The first modern style circulating coins of Japan, 1870-1871
M3(1870) YEN TYPE II

Owner Comments:

JNDA 01-9. The dragon obverse, sun reverse silver one yen is dated Meiji 3 only (vs. the lesser denominations bearing both M3 and M4 dates).

The JNDA references four major types in its price guide. Krause refers to types I, II and III. The latter three types are distinguished by features of the yen character on the obverse including size of one stroke and completeness of another part of the character. The JNDA divides the first type into sub categories as well depending on rim/no rim variety.

This coin is type two.

The gold 1 yen was the basic monetary unit established under the Meiji restoration. The silver yen was intended for use in treaty ports and were not initially to have circulated outside these areas. This was changed by a later coinage act and the silver yen coins became legal tender throughout Japan (though of a differing design by then) until the silver yen coin was demonetized for domestic use.

38.58 mm in diameter, 0.900 fine silver, weight 26.96 grams.