Commemoration of the printing of the first paper money in Iran during the Ilkhanate era

728 years ago, on this day in February 1294, the first Iranian paper money was printed during the reign of Gikhato.

This event was due to the extensive relation of Iran during the Ilkhanate era with China. During the reign of Gikhatukhan, the Mongol ilkhan, Iran, like China, printed paper money called “chav”.  The mogul rulers of Chinese “Yuan” dynasty, were already using paper money in the country for two decades. Sayyid Ajal Shamsuddin Bukhari was the first governor of China’s Yunnan province and was appointed by the Mongol rule. He was from Bukhara. For 20 years (May 683-658) Sayyid Ajal was prime minister of the Kublai Khan tribe and the Chinese lands. During his ministry, the paper money, which was called “Chao” or “Chav,” was printed and distributed, like done by the people of southern China.

By the order of Gikhatukha, the work of preparing paper money called “Chav” began in Tabriz and in a place called “Chavkhaneh,” which four months later replaced gold and silver coins throughout the territory of this Khan and this money became the currency. This was done by the order of the great Mogul Khan, who lived in Khan Baligh, Beijing. The great Khan, who ruled over all the local rulers of the Mogul empire, from Russia to the Korean peninsula, and from Euphrates River to the Indus River, had introduced paper money in China since 1271 because gold and silver in China were not enough to cover the high costs. After all, the gold and silver in China were not enough to cover their heavy and extravagant expenses.

The history of paper money in China, which was printed as a “blockchain,” dates back to 600 AD, but it was not a permanent currency.  The government continued minting coins from gold, but when they got short of gold, paper money was printed as a kind of draft or money order by the treasury, and later, when the shortage of gold was solved, the paper money was collected; its owners went to the treasury and its dealers and delivered the paper money and got gold and silver in exchange.

Den (religion) is a Persian word and means conscience, insight, and introspect that has been placed in every human being by Ahura Mazda, to help him find the right path to pave.

Daena (den) is the name of the 24th day of each month in the Zoroastrian calendar, and the guardianship of the twenty-fourth day of the month is given to the god of religion (Den Izad). Den is the name of an Izad (god) of the Zoroastrian gods, the guardian of the pen. On this day children are sent to learning institutions.

Abu Rayhan al-Biruni has mentioned the name of this day as “Den” in the list of Iranian days, and in the Soghdian language it is also called Den and also in the Kharazmi language. Den derived from the word “Daena”, is of the same meaning as Sorush, meaning conscience.

Insight has been put by Ahura Mazda into every human being so that he can find the right and proper path in life with its power and walk in it.

In Sanskrit, Gathas, and other parts of the Avesta, the word “daena” occurs eight times. Den in Gathas has different meanings, like faith, religion and Sorush.

Ferdowsi has a verse about this Izad:

Your faith should be people’s happiness

And your religion should be honesty and chivalry

 

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June 9, 2025