Japan 1912 (M45) 20 yen

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Sincona sale 54, lot 787
This specimen was lot 787 in Sincona sale 54 (Zurich, May 2019), where it sold for 2,000 CHF (about US$2,380 including buyer's fees). The catalog description[1] noted,
"Mutsuhito, 1867-1912. 20 Yen Jahr 45 (1912), Osaka. NGC MS65. (empire of Japan, Mutsuhito, 1867-1912, twenty yen of the year 45, Gem Uncirculated.)"
This type was struck during the Mutsuhito era in considerable numbers but remains scarce today. The type was terminated in 1920. It seems likely that most of the issue remained in government hands as backing for currency until the inflation of World War One ended any likelihood of circulating the coin.

Recorded mintage: 1,272,450 plus 177,644 of KM Y40.1 (Taisho).

Specification: 16.66 g, .900 fine gold, .482 troy oz AGW.

Catalog reference: KM Y34, Fr-50.


  • Cuhaj, George S., and Thomas Michael, Standard Catalog of World Coins, 1901-2000, 42nd ed., Iola, WI: Krause Publications, 2014.
  • Friedberg, Arthur L. and Ira S. Friedberg, Gold Coins of the World, From Ancient Times to the Present, 7th ed., Clifton, NJ: Coin and Currency Institute, 2003.
  • The Catalog of Japanese Coins and Banknotes, Tokyo: JNDA (Japanese Numismatic Dealers Assn.), 2014.
  • [1]Richter, Jurg, Sincona Auction 54: Gold Coins and Medals, Zurich: SINCONA AG, 2019.

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