Sycee

A sycee /saɪˈsiː/ was a type of silver or gold ingot currency used in China until the 20th century. The name derives from the Cantonese word meaning "fine silk" (presumably Chinese: 細絲; pinyin: xìsī; Cantonese Yale: saisì), as quality silver was supposed to have a silky sheen. In Chinese, they are called yuanbao (simplified Chinese: 元宝; traditional Chinese: 元寶; pinyin: yuánbǎo, abbreviation of Kaiyuan tongbao).

Sycee were made by individual silversmiths for local exchange; consequently, 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.

Sycees were not denominated or made by a central mint. 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 (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).