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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 ] "
[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 Japanese to return to barter.
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).
The following is a list of Japanese pattern coins from the yen based currency system started under the Meiji Restoration. [1] The first patterns of the yen based system were made from 1869 to 1870 as presentation pieces to the Emperor. The new currency system was eventually adopted by the Meiji government in an Act signed on June 27, 1871. [1]
Mannen Tsūhō (万年通宝 aka 萬年通宝) is an early form of Japanese currency that was issued from 760 to 765 AD (Tenpyō-hōji 4 to 9) during the Nara period. These are also known as the second issue of Kocho Junisen under the Ritsuryo system .
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 mon was the currency of Japan from the Muromachi period in 1336 until the early Meiji period in 1870. It co-circulated with the new sen until 1891. Throughout Japanese history, there were many styles of currency of many shapes, styles, designs, sizes and materials, including gold, silver, bronze, etc.
Japan was later forced off of the gold standard in 1877 due to the cost of the Satsuma Rebellion. [9] Twenty years would pass before the Japanese government went back on the gold standard. During this lapse non circulating ten yen gold coins were made in two non-consecutive years for two different reasons.