Interest in large oval Japanese gold coins and commemorative gold coins is deep-rooted among Japanese collectors as exemplified in a recent successful bid at a price of more than 30 million yen for a 2 yen gold coin issued in 1880.

In Europe, there are royal family-related commemorative coins, but according to Japan’s Finance Ministry, the first commemorative coins issued in Japan were those commemorating the 1964 Tokyo Olympic Games—80 million 100-yen silver coins and 15 million 1,000-yen silver coins.

‘‘They triggered a coin boom in Japan. At the peak time, a 1,000-yen silver coin was sold at a price of nearly 20,000 yen,’’ said an official at Taisei Coins Corp, a major coin importer and seller in Tokyo.

He said coin prices are determined by their scarcity and condition, and there are several levels including completely unused coins, unused coins, beautiful coins and average coins.

According to a catalogue issued by the Japan Numismatic Dealers Association, 10-yen coins with no jags in the edge first issued in 1959 are priced higher due to their scarcity. A completely unused coin fetches 35,000 yen, an unused coin 12,000 yen, and an average coin 50 yen.

A completely unused 1,000-yen silver coin issued to commemorate the Tokyo Olympic Games fetches 10,000 yen and an average coin 2,500 yen.

Taisei Coins holds auctions by catalogue three times a year. In this year’s first auction, the highest-priced coin was a ‘‘Genroku gold coin’’ issued during the Edo period. Its lowest price was fixed at 25 million yen.

Such gold coins are usually owned by old families and collectors, but other people may be able to find scarce coins. What is important is never to remove stains from them and bring them as they are to coin dealers.

‘‘If you use polishing powder to make them look good, their value will largely drop,’’ said a company official.

In recent years, gold coins with popular characters in their designs have been becoming more popular. For the last five years, the company has been selling gold and silver coins with the design including such characters as Astro Boy and Hello Kitty, and they are especially popular with women and young people.

To commemorate the 60th anniversary of the enactment of the Local Autonomy Law, the Finance Ministry will begin to issue coins with designs of all prefectures in fiscal 2008.

‘‘With coin collection, imaginative power and knowledge spread,’’ Taisei Coins President Toru Iwamura said. ‘‘We would like to tell all people how enjoyable coin collection is.’’

© 2008 Kyodo News. All rights reserved. No reproduction or republication without written permission.

3 Comments

• 

  rondh69 at 03:35 PM JST - 10th May

  I smell a hint of a conspiracy here that somehow almost slipped through. Note the article below "Group turning used dentures into gold mine for charity"...

• 

  pathat at 05:32 PM JST - 10th May

  To commemorate the 60th anniversary of the enactment of the Local Autonomy Law, the Finance Ministry will begin to issue coins with designs of all prefectures in fiscal 2008.

  In other words, they`ve seen how successful the U.S. has been with its ten-year 50 State Quarter program from 1999 and decided to emulate it.

• 

  capone at 05:21 PM JST - 13th May

  nothing like buying at the top of the market

Register or login to add a comment!