Countermarked yen ("Gin")
History
In 1871, a new coinage law was promulgated which helped with the final establishment of the
The Japanese government officially recalled and demonetized all silver one yen pieces and Trade Dollars in 1897. Trade dollars in particular were recalled as their silver content was now greater than the competing Mexican Dollar.
Collecting
Countermarked yen are not considered damaged as the round "gin" mark meaning "silver" was officially placed by a government entity rather than by merchants (chopmarks).[7] There are two varieties of the circle "gin" mark which are split by place of origin and their placement on the coins. "Gin" marked coins that were stamped in Osaka are located on the left side of the coin, and are the most commonly found variety with a rough estimate of 10 million coins marked.[7][8] In contrast, those with a "significantly rarer" Tokyo "gin" mark have their stamp on the right side of the coin.[7] This latter variety is roughly figured to be a mere 1 million coins in comparison to the former.[8] The overall value of "gin" marked coins may be marginally affected depending on individual collector preferences.[9] This applies less to "very rare" dates which will sell at a premium regardless of a "Gin" mark due to their low survival rates.
See also
References
- ^ a b c Alfred Stead (1904). Japan by the Japanese. W. Heinemann. p. 326.
- ^ Gold Standard in International Trade. U.S. Government Printing Office. 1905. p. 485.
- ^ Richard S. Yeoman (1957). A Catalog of Modern World Coins. Whitman Publishing Company. p. 284.
- ISBN 0-87341-357-1), p. 1370.
- ^ ISBN 978-0-87341-422-7.
- ^ Cornell University (1903). Appletons' Annual Cyclopaedia and Register of Important Events. D. Appleton & Company. p. 354.
- ^ a b c "Collecting Japanese Silver Yen: The Dragon Yen 1870-1914". Antique Marks. Retrieved August 13, 2020.
- ^ a b "Japan 1870-1950 (obsolete)". Star City Homer. Retrieved August 28, 2023.
- ^ Star City Homer. "Japan Type Set #7460 Meiji, 1 yen, gin right, 1870-1896". NGC Collectors Society. Retrieved October 15, 2020.