Vault of Iron Coins Throws New Light on Financial History

Archaeologists said the stringed iron coins found in north Hebei Province might have been the reserve money of a local government of the Song Dynasty (960 - 1279).

The coins were found after experts excavated an ancient city site in Cangxian County, Hebei Province. The coins were well cast and clustered by strings, said local researcher Wang Minzhi.

The unearthed site was later found to have sat on the relics of a local government, leading to the belief that the coins were once stored by the government as reserve money.

Wang said that the assumption, if proved true, would also challenge the consensus that the iron-cast money was only used in south China at that time.