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<p>[QUOTE=&quot;hontonai, post: 1580250, member: 4703&quot;]What you have is a Type I (Krause Y#5.1) example of Japan&#039;s first .900 silver ¥1 coin, dated Meiji 3 (1870).&nbsp; The calligraphy of the character for yen (to the left of bottom dead center) was struck with dies having three slightly different forms.&nbsp; In Type II the stroke at the lower left, above the bottom line, extends further toward the vertical left line.&nbsp; </p><p><br /></p><p>Although your provenance shows that it pre-dates the Chinese replica factories, it was a frequently counterfeited coin in its own time.&nbsp; That said, I see no signs in your pictures that cast doubt on it&#039;s authenticity.&nbsp; It should be 38.58mm in diameter and weigh 26.96g.</p><p><br /></p><p>The circular object in the dragon&#039;s claws is referred to as a pearl, and the spiral correctly turns counterclockwise on your example.&nbsp; The better known ¥1 design exemplified by Ripley&#039;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).</p><p><br /></p><p>Type I is the most common and understandably catalogs at the lowest price.&nbsp; 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.&nbsp; I&#039;m not sure the &quot;rubber band&quot; toning would affect the value as this is a highly desirable coin that doesn&#039;t hit the market every day.</p><p><br /></p><p>If you decide to sell it, I recommend consignment to one of the major auction houses.[/QUOTE]</p><p><br /></p>

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