Smart Buying Guide: How to Buy Japan 1870 1 Yen Type 1 圓 銀 Right JNDA 01-9A Without Getting Ripped Off

Historical Significance

The Japan 1870 1 Yen Type 1 圓 銀 Right JNDA 01-9A represents a pivotal moment in Japanese monetary history. This coin emerged during the early Meiji period when Japan was transitioning from the Tokugawa shogunate to a modern currency system. The 1870 yen was Japan’s first silver trade dollar, designed to compete with international silver coins circulating in Asia.

The Type 1 designation refers to the first major design variant, featuring the character “圓” (yen) prominently displayed. What makes the “Right” variety particularly interesting is the countermark placement – the “gin” (silver) character stamped on the right side of the coin. This countermark indicates the coin’s silver content and authenticity, a practice common in 19th century Japanese coinage.

Identifying Key Markers

When examining a Japan 1870 1 Yen Type 1, collectors should pay attention to several critical markers:

• The “圓” character placement and style
• The presence and location of the “gin” countermark (right vs. left)
• The overall strike quality and detail preservation
• Any signs of countermarking clarity and positioning

The countermark location is crucial for valuation. Coins with the “gin” stamp on the right (Tokyo Mint) are significantly rarer than those with the stamp on the left (Osaka Mint). According to forum discussions, the mintage ratio was approximately 10:1 in favor of left-stamped coins, with Tokyo Mint producing roughly 1 million coins versus Osaka Mint’s 10 million.

Where to Buy: Trusted Sources

For serious collectors, the primary venues for acquiring a Japan 1870 1 Yen Type 1 Right variety include:

Major Auction Houses

Stephen Album Rare Coins regularly features Japanese silver yen in their auctions. These established houses provide authentication services and have built reputations over decades. Recent sales data shows a VF or XF Details 1870 with “gin” sold for over $1,000, indicating strong market demand.

Specialized Dealers

Dealers specializing in Asian numismatics often maintain relationships with collectors and can source specific varieties. Look for members of the Professional Numismatists Guild (PNG) or similar professional organizations.

Online Marketplaces

Platforms like eBay can yield opportunities, but require extra diligence. Recent forum posts mentioned coins selling on these platforms for around $160, though condition was noted as “very ugly looking.”

Collector Shows and Conventions

Major coin shows often feature Japanese specialists who can provide hands-on examination opportunities before purchase.

Red Flags: What to Watch For

Several warning signs should make collectors proceed with caution:

• Countermarks that appear too perfect or show signs of modern tooling
• Unusually low prices for coins described as “Right” variety
• Sellers unable to provide clear, high-resolution images of the countermark placement
• Coins with details grades that seem inconsistent with the described condition
• Lack of provenance or documentation for high-value specimens

The forum discussion highlighted that “gin” marked coins command “couple times higher” prices than unmarked specimens. If a deal seems too good to be true, it probably is.

Negotiating Tips

When purchasing a Japan 1870 1 Yen Type 1 Right variety, consider these negotiation strategies:

Research Recent Sales

Know the market. Recent auction results show significant price variations based on condition and countermark presence. Use this data to establish realistic price expectations.

Request Additional Documentation

For high-value specimens, ask for certificates of authenticity, provenance documentation, or third-party authentication reports.

Consider the Market Dynamics

The forum noted that “when more people collect gin mark yen the price will go a lot higher because there are not many out there.” This suggests potential for appreciation, which can be a negotiation point for long-term investment pieces.

Bundle Purchases

If you’re building a Japanese silver yen collection, dealers may offer better pricing on multiple acquisitions.

Raw vs. Slabbed: Making the Right Choice

The decision between purchasing raw (ungraded) or slabbed (professionally graded) coins involves several considerations:

Advantages of Slabbed Coins

Slabbed coins from PCGS or NGC provide authentication and grade verification. The forum discussion referenced PCGS population reports showing 28 total “Right” varieties versus 17 “Left” varieties, though this ratio seems inconsistent with the expected 10:1 mintage ratio. This discrepancy highlights the importance of professional authentication.

Advantages of Raw Coins

Raw coins often sell at lower premiums and may represent better value for experienced collectors who can authenticate and grade coins themselves. However, the forum specifically noted that “gin” marked coins are “very collectible with gin mark especially with a non details grade,” suggesting that even lower-grade specimens with the rare countermark maintain significant value.

Cost Considerations

Grading costs can add $30-100+ to the purchase price, plus shipping and insurance. For coins valued under $500, the grading premium may not be justified unless you plan to sell in the future.

Authentication Challenges

The Japan 1870 1 Yen Type 1 has been counterfeited, particularly the more valuable “Right” variety. Professional grading provides security against sophisticated fakes that might fool even experienced collectors.

Investment Potential

The Japan 1870 1 Yen Type 1 Right variety represents both historical significance and investment potential. The forum discussion emphasized several factors supporting appreciation:

The mintage ratio of Left:Right is 10:1, yet PCGS population data shows a different ratio. This suggests survival rates differ significantly from mintage expectations, potentially making the “Right” variety even rarer than the original production numbers indicate.

Additionally, as more collectors recognize the rarity of “gin” marked specimens, demand is likely to increase. The forum participant noted that prices could “go a lot higher because there are not many out there.”

Conclusion

The Japan 1870 1 Yen Type 1 圓 銀 Right JNDA 01-9A represents a fascinating intersection of history, rarity, and investment potential. The “gin” countermark on the right side, indicating Tokyo Mint production, makes this variety particularly desirable among collectors of Japanese silver yen.

When purchasing, prioritize authentication and condition while being mindful of the significant price premium commanded by the “Right” variety. Whether you choose raw or slabbed specimens, understanding the market dynamics and recent sales data will help you make informed decisions and avoid overpaying.

As the forum discussion illustrates, this coin combines historical significance with genuine rarity, making it a worthy addition to any serious collection of Japanese or Asian silver coinage. The key is approaching the market with knowledge, patience, and a strategy for identifying authentic specimens at fair prices.

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