Qing dynasty coinage (; Manchu: ; Möllendorff: Daicing jiha) was based on a bimetallic standard of copper and silver coinage. The Manchu-led Qing dynasty was established in 1636 and ruled over China proper from 1644 until it was overthrown by the Xinhai Revolution in 1912. The Qing dynasty saw the transformation of a traditional cash coin based cast coinage monetary system into a modern currency system with machine-struck coins, while the old traditional silver ingots would slowly be replaced by silver coins based on those of the Mexican peso. After the Qing dynasty was abolished its currency was replaced by the Chinese yuan of the Republic of China. Later Jin dynasty coinage (1616–1636) Prior to the establishment of the Qing dynasty, the Aisin Gioro clan established the Later Jin dynasty, named after the Jin dynasty of the Wanyan clan. Nurhaci had united the many tribes of the Jianzhou and Haixi Jurchens under the leadership of the Aisin Gioro clan, and later ordered the creation of Manchu script based on the Mongolian vertical script. In 1636, Hong Taiji renamed the realm to "Great Qing", and the Jurchen people into the Manchu people, while adopting policies which fostered ethnic inclusivity. In 1616, the Later Jin began producing their own cash coins, the coins issued under Nurhaci were written in an older version of Manchu script without any diacritics, and generally bigger than Later Jin coins with Chinese inscriptions. Under Hong Taiji these coins bore the legend that they had a nominal weight of 10 qián (or 1 tael) modelled after contemporary Ming dynasty coinage, but in reality weighed less. The following coins were issued by the Later Jin: History In 1644, the Qing dynasty captured Beijing from the Shun dynasty, and then marched south capturing the forces loyal to the Ming. One of the first monetary policies they enacted was accepting Ming dynasty cash coins at only half the value of Qing dynasty cash coins, because of this Ming era coinage was removed from circulation to be melted into Qing dynasty coinage, this is why in modern times even Song dynasty coins are more common than those from the more recent Ming dynasty. Early history At first the Qing government set the exchange rate between bronze and silver at 1 wén of bronze per lí (釐, or 厘) of silver, and 1000 lí of silver would be 1 tael (两), thus one