20 sen coin

Twenty sen coins were first struck towards the end of 1870 (year 3 of Meiji) from a newly established mint at Osaka.[4][5] Initially, this process was done by engineers from the United Kingdom as Japan did not have the technology or raw materials to manufacture new coins.[6][7] Authorization was given to strike 20 sen coins in .800 silver, weighs 72.2 grains (4.68g), and has a 23.62mm diameter (0.93 in).[8][9][lower-alpha 1] The first design used is nicknamed "rising sun dragon" (旭日竜, Asahi Ryu), which had its features engraved by a commission of Japanese artists.[6] The obverse side features a dragon with an open mouth, while on the reverse there is a paulownia decoration with a sunburst in the center, and the chrysanthemum seal up on top. While dated 1870 (year 3), these first year twenty sen coins were not released into circulation until the following year (1871).[12] During this time, the coins along with twelve other denominations were adopted by the Meiji government in an act signed on June 27, 1871.[13][14] This newly adopted coinage gave Japan a western style decimal system based on units of yen, which were broken down into subsidiary currency of sen, and rin.[15][16] Twenty sen coins were legal tender only up to the amount of 10 yen which was fixed by government regulations.[17]

An issue soon arose when the weight of silver twenty sen coins per face value became too light in regard to the higher valued silver 1 yen coin. As a remedy, an amendment to the new currency act (Daijo-kan Declaration No. 341 (新貨幣量目寸法改正)) was adopted in November 1872 (year 5) which intended to increase the weight of the twenty sen coin. This action was never carried out, and the currency act was amended again in the following year.[12] Changes in weight, diameter, and design features of the twenty sen coin was implemented in February 1873 (year 6) by Daijo-kan Declaration No. 46.[18] The weight issue was resolved by adjusting the coin from 72.2 to 83.2 grains (5.4g) to avoid any public mistrust on the silver content.[8][9][19] Twenty sen coins were also reduced slightly in diameter from 24mm to 22.42mm.[18] The second used design has a "western style" medallic orientation, which is nicknamed "dragon silver 20 sen" (竜二十銭銀貨) as the sunburst on the reverse was replaced by a wreath. Arabic script is used for the first time with "20 SEN" on the obverse under the dragon.[18][20] Architect Edward Reed mentions that twenty sen coins continued to be minted until at least June 30, 1878.[21][22] Its theorized that the Satsuma Rebellion could have had an impact as their production was subsequently halted.[18] Only proof strikes were made for coins dated 1880 (year 13) for exclusive use in presentation sets.[23]

Japan experienced a sharp drop in prices as the economy contracted over the next few years in response to high inflation caused by the Satsuma Rebellion.[24] The Bank of Japan was established in 1882 (year 15) to remedy the situation, and eventually twenty sen coins dated 1885 (year 18) were minted again.[24][25] For reasons unknown there are no twenty sen coins dated 1889 or 1890 (year 22 and 23). Coincidentally, during this time a special fund was created to redeem all government notