Liao dynasty coinage

The Liao dynasty was a Khitan-led dynasty of China that ruled over parts of Northern China, Manchuria, the Mongolian Plateau, northern Korean Peninsula, and what is modern-day Russian Far East from 916 until 1125 when it was conquered by the Jin dynasty. Remnants of the Liao court fled westward and created the Western Liao dynasty which in turn was annexed by the Mongol Empire in 1218.^[1]

Liao dynasty coins were based on the cash coins of the Song dynasty but generally tend to be of inferior quality, early Liao dynasty coins were only rarely produced and not before the reign of Emperor Xingzong (1031–1055).^[2]

Liao dynasty coins (like some contemporary Song dynasty coins) can be read top-right-bottom-left (clockwise), but unlike the Song's coinage never appeared top-bottom-right-left. Liao dynasty era coins have appeared in both Chinese and Khitan scripts.^[3][4] The coins in Khitan script do tend to have different character orders,^[5] Though these coins weren't meant for circulation.^[6]

Liao dynasty cash coins were cast with a reddish copper-alloy.^[7] They were typically crude, unevenly cast, and with poor calligraphy.^[7]

Liao coinage is extremely rare compared to Song dynasty coinage. While the Song dynasty produced millions of strings of wén annually, the Khitans never exceeded 500.