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Empire of Japan
Meiji Era
Meiji 2 Bu-Ban-Kin
大日本帝國
明治天皇
明治二分判金
Item number: A1462
Year: AD 1868-1869
Material: Gold
Size: 19.5 x 11.7 x 1.1 mm
Weight: 3.0 g
Provenance: Fuchin Coin 2024
This is a 2 bu-ban-kin (二分判金), a kind of Japanese currency, issued during the early reign of Emperor Meiji in the Japanese imperial era. The term “2 bu” indicates that the currency’s value was equivalent to half of a koban (one ryō, as a weight unit). The term “ban” refers to a standardised gold ingot stamped with either “bokusho” (ink markings) or “gokuin” (official seals or monograms) to certify its quality and weight. The term “kin” translate of gold.
The obverse side of this 2 bu-ban-kin bears the monograms of Gotō Shōzaburō Mitsutsugu(光次), the hereditary head of the Edo-period Kinza (gold mint) in Japan. This monograms continued to be used by successive heads of the mint as a mark of authenticity.
The reverse side of the 2 bu-ban-kin features the Gotō family emblem, comprising a fan-shaped design and the Paulownia emblem (kiri-mon). Traditionally, the Paulownia emblem symbolised the Japanese Emperor and was granted by successive emperors to distinguished subjects as a mark of imperial favour. The Gotō family’s use of the Paulownia emblem is believed to have originated from an imperial gift to the Ashikaga shogunate, which in turn bestowed it upon the Gotō family. The edges of the coin are adorned with circular dots as a decorative motif. The characters “二分(2 bu)” in the centre indicate its value.
This 2 bu-ban-kin represents the final official ryō-based system currency in Japanese history. It was issued at the beginning of Emperor Meiji’s reign to stabilise the currency, facilitate commerce, and provide support for the Daijōkan-satsu, Japan’s first nationally circulating paper currency. However, this measure proved insufficient in addressing the challenges posed by Japan’s triple monetary standard coinage system (gold, silver, and copper), the rampant spread of counterfeit currency, and the need for alignment with international trade and domestic modernisation initiatives under the policy of “enrich the country, strengthen the Armed Forces” (fukoku kyōhei).
By the early Meiji period, Japan’s monetary and fiscal systems remained in turmoil. In AD 1871 (Meiji 4), the government promulgated the New Currency Act, which replaced the ryō-based system with the yen. Under this reform, the traditional gold and silver coins denominated in ryō were gradually phased out, marking a significant step in Japan’s transition toward a modern monetary system.