“Ingot-silver melted at the capital”

The inscription on this ingot is repeated six times across the upper surface. The preserved condition of this ingot means the inscription can be identified as “Ingot-silver melted at the capital”. The capital was at Lin’an, in modern day Hangzhou province. This inscription allowed the ingot to be verified, no matter how far it traveled, and demonstrate that they were produced for official use. Such inscriptions allow us as researchers to learn more about the provenance of the ingots, as well as other important information. During the excavation of the Intan wreck in the Java Sea, one hundred silver ingots were recovered. Once the thick layers of corrosion had been removed, it was revealed that many contained inscriptions indicating the weight and quality of the silver and the mint from which they originated, for example: “Sword office high grade silver of 52 liang certified by the official Chen Xun” Michael Flecker, The Archaeological Excavation of the 10th century Intan Shipwreck (2002) BAR International Series 1047, p.91. The ingots were mostly found in two specific parts of the wreck site, indicating they were stacked for safe storage. However, ingots were also found distributed throughout the shipwreck, suggesting that individuals on board kept their own ingots in private quarters Michael Flecker, The Archaeological Excavation of the 10th century Intan Shipwreck (2002) BAR International Series 1047, p.91.

But why were there silver ingots on board in the first place? What does their presence tell us about currency, resources, and trade in the 10th century?