The trading of goods in the early days was based on exchange of goods but subsequently as the local currencies of the respective traders became accepted as trading currencies of these trading centers, these currencies became a trading medium. Over time, local currencies were issued by the early governments. Being a region rich in gold and tin, it was only natural that these metals were used for the currency. Tin that was found in abundance in the Malay Peninsula and Archipelago advanced from goods to trade for to also being used as a trading medium and currency in the form of ingots (blocks or bars), animal ingots and animal figures and conventional coins.
These ingots that were used in the form of lump (block or bar) ingots initially, later evolved into the forms of animals and even insects. Various types of tin blocks were produced; mound-shaped, cone decorated with serrated edges, conical or cylindrical or cylindrical-shaped, mountain or shrine-shaped and sugar loaf-shaped, pyramid or pagoda-shaped and pyramid-shaped with mangosteen rosette pattern [Source: Bank Negara Malaysia, 2005. Malaysia Numismatic Heritage, Corporate Services Department, Bank Negara Malaysia].
The appearance of animal and insect like ingots is also said to have its roots in the tin mining practices and rituals of the tin miners. Intertwined by its purpose in tin mining activities and use as a currency, the reason(s) for the creation of tin animal ingots became a mystery and will remain as one without more records or evidence of their actual use and purpose. The general theory is that these animal and insect like ingots were first made to serve their magical purpose in tin mining and later somehow became accepted as a trading medium.
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