon ]

Title
Dangbaekjeon
Location
Sangpyeong Tongbo Galley

Explanation of Work

In November 1866, the third year of the reign of King Gojong of the Joseon Dynasty, the government issued Dangbaekjeon coins, which came to be used nationwide for about six months to raise additional funds through seigniorage. On the obverse of the coin printed Sangpyeong Tongbo (常平通寶), while the reverse showed Hodaedangback (戶大當百). Dangbaekjeon coins weighed only five to six times than Sangpyeong Tongbo coins, but its denomination was around 100 times that of the Sangpyeong Tongbo coins. The government stopped its minting in May 1867 since this high-value coin, which increased only face value, caused rapid inflation.

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