In the khanate of Kokand, one of the countries existed from the beginning of XVIII century to the 70 s of XIX century in Central Asia, the process of business transaction in the relations of internal trade was carried out by means of the money of neighbouring khanates, especially by means of the coins of Bukhara and by exchanging goods until the 70s of XVIII century. Norbutabiy (1762–1798) put a money reform in force after he had sat on the throne of Kokand. According to the information, Norbutabiy minted copper coins (fuls) and these copper coins were called “black money” among the people. According to the information of Niyoz Muhammad Hukandiy, Norbutabiy put the black copper coins (fuls) into action and a sheep could be bought for one such kind of copper coin .
After Norbutabiy each khan who sat on the throne minted new money by his name and gathered the old one. Mostly, the khans of Kokand minted the brass or copper coins and some of them minted the gold coins too. Particularly, Norbutabiy minted copper coins, Olimkhan (1798–1810), minted copper and silver coins, Umarkhan (1810–1822), minted copper and silver coins at first and in the last years of his reigning he did money reform again and the first time in the history of the khanate he put the gold coins into action. Muhammadalikhan (1822–1842) did money reform two times during his reign and minted copper, silver and gold coins. Also, Sheralikhan (1842–1844), Hudayarkhan (1845–1858, 1862–1863, 1865–1875), Mallakhan (1858–1862) minted copper, silver and gold coins. Even, those who reigned for several months, such as Shahmurad minted gold and silver coins, Said Sultan minted gold, silver and copper coins, Pulatkhan and Nasriddinbek minted silver coins.
On one side of the coins of the Khanate the name of the sovereign’s who minted it, and on the other side the minted year and place were written. Particularly, on one side of the coin minted by Umarkhan “Musulmonlar amiri Sayyid Muhammad Umar Sulton (The emir of Muslims Said Muhammad Umar Sultan)” on the other side “1237 yil poytaxt Kokanda zarb etildi (minted in 1237 in the capital Kokand)” were written, on the coin minted by Muhammadalikhan there noted “Muhammad Ali-Gozi Umar ugli 1247” on one side, and “Poytaxt Kokanda zarb etildi, 1247 yil (minted in the capital Kokand, 1247)” on the other side , on the gold coin minted by Hudayarkhan there noted “Sayyid Muhammad Hudayarkhan 1274” on one side, and “Kokandi Latifda zarb etildi 1274 (minted in Kokandi Latif in 1274)”, and on the gold coin minted by Mallakhan there noted “Sayyid Muhammad Malla Bahodurkhan 1275” on one side, and “Kokandi Latifda zarb etildi 1275 (minted in Kokandi Latif in 1275)” .
The gold money of Kokand khanate was called as gold, silver coin is called as coin or Kokand, copper coin is called as brass or copper coin. Local people called the coins made of silver “white coin” and the coins made of copper were called “black coin”. The quality and the weight of the coins of the khanate were different. Muhammadalikhan minted gold coin weighed 1 misqal (a weight of 4.55 grams) in 1249 (1833–1834) and “Tilloyi ahmari a’loyi Hukandiy, zarbi amir Muhammad Alikhoni Goziy” was noted in its deed (document proving identity) . The gold coin minted by Hudayarkhan in 1274 (1857–1858) weighed 3,07 grams, The gold coin minted by Mallakhan in 1275 (1858–1859) weighed 4,58 grams . From 77.60 to 82.80 percent of Kokand gold coins in the 70s of XIX century was pure gold .
The silver coins of Kokand were also minted in different weight. Particularly, the weight of the silver coin checked in Tashkent Chemistry Laboratory in 1870–1871 was from 2,79 to 2,88 grams (0,75 misqal), the purity was 61–89,5 percent. At that time a good horse could be bought for such kind of 250 coins. .
The weight of the copper coins was also different, such as the copper coin minted by Norbutabiy weighed from 2,35 grams to 4,55 grams, Olimkhan’s copper coin weighed from 3,44 grams to 7,83 grams, Umarkhan’s copper coin weighed from 3,20 grams to 6,43 grams, and Muhammadalikhan’s weighed from 2,57 grams to 5,06 grams . As P. I. Nebolsin noted, 89–96 percent of the copper coin of Kokand was copper, and such kind of 24–25 coins were equal to 1 coin .
