The Background of the Birth of the Meiji 7 Year 20 Sen Silver Coin: The New Coinage Act and the Establishment of the Modern Currency System
The Meiji 7 year 20 sen silver coin was minted in Meiji 7 (1874) at the Osaka Mint. To understand the background of this coin's birth, we need to trace back to the "New Coinage Act" enacted in Meiji 4 (1871). The New Coinage Act was a historical law that abolished the complex currency system of the Edo period (such as koban, chogin, ichibugin) and established a modern decimal currency system based on "yen, sen, and rin." The Meiji government, based on the New Coinage Act, built an integrated monetary system of gold, silver, and bronze coins. Among them, the 20 sen silver coin was designed as an important subsidiary currency placed between gold and bronze coins in daily transactions. Dividing 1 yen into 100 sen, 20 sen was an indispensable unit for daily commercial transactions, even considering the price level of the time. Since the first 20 sen silver coin of the Kyokujitsu series was minted in Meiji 3 (1870), the same design 20 sen silver coin was manufactured over multiple years. Meiji 7 is one of the important early years in this regard, serving as valuable material demonstrating the minting technology level and monetary policy direction of that period. It is recommended to grasp the overall flow of modern currencies in Introduction to Modern Gold and Silver Coins (Meiji to Showa).
Basic Specifications and Kyokujitsu Design of the Meiji 7 Year 20 Sen Silver Coin
The technical specifications of the Meiji 7 year 20 sen silver coin are as follows: silver fineness: 800/1000 (80% purity), weight: 5.39g, diameter: 23.5mm, material: silver-copper alloy (80% silver, 20% copper). The design centers around "Kyokujitsu (旭日)." The obverse features a shining Kyokujitsu—symbolizing the dawn of Japan—with the sun and rays placed centrally, surrounded by the characters "二十銭" and floral decorations. The reverse displays the inscriptions "大日本" and "明治七年," along with a design symbolizing the authority of the Ministry of Finance Mint Bureau. The outer rim features reeding (laureate processing) for forgery prevention and identification. This Kyokujitsu design holds historical significance as a visual expression of the Meiji era's spirit of "Civilization and Enlightenment" and "Rich Nation, Strong Army." The design was undertaken by foreign technicians invited for technical support at the Osaka Mint, aiming to blend Western minting technology with Japanese motifs. A comparison with contemporaneous gold coins is possible in Detailed Explanation of Early Meiji Gold Coins.
Minting Numbers and Rarity: Rarity by Era
The minting number of the Meiji 7 year 20 sen silver coin does not fall into the highly abundant category within the 20 sen silver coins of the Meiji period as a whole. Among the Kyokujitsu series 20 sen silver coins intermittently manufactured from Meiji 3 to Meiji 39 (discontinuation year), Meiji 7 holds certain rarity as an early year. Generally, the quantity minted of the Kyokujitsu series 20 sen silver coin varies widely by year. Specimens from large mintage years (specific years in the Meiji 10s to 20s) are relatively abundant and easily obtainable, while early years (around Meiji 3 to 7) tend to have low mintage quantities, making well-preserved specimens particularly rare. For Meiji 7, while minting numbers can sometimes be confirmed from mint records, only a limited number of specimens above good condition are currently circulating in the market. Price differences due to condition grades are significant, and at times a 2 to 3 fold price difference can arise between average condition (worn from circulation) and above good condition. Preservation condition is one of the most critical factors in the evaluation of modern coins. It is recommended to thoroughly review Understanding the Grading Standards of Old Coins.
