The 1 yen coin of the Empire of Japan was first introduced in 1870 as part of the modernization and westernization efforts initiated during the Meiji Restoration. This coin played a significant role in the early stages of Japan's transition to a modern currency system.
Here are some key points about the 1 yen coin of the Empire of Japan:
Introduction: The 1 yen coin was one of the first denominations introduced by the Meiji government as part of its currency reform. It was initially minted in silver and featured a weight of 26.956 grams.
Design: The design of the early 1 yen coins typically featured a dragon on the obverse (front) side, which was a symbol associated with the emperor. The reverse (back) side usually bore the denomination "1 YEN" in Japanese characters.
Composition: Initially, the 1 yen coin was made of silver, reflecting Japan's adoption of the silver standard. However, as silver became scarce and more expensive, the composition of the coin changed over time.
Changes over Time: The design and composition of the 1 yen coin underwent several changes over the years to reflect evolving economic and political conditions. For example, during World War II, the coin was made of zinc due to shortages of metal resources.
Continued Use: Even after the Empire of Japan transitioned into the modern constitutional monarchy following World War II, the 1 yen coin continued to be minted and used as a denomination in Japan's decimal currency system.
Symbolism: The 1 yen coin, like other denominations of Japanese currency, carried significant symbolic meaning. It represented the authority of the emperor and the modernization efforts of the Meiji government, as well as Japan's integration into the global economy.
Today, the 1 yen coin remains in circulation in Japan, although its purchasing power has diminished significantly over time due to inflation. It is primarily used for small transactions and is often considered a symbol of good luck and prosperity in Japanese culture.