Japan 1875 (M8) trade dollar
Prior to the opening of Japan in the 1850's and 1860's, Japanese coins were a mix of Chinese-style cast copper cash, silver rectangular "bu" and rare, gold "oban." Coinage reform in the 1870's brought about standard weights and sizes, struck on round planchets. The Japanese trade dollar (1875-1877) was an experiment to enter the Chinese silver trade with coins equivalent to those being imported from southeast Asia, the United States and Mexico. As such the specifications of this trade dollar are the same as the US counterpart. The experiment did not prove successful and the program was dropped after three years. The machinery used for production of the coins was purchased from the Hong Kong mint after British authorities closed it in 1868. The first specimen was lot 21459 in Heritage sale 3010 (Boston, August 2010), where it sold for $2,990. The catalog description[1] noted, "Meiji 8 (1875) Trade Dollar, MS62 NGC, nicely toned with amber highlights, very scarce in mint state." The second specimen was lot 25073 in Heritage sale 3024 (Chicago, April 2013), where it sold for $4,112.50. The catalog description[2] noted, "Meiji Trade Dollar Year 8 (1875), MS62 NGC, deep gray patina with sharp details and very few surface marks. Scarce and desirable type in mint state."
Recorded mintage: 3,056,638 for 1875-77.
Specification: 27.22 g, 0.900 fine silver, 0.7876 troy oz ASW.
Catalog reference: KM Y14.
- Michael, Thomas, and Tracy L. Schmidt, Standard Catalog of World Coins, 1801-1900, 9th ed., Iola, WI: Krause Publications, 2019.
- The Catalog of Japanese Coins and Banknotes, Tokyo: JNDA (Japanese Numismatic Dealers Assn.), 2014.
- [1]Tucker, Warren, Scott Cordry and John Kraljevich, Heritage Sale 3010: World Coins, Dallas, TX: Heritage Auction Galleries, 2010.
- [2]Bierrenbach, Cristiano, Warren Tucker and David Michaels, Heritage World and Ancient Coins Auction 3024, featuring the Kairos and Elizabeth McPhall Charters Collections, Dallas: Heritage Auction Galleries, 2013.
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