2016-02-06 Sat

A rare 400 cash banknote which dates back to the first emperor of the Ming dynasty was auctioned off on 14th April last year at Stack’s Bowers auction, with an opening bid of $60,000. The note was released between 1368 and 1398 and has a historical significance, making it a collector’s choice. Only two such large format bills exist today, out which one of them is displayed at a museum.

During the final years of Yuan Dynasty’s regime (1271 - 1368), a peasant's uprising broke out against the Mongols. In 1352 Zhu Yuanzhang, a local young man from a peasant family joined the army when the rebel army captured Haozhou (currently Fengyang in Anhui Province). Zhu excelled in all the battles and was chosen as the general by a rebelling warlord named Guo Ziyi. After the death of Guo Ziyi, Zhu took control and relentlessly worked on his dream to take control over all of China. In 1356, Zhu conquered city of Jiqing, changed its name into Yingtian and established his own military base there. After continuous efforts over several years, Zhu's army rose in power. From 1360 to 1367, his army managed to eliminate the remaining separatist military forces.

In 1368, Zhu Yuanzhang officially proclaimed himself the emperor in Yingtian and founded the Ming Dynasty.