Another Silver Yen

dbooster in Hive Collectors • 15 days ago

I just picked up another ¥100 coin the other day.

I don't know why exactly, but these are becoming a little scarce these days. At least at the coin shop I frequent. No idea why that is. Maybe with the price of silver crawling upward, people are starting to hoard them more?

All of them are 60% silver. That may be kind of a let down compared to the 90% US junk silver, but hey — silver is silver, eh? The coins themselves are 4.8 g, meaning there is about 2.9 g of silver in them, giving them a melt value of roughly $3.50.

If I go to one of the online auctions, I am finding them around ¥1000 ($6.79) at the lowest and much more at the highest, which is a little crazy. I suppose people on online auctions get a little carried away and don't check the actual value before bidding.

While I'd love to have more, I'm not chasing crazy prices. So I just pick one or two up every now and then when I can find them at more reasonable rates.

There are three of them. The first, minted in 1958 and 1959 is my favorite of the bunch. A phoenix on the obverse and a neat design on the reverse.

Unfortunately this design was not long for the world. The phoenix was a symbol of the emperor and given the post-war ideology, the postwar government decided that it was inappropriate. Whether a good call or not, I don't mind that the phoenix went away, but it's a shame that the cool pattern on the reverse did as well.

The next version of the coin, lasting from 1959 until 1966 (silver would be withdrawn from coins the next year) was this rice stalk design:

Not bad. Rice is very important to Japan, so it is a more appropriate symbol. The reverse changed to a lifeless 100.

In 1964 while the rice ¥100 was still going, there was a special commemorative ¥100 coin to mark the Tokyo Olympics. The design itself is fairly standard.

The coin was meant to circulate alongside the rice stalk coin, but collectors hoarded it and it quickly disappeared from view.

I don't have a huge number of these — like I wrote above, I just buy one or two whenever I see them for reasonable prices — but I enjoy the ones I have.

❦

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15 days ago in Hive Collectors by dbooster

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silversaver888 15 days ago

They are all pretty, @dbooster!
That's the advantage of living in Japan!!! Is the hobby vibrant there?
!BBH
!LADY
!PIZZA

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2 votes

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ladytoken 15 days ago

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geneeverett 15 days ago

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dbooster 14 days ago

I think there is less visible stacking going on in Japan, but coin collecting itself is just as popular, if not more so.

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bozz 14 days ago

I think I like the first version of the coin the most. Very cool.

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kerrislravenhill 13 days ago

I like the Phoenix silver coin when I first seen them. I had a nice double phoenix in a high grade but I gave it a way to a friend as a gift. Easy come, easy go.
Keep on Stacking @dbooster
#stackitus
!PIMP

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dbooster 12 days ago

I have a few of the double phoenixes too. All nice coins!

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geneeverett 15 days ago

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memess 15 days ago

Maybe online dont know its not 100% silver , did you pick any swiss silver coins ?

Almost all coins were made in silver up to 1968, which mean sometime you get silver when paying with cash and recieving the change haha

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dbooster 14 days ago

That could be. Many people probably buy just because it's old and "silver" but they don't know any real details such as how much silver and coin rarity and so on.

Ah, that trick works in the US and some other countries, but in Japan the modern silver-less coins look too different, so I don't think anyone is ever going to make the mistake of using an old silver one. Also, banks are much better about catching the few that they find. In the US I have gotten junk silver from a bank. In Japan I would never get anything except brand new coins from a bank.

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memess 14 days ago

Swiss banks are not less good than japan bank at catching coins, i think that its just that Swiss CHF being a currency with high value the coins are worth more than the silver value of the coin and therefore its "fine" to let the circulate, i must say i see less and less of these coins though but over time have at minimum 10 5CHF coins in silver

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elbuhito 14 days ago

I suppose when the price goes up, people save more 👀 I don't really understand how that works, but maybe that's how it works, waiting for a bigger increase, although it seems many take advantage of the lack of knowledge about the real price to hold auctions at very high prices haha

I hope you can get more silver coins! 😊

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dbooster 14 days ago

I think paradoxically, when the price goes up, people buy more. The advice is suppose to be buy low, sell high, but in practice when people see a price going up, they feel FOMO and start buying it. I think that may be what is happening here.

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ssg-community 15 days ago

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pizzabot 15 days ago (edited)

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thebighigg 14 days ago

I agree, changing the reverse was a huge mistake. It was a beautiful design only to be replaced by a boring one. They probably are being hoarded away now, and with the small amount of silver they shouldn't be too expensive. The problem is now they become expensive due to hoarding and if you chase the market you will lose. They are awesome coins though!

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