The Jurchens swept control over northern China, conquering the Liao dynasty and half of the Song dynasty by 1142. Initially they did not have a unique currency of their own but reused the coinage of the Liao or Southern Song dynasty coinage. In 1154, Wanyan Liang issued the Jiaochao banknotes three years before minting their own distinct coinage, a sequence in Chinese history that has never happened before or since. Jiaochao came in ten denominations. Small bills came in 100, 200, 300, 500, and 700 "wén" while large bills were in 1, 2, 3, 5, and 10 "guàn". Like previous Chinese notes, there was a fee for redeeming them for copper coins: 15 "wén" per "guàn". Jiaochao initially had an expiration period of seven years upon issue but in 1189 this was abolished, giving notes an indefinite lifespan. Like other early Chinese paper currencies, it was a victim of overprinting which led to runaway inflation. In 1214, due to severe hyperinflation, the government began printing notes worth up to 1000 "guàn". The following year, Jiaochao was replaced with a new paper currency the Baoquan (寶泉) which suffered the same fate. Up until the Mongol conquest of the Jin dynasty in 1234, the state kept releasing new types of banknotes which were rejected by the public who were only willing to accept transactions in silver.