Japanese One Yen Silver Coin

The Japanese silver one yen coin is a large denomination introduced during the Meiji currency reforms. Following the official adoption of the yen by the Meiji government on 27 June 1871 and the establishment of a decimal coinage system, the silver one yen was authorised alongside gold issues. Although the earliest silver one yen pieces bear the date 1870, reflecting their manufacture at the San Francisco Mint, they were first released into circulation in 1871. The denomination was intended primarily to compete against the silver Mexican dollar in overseas commerce and East Asian trade.

Following a brief pause in 1873, silver one yen production resumed in 1874 specifically for external trade. In 1878, Japan adopted a bimetallic monetary standard, extending legal tender status to the silver coin throughout mainland Japan, where it co-circulated alongside gold issues until 1897. Fluctuations in silver bullion values eventually prompted the Japanese government to return to the gold standard on 1 October 1897. The silver one yen was demonetised, with an exchange leeway period granted until 31 July 1898. Millions of demonetised pieces were melted down for subsidiary coinage or stamped with a "Gin" countermark for circulation in Japanese-occupied territories, including Taiwan, Korea, and Lüshunkou. Struck again between 1901 and 1904 as a reserve fund for Bank of Formosa banknotes, production of the silver one yen officially ended in 1914, during the third year of Emperor Taishō's reign.

Struck in silver, the coin depicts a coiled dragon on the obverse. The reverse design features a wreath, a chrysanthemum crest, and official legends. In accordance with Japanese minting practice, the date of manufacture is expressed in Japanese era regnal years and requires conversion to the Western calendar. Certain specimens also bear the distinctive "Gin" countermark applied following the coin's domestic demonetisation.

Some examples may also display a stamped "Gin" countermark.