---
title: "Kyoho Chogin"
url: "https://ittendo.com/en/coinpedia/edo-silver-013-kyoho-chogin"
site: "ITTENDO"
type: "coinpedia"
category: "edo-silver"
series: "Edo Silver Coins"
lang: "en"
---
# Kyoho Chogin

> Conclusion: Kyoho Chogin is a silver purity-restoration coin from the Kyoho Reforms, featuring an 80% silver standard that symbolizes Yoshimune's drive for economic stability — a historically significant piece for advanced collectors.

- 時代: 江戸
- 素材: 銀
- 額面: 匁
- 発行量: 通常
- 価格帯: 中堅

## The Background of Kyōhō Chōgin's Birth — Kyōhō Reforms and Currency Restoration

Kyōhō Chōgin is a weighted silver coin minted during the Kyōhō era (1716-1736), a product of a currency restoration measure implemented as a significant pillar of the "Kyōhō Reforms" promoted by the 8th Shōgun Tokugawa Yoshimune.

Before the emergence of Kyōhō Chōgin, the history of silver coins in the Edo period followed a severe decline in quality. Starting with 80% silver purity in Keichō Chōgin, it decreased to 64% in Genroku Chōgin, and further reductions continued with Hōei Chōgin, Eiji Chōgin, and Mitsutakara Chōgin. These re-coinages, executed against the backdrop of financial strain on the shogunate, led to a substantial devaluation of coinage, causing chronic inflation and economic turmoil.

To break this vicious cycle, Tokugawa Yoshimune enforced the Kyōhō reforms. In Kyōhō 6 (1721), he commanded the minting of "Kyōhō Chōgin," restoring the silver purity to 80% (precisely 80.0%), prior to Genroku. This measure aimed to curb inflation, which had been burdening the populace, and stabilize the economy. The birth of Kyōhō Chōgin was not merely a coinage renewal but also a strong message towards restoring fiscal discipline and economic stability of the shogunate. For an overview of the purity changes in Edo silver coins, refer to [Introduction to Edo Silver Coins (Chōgin & Mameitagin)](/coinpedia/edo-silver-001-overview).

## Details of 80% Silver Purity and Physical Specifications

The silver purity of Kyōhō Chōgin is 80.0%, reverting to the same level as Keichō Chōgin. This recovery of 16 points from Genroku Chōgin's 64% was the largest improvement in purity in the history of Edo period silver coins. The remaining 20% mainly consists of copper, which is reflected in the color and specific gravity of the alloy.

In terms of physical specifications, as a weighted silver coin, individual Kyōhō Chōgin coins vary in weight. Generally, they weigh around 160g to 200g. They are approximately 10cm to 15cm long, forming elongated oval lumps called namako-gata. The specific gravity of the 80% silver alloy is estimated to be around 10.2 to 10.5, slightly higher than the lower-purity Genroku Chōgin (approximately 10.0 to 10.4).

The color reflects the high 80% silver purity, showing a relatively bright silvery white color, distinct from the somewhat grayish tone of Genroku Chōgin. However, in pieces with advanced sulfide (tarnish) due to aging, color differences may become unclear, thus identification purely by color should remain supplementary. Although modern silver prices (at the time of writing, about 140 yen/g) can infer bullion value from silver purity and weight, the value of an old coin significantly surpasses bullion value. Check [Factors That Determine the Value of Old Coins](/coinpedia/basics-001-value-drivers) for how values are formed.

## Kokuin and Identification Methods of Kyōhō Chōgin

The most important clue in distinguishing Kyōhō Chōgin from Chōgin of other eras is the kokuin stamped on its surface. Chōgin features two major types of kokuin: the "Daikoku image kokuin" and the "inscription kokuin indicating year and purity."

The unique inscription kokuin on Kyōhō Chōgin bears the two characters "享保." This "Kyōhō" inscription clearly indicates the coin was minted during the Kyōhō era and serves as a clue for confirming the high-purity route of that period. The genuine kokuin is characterized by robust stamping, making the contours of the characters crisp.

Regarding the Daikoku image kokuin, it was commonly used across Chōgin throughout the Edo period, but differences in design and engraving details can be seen depending on the era. The Daikoku image on Kyōhō Chōgin is relatively well-engraved, possessing a quality befitting Chōgin of the purity recovery period. A deeper understanding can be developed by comparing methods of identifying Genroku Chōgin. Also refer to [Detailed Explanation of Genroku Chōgin](/coinpedia/edo-silver-008-genroku-chogin).

Specific gravity measurement is effective as an auxiliary means of authenticity judgment. Kyōhō Chōgin has an alloy specific gravity of approximately 10.2 to 10.5 for its 80% silver and 20% copper composition, and validation using a precision balance and specific gravity measuring device is recommended. When requesting appraisal, choose a reliable appraisal institution like the JNDA.

