Zhao State knife money at The British Museum, London

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Knife money of the Warring States period retained some distinctive features of real tools, including a ring and strengthening ridges on the handle. Northern states and northeast issuers produced knife money. Large, cast, bronze knives used as commodity money were produced by various governments and kingdoms in ancient China, approximately 2500 years ago. Knife money circulated in China between 600 to 200 B.C. during the Zhou dynasty. Several stories attempt to explain how knife money was introduced, but it is uncertain if any or all are true. One story involves a prince running low on funds to pay his troops allowing them to use their knives as currency to barter with villagers, which became widely accepted. In another tale, the same prince started accepting knives as payment for small fines instead of ring money. Knife money may have also been brought in by sea traders from the Indian Ocean. This pointed tip knife has a curved blade end but lacks a long pointed tip like needle tip knives. Finds of this type of knife money in northeast China associate it with the State of Yan. Recent years have seen hoards of up to 2,000 of these knives discovered, sometimes tied together in bundles of 25, 50, or 100. Over 160 different inscriptions have been recorded. Some inscriptions represent numbers or cyclical characters, but many remain undeciphered. Unlike hollow handle spade money, the characters are not generally associated with known place names. Their sizes and weights (11 to 16 grams) vary greatly, leading to various sub-types proposed by authorities.