Abstract: In middle and late Ming Dynasty (1368–1644), a series of taxation and labor service reforms were carried out, putting an end to the traditional currency and financial systems while bringing about great changes to both the currency and financial systems of Yunnan. Roughly in middle 17th century when the Qing Dynasty (1644–1911) replaced the Ming, the silver-copper bimetallic standard was established in Yunnan, as it did in heartland China, forcing the two-millennium old physical currency system out of market. Rich mineral resources, especially copper reserves, of Yunnan proved helpful to development of metal currency here. Mining of copper not only played an important part in the development of Yunnan’s coin and currency, but also consolidated and developed the parallel currency system practiced in the Qing Dynasty. Based on results of previous researchers and using historical record chosen from perspectives of credibility and financiality, this paper presents an in-depth analysis of the reasons and process of coin minting of Yunnan in the Ming Dynasty and an exploration into its impact and modeling effect on Yunnan’s currency system at that time.

Key words: Yunnan in the Ming Dynasty, copper coin minting, replacement of seashells with coins, dual properties of value