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This coin was issued during the reign of Emperor Zhenzong, the third ruler of the Northern Song dynasty. It belongs to the Jingde era, which spans from 1004 to 1007.
It bears an inscription engraved in regular script (kaishu), a calligraphic style characterised by the clarity of its strokes, the rigour of its structure and the balance of its composition. Particularly valued for its legibility, this script was widely used on the official monetary issues of the Song dynasty.
Historically, the Jingde era is marked by a major diplomatic event. Following the Khitan campaign of 1004, the Song empire and the Liao dynasty concluded the Treaty of Shanyuan in 1005, bringing an end to several decades of recurring conflicts between the two powers. Under this agreement, the Song committed to paying an annual tribute to the Liao in the form of silk and silver, while both states officially recognised their coexistence on equal diplomatic footing. Although this arrangement was sometimes perceived as a concession, it secured lasting peace on the northern frontier and allowed the Song empire to focus its resources on internal development.
It is in this context of renewed stability that the administration continued to strengthen its institutions and supported the country's economic growth. Monetary production remained sustained in order to meet the growing needs of commercial exchange, making the issues of the Jingde era a direct testament to the prosperity and consolidation of the Song state at the beginning of the 11th century.