In 1939, Chiang Chung-chuan's (蔣仲川) book Illustrations of Chinese Gold, Silver and Nickel Coins (中國金銀鎳幣圖) said: "In the seventeenth year of the Daoguang's reign (1837), Zhang Wen (張溫) rose up in Du Bai Kou, Xin Zhen County, Tainan State, calling himself the Xingming Grand Marshal. He ordered the minting of the silver cake featuring the longevity god, weighing 7 mace and 2 candareens, and this kind of coin is commonly known as Old Man Dollar in Taiwan."
Since then, almost all numismatic books and journals have agreed with this statement, including the article about the Daoguang silver cakes in the first issue of the Chuan Pi (泉幣), Peng Xinwei's (彭信威) Chinese Currency History (中國貨幣史), Chang Huang's (張璜) Chinese Silver Dollar and Tael Catalog (中國銀圓及銀兩幣), Zhang Huixin's (張信惠) Illustrated Catalog of Chinese Coins (中國貨幣史話目錄), Eduard Kann's Chinese Currency, and Chinese Currency Through the Ages (中國歷代貨幣) by the People's Bank of China. All reference books have said so, so this has become accepted knowledge.
I have no idea which historical document Chiang Chung-chuan's conclusions are based on. I have searched many historical materials about the history of Taiwan and that of people fighting against the Qing government, but I could not find anyone named Zhang Wen in the historical records, and I do not know where Du Bai Kou, Xin Zhen County, Tainan State is which is referred to in the literature. It is also said that the silver cake was struck when Zhang Wen rose up against the Qing. Do you think it is possible? Since Zhang Wen called himself the Great Marshal of Ming, why did he still use Manchu script and the reign title of Daoguang of the Qing dynasty? The people in Taiwan fought against the Qing dynasty due to the oppression of the government. It was a momentary impulsive action, and it lasted only a year. Given the numerous varieties of the Old Man Dollar, it must have been produced for more than a year. Also, given there is a number of chopmarks, which means they were not in circulation for a short time, Zhang Wen could not have minted so many silver cakes within a year. Therefore, Chiang's claim is not credible.
On page 270 of the fifth edition of A Chinese Commercial Guide by S. Wells William, it says: "The provincial treasurer of Fuhkien issued a local coin in 1838, about the size of a Spanish dollar. The obverse bore a portrait of the god of longevity, with an inscription showing that it was cast in the reign Taukwang, and by the treasure scales weighed 7 mace 2 cand., and was struck with ying ping, i.e., 'a cake of pure sycee silver.' The reverse exhibited a tripod, denoting that it was a government coin struck for the army, with the legend Taiwan in Manchu, to show that it was cast in Formosa. The workmanship of this coin was very crude. In 1842, this piece had already depreciated in weight, and in 1845, it was 5 percent underweight."
From the historical records about Taiwan in the Ming and Qing dynasties, it can also be deduced that it is plausible that the silver cake was minted in the 18th year of Daoguang (1838) by the official mint bureau of the Taiwan treasurer rather than being minted by the Zhang Wen during the uprising.
Although the existing Old Man Dollars feature various chopmarks, the smiley face of the gold of Longevity is still the same. The chopmarks make the coin even more quaint and lovely, as an art of chopmarking!
The author has seen the following chopmarks:
Since then, almost all numismatic books and journals have agreed with this statement, including the article about the Daoguang silver cakes in the first issue of the Chuan Pi (泉幣), Peng Xinwei's (彭信威) Chinese Currency History (中國貨幣史), Chang Huang's (張璜) Chinese Silver Dollar and Tael Catalog (中國銀圓及銀兩幣), Zhang Huixin's (張信惠) Illustrated Catalog of Chinese Coins (中國貨幣史話目錄), Eduard Kann's Chinese Currency, and Chinese Currency Through the Ages (中國歷代貨幣) by the People's Bank of China. All reference books have said so, so this has become accepted knowledge.
I have no idea which historical document Chiang Chung-chuan's conclusions are based on. I have searched many historical materials about the history of Taiwan and that of people fighting against the Qing government, but I could not find anyone named Zhang Wen in the historical records, and I do not know where Du Bai Kou, Xin Zhen County, Tainan State is which is referred to in the literature. It is also said that the silver cake was struck when Zhang Wen rose up against the Qing. Do you think it is possible? Since Zhang Wen called himself the Great Marshal of Ming, why did he still use Manchu script and the reign title of Daoguang of the Qing dynasty? The people in Taiwan fought against the Qing dynasty due to the oppression of the government. It was a momentary impulsive action, and it lasted only a year. Given the numerous varieties of the Old Man Dollar, it must have been produced for more than a year. Also, given there is a number of chopmarks, which means they were not in circulation for a short time, Zhang Wen could not have minted so many silver cakes within a year. Therefore, Chiang's claim is not credible.
On page 270 of the fifth edition of A Chinese Commercial Guide by S. Wells William, it says: "The provincial treasurer of Fuhkien issued a local coin in 1838, about the size of a Spanish dollar. The obverse bore a portrait of the god of longevity, with an inscription showing that it was cast in the reign Taukwang, and by the treasure scales weighed 7 mace 2 cand., and was struck with ying ping, i.e., 'a cake of pure sycee silver.' The reverse exhibited a tripod, denoting that it was a government coin struck for the army, with the legend Taiwan in Manchu, to show that it was cast in Formosa. The workmanship of this coin was very crude. In 1842, this piece had already depreciated in weight, and in 1845, it was 5 percent underweight."
From the historical records about Taiwan in the Ming and Qing dynasties, it can also be deduced that it is plausible that the silver cake was minted in the 18th year of Daoguang (1838) by the official mint bureau of the Taiwan treasurer rather than being minted by the Zhang Wen during the uprising.
Although the existing Old Man Dollars feature various chopmarks, the smiley face of the gold of Longevity is still the same. The chopmarks make the coin even more quaint and lovely, as an art of chopmarking!
The author has seen the following chopmarks: