A question about the value of some Japanese Coinage.
MrBreeze
Posts: 1,036 ✭✭✭
I am relatively new to World coins, but I have purchased several books, and I am putting together a list of coins that I like. A while back, I saw a couple of coins that caught my eye, and the more I read, the more complicated things get. The coins are as follows:
1897 20 Yen ANACS 63
1870 2 Yen ANACS 61
Both gold.
Now, when I look these coins up in my references, there is a note about "year" and rarities of certain varieties for the 2 Yen. With the 1897, there is the question of the revaluation that started that year, and other notes. Also, in studying the archives, I have seen reference to the release of Japanese gold coins by the MOF. Is it safe to say that the coins are dated, so, in essence, the "year" has been determined. Can I just look at the date and the type and say it is "X" value? With all these factors, are the values listed in the Krause books correct? What are the values (roughly) of these two coins? Thank you, in advance, for any information you can provide.
1897 20 Yen ANACS 63
1870 2 Yen ANACS 61
Both gold.
Now, when I look these coins up in my references, there is a note about "year" and rarities of certain varieties for the 2 Yen. With the 1897, there is the question of the revaluation that started that year, and other notes. Also, in studying the archives, I have seen reference to the release of Japanese gold coins by the MOF. Is it safe to say that the coins are dated, so, in essence, the "year" has been determined. Can I just look at the date and the type and say it is "X" value? With all these factors, are the values listed in the Krause books correct? What are the values (roughly) of these two coins? Thank you, in advance, for any information you can provide.
0
Comments
The modern Japanese coinage was first minted in 1870s, the third year of the Meiji era. The 'old type' gold coins include those minted prior to 1897, and depicted the stylized dragon on one side and the sunburst crest within the 'sacred mirror' design surrounded by the crossed imperial military banners on the other side. The production of the 20 yen coin was for a 33.33 gram coin of .900 fineness. 10, 5, 2 and 1 yen coins were also minted. Subsequently the 5, 2 and 1 yen coins were reduced in diameter after1870/71, but retained the same weight and fineness. Thus the 5, 2 and 1 yen have the 'old type, reduced size' designation. The 20 and 10 did not change diameter.
Starting in 1897 the gold content was decreased. The 'new type' gold coins include the 20, 10 and 5 yen only. The new 20 yen is 16.67 grams of .900 gold. The design changed to the sunburst/mirror depiction dominating one side (without the imperial flags) and the other showing the denomination prominently with a paulownia and chrysanthemum wreath and the chrysanthemum crest.
As for value, it depends
A couple of standby English language references include Jacobs/Vermeule Japanese Coinage and Michael J. Cummings Modern Japanese Coinage (second edition). Both can be occasionally found on ebay at reasonable prices. Unfortunately Mr. Cummings passed away as he was often the seller of the latter, and I believe someone else mentioned he was working on the third edition, but did not complete it.
Cathy
<< <i> Rumor has it the Japanese dealers stick to catalog. >>
At the Osake Coin Show a few years ago dealers were paying ~70-75% of JNDA, and asking 100-115% for common coins, and even more for key dates and all gold.
<< <i>Mr. Cummings passed away . . . someone else mentioned he was working on the third edition, but did not complete it. >>
I suggested it to him several times, but he wasn't very receptive to all the work it would have involved.
A couple of years ago I was able to purchase a gold ¥1 from Clark Smith. Even though it had a loop soldered to the edge I had to pay a little more than JNDA for the grade. An expert jeweler was able to remove the loop with the only sign it was there being damage to two of the reeds under 5X magnification.
Bottom line - Japanese gold is not cheap!
However, old (Meiji 4 - 1868, ¥1, 1.67g .900 gold, 13.5mm)
or new (Heisei 2 - 1990, ¥100,000, 30g 1.0000 gold)
<< <i>it's all very beautiful! >>
(Hi Roy