The value of the coins of the khanate changed in different times. According to the notes of Potanin who was in the khanate in the 30s of XIX century, a gold coin of Kokand weighed 1 misqal (a weight of 4.55 grams), a coin weighed 7/8 misqal, and a copper coin weighed about 1 misqal and one gold coin was equal to 20 silver coins, and one silver coin was equal to 76 copper coins . In the middle of XIX century one gold coin of Kokand was equal to 21 silver coins, 12 rubles 82 kopecks or 3 rubles 70 kopecks was equal to one copper coin. One silver coin was valued at 21 copper coins and sometimes it rose to 53–140 copper coins . As Ch.Ch.Valikhanov wrote, in the middle of XIX century one gold coin of Kokand was equl to 20–21 Kokand or 17 Bukhra silver coins, one silver coin was equal to 20 kopecks, 24 pul and 4 miri (a five-pence piece) and 6 pul was valued at 1 miri . In the 70s of XIX century 1 Kokand gold coin was equal to 19 silver coins or 3 rubles 80 kopecks silver, 1 silver coin was equal to 40 copper coins. A silver coin minted by Musulmonqul was equal to 24–32 copper coins, the silver coin in the time of Mallakhan was equal to 42–50 copper coins, after him a coin was equal to 60–64 copper coins, and sometimes it also was equal to 100 copper coins. 3 copper coins were equal to 1 kopeck silver .
The coins of Kokand khanate were also used in the markets(bazaars) of Khiva, Bukhara and Kashkar. In its turn in the territory of the khanate the Khiva, Bukhara, Kashkar, Chinese, Russian, Afghan and Indian coins were also used in the trade, buying and selling. There were money exchange shops in big cities of Kokand khanate. Particularly, in the biggest centers of the khanate such as Kokand and Tashkent the money exchange shops worked on Wednesday and Sunday .
The gold coins were made of the gold secretly brought in from the coast of Chirchiq, Koson rivers and Korategin and Sibir, and the silver coins were made of the Chinese silver yombis brought in through Kashkar, and the copper coins were made of the red copper brought in from Russia.
The Chinese yombi which weghed 430–440 misqal was met more in the markets of the khanate and its cost changed according to the political and economical situations. In the mint of Kokand in the 70s of XIX century a 440 misqal Chinese silver yombi was bought for 30 gold coins and sometimes a 432 misqal silver yombi was even bought for 31.5 gold coins and 640–700 silver coins were minted from one silver yombi .
In the middle of XIX century in Tashkent the red copper brought from Russia loaded on one camel was bought for 12 rubles 80 kopecks or 13 rubles 70 kopecks. During the years of 1840–1849 (for 10 years) 1547 pud (pud — a unit of measure equal to 16 kilograms), that is 13620 rubles 90 kopecks, and during 1850–1854s 5011 rubles copper was brought In the khanate of Kokand from Russia via Tashkent .
The head money-changer of Kokand bought copper, gold and silver from merchants. In the middle of XIX century a 100 misqal gold yombi was purchased for 90–95 gold coins, a 314 misqal silver yombi was bought for 20 gold coins, one botmon (botmon — a unit of measure app. 32–176 kilograms) of copper was bought for 22–28 gold coins. Lead was added in the amount of one fourth of a copper coin and lead was mined in the territory of the khanate and a botmon of lead was purchased for 15–16 gold coins. The head money-changer brought the metals he bought to the mint and had it noted in the scribe’s book .
In the capital Kokand near the khan’s Horde there was an only mint in the country. But according to the information, at the beginning of XIX century there was a mint of the khanate and copper coins were minted there . The Kokand mint had capacity of minting 1000 coins a day . In that mint 100 gold coins were minted from 100 misqal gold yombi, 640–700 coins were minted from silver yombi, and 36 thousand copper coins were minted from 1 botmon copper. 5 gold coins from every minted 100 misqal gold, 2 gold coins from one silver yombi and 13 gold coins from one botmon copper and lead were sent to the khan’s benefit. Also, the head money-changer and the other servants of the mint took a certain amount of profit. In the 60s of XIX century in the time of Aliquli who was a mingboshi (head of a local district or town, head of an army, commander) 100 coins a day, and 36 thousand yombi coins were minted a year. From the mint of Kokand the khan got 25000 gold profit a year .
In the khanate of Kokand serious measures were taken against making fake money. According to the information from archive, Hosilbek Kholnazarov, who was a citizen of the khanate, was taken under persecution when it was defined that he had made fake coins. Although he succeeded in run off from the khanate, special proclamations by the name of the khan were sent to the neighbouring khanates in order to capture him. In the khanate mehtar was responsible for controlling the process of producing coins-money . The tradition of exchanging goods didn’t lose its importance in the markets of the khanate.
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