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CHOPMARKED COINS: JAPAN: Meiji, 1868-1912, AR yen, year 16 (1883), Choice VF

Currency:USD Category:Coins & Paper Money / Chinese Coins - Chopmarked Coins Start Price:55.00 USD Estimated At:75.00 - 100.00 USD
CHOPMARKED COINS: JAPAN: Meiji, 1868-1912, AR yen, year 16 (1883), Choice VF
SOLD
100.00USD+ (20.00) buyer's premium + applicable fees & taxes.
This item SOLD at 2022 Jul 12 @ 10:29UTC-7 : PDT/MST
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CHOPMARKED COINS: JAPAN: Meiji, 1868-1912, AR yen, year 16 (1883), Y-28a.1, with gin countermark left for Osaka mint, with several large Chinese merchant chopmarks, plus a few etched characters in obverse margin, Choice VF. In October 1897, Japan revalued the gold yen, and changed from a combination silver/gold standard to an exclusively gold standard. For the next six months silver yen were exchangeable for gold. Part of the demonetized silver coins were melted for use in minting subsidiary coins, and the rest were available to export to Taiwan, Korea and southern Manchuria, Shanghai or Hong Kong for use as bullion silver. Before being exported, they were countermarked with the character for silver (gin), in a circle, to prevent them from being returned to Japan for another shot at exchange for gold. The gin countermark appears in a specific position - to the left or right of the ichi (one) character on the reverse. Krause states that the main Mint at Osaka applied the mark on the left side, and the subsidiary Tokyo Mint applied it to the right.