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The first Japanese one-yen coins were minted between 1871 and 1872 using both silver and gold alloys. [1] [2] This came at a time when a new decimal system was put into place, and a modern mint was established at Osaka.
The one rin coin (一厘銅貨) was a Japanese coin worth one one-thousandth of a Japanese yen, as 10 rin equalled 1 sen, and 100 sen equaled 1 yen. [1] The coins are no longer in circulation, but they are bought and sold both by professional numismatists and by amateur coin collectors .
Japanese cash coins were officially demonetised in 1891 after officially circulating as a division of the Japanese yen with an exchange rate of 10.000 mon for 1 yen. [ 8 ] [ 9 ] [ 10 ] Kōchōsen
Countermarked one yen coin showing the "gin" stamp on the obverse left side. (stamped in Osaka) Countermarked yen refers to Japanese trade dollars and 1 yen coins that are stamped 銀 (gin), literally meaning "silver" (pronounced with hard 'g'). The countermark was added by the Japanese government in 1897 to these coins dated up to that point.
In 1946, following the Second World War, Japan removed the old currency (旧円券) and introduced the "New Yen" (新円券). [1] Meanwhile, American occupation forces used a parallel system, called B yen, from 1945 to 1958. Since then, together with the economic expansion of Japan, the yen has become one of the major currencies of the world. [9]
In 1897, the silver 1 yen coin was demonetized and the sizes of the gold coins were reduced by 50%, with 5, 10 and 20 yen coins issued. After the war, brass 50 sen, 1 and 5 yen were introduced between 1946 and 1948. The current-type holed brass 5 yen was introduced in 1949, the bronze 10 yen in 1951, and the aluminum 1 yen in 1955.