Li, the first emperor of Qi State, minted the first coin of Southern Tang Dynasty. In the third year of Wu Tianzuo (937), Xu Zhimo (Li _) proclaimed himself emperor in Jinling (now Nanjing, Jiangsu), with the title of Daqi and Yuan (937-942). In the third year of Shengyuan, the title was changed to Tang, that is, Southern Tang. Its country name is Daqi, and it was Daqi Bao Tong when it was cast. So far, only two pieces have been found. In the past, there was a theory about casting in Korea, which was later rejected.

It was called "Bao Tong of Qi Dynasty" because before Emperor Wu gave way to him, he was made King of Qi. So when he ascended the throne, he was named "Da Qi". Because the national title "Daqi" has a short time and the amount of coins is very small, it is particularly precious and rare.

The casting age and owner of Daqi Bao Tongqian is one of the unsolved cases in the currency history of China. Daqi money was first seen in Dai's works in the late Qing Dynasty, and it was designated as casting money when Huang Chao established Daqi regime. Qin Baozan and others hold different views, thinking that this money was cast by Xu Zhisheng when he was king of Qi during the Ten Kingdoms period. The debate between the two theories began in this way.

Before and after the founding of the People's Republic of China, Xu Zhimo's theory was accepted by most theorists. In 1930s, Luo and Cenziqian re-examined this theory and thought: "Although Huang Chao was called the Emperor of Qi, he didn't really make money".

In the third year of Tianzuo, Xu Zhigu "usurped the position of Wu, founded the country as the emperor, became the title of Daqi, and changed the yuan to Ping. Daqi will be cast in this period ",Daqi's physical object" resembles the things of ten countries ",and the writing production is very similar to the Tang Dynasty money cast later by Xu.