NGC Registry Updated NGC Registry

ilLOminatus JP Silver Yen, 1886-1897, Circulation

Category: Japan
Set Type: Silver Yen, 38.1mm, 1886-1897, Circulation Issue
Owner: ilLOminatus
Last Modified: 10/28/2019
Views: 32

Rank: 4
Score: 1239
Leading by: 149
Points to Higher Rank: 865
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Set Description:

Japanese Silver Yen, legally defined by the Meiji government in the "New Currency Act of 1871" as 0.78 troy ounces of pure silver which equals to 24.26 gram of pure silver or 1.5 gram of pure gold, which follows the recommendation of the European Congress of Economists in Paris in 1867, which itself follows the Spanish standard of 1772. The coin itself weighs 26.96 gram of 90% silver.

This Yen coin series is of the 38.1mm (catalog number Y# A25.3) reduced size from the earlier 38.6mm , resulting in the thickness being adjusted to 2.76mm from 2.5mm

In 1897 Japan demonetized the silver one yen and trade dollar coins and many were melted. 20 millions were countermarked by the "Gin" stamp and exported to Korea, Taiwan and Manchuria as circulating coins there and to prevent them to be returned to Japan where they can be exchanged for gold. Tokyo Mint struck 2.1 million pieces with the "Gin" counterstamped on the right side while Osaka Mint struck 18,350,000 pieces on the left.

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