Dear Reader,
Money is a bit like oxygen. We all need it to function in society. But also like oxygen, it works best when we don’t notice it (usually when people notice money and finance, it’s because something’s gone wrong).
But numismatics—the study and collection of money and coinage—is a fascinating field as well as an engaging hobby.
The notes and coins in our wallets or on our bank ledgers tell interesting stories. They record the economic and social experiences of our recent as well as more distant ancestors.
This month, Island Folklore explores the story of the Taiwan dollar and its immediate predecessor—the Taiwanese yen. We’ve previously published a story on older currencies in Taiwan (older even than the Taiwanese yen). We’ll have a link to that story down below as well!
Enjoy!
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The Taiwan Dollar: The Story of How It Came to Be
The Taiwan dollar is Taiwan's legal tender. This is the story of the modern Taiwanese currency and its predecessor the Taiwanese yen!
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The new Taiwan dollar (symbol: NT$; code: TWD)—often referred to simply as the Taiwan dollar—is the official Taiwanese currency. And here's a (linguistic) quirk about Tawian's legal tender. It is technically a dollar-denominated currency like the USD. But why, in Mandarin, are Taiwanese prices typically quote in yuan, like the Chinese RMB?
Well, back in the 19th century, the most common “trade dollars” in the Pacific were the Spanish and Mexican silver dollars. And…
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Got a story to pitch to us?
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If you know of any Taiwanese folktale, history, legend, myth or tradition that you'd like to share, let us know! Get in touch via the button below!
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Bolivian Silver and Nagasaki Cash
The fascinating, global story of early Taiwanese money.
Read more »
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The Dutch East India Company and Its Taiwanese Legacy
This is the story of how the Dutch East India Company arrived in Taiwan, named it, yanked it from its slumber and pushed it upon the world stage!
Read more »
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Support Island Folklore
Like what you see? Consider donating and help keep this project going for as little as $1 a month!
Island Folklore: Taiwanese Tales & Traditions, an online repository of Taiwan's folktales, history, legends, myths and traditions, is published and managed by the Island Folklore Club.
Our mission:
- To collect and preserve Taiwanese folk traditions for future generations.
- To explore and showcase Taiwan's diverse and unique blend of cultures.
- To educate and enable Taiwanese communities worldwide to take pride in the shared Taiwanese heritage.
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