Finding Japan 1870 1 Yen Type 1 圓 銀 Right JNDA 01-9A in the Wild: A Cherry Picker’s Guide

The Thrill of the Hunt: Finding the 1870 Japan 1 Yen Type 1 圓 銀 Right

For numismatists and coin collectors, few experiences rival the excitement of discovering a rare variety hiding in plain sight. The Japan 1870 1 Yen Type 1 圓 銀 Right (JNDA 01-9A) stands as one of those elusive treasures that can still be found by diligent roll hunters and cherry pickers who know exactly what to look for. This Meiji-era silver yen carries immense historical significance, multiple fascinating varieties, and numismatic value that far exceeds its face value to the untrained eye.

Historical Significance of the 1870 1 Yen

Minted during the early Meiji period, these coins emerged during a time of rapid modernization and Westernization in Japan. They formed part of Japan’s ambitious efforts to establish a modern currency system following the opening of trade with Western nations. The “Type 1” designation refers to the first major design type of the Japanese silver yen, featuring the iconic dragon design on the obverse and the denomination in Japanese characters on the reverse.

Understanding the “Right” and “Left” Designations

The key to identifying the Japan 1870 1 Yen Type 1 圓 銀 Right lies in understanding the countermark system. As discussed in collector forums, the “Right” designation specifically refers to coins with the “gin” (銀, meaning silver) countermark stamped on the right side of the coin, while the “Left” designation indicates the countermark appears on the left side.

The right/left designation for Type 1 is for countermarked/counterstamped coins with the “gin” (silver).

This countermarking practice was implemented to revalidate older silver coins as the Japanese monetary system evolved. The placement of the countermark wasn’t random but rather indicated which mint facility performed the work.

Mint Origins: Osaka vs. Tokyo

One fascinating aspect of these countermarked yen is their mint origin. According to collector discussions, the placement of the “gin” countermark reveals which mint facility processed the coin:

• Gin on the left: Stamped at Osaka Mint
• Gin on the right: Stamped at Tokyo Mint

This distinction is crucial for collectors because the mintage figures differ dramatically between the two facilities. Approximately 10 million coins were countermarked at Osaka Mint, while only about 1 million were processed at Tokyo Mint, making the “Right” variety approximately ten times rarer than the “Left” variety.

Identifying Key Markers

When searching through bulk lots, estate sales, or even circulation (though finding one in circulation today would be extraordinarily rare), look for these specific markers:

Obverse Design

The obverse features a dragon design typical of Japanese coinage of this era. The dragon should be well-defined with clear scales and facial features. Pay attention to the overall strike quality, as many examples have been heavily circulated.

Reverse Design

The reverse displays the denomination “一圓” (1 Yen) in Japanese characters. The “圓” character is particularly important for identification. Look for clear, sharp strikes in this area.

The Critical Countermark

The defining feature of the Type 1 圓 銀 Right variety is the “銀” character stamped on the right side of the coin. This countermark should appear as a separate impression from the main design, typically showing some depth and clarity despite the age of the coin.

Like this one is Gin on the left. (Image reference from forum)

Value Guide and Market Insights

The value of these coins varies significantly based on condition and the presence of the countermark. According to collector discussions, the presence of the “gin” countermark substantially increases the coin’s numismatic value:

• Without countermark: Standard market value
• With “gin” countermark: Value increases several times

Recent auction results demonstrate this premium. One collector noted that a 1870 Type 1 with “gin” on the right sold at a Hong Kong auction, commanding a price “couple times higher than without gin mark.” Another mentioned that a VF or XF Details example with “gin” sold for over $1,000 at a Stephen Album auction a couple of years ago.

Even coins in lower grades with the desirable countermark maintain strong value. A “very ugly looking” example with current bids around $160 was expected to go higher in a recent auction, demonstrating consistent collector demand.

Survival Rates and Population Data

An interesting anomaly exists between mintage figures and population data. While the mintage ratio suggests a 10:1 ratio of Left to Right varieties, PCGS population reports show 28 total Right examples versus 17 total Left examples. This suggests that the survival rate for the Right variety may actually be higher than expected, or that collectors have been particularly diligent in submitting this scarcer variety for grading.

Thank you for providing this useful information. If the ratio of the stamp of Left:Right is 10:1, I wonder why the PCGS population does not reflect this: 28 total (Right) and 17 total (Left).

Several factors could explain this discrepancy, including melting of coins over time, collector retention of particularly nice examples, and the possibility that the 10:1 ratio applies to all countermarked coins rather than specifically to the 1870 date.

Where to Find These Treasures

While finding a Japan 1870 1 Yen in circulation today would be extraordinarily rare, cherry pickers should focus on these sources:

Bulk Lots and Mixed World Coin Collections

Many dealers sell mixed world coin lots that may contain Japanese silver yen. Carefully examine each coin for the characteristic dragon design and Japanese characters.

Estate Sales and Auctions

Estate sales, particularly those of collectors or individuals with international connections, can yield unexpected treasures. Always check mixed coin lots rather than just highlighted pieces.

Online Marketplaces and Dealer Inventories

While not technically “roll hunting,” online platforms often have raw, unslabbed examples that may be misidentified or underpriced. Learning to authenticate and attribute these coins can lead to profitable acquisitions.

Specialized Coin Shows

Attend shows with numerous world coin dealers and carefully examine raw coins. Some dealers may not recognize the significance of the countermark placement.

Authentication Tips

When examining potential examples, consider these authentication points:

Metal Composition

Authentic examples should be silver. The coin should have a distinctive silver appearance and ring when gently tapped (though don’t damage potential purchases).

Countermark Authenticity

The “銀” countermark should show appropriate wear patterns consistent with the coin’s overall condition. Modern forgeries often have countermarks that appear too sharp or show incorrect tooling marks.

Design Details

Examine the dragon’s scales, the clarity of the Japanese characters, and the overall strike quality. While circulated examples will show wear, the fundamental design elements should remain visible.

Future Collectibility

Collectors in forum discussions suggest that the value of these countermarked yen, particularly the Right variety, may increase as more collectors recognize their significance. With only approximately 1 million Tokyo Mint countermarked coins existing (compared to 10 million from Osaka), the scarcity factor remains strong.

When more people collect gin mark yen the price will go a lot higher because there are not many out there.

The combination of historical significance, relative scarcity, and growing collector awareness positions the Japan 1870 1 Yen Type 1 圓 銀 Right as an attractive target for both numismatic enthusiasts and investors.

Conclusion: The Reward of Knowledge

The Japan 1870 1 Yen Type 1 圓 銀 Right represents one of those numismatic treasures that combines historical significance, scarcity, and the potential for discovery. For roll hunters and cherry pickers, the knowledge of what to look for transforms ordinary coin searching into a treasure hunt with real potential rewards.

Understanding the significance of the countermark placement, recognizing the mint origins, and knowing the market values creates a powerful advantage. Whether you’re examining bulk lots at an estate sale or carefully reviewing world coins at a show, the ability to identify this variety could lead to a significant numismatic find.

Remember that patience and knowledge are your greatest tools. The next great discovery might be hiding in the next lot you examine, waiting for someone who knows exactly what they’re looking at.

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