1 Yen Type II
“There is something very fascinating in the study of Far Eastern coins. They do not appeal to us through any pictoral effect, but a subtle and impersonal charm pervades their inscriptions and the sentiments which they set forth.”
Since Neil Gordon Munro opened his seminal text “Coins of Japan” with these words in 1904 a select few in the West have continued to enjoy collecting Japanese coins. The ‘pictoral effect’ of modern coinage has improved steadily since it was introduced in 1870, but it remains the window to another culture that is the most compelling aspect of studying Japanese coinage. JapaneseCoins.net provides videos, photos and articles that will inspire new collectors, and help those building sets to navigate their next purchases.
Nobody can say for certain when Japan started using coins. Cloth and rice plants were the mediums of exchange in ancient times, and as recently as the mid-Twentieth century rice plants were still being bartered in rural Japan. One of the oldest histories of Japan, the Nihon Shoki of 720 AD, indicates that metal coins were used in 487 AD, but whether these came from Korea, China or Japan is unknown. It was not until the reign of the Emperor Temmu (Temmu’s reign lasted from 672 until his death in 686) that copper coins were widely circulated. However, as with all of Japan’s historical records pre-700 it is difficult to determine what is accurate history and what is myth-making. It is not until the minting of the Wado Kaichin in 708 that there is undeniable evidence of Japanese coinage.
That begun the era of the twelve antique coins which we will discuss in this article:
- Wado Kaichin
- Kaiki Shoho, Taihei Genpo & Mannen Tsuho
- Jingu Kaiho
- Ryuhei Eiho
- Fuju Shinpo
- Showa Shoho
- Chonen Daiho
- Myokei Shinpo
- Jokan Eiho
- Kanpei Daiho
- Engi Tsuho
- Kengen Daiho
These coins are known as the the Kocho Juni Sen, and were the first Japanese coins of the 12 different reigns from the 8th to 10th Century. However, the coins were not a total success. When a new coin was issued it was usually at a rate of one coin for ten of the previously issued coin, but people were reluctant to give ten coins for one and this lead to a steadily decreasing mintage for each of the Kocho Juni Sen. A further challenge to a domestic currency was that higher quality coins produced in China were used as currency.
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Wado Kaichin
The Wado era, under Empress Genmyo, commenced 708 AD and in that same year the Wado Kaichin was produced as a standardized coin. Copper coins were minted in the first year, and silver followed in 709. The Wado Kaichin continued to be produced for a further 51 years, and it was calligrapher Fugiwara Yogyo who holds the mantle of designing Japan’s first coin. The name Wado Kaichin was printed on the obverse of the coin and it means ‘Japanese copper initial treasure.’ The coin was based on the Chinese coin Kaigen Tsuho and in 720 Chinese advisors traveled to the mint in Nara to advise on production. As a result of their expertise the coin quality improved markedly after 720, and coins produced after that point were known as Shin Wado (new Wado).
It was in the reign of Emperor Junnin that things moved on from copper, with gold coins (Kaiki Shoho), silver coins (Taihei Genpo), and copper coins (Mannen Tsuho). However, these coins were not widely circulated and there is only one remaining specimen of the Kaiki Shoho so the only collectors that have that one are the Imperial Family. The coin was discovered by workmen in 1794 as they worked on the Saidaiji Temple in Nara. It made its way to the Imperial Family when it was presented as a gift to Emperor Meiji when he visited the temple.
The next major coin was the Jingu Kaiho which was cast in copper in 765AD. It was issued because people had been hording coins and there was a nationwide shortage. However, it was issued at a rate of 1 to 10 of the old coinage and people remained reluctant to trade 10 old coins for 1 new one. It took an order by Emperor Konin in 772 AD that fixed old and new coinage at the same rate to alleviate the problem. Pity the people who hadn’t hoarded Japanese coins before the proclamation was made!
The copper piece Ryuhei Eiho was introduced in 796 AD at a rate of 1 to 10 of the old coins. The Ryuhei Eiho remained in production for 22 years and was followed by another copper coin in 818 AD: the Fuju Shinpo. This in turn was followed by the Showa Shoho in 835 AD.
Emperor Ninmyo took the throne in 848 AD and one of his first orders of business was to issue the new copper coin Chonen Daiho. It is not known whether the words on the obverse of the coin are the work of Ninmyo or Fujiwara Yoshiaki. Emperor Seiwa also issues a new coin in the first year of his reign – the Myoeki Shinpo. Later on in his reign (870 AD) he issued the Jokan Eiho, so named after the Jokan era in which they were produced.
The eleventh of the antique coins, kanpei daiho, was issues in the second year of kanpei (890 AD). They were issued for 18 years and the designs of the obverse are thought to be those of the Emperor Uda. It is also possible that the designs of those of Fujiwara Ujimune or Sugawara Michizane. The design was updated in 907 AD with the reign of Emperor Daigo, and was issued at the rate of one to ten of the older coins. It was a coin with a longevity of 50 years. This contrasts to the Kengen Daiho which was only produced for a few years following its introduction in 958 AD under the rule of Emperor Murakami.
For the next 600 years Japan was to have no new domestic coinage. The Kocho Juni Sen, Chinese coins and Korean coins were used, along with a lot of counterfeit currency.
