A Study on the Knife Money(Myeongdojeon)

The knife money (Myeongdojeon) was a currency that began to be minted in the Yan state during China's Warring States period. It was used over a long period in a wide region extending from northeastern China to the Korean Peninsula. Additionally, it had a significant influence on Korean archaeology, particularly in the establishment of the slender bronze dagger (細形銅劍) culture, the emergence of pottery with a clay band rim (粘⼟帶⼟器), and the setting of the early Iron Age. Despite its importance, research on knife money itself has been insufficient. Therefore, this paper compiles knife money and examines its characteristics. This study classified knife money based on its metric and nominal attributes. As a result, it was found that various types of knife money existed over time in the northwestern region of the Korean Peninsula, where many sites of hoarded remains have been confirmed. This indicates that the function and nature of knife money changed over time. Knife money was independently issued in the Yan’s surrounding region, but its value as currency gradually declined. This phenomenon can be seen as a result of inflation, likely caused by the relocation of the capital to Liaodong, the unification of China by the Qin state, and subsequent currency reforms. In the surrounding regions, although the coins lost their function as currency, their unique property as bronze metal led to the creation of new value as an exchange medium. Knife money not only presents issues regarding the transmission of artifacts but also leaves the upper chronological limit provided by the coin itself unclear. Additionally, as time passes and the nature of the coin changes, it becomes difficult to estimate the dates of other artifacts, such as ironware, and archaeological sites and remains.