Purchasing Capability - The Ming Dynasty
Value of Chinese Sycee Silver Tael during the Ming Dynasty
China experienced the greatest economic expansion in its history during the Ming dynasty (1368–1644). The economic of the Ming dynasty was a period of capitalism. The silver trade between the Americas and Europe and onward to Chinese Ming Dynasty from the sixteenth to eighteenth centuries (1500–1800) had a profound effect on the world economy.
The chart and figure below show value of goods during the Ming Dynasty under different Chinese Emperor Reign. From the cost in Silver Tael, collectors may be able to estimate the cost of living and the value of Silver Sycee during the period.
An average person consume 90 - 100 gram of rice every meal. 100 gram rice is equivalent to 0.1 liters.
|Year||Place||The Average Price of 100 Chinese Liters of Rice in Silver Taels|
|1st Year (1436)||Southern Yangtze River||0.25|
|12th Year (1447)||Changsu (Jiangsu)||0.25|
|13th Year (1448)||Jiangsi||0.25|
|2nd Year (1451)||Suchow (Jiangsu)||0.25|
|13th Year (1500)||Nanjing||0.2 - 0.3|
|2nd Year (1523)||Nanjing||1.3 - 1.4|
|23rd-24th Year (1544-1545)||Songjiang||1.5|
|32nd Year (1553)||Yangchow (Chekiang)||0.5|
|33rd Year (1554)||Kunshan (Jiangsu)||0.4|
|33rd Year (1554)||Yangchow||1.0|
|45th Year (1566)||Nanjing||0.4 - 0.6|
|After Wan Li 8th Year (1580)||Southern Yangtze River||0.3|
|16th Year, Summer (1588)||Nanjing||1.5 - 2.0|
|16th Year, Summer (1588)||Songjiang||1.6|
|16th Year, Winter (1588)||Songjiang||1.2|
|17th Year (1589)||Songjiang||1.6|
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