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This cash-type coin was issued during the reign of Emperor Huizong, during the Zhenghe era, between 1111 and 1118, under the Northern Song dynasty.
The coin features an inscription written in seal script (zhuanshu), characteristic of issues personally calligraphed by Huizong, who was renowned for his mastery of calligraphy.
Historically, the Zhenghe era (1111-1118) took place in a context of relative internal stability, although the Northern Song empire was under increasing pressure from its northern neighbours. The Liao dynasty, long a rival in the north, was progressively weakened by the rise of the Jurchens, founders of the future Jin dynasty. Wishing to take advantage of this situation, Huizong entered into negotiations with the Jurchens with the aim of recovering the Sixteen Prefectures lost to the Liao. This strategic alliance, known as the Alliance Concluded at Sea, did indeed bring about the fall of the Liao, but it considerably strengthened the power of the Jin. A few years later, the Jin turned against the Song, triggering a series of invasions that culminated in the Jingkang Incident of 1127, marked by the capture of Kaifeng and the seizure of Huizong and his successor.
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