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Banknotes of the Japanese yen, known in Japan as Bank of Japan notes (Japanese: 日本銀行券, Hepburn: Nihon Ginkō-ken/Nippon Ginkō-ken), are the banknotes of Japan, denominated in Japanese yen . These are all released by a centralized bank which was established in 1882, known as the Bank of Japan. The first notes to be printed were ...
The Japanese government established a convertible bank note system by Dajo-kwan Notification No. 18 in May 1884. [36] Concurrently, the amount of old paper currency in circulation decreased allowing the amount of silver reserves to grow. This drove up the value of paper currency until it was about equal to that of silver coins by the end of 1885.
This convertible paper currency was used in immense numbers while coined yen was seldom used or seen. [17] Gold ten yen coins of the second design (1897 to 1910) mostly remained in government vaults by the time mintage ceased for good in 1910.
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 . [ 11 ] [ 12 ] It was first minted in 708 CE on order of Empress Genmei , Japan's 43rd Imperial ruler. [ 11 ] "
The New Currency Act of 1871 introduced Japan's modern currency system, with the yen defined as 1.5 g (0.048 troy ounces) of gold, or 24.26 g (0.780 troy ounces) of silver, and divided decimally into 100 sen or 1,000 rin. The yen replaced the previous Tokugawa coinage as well as the various hansatsu paper currencies issued by feudal han (fiefs).
Like its predecessor, the series C note measured 164 x 76 mm. It entered circulation on 1 November 1963. The obverse side contained a portrait of Itō Hirobumi, who, under Emperor Meiji, was the first Prime Minister of Japan, assuming office in 1885. [8] The reverse side displayed an image of the Bank of Japan.
These new notes were first issued on December 1, 1953, causing the "A" notes to quickly be redeemed. While the first silver 100 yen coins were minted in 1957, the note form continued to circulate alongside the coins. The beginning of the end for the 100 yen note came on August 26, 1966, when the Japanese cabinet voted to abolish the note.
The ¥10,000 note (Japanese: 1万円紙幣, Hepburn: Ichiman-En Shihei) is a yen banknote circulated in Japan. It is the highest denomination of banknote currently issued by the Bank of Japan. Apart from the commemorative 100,000 yen coin, it is the highest denomination of the Japanese yen.