Another economic change instituted by Wang Mang—a fairly disastrous one—has been to issue twenty-eight types of coins, made of gold, silver, tortoise shells, sea shells, and copper.

Because there are so many kinds of coins (in contrast to the one kind used under the Han dynasty), people have become unable to recognize the kinds of coins as genuine or as counterfeit, and the money-based economy has come to a halt.

Wang is forced eventually to abolish all but two kinds of coins—the small coin that has the same value of a Han coin, and the large coin that has the value of fifty small coins.

However, the people, despite fairly severe penalties, have lost faith in the Xin coins, and continue to use Han coins in an underground trade economy.

In an attempt to refill the depleted imperial coffers in 17, Wang institutes six monopolies—of liquor, salt, iron, coinage, forestry, and fishing.

However, because of rampant corruption, the imperial treasury receives only limited benefit, while the people are greatly burdened.