Japan 1877 (M10) 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. This specimen was lot 30212 in Heritage sale 3029 (New York, January 2014), where it sold for $18,800. The catalog description[1] noted, "An Elusive Gem Meiji Trade Dollar Year 10 (1877), MS65 NGC. The scarcest of this short-lived issue, in immaculate condition. A flawless strike, with superb steel-blue and gold toning over prooflike surfaces. This three-year issue (1875-77) is extremely popular with collectors of Japanese coins, and advanced numismatists are well aware of the difficulty involved in acquiring a Gem example of this type. None have been certified finer by either NGC or PCGS." Some of these were later countermarked with "gin."
Recorded mintage: 3,056,638 for 1875-77.
Specification: 27.22 g, 0.900 fine silver, 0.7876 troy oz ASW.
Catalog reference: JNDA 01-12, KM Y-14.
- 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]Bierrenbach, Cristiano, Stuart Levine and Bruce Lorich, Heritage World and Ancient Coins Auction 3029, featuring Selections from the Eric P. Newman Collection, Part III, Dallas, TX: Heritage Auction Galleries, 2013.
Link to: