Sycee

A sycee was a type of silver or gold ingot currency used in China until the 20th century. The name derives from the Cantonese words meaning “fine silk”. In North China, the word yuanbao, rendered by 19th-century English writers as yamboo or yambu, was also used for similar ingots.

Sycees were not denominated or made by a central mint and their value, like the value of the various silver coins and little pieces of silver in circulation at the end of the Qing Dynasty was determined by experienced moneyhandlers known as “shroffs” who estimated the appropriate discount based on the purity of the silver and evaluated the weight in taels and the progressive decimal subdivisions of the tael (mace, candareen and cash). Sycee were made by individual silversmiths for local exchange, and as such the shape and amount of extra detail on each ingot were highly variable; square and oval shapes were common but “boat”, flower, tortoise and others are known. Sycee can also refer to gold ingots minted in similar shapes.