In approximately the year 1600, paper money was introduced into the Old Japan of the samurai in the province Ise Yamada.
These impressive notes were referred to as Hansatsu (notes of Han). 1 Han describes a Japanese fief.
These banknotes served as a substitute for small change, as the right to mint coins lay with the ruling Tokugawa Shogunate.
Gradually, more local princes and clans in their subordinate provinces began to issue banknotes.
The Hansatsu could be exchanged for their equivalent in silver or food, when required.
