This one is obviously very different from, and with any luck considerably more valuable than, the first two. The provenance is as follows: My paternal uncle (my fathers brother) was in Japan immediately after Japan's surrender and stayed for almost the entire occupation, returning to the US in late 1951 or early 1952. He was stationed in Nagoya for most of that time, and purchased (or traded for) these during that period. He returned laden with Japanese antiquities in bewildering variety and value...most of which he gave away over the following fifty years. Among what remained were these (and a few other) coins. They were found in a cotton coin belt of double-flap construction that could be worn around his waist without any danger of them falling out, even if the belt were put on upside down or inside out...a very clever contraption almost certainly made to his specifications. There were no rubber bands, as keepers or elsewhere, with that belt. The 'rubber-band' marks, also please note, are aligned on all three coins WITH the vertical axis of the coin when viewed correctly...and show exactly identical alignment on the reverse. So I have questions about the cause of those gray stains. What little I purport to know about this coin is courtesy of an old friend who dabbles in silver coinage, and who generously did some research for me when I received them, upon uncle's death. Type II was explained to me then, but all I recall is that there is a small difference in the shape of part of a character on one side. The 'curl' in the Dragon's Ball was mentioned in a posting in this Forum some years ago, that I read just tonight. Again, I welcome your questions, and comments. I hope the pics are of reasonably acceptable quality to allow good examination. Thanks.
What you have is a Type I (Krause Y#5.1) example of Japan's first .900 silver ¥1 coin, dated Meiji 3 (1870). The calligraphy of the character for yen (to the left of bottom dead center) was struck with dies having three slightly different forms. In Type II the stroke at the lower left, above the bottom line, extends further toward the vertical left line. Although your provenance shows that it pre-dates the Chinese replica factories, it was a frequently counterfeited coin in its own time. That said, I see no signs in your pictures that cast doubt on it's authenticity. It should be 38.58mm in diameter and weigh 26.96g. The circular object in the dragon's claws is referred to as a pearl, and the spiral correctly turns counterclockwise on your example. The better known ¥1 design exemplified by Ripley's picture of a Meiji 28 (1895) coin has a clockwise twist on its pearl, except for part of the first year production in Meiji 7 (1874). Type I is the most common and understandably catalogs at the lowest price. Using the current Japanese Numismatic Dealers Assn. catalog, which I consider to be the most accurate price guide for these issues, I would value your coin in the $1-2,000 range, but to the right collector at the right auction, it might go much higher. I'm not sure the "rubber band" toning would affect the value as this is a highly desirable coin that doesn't hit the market every day. If you decide to sell it, I recommend consignment to one of the major auction houses.
It is 1.523"/38.7mm diameter, and weighs 17.4dwt/27.1gm. My scale is a cheap digital, never calibrated; the same is true of my calipers.
