Majapahit's Currency Revolution: Kepeng Coins and the Chinese Connection

In this episode, Lucas and Luna explore how Majapahit became the economic engine of the archipelago not through conquest alone, but through a quiet revolution in currency. They trace the origin of the Chinese copper cash—kepeng—that flooded Java under Emperor Hongwu and the Ming dynasty's ban on private trade. Lucas explains how Majapahit's ports, especially Surabaya and Tuban, became melting pots where Chinese junks, Indian cloth, and Moluccan spices exchanged hands using a standardised coinage that even the smallest farmer could use. The episode delves into the archaeological evidence from Trowulan, where thousands of kepeng have been unearthed, and the curious fact that Majapahit never minted its own coins—a sign of how deeply integrated it was with the Indian Ocean trade network. Luna asks about the 'ghost money' connection, and Lucas reveals how kepeng were used in local rituals, mixing economic and spiritual life. They also touch on the decline of this system when the Ming reopened private trade and the supply of Chinese coins dried up, contributing to Majapahit's economic vulnerability. A story of money, power, and the invisible currents that held an empire together. #Majapahit #Kepeng #ChineseCoins #Trowulan #Surabaya #Tuban #MingDynasty #Hongwu #CopperCash #IndianOceanTrade #EconomicHistory #Numismatics #GhostMoney #JavaneseHistory #Archipelago #History #FexingoHistory #SoutheastAsia #IndonesianHistory #HayamWuruk Keep every episode free: buymeacoffee.com/fexingo