Looks like it could be heavily tarnished silver, with a cupric deposit on it. Hardly ancient, more like antique...
I don't collect Japanese coins but all the specimens of the ichi bu gin coins that I have seen over the years have had a different reverse side. The reverse side usually indicates the name of the mint and a character guaranteeing the fineness. This coin has the same inscription on both the obverse and reverse sides. Can anyone confirm that there are authentic coins with a double obverse? Gary
I agree with you, I have a small collection of ichi bu coins also, and this doesn't look like them - notice the counterstamp is not present. It is probably not too likely, but this could be a provincial issue in bronze - indeed they were made but they are rather scarcish. This piece appears to be cast also, which suggest that form of manufacture was used for this piece.
I'll look in my older Krause catalogue in the morrow to see if I can find any "1" denomination - like a rin or sen for a provincial coinage. During the Shogunate era coinage in Japan was not as centralised - especially for lower value coins. There is another member who has apparently not yet seen this thread that might be able to fill in some details - since he could be able to read more on it than I can read the numeral "1".
It does not look genuine to me to be honest. Fonts just doesn't look right. Will look up a reference when I get around to it.
Thanks scottishmoney - looks like I'll have to put more than a couple of cents in this. Here's an example over at ebay. http://www.ebay.com/itm/Japan-Old-c...3343624?pt=US_World_Coins&hash=item338452b008 As you can tell, the flora pattern on what's shown here just seems to be rather crude. This particular type of coin actually has filed edges for security measure as well as a counterstamp to ensure that the coin has been checked. Note that this particular type of coin was struck in various alloys - from 80% silver up to 99% (!) silver if I am not mistaken. This can only be determined by the strokes which is just too difficult to explain without illustrations.