Meiji Dragon 20 Sen Silver Coin — The Small Giant that Built the Foundation of Modern Japan

After the Meiji Restoration, Japan embarked on refreshing its currency system to lay the foundation as a modern nation. In 1868, the Meiji government abolished the complex old currency system and sought to introduce a new currency system based on the international gold standard. In 1871, the New Currency Act was enacted, establishing a decimal currency system based on the yen. The Dragon 20 Sen silver coin was minted as part of this new currency system, playing an important role in stabilizing the economy and modernizing the nation.

In 1870, the government established a mint, where the Meiji Dragon 20 Sen silver coin was born. The mint was set up in Yokohama and, with the cooperation of foreign technicians and modern technology, precision minting became possible. At this time, Japan was expanding international trade and needed reliable silver coins to facilitate transactions with foreign countries. The Dragon 20 Sen silver coin was utilized as the main player in daily transactions and as a standard for foreign exchange.

Politically, a stable currency supply was required to strengthen the financial foundation of the Meiji government. By enforcing the New Currency Act, the government aimed for economic independence by collecting the old currency such as gold and silver coins from the Edo period and transitioning to a new currency system. The Dragon 20 Sen silver coin was born in this historical context, serving its role as a coin symbolizing Japan's modernization.

The minting process of the Dragon 20 Sen silver coin employed the latest technology of the time. The Yokohama Mint played a central role, gathering technicians invited from the West. They were instructed by the Meiji government to transmit the latest minting techniques to Japan and guide the production of the Dragon 20 Sen silver coin.

A steam engine imported from the United Kingdom was used for minting, enabling mass production. In the factory, silver bullion was first melted at high temperatures and poured into molds to form each coin. In this process, the weight of 5.39g and silver purity of 80% for the 20 Sen silver coin were strictly managed, ensuring compliance with international standards.

During this period, Japan was expanding international trade and required reliable silver coins to facilitate smooth transactions with foreign countries. The Dragon 20 Sen silver coin was utilized as the main player in daily transactions and as a standard for foreign exchange.

The craftsmen working at the mint were required to have advanced skills and patience. They diligently produced coins daily, paying the utmost attention to maintain quality. Especially, the dragon design required precise engraving skills, testing the craftsmen's technical abilities.

The Dragon 20 Sen silver coin, born through such efforts, supported economic activity as an important currency in Meiji-era Japan. This silver coin, a crystallization of the mint's efforts and technology, was widely accepted as a trusted currency and a symbol of a new era for the people of that time.

The Dragon 20 Sen silver coin became indispensable in daily transactions in Meiji-era Japan due to its refined design and high reliability. It was widely used over approximately 35 years from 1870 to 1905, contributing to the stabilization of the domestic economy.

During this time, the Japanese economy was riding the wave of rapid modernization following the Meiji Restoration, and with industrial development, currency circulation was becoming more active. The Dragon 20 Sen silver coin was utilized in all kinds of commercial transactions, from rural areas to urban centers, and its value was particularly prized in the trade of agricultural and handicraft products. For example, in rice trading, it was approximately 1 yen per 1 to (斗), equivalent to about five 20 Sen silver coins.

Furthermore, the Dragon 20 Sen coin was frequently used in private small shops and markets, playing an important role in supporting the everyday life of the common people. In many households, this silver coin was saved as savings and used as cash when needed. In one family, there was a custom of saving for children's education with Dragon 20 Sen coins.

Thus, the Dragon 20 Sen silver coin was deeply rooted in Japanese economic activity, and its circulation contributed to revitalizing local economies. As the value of currency was stable, merchants and farmers could trade with confidence, which was a factor supporting the economic growth of Japan as a whole. The Dragon 20 Sen silver coin was more than just currency, and for Japanese people of the Meiji era, it was a symbol of a new era.

In 1905, the design of the Meiji Dragon 20 Sen silver coin underwent a change with the advent of a new era. In Meiji 38, the government reviewed the coin design, which led to the disappearance of the dragon motif. This was an important step for Japan to shift to a design that conformed to a more international currency system.

The role of the Dragon 20 Sen silver coin had been fully achieved over the past 40 years, and its design left a deep impact on Japanese coin culture. Especially, the combination of the dragon and the rising sun was an iconic design of the Meiji era, etched in many people's memories. The change in design was not simply a renewal of the motif but a strategic choice to enhance Japan's international standing and earn trust domestically and internationally.

After the design change, a new design 20 Sen silver coin appeared, adopting motifs symbolizing Japan, such as cherry blossoms and Mount Fuji, in place of the dragon. This emphasized Japan's cultural identity and was accepted among citizens as the dawn of a new era.

However, the Dragon 20 Sen silver coin continued to be loved by many collectors, with its historical value being re-evaluated. Particularly, as a coin symbolizing the Meiji era, its position remained unshaken, and due to its rarity and beautiful design, it continues to attract the attention of many coin enthusiasts today. In this way, the Dragon 20 Sen silver coin continued to influence subsequent coin designs and played an important role in Japan's history.