Abstract:The rise and migration of the Hephthalites left a significant impact on the exchange of East-West civilizations,and the empire they established was one of the inevitable problems in the study of Silk Road trade. The internal structures of various types of Hephthalite coins were relatively complex,among which some types independently divided were closely related,which reflected regional characteristic and unity under the domain of Hephthalite Empire from the perspective of numismatics. The coins were the product of political conquest,reflecting the evolution of the power and reign scope of the Hephtalites,and the result of the mutual influences of civilizations,embodying the characteristics of pluralism and unity. The Hephthalite Empire played an important intermediary role in the exchange of East-West civilizations,ensuring the stable development of the Silk Road in the 5th and 6th centuries and laying the foundation for the prosperity of the Silk Road during the Sui and Tang Dynasties. The period from the end of 5th century to the early 6th century was the zenith of Hephthalite Empire when the alliance between Hephthalites and Sasanians was established and the Hephthalites expanded to Tarim Basin and southward to North-West India. Therefore,The Hephthalite coins mainly circulated in the places which the Hephthalites dominated,the Sassanian silver coins that were paid tribute to Hephthalite were the main medium of exchange for the eastward extension of the Sogdian trade network under the rule of the Hephthalite Empire.
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