Dangbaekjeon Coins Issued

To pay for rebuilding Gyeongbokgung, the Heungseon Daewongun issued the dangbaekjeon, a coin rated at 100 times the Sangpyeong Tongbo, setting off steep inflation.

The rebuilding of Gyeongbokgung (from 1865) was costly and the French incursion of 1866 raised military spending, so in 1866 the Heungseon Daewongun had the dangbaekjeon cast. It was to pass for 100 Sangpyeong Tongbo coins, though the copper in it was worth far less, so money lost value and the price of rice and other goods soared. Together with the "voluntary" contributions (wonnapjeon) and a toll on those entering the capital’s gates, it angered commoners and yangban alike, and minting stopped the next year. Qing coins were then brought in, prolonging the confusion.