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This coin was issued during the reign of Emperor Zhenzong, the third ruler of the Northern Song dynasty, in the early decades of the 11th century.
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 period 1008?1016 corresponds to a phase of relative stability under the reign of Zhenzong. Following the conclusion of the Shanyuan Treaty in 1005 with the Liao dynasty, the empire's northern borders enjoyed a lasting peace. In exchange for the annual payment of silk and silver to the Liao, the Song benefited from a favourable environment for economic development and the consolidation of their administration.
In 1008, Zhenzong organised the Feng and Shan ceremonies at Mount Tai, exceptional imperial rites intended to assert the legitimacy of his power and the heavenly favour he claimed. This period was also marked by the growth of commercial exchanges, the expansion of cities and increasing monetary needs. In order to sustain this booming economy, the state maintained significant production of bronze coins, of which this issue is a representative example.