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2 sen coin

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The 2 sen coin (二銭硬貨) was a Japanese coin worth one-fiftieth of a Japanese yen, as 100 sen equalled 1 yen.[5] Two sen coins were minted during the Meiji period, and are made from nearly pure copper. Priority was initially given to silver coins when the new yen currency system was adopted in 1871 as copper coins could not be produced yet. Aside from a design change and a two year lapse, two sen coins were made from 1873 to 1884.[c] The two sen coin was then discontinued and eventually demonetized in the mid-20th century. These coins are now sought after as collectors items which bring premium amounts depending on the date and condition.

Two Sen
Japan
Value+1⁄50 Japanese yen
Mass14.26 g
Diameter31.8 mm
EdgePlain
ShapeCircular
Composition98% Copper
2% Tin and Zinc[1]
Years of minting1873–1884
1892[a]
Obverse
DesignDragon figure surrounded by legend.[b]
Reverse
DesignEmblem of the Imperial family.

History

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Two sen coins were introduced on August 29, 1873 by government notification stating that they were to be double the weight of a sen.[6] This came about two years after a new currency system was adopted by the Meiji government in an act signed on June 27, 1871.[7] The new coinage gave Japan a western style decimal system which was based on units of yen which was broken down into subsidiary coinage of sen, and rin.[8] Silver coins in general (starting at 5 sen) were prioritized over copper coinage as the technology to produce the latter was considered to be poor at the time.[1] Each two sen coin was struck in a copper alloy, which was authorized to weigh 220 grains (14.26 g) with a 1.25 inch diameter (31.8mm).[9][10] The obverse features a dragon with the date of reign, while on the reverse a wreath design is used with a Chrysanthemum seal located above surrounded by the words "50 for one yen" in Kanji. Both sides of the coin have the value "2 sen" written in both English and Kanji.[11] Two sen coins were legal tender only up to the amount of 1 yen which was fixed by government regulations.[12] Only trial coins dated year 6 were produced in 1873 before the denomination was officially issued for circulation in the following year.[13][14]

The dragon on the obverse side of the coin was later altered in 1877. Two different major coin varieties were made that year when the scales on the dragon were changed from a square pattern to a V-shaped pattern.[15] No coins are dated from year 11 or 12 (1878 and 1879) as a sufficient amount of 2 sen had already been issued in the years preceding.[13] While production resumed in 1880 with coins dated year 13, the continuation of the issue would be short lived. Two sen coins were eventually discontinued in 1884 as their large size had caused them to be inconvenient.[1][16] It is possible that non circulating two sen coins were made again in 1892 (year 25) for display at the World's Columbian Exposition.[a] The coins continued to retain their legal tender status until the end of 1953 when the Japanese government passed a law abolishing subsidiary coinage in favor of the yen.[17]

Two sen coins are now bought and sold as collectibles with some more rare than others. The value of any given coin is determined by survivability rate and condition as collectors in general prefer uncleaned appealing coins. Coins dated 1873 (year 6) are worth the most as their mintage is small when compared to the other dates.[13][18]

Circulation figures

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2 sen coin from 1873 (year 6)

Meiji

The following are circulation figures for the two sen coin, all of which were minted between the 6th, and 25th year of Meiji's reign. The dates all begin with the Japanese symbol 明治 (Meiji), followed by the year of his reign the coin was minted. Each coin is read clockwise from right to left, so in the example used below "九" would read as "year 9" or 1876.

  • "Year" ← "Number representing year of reign" ← "Emperors name" (Ex: 年 ← 九 ← 治明)
Year of reign Japanese date Gregorian date Mintage
6th 六 1873 3,949,758[19]
7th 七 1874 Unknown[19]
8th 八 1875 22,835,255[19]
9th 九 1876 25,817,570[19]
10th 十 1877 (Square scales)[d] 33,097,868[20]
10th 十 1877 (V-scales) 43,290,398[21]
13th 三十 1880 33,142,307[22]
14th 四十 1881 38,475,569[22]
15th 五十 1882 43,572,187[22]
16th 六十 1883 19,476,164[22]
17th 七十 1884 12,090,586[22]
25th 五十二 1892 Not circulated[a]

