It's the question, not the prize! - WINNER ANNOUNCED Both pictures are of the same coin, just at different display sizes. Clark Smith (coinvault.com) has it for sale, and no matter what someone we all know and love may say, I think Clark is a top-notch gold coin dealer. So there! There is something very unusual about this coin (and its 109,999 fellow escapees from the Japan Mint in its year of issue). The forum member who posts what I consider to be the best explanation of what that is will receive a Meiji era copper. The contest ends at 7:30 p.m. Pacific Daylight Time on Tuesday, October 25. There will be no appeal from the judge's discretionary decision!
Ok my first guess wasnt on the mark... Coin : Japan 1897 Meiji 30 Gold 5 Yen History: The Bank of Japan was established in 1882, when the Finance Minister, Masayoshi Matsukata, believed that the best way to stabilise Japan's currency was to establish a central bank with the sole right to issue fully convertible banknotes, that is, notes that can be exchanged for their value in precious metal such as gold or silver. However, the first notes that were issued by the new Bank of Japan were not fully convertible. From 1885 they were only convertible into silver coins. The falling price of silver worldwide in the 1890s pushed Japan to follow the gold standard. This meant that all Japanese currency would be valued at fixed quantities of gold. A new Currency Law was formulated in 1897 in order to bring the Japanese currency into the gold standard. It stipulated that one yen, the basic unit of the new currency system of Japan, would be worth 750 milligrammes of pure gold. This 20 yen coin is one of the new denominations that were issued as Japan joined the gold standard. Two other gold coins were issued: the 10 yen and 5 yen coins, as well as six smaller denominations in silver, cupro-nickel and bronze. The new Currency Law of 1897 also stated that Bank of Japan notes would be convertible into the new gold coins. Diameter: 28.5 mm Weight: 16.65 g
My guess is that... In 1871 the gold standard was adopted making 1 yen equal to 1.5g of Gold and in 1897 (the year of this coin) the value of 1 yen was changed to 0.75g of gold but the mint made 110,000 5yen's with 1.5g of gold in them, making them worth more then 5yen's. Hope Im right
Hi, The last little part of the story is that because of the amount of gold in them vs: the face value on the coin, they ended up circulating for twice their face value. Have Fun, Bill
Boy is it hard finding info on this coin (well it was for me at least ) Got the weight info and foundinrolls is right, the 5 yen was changed from .2411 to .1206 (troy ounces), the wight of 10 yen became .2411(from .4823).
This coin is the small version introduced in mid-year when Japan devalued its gold standard by one half. It's claim to fame is that it was, for a while, the only Japanese gold coin circulating at face value, as the other denominations were not minted in 1879, and the older ones (and about half of the year's total production of ¥5 coins) were now worth twice their face value. Skylark will receive a Meiji era copper which I'll pick out at random from a box of 2x2s.
