oct 1, 1573 - Formalisation of Coinage 1573
Description:
With melting, counterfeiting, illegal exchanges and re-stamping all increasing in frequency, the existing system of tax receipt tokens implemented by Masuka had shifted in nature. Over the decades, the copper coins themselves had become a store of value and a popular medium of exchange.19 years into his reign, Debān Kasujin officially sanctioned this new use. Taxes, tributes and fines were to be paid using copper cash (rather than regional goods such as furs or grains), and the salaries of soldiers and other statesmen were similarly paid.
The Ki is a mass-produced coin made from mould-cast copper, with production beginning in 1573.
Added to timeline:
Date:
oct 1, 1573
Now
~ 452 years ago