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Japan's first formal currency system was the Kōchōsen (Japanese: 皇朝銭, "Imperial currency"). It was exemplified by the adoption of Japan's first official coin type, the Wadōkaichin. [3] It was first minted in 708 CE on the orders of Empress Genmei, Japan's 43rd Imperial ruler. [3] "
The first Japanese cash coins were the Wadōkaichin (和同開珎) which were produced from 29 August 708. [3] [4] [5] In 760 Japanese currency was reformed and gold and silver cash coins were introduced, however by the end of the 10th century the value of Japanese coinage had severely fallen combined with a weak central government led the ...
The wadōkaichin was first produced following the discovery of large copper deposits in Japan during the early 8th century. [6] The coins, which are round with a square hole in the center, remained in circulation until 958 CE. [7] These were the first of a series of coins collectively called jūnizeni or kōchō jūnisen (皇朝十二銭). [8]
Initially, the coinage was used essentially for export purposes in order to pay for imports of luxury goods from China, such as silk. [2] As gold and silver were in short supply, and also because the government was running a deficit, the content of gold in coins was decreased on two occasions, in 1695 and 1706–11, in order to generate more revenues from seigneurage, but with the effect of ...
Instead he theorized that the coins were made by private individuals in Japan using silver produced in Korea. [6] Japanese historian Shinji Nishimura (1879-1943) referred to entries in the 12th year of the Hakuhō period for the silver mining in Tsushima. While he came to the conclusion that the coins may have been used as a type of ornament ...
As Bitasen coins were no longer allowed to circulate within Japan, Japanese traders started selling them on foreign markets for profits, especially on the Vietnamese market where a huge influx of Eiraku Tsūhō and Kan'ei Tsūhō coins from Japan made the Japanese mon the de facto currency of the region.
Fuhonsen (富本銭) is an early form of Japanese currency that was created around 683 (Tenmu 12) during the Asuka period. Its suggested that these coins were minted before the creation of the Wadōkaichin in 708 based on an entry in the Nihon Shoki. Theories differ as to whether this coin actually circulated or was used as a Chinese numismatic ...
The current aluminum coin was first introduced in 1955 with a floral design. The obverse has a young tree, intended to symbolize the healthy growth of Japan. The reverse side of the coin has a figure "1" in a circle that represents one yen; below the digit is the year of issue which is written in kanji. [19]
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