## Comparison with Chōgin from Other Periods

During the Edo period, a total of 10 types of Chōgin were minted, with Kyōhō Chōgin holding a unique position as a symbol of purity recovery. Here, we compare it with Chōgin from the preceding and succeeding periods.

Predecessors such as Hōei Chōgin (64% purity), Eiji Chōgin (50%), and Mitsutakara Chōgin (40%) all followed the trend of decreasing purity post-Genroku Chōgin (64%). Compared to these, Kyōhō Chōgin's 80% purity is significantly higher, with marked differences in color tone, specific gravity, and luster. When observed alongside [Detailed Explanation of Hōei Chōgin](/coinpedia/edo-silver-009-hoei-chogin), these differences become visually comprehensible.

The successor, Genbun Chōgin (46% purity), began minting after the end of Kyōhō Chōgin, with its purity again significantly declining. This indicates the failure to sustain Kyōhō reforms, as fiscal pressures rose again under successive regimes.

While both Keichō Chōgin (80%) and Kyōhō Chōgin (80%) share the same silver purity, differences exist in minting period, kokuin, and weight tendencies. Additionally, Keichō Chōgin carries higher historical rarity, generally leading to a higher market evaluation. Capture the overall view of purity changes at [The World of Chōgin](/coinpedia/edo-silver-002-chogin).

## Specific Points for Authenticity Judgment

Authenticity judgment of Kyōhō Chōgin requires high expertise due to the large individual differences as a weighted silver coin. Here are the points to check.

The first point is the inspection of the "Kyōhō" inscription kokuin. Genuine items feature robust impressions with sharply carved outlines. In counterfeit items, engravings may be shallow, contours blurry, or there might be unnatural smudges in the details of the characters. Use a high-magnification loupe (20x or more) to examine each stroke of the script.

The second point is observing the aging of the silver alloy. Genuine Kyōhō Chōgin has uneven blackening from natural sulfide distributed over the years. This discoloration is deep, forming a random pattern. In contrast, artificial coloring or unnatural uniformity due to cleaning is a sign of forgery or tampering.

The third point is specific gravity measurement. A standard specific gravity for Kyōhō Chōgin is about 10.2 to 10.5. Large deviations in the measurement might indicate differing silver purity. Although dedicated equipment is needed for precise specific gravity measurement, it is an essential check when purchasing for serious investment purposes. Check [Complete Guide to Identifying Fakes and Processed Items](/coinpedia/basics-004-fakes) to review the foundational knowledge.

## Market Price and Rarity

The market price of Kyōhō Chōgin varies greatly depending on condition, clarity of kokuin, weight, and availability of a certificate of authenticity.

The rarity of Kyōhō Chōgin stems from its minting period being limited to about 15 years from Kyōhō 6 (1721) to Genbun 1 (1736) and the mintage being restrained for purity recovery. Post-Genbun re-coinage saw a decline in purity again, maintaining the Kyōhō Chōgin's status in the current market as a "high-purity official shogunate silver coin" with a certain rarity value.

Market listings are available through both auctions and old coin dealers. For high-value items, participation in specialized old coin auctions is advantageous to realize top prices. It is advisable to plan acquisition and sale strategies by referring to [Using Old Coin Auctions](/coinpedia/basics-007-auction). With the recent progress in research on Edo period economic history, interest in re-coinage silver coins has surged, and the academic valuation of high-purity Chōgin groups including Kyōhō Chōgin has been on the rise.

Individual prices are listed only once verifiably matched, sourced records exist.

## Storage and Exit Strategy

Proper storage of Kyōhō Chōgin considers the characteristics of silver alloy. Since silver reacts with sulfur, causing tarnish (sulfidation), measures against moisture and sulfidation are top priorities. Store them in sealed coin holders or airtight cases with silica gel containing activated carbon to absorb moisture and sulfur.

The alloy contains 20% copper, posing a risk of verdigris formation. High-humidity environments especially accelerate copper oxidation, possibly resulting in green or blue discoloration on the surface. In cases of verdigris, avoid indiscriminate chemical cleaning and consult with a professional old coin specialist. Cases of significantly diminished value due to cleaning are numerous. Check [Proper Storage Methods for Old Coins](/coinpedia/basics-006-hokan) for details on suitable storage environments.

For an exit strategy upon sale, participation in specialized old coin auctions is optimal. By incorporating the historical context of Kyōhō Reforms in the lot description, it can reach history enthusiasts and researchers. Additionally, auctioning as part of an Edo silver coin series might increase perceived value through emphasized relatedness. Refer to [Reading the Market Cycle](/coinpedia/basics-005-market-cycles) for guidance on timing sales.