Hang Bac Street incorporated three different but related professions: casters of silver ingots, jewellery crafters, and silver (money) exchangers. Most of the street's residents were involved in one of these trades, and Hang Bac had the most skillful and experienced silversmiths.

The residents who lived here came from three villages: Chau Khe (Hung Yen) which is famous for silver ingots casting; Dinh Cong Thuong (Thanh Tri-Ha Noi) which is famous for Altar Products and Dong Sam village which is famous for Silver Jewelry casting.

In the Le Dynasty, Hang Bac Street was part of Dong Cac, Tho Xuong village. Then in the Nguyen’s Dynasty, Hang Bac Street became part of Dung Tho, tổng Huu Tuc later changed to tổng Dong Tho also in Tho Xuong village, Hoai Duc province.
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Under the French’s regime, Hang Bac Street was named Rue des Changeurs, meaning The Money Changers’ street.

Today, Hang Bac Street is 280 meters, form Hang Mam Street to the intersection of Hang Dao, in Hang Bac ward, Hoan Kiem district, Ha NOi city.

In the fifteen-century, silver coins became the standard currency for international transactions. Luu Xuan Tin, a high-ranking mandarin from Chau Khe village in Hai Hung province (south of Hanoi) established a silver ingot factory in the ancient commercial quarter. He located his factory in the area of present day Hang Bac Street and brought fellow craffters from Dinh Cong Thuong and Dong Sam into the capital to work .