Notes

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  1. ^ a b c Several unique coins dated 1892 are known to have been produced to display at the World's Columbian Exposition.[2] While there are no known existing examples of two sen coins dated 1892 (year 25), they are mentioned by Krause Publications.[3]
  2. ^ In numismatic terminology, a "legend" is a formal inscription found around the margin of a coin.[4]
  3. ^ Not including those made in 1892.
  4. ^ Two varieties were made in 1877 regarding the dragon's body on the obverse side of the coin. One variety has the dragon with "square" scales, while the later variety has the dragon with "V" scales.[15]

References

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  1. ^ a b c "2銭銅貨". www.buntetsu.net (in Japanese). Retrieved December 28, 2018.
  2. ^ "Japan: Meiji gold Proof 10 Yen Year 4 (1871) PR66 Cameo". Heritage Auctions. Retrieved August 19, 2020.
  3. ^ "Japan 1/2 Sen Y# 16.2 Yr.25(1892) None struck for circulation". Numismatic Guaranty Corporation. Retrieved September 15, 2020.
  4. ^ "Coin Term Glossary". United States Mint. 3 June 2016. Retrieved October 2, 2020.
  5. ^ John Crowdy (1873). "The British Almanac". Stationers' Company. pp. 112–113. Retrieved October 2, 2020.
  6. ^ "Brief History of Coinage Laws Since 1871". Annual Report of the Director of the United States Mint. United States Department of the Treasury. 1899. p. 345.
  7. ^ A. Piatt Andrew, Quarterly Journal of Economics, "The End of the Mexican Dollar", 18:3:321–356, 1904, p. 345
  8. ^ Wm. Crosby and H.P. Nicholes (1873). "Coinage at Home and Abroad". The Bankers' Magazine, and Statistical Register. Vol. 27. p. 983.
  9. ^ "The Japan Daily Mail". 1874. p. 745.
  10. ^ "Monetary System of Japan". Report and Accompanying Documents of the United States Monetary Commission, Organized Under Joint Resolution of August 15, 1876. Vol. 2. U.S. Government Printing Office. 1877. p. 276.
  11. ^ "2 Sen, Japan, 1877". American Museum of Natural History. Retrieved September 25, 2020.
  12. ^ "Commercial Notes". Monthly Summary of Commerce and Finance of the United States. U.S. Government Printing Office. 1900. p. 2264.
  13. ^ a b c "二銭銅貨". Pepper's Square. Retrieved September 22, 2020.
  14. ^ "明治以降の貨幣" (PDF). www.imes.boj.or.jp (in Japanese). Retrieved October 2, 2020.
  15. ^ a b "Japan Type Set #7460 Meiji, 2 sen, v-shaped scales, 1877-1884". NGC Collector's Society. Retrieved September 25, 2020.
  16. ^ "Japan 5, 10, 20, 50 Sen and 1 Yen (Fakes are possible) 1873 to 1900". www.coinquest.com. Archived from the original on October 4, 2011. Retrieved August 30, 2016.
  17. ^ "小額通貨の整理及び支払金の端数計算に関する法律" [A law of the abolition of currencies in a small denomination and rounding off a fraction, July 15, 1953 Law No.60]. www.shugiin.go.jp. Archived from the original on June 28, 2002. Retrieved December 5, 2016.
  18. ^ "【永久保存版】2銭硬貨の価値はいくら？買取価格＆平均相場《全種類》". Kosen Kanti. 3 December 2019. Retrieved September 30, 2020.
  19. ^ a b c d "Japan 2 Sen (1873 to 1876)". Numismatic Guaranty Corporation. Retrieved December 28, 2018.
  20. ^ "Japan 2 Sen Y# 18.1 Yr.10(1877)". Numismatic Guaranty Corporation. Retrieved December 28, 2018.
  21. ^ "Japan 2 Sen Y# 18.2 Yr.10(1877)". Numismatic Guaranty Corporation. Retrieved December 28, 2018.
  22. ^ a b c d e "Japan 2 Sen (1880 to 1892)". Numismatic Guaranty Corporation. Retrieved December 28, 2018.
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