---
title: "Fuhon Coins"
url: "https://ittendo.com/en/coinpedia/kodai-003-fuhon-sen"
site: "ITTENDO"
type: "coinpedia"
category: "kodai"
series: "古代貨幣"
lang: "en"
---
# Fuhon Coins

> Conclusion: Fuhon Coins are Japan's oldest minted currency, not an investment target, but an invaluable historical artifact.

- 時代: 古代
- 素材: 銅
- 額面: 文
- 発行量: 希少
- 価格帯: 高額

## Historical Background: The Reality of Japan's Oldest Minted Coin

The Fuhon-sen is estimated to have been minted around the year 683, and is Japan's oldest known minted coin. Its existence was long considered legendary, with even its reality questioned. However, the "Nihon Shoki" records an imperial edict in the 12th year of Tenmu (683), stating, "Henceforth, be sure to use copper coins," which suggested the minting period of the Fuhon-sen.

At the end of the 20th century, a groundbreaking discovery changed this historical understanding. In 1999, at the Asukai-ike site in Asuka Village, Nara Prefecture, a large number of molds, production errors, and finished Fuhon-sen coins were unearthed. This firmly established the existence of the Fuhon-sen and significantly revised Japanese numismatic history.

This finding clearly showed that Japan attempted to introduce a monetary system approximately 25 years earlier than the Wadōkaichin (708 years minted), previously considered Japan's oldest coin. The coin policy initiated during Emperor Tenmu's reign is thought to be a crucial part of economic reforms during the formative period of the ritsuryō state. For more on ancient Japanese coins, please refer to [Introduction to Ancient Coins (Wadōkaichin, etc.)](/coinpedia/kodai-001-overview).

## Monetary Reform under Emperor Tenmu and the Ritsuryō State

The reign of Emperor Tenmu (673-686), during which the Fuhon-sen was minted, coincides with the period when Japan's ritsuryō state system began to be fully constructed. Emperor Tenmu implemented various political and economic reforms in pursuit of establishing a centralized state. Coin minting is believed to have been one of its significant pillars.

At the time, an advanced monetary economy centered around the Tang was unfolding in East Asia, and as a member of the international community, Japan needed to strengthen its economic foundation. Coins function as a symbol of state power, facilitate resource distribution, and enhance tax efficiency. The Fuhon-sen emerged as a "national policy coin" within such a national strategy.

The minting of coins required high technology and organizational capabilities, and the existence of the Fuhon-sen indicates that Japan already possessed such abilities. This monetary reform marked a crucial step in strengthening the economic foundation during the process of realizing the ritsuryō state, which continued under Empress Jitō and Emperor Monmu.

## The Shock and Scholarly Significance of the Asuka-ike Site Excavation

The 1999 excavation of the Fuhon-sen at the Asuka-ike site is considered "the greatest discovery of the 20th century" in Japanese archaeology, particularly in the study of numismatic history. A team from the Nara National Research Institute for Cultural Properties discovered dozens of Fuhon-sen coins, including molds, faulty products, and completed ones.

The crucial significance of this discovery lies not only in the fact that the actual Fuhon-sen was found, but also that evidence of the minting process was gathered. In addition to the Fuhon-sen, mokkan and charred metal debris were unearthed from the workshop site, clearly backing the area's role as a state minting base during the Asuka period. This revealed that the supposedly nonexistent or non-circulating Fuhon-sen was produced on at least a certain scale.

All Fuhon-sen coins from the Asuka-ike site are housed at the Nara National Research Institute for Cultural Properties and serve as valuable materials for historical research. These excavations pushed the start of Japan's numismatic history back by about 25 years and provided indispensable evidence for reassessing ancient Japan's economy, technological levels, and the dynamism of the ritsuryō state formation period.

## Shape and Features of Fuhon-sen: The Secret of Design and Material

The Fuhon-sen is a round coin with a square hole, said to mimic China's Kaiyuan Tongbao, following the common monetary form used widely in East Asia at the time. It has a diameter of about 24mm, with a square hole in the center. The characters "富本" are arranged vertically on the obverse, with a distinctive "seven-star pattern" on the reverse.

It is widely believed that the inscription "富本" carries the meaning of "the foundation for enriching the nation." This interpretation suggests it symbolizes the economic philosophy of the time, aiming for national prosperity through a monetary economy. The material is an alloy primarily composed of copper, notably with a high antimony content. This alloy composition indicates that Japan possessed not only technological mimicry but also unique metal processing skills.

The casting technology was relatively sophisticated, with many coins having clear legible characters, reflecting high technological standards of the time. The coins weigh approximately 3.5 to 4 grams, making them exquisite examples of national authority and technological prowess captured in size, weight, and detailed design.

## The Depth of "富本" Inscription and Seven-star Pattern: Influences from the East Asian Cultural Sphere

The "富本" inscription on the surface of the Fuhon-sen and the seven-star pattern on the reverse hold deep meanings and historical backgrounds. "富本," as stated earlier, hints at the national ideology of "the foundation for enriching the nation." Yet, this expression deviates from China's "Kaiyuan Tongbao," demonstrating Japan's beginning to embed its thoughts into currency beyond mere imitation.

Meanwhile, the seven-star pattern (七星文) on the reverse, a star pattern with seven dots, is viewed as both an auspicious pattern and a talisman widely seen across East Asia. Similar patterns are found on Tang and Korean Peninsula metalware, showing that Asuka period Japan was deeply involved in international cultural exchanges.

The seven-star pattern symbolizes the seven celestial bodies: the sun, moon, Mars, Mercury, Jupiter, Venus, and Saturn. It signified governance of cosmic order, time flow, and even people's destiny. By adorning currency with this pattern, one can interpret the hopes for national prosperity and people's peace. This unique design significantly enhances the cultural and artistic allure of the Fuhon-sen.

