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Known as:
蟾蜍 chánchú
Toad
金蟾 jīn chán
Golden Toad
招财蟾蜍 zhāocái chánchú
Wealth-Beckoning Toad
Set as jewels on the Money Toad's back is the constellation of the Big Dipper or Northern Ladle Constellation (Běi dǒu xīng 北斗星) which rotates around the North Star (Běi jí xīng 北极星). This celestial constellation is seen as the chariot or seat of the Celestial Emperor, who keeps the harmonious balance of Yin and Yang, rulership over the 4-cardinal directions, and the 5-elements. This imbues the Money Toad with good fortune to protect one's space from bad luck.
Associated with Yin energy and the Moon:
It is believed the Chinese Moon Goddess Chang'e, drank the Elixir of Immortality then flew to the moon to escape. The elixir was stolen from her husband the Archer, Houyi. As punishment, Chang'e was transformed into a three-legged toad. Some believe the three legs represent the 3 phases of the Moon: waxing, full, and waning.
The Ch'an Chu Money Toad symbolizes wishes of wealth and abundance:
It is also said that the toad swallows the moon during a lunar eclipse. Because of this, the unique three-legged toad became a symbol of bringing unattainable wishes within reach.
It is also said that a Money Toad (not Moon Goddess Chang'e) is a companion of the Taoist immortal Liu-Hai. Ch'an-chu was a mythical beast who provided the sage instantaneous transportation allowing him to go wherever he needed. As the legend goes, the toad frequently sought the cool darkness of wells, and could only be lured out with a string tied with coins. The Money Toad's love for wealth and money represents its talent for seeking out riches wherever they may be hidden, gathering them up, and protecting them from others who wish to steal them away.
Placement rules/How to use:
There are 2 types of Money Toad statues, those with a coin or jewel in its mouth, and those with an empty open mouth. For those with a coin/jewel, be sure to face it near the front door as if it were coming into your home bringing wealth and riches with it. (If the mouth is empty and open, face it outward as if fetching the money to bring back.)
If so inclined, more traditionally, before first placing your Money Toad, you may touch a tiny bit of Green Tea oil (NOT Tea Tree!), or brew a fresh cup of green tea and touch a tiny bit of the liquid to the Money Toad's eyes. This is a tradition of waking the spirit of the Money Toad. Some even regularly leave a tiny cup of water or fruits for the Money Toad as well, but be sure to change the water and keep it fresh, and do not leave the fruits to rot. Toss them out before they spoil.
Author Lillian Too suggests facing your Money Toad outward during the day to go out and collect money and riches, then turning the Money Toad to face inward every night to bring back the wealth.