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The 1-yen coin (一円硬貨, Ichi-en kōka) is the smallest denomination of the Japanese yen currency. Historically they were initially made of both silver and gold in the early 1870s. Issues facing the Japanese government at the time included wanting to adopt the gold standard, and competing against the Mexican dollar for use in foreign trade ...
The first gold yen coins consisted of 2, 5, and 20 yen coins which were struck throughout 1870. Five yen coins were first struck in gold for the Japanese government in 1870 at the San Francisco Mint. [25] During this time a new mint was being established at Osaka, which did not receive the gold bullion needed for coinage until the following ...
There is a misconception among the Japanese public that Giza 10 (ギザ10, Giza Ju) (yen made between 1951 and 1958) are worth a lot of money because of their reeds. On average these coins are worth only 3 to 4 times their face value, or in some cases just their face value. [ 31 ]
Following 1868, a new currency system based on the Japanese yen was progressively established along Western lines, which has remained Japan's currency system to this day. Immediately after the Meiji Restoration in 1868, previous gold, silver and copper coins, as well as feudal notes, continued to circulate, leading to great confusion.
[69] [70] They are estimated to be worth in the low millions of yen. [68] An overall assessment on coins made from 1873 to 1906 has common dates valued at 1000 yen in average condition. Rare dates include; 1874, 1901, and 1902 (Meiji 7, 34 and 35) and are potentially worth more than 10,000 yen in average condition.
The adoption of a 1 ⁄ 20 yen coin would have made it the lowest ever valued in Yen. It was ultimately rejected in favor of the 5 sen coin. [38] 1 ⁄ 10 yen 3rd 三 1870 KM-Pn11 KM-Pn12 The design of this coin is unknown. Two varieties were struck, one in copper and the other in white metal. Both were rejected in favor of the 10 sen coin. [39 ...
The reasons behind this move were that Japan's gold reserves were again being depleted, and allowing the yen to depreciate would help the economy which was struggling at the time. [10] Gold coins of the 20 yen denomination were last minted in 1932, it is unknown how many Shōwa era coins were later melted.
The 10,000 yen coin is a denomination of the Japanese yen, and is only used for the issue of commemorative coins struck by the Japan Mint. 10,000 yen coins were first issued in the mid/late 1980s in silver but were later switched to gold. These non consecutive commemorative gold coins have been released ever since to collectors.