## Decisive Differences with Wadōkaichin: Roles and Circulation

The Fuhon-sen (circa 683) and the later Wadōkaichin (708) are two pivotal coins in Japan's numismatic history, albeit with some decisive differences. Firstly, they were minted about 25 years apart, with the Fuhon-sen preceding. Although their diameters are both about 24mm, the Fuhon-sen has the distinctive seven-star pattern on its reverse, unlike the Wadōkaichin.

The scripts differ, with the Fuhon-sen having a script akin to the Asuka period's kaisho, whereas the Wadōkaichin prominently displays a style with clerical script elements. The most significant difference lies in their production volume and circulation. Wadōkaichin coins have been found in large quantities from various sites nationwide, confirming their practical use as "usable currency." Conversely, Fuhon-sen findings are almost exclusively from the Asuka-ike site, suggesting its circulation was experimental or ceremonial.

Thus, while the Fuhon-sen holds the title of "Japan's oldest coin," the distinction of "Japan's oldest practical currency" is often held by the Wadōkaichin. The comparison of these coins provides valuable insights into the ritsuryō state's trial and error in permeating a monetary economy in society. For more detailed information, see the [explanation of Wadōkaichin](/coinpedia/kodai-004-wado-kaichin).

## The Reality of Distribution and Evolution of Theories: From Illusion to Reality

Throughout the years, various theories have been proposed regarding the actual distribution of the Fuhon-sen. Before the Asuka-ike site discovery, despite textual references, the absence of tangible evidence led it to be regarded as "phantom coinage," with views that if it existed, it was only used for very limited ceremonial purposes as a "test mint."

However, the massive discovery in 1999 of many Fuhon-sen, including molds and defects from the workshop site, suggested that its production scale was substantial and exceeded mere test minting. This evidence raised the possibility that the Fuhon-sen was an "early national currency" produced in a certain quantity for an attempt to introduce a full-fledged monetary economy within the ritsuryō state.

Nevertheless, few cohesive finds have emerged from sites outside the Asuka-ike, lacking evidence of the widespread circulation seen with the Wadōkaichin. Consequently, the current mainstream interpretation is that the Fuhon-sen was used in certain regions or specific contexts during the transition to a monetary economy. Theories continuously update with new findings, and research into the true role of the Fuhon-sen will persist.

## History of Counterfeiting and the Art of Authenticity Identification: Utilizing Modern Technology

Due to its rarity and historical value, the Fuhon-sen has been subject to counterfeiting as far back as the Edo period. In modern times, its authenticity verification is extremely challenging, requiring thorough evaluation by experts.

Key points for distinguishing authenticity include the following: First, the script of "富本." Genuine coins exhibit a distinctive script close to Asuka-period kaisho. Second, the arrangement and size of the seven points in the seven-star pattern and the overall balance. Third, examining the metal composition. Authentic Fuhon-sen are characterized by an alloy composed mainly of copper with a high antimony content. Fourth, the measured diameter and weight, with authentic coins generally having a diameter of about 24mm and weight between 3.5 to 4 grams.

However, highly skilled counterfeits mimic these features, making modern technologies indispensable for definitive judgment, such as X-ray fluorescence analysis (XRF), electron microscopy for surface observation, and X-ray CT scanning as non-destructive tests. If acquiring a "Fuhon-sen" of unknown origin from the market, the likelihood of it being genuine is nearly zero. For general knowledge to distinguish genuine coins, refer to [Complete Guide to Identifying Fakes and Processed Coins](/coinpedia/basics-004-fakes).

## Rarity and Valuation in the Market: The Unobtainable Phantom Coin

The Fuhon-sen is an exceptionally rare item that "virtually never circulates" in the general antique coin market. Nearly all the known surviving pieces were unearthed from the 1999 Asuka-ike site and are meticulously housed in public research institutions such as the Nara National Research Institute for Cultural Properties. There are no confirmed cases of individual collectors possessing a Fuhon-sen today.

Thus, there is no reference price for the Fuhon-sen in the market. Hypothetically, should one appear, its price would be unpredictable and could easily reach billions of yen, considering it as one of the most critical relics in Japan's numismatic history. Given the difficulty in authenticity verification, any transactions would remain highly limited.

The Fuhon-sen is truly a "phantom coin," with its value rooted more deeply in historical and cultural significance than monetary aspects. For a detailed explanation of factors determining the value of antique coins, refer to [Factors Determining the Value of Antique Coins](/coinpedia/basics-001-value-drivers).

## The Legacy of Fuhon-sen in Japan's Numismatic History: The Path to Nation Building

The discovery of the Fuhon-sen has not only revolutionized Japanese numismatic history but has also profoundly impacted research into the establishment of the ritsuryō state. Previously, Japan's strides as a "monetary state" were thought to begin in earnest with the minting of the Wadōkaichin in 708. However, the existence of the Fuhon-sen in 683 clearly indicates that a monetary system was being established as part of the ritsuryō framework as early as during Emperor Tenmu's reign.

This provides crucial insights for re-reading the process leading to the completion of the ritsuryō state, which continued through Empress Jitō and Emperor Monmu, not just from a perspective of political and legal systems but also in terms of economic policy. Additionally, the distinctive metal composition of the Fuhon-sen, primarily copper with a high antimony content, is evidence that Japan of the time not only mimicked Chinese technology but also had its own metal processing and resource procurement capabilities.

The Fuhon-sen is a "message transcending time," narrating the high technological prowess of ancient Japan, the vibrancy of international exchanges, and the trial and error of economic policies during nation-building phases. It stands as an invaluable milestone in Japan's economic and technological history.