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This coin was issued during the reign of Emperor Taizong, the second ruler of the Northern Song dynasty.
The legend Tai Ping Tong Bao is inscribed in Clerical script (lishu), characterised by regular and balanced strokes, typical of classical Chinese administrative calligraphy.
The issuance of this coin takes place within a particularly rich historical context. Taizong ascended to the throne in 976, under circumstances that remained obscure, following the sudden death of his brother Taizu, founder of the dynasty. His reign was marked by an active policy of territorial reunification: he annexed the Northern Han kingdom in 979, thereby completing the unification of the greater part of China. However, his ambitions of northward expansion were met with resistance from the Liao dynasty of the Khitans, which inflicted several significant defeats upon the Song armies, notably at Gaoliang in 979 and during the campaigns of 986. These military setbacks led the Song to adopt an essentially defensive strategy against the Liao.
On the domestic front, Taizong continued to strengthen the central administration and developed the imperial examination system, fostering the rise of a solid and lasting civil bureaucracy.