Comparison with Other Years: Market Prices by Era of the Kyokujitsu 20 Sen Silver Coin
In the collection of Kyokujitsu 20 sen silver coins, choosing the era is a crucial decision directly affecting price and rarity. Many collectors aim for a "complete set" of all eras, and understanding the characteristics of each era is fundamental to collection planning. Initially, the most rare eras are the early ones (Meiji 3 to 4) and some late ones (just before discontinuation), which tend to fetch high prices in auctions if they appear on the market in complete mint condition. Next, the early group including Meiji 7 (around Meiji 5 to 8) possesses moderate rarity. On the other hand, mid-period mass-produced years are relatively accessible, making them suitable as an introduction to the series. Market prices for the Meiji 7 year 20 sen silver coin range from 3,000 to 8,000 yen in average condition, 10,000 to 20,000 yen in good condition, and above 30,000 yen in excellent condition. Specimens with top ratings and certificates may go even higher. In Detailed Explanation of the Meiji 13 Year 20 Yen Gold Coin, a comparison with contemporary 20 yen gold coins offers a multifaceted understanding of the modern monetary system.
Authenticity Appraisal and Confirmation Points
The authenticity appraisal of the Meiji 7 year 20 sen silver coin is comparatively easier than other modern silver coins, but caution against sophisticated counterfeits and state deception is necessary. The first points to check are weight (5.39g) and diameter (23.5mm), where precise measurements with a balance and calipers are essential. If these values deviate significantly, it's worth suspecting a coin from another year or a different material. Next, confirm the details of the Kyokujitsu design. The number and uniformity of the sun rays, the clarity of the "二十銭" characters, and the stylistic balance of the "明治七年" inscription serve as criteria for authenticating. In counterfeits, you might find uneven rays or blurred character details. The composition of the 80% silver alloy reflects in the color tone. Genuine ones possess a distinct luster with a slightly yellowish silver-white appearance, but this can change with time and storage conditions. In Grading (state evaluation), if judged to be "cleaned," the value can drop significantly, making the confirmation of state upon acquisition particularly important. Utilizing the services of the Japan Numismatic Dealers Association (JNDA) or third-party appraisal agencies is a safe path to investment. Confirm reliable transaction windows in Acquisition Sources and Purchase Methods of Old Coins.
The Alloy Composition with 80% Silver Fineness: The Level of Minting Technology in the Meiji Period
The design of the Meiji 7 year 20 sen silver coin with 80% silver fineness (800/1000) was referenced from international standards of the time. The Meiji government, in establishing the New Coinage Act, investigated the currency systems of Western countries and determined the specifications based on Japan's economic scale and silver resource situation. The 800/1000 fineness is slightly lower than that of contemporaneous US silver coins (900/1000), but it presents practical durability as a stable alloy. Since its establishment in Meiji 3 (1870), the Osaka Mint has equipped itself with the latest minting facilities and prepared a system for mass-producing coins of uniform quality. By the time of Meiji 7 manufacturing, after initial trials and errors, the technology stabilized and the clarity of design and precision of weight improved. Coins from the Meiji 7 year demonstrate Japan's technological standard of the time. The pure silver content is approximately 4.31g, calculated as 5.39g × 0.80. Based on the current silver price (approximately 140 yen/g at the time of writing), the metal value is about 603 yen. However, the collector's price significantly exceeds this, with the difference being the collector's premium. Reference Complete Explanation of Dragon 1 Yen Silver Coin (Old 1 Yen Silver Coin, New 1 Yen Silver Coin) for comparisons with the main silver coins of the same era.
An Introduction to Modern Silver Coin Collection: The Overview of the 20 Sen Silver Coin Series
To start a collection of modern Japanese silver coins, the Kyokujitsu 20 sen silver coin series is an excellent introductory option. The entire series continues from Meiji 3 to about 39, allowing for a chronological collection construction. The price range starts from a few thousand yen for average condition coins, enabling gradual collection aiming for extremely fine condition rare years. The Meiji 7 year 20 sen silver coin positions itself in the early to mid-period of the series as a "core piece" with a balanced price and rarity. Acquiring this single coin first and then expanding to surrounding years (around Meiji 5 to 10) is a strategy with superior cost performance. The 20 sen silver coin collection can be developed further into Complete Guides to Taisho Silver Coins and Taisho Small 50 Sen Silver Coins, growing into a historical collection of modern Japanese silver coins spanning Meiji to Taisho to Showa eras. It offers a unique intellectual satisfaction by tracing the movement of modern Japanese monetary systems piece by piece.