Sycee

A sycee was a type of silver or gold ingot currency used in China until the 20th century. The name derives from the Cantonese words meaning "fine silk" (presumably, Chinese: 細絲; pinyin: xìsī; Cantonese Yale: saisì). In North China, the word yuanbao (simplified Chinese: 元宝; traditional Chinese: 元寶; pinyin: yuánbǎo), rendered by 19th-century English writers as yamboo or yambu, was also used for similar ingots.

A boat-shaped sycee

Sycees were not denominated or made by a central mint and their value was determined by their weight in taels. They were made by individual silversmiths for local exchange, and as such the shape and amount of extra detail on each ingot were highly variable; square and oval shapes were common but "boat", flower, tortoise and others are known. Sycee can also refer to gold ingots minted in similar shapes.

History

Sycees were first used as a medium for exchange as early as the Qin Dynasty. During the Tang Dynasty, a standard bi-metallic system of silver and copper coinage was codified with 10 silver coins equal to 1,000 copper cash coins. Paper money and bonds were introduced in the 9th century. However, due to monetary problems such as inflation, and political uncertainty with changing regimes, metal coins remained the currency of choice. The tael was still the basis of the silver currency and sycees remained in use until the end of the Qing Dynasty. Common weights were 50 taels, 10 taels, and 5 down to 1 tael.

When foreign silver coins began to circulate in China in the later 16th century, they were initially thought of as a type of "quasi-sycee" and imprinted with chops just as sycees were.

Contemporary uses

<gallery> Image:ChinesenewyearSycee.jpg|Chinese new year sycee decoration Image:Burning-money-and-yuanbao-at-the-cemetery-3249.JPG|Imitation yuanbao burned at a grave]] Today, imitation gold sycees are used a symbol of prosperity by Chinese and are frequently displayed at Chinese New Year. Reproduction or commemorative gold sycees continue to be minted as collectibles.

Another form of imitation yuanbao - made by folding gold- or silver-colored paper - can be burned at ancestors' graves during the Ghost Festival, along with imitation paper money.

External links

• Examples of Chinese silver sycee (images)
• Sycee On Line
  • Chinese Sycee History at Sycee-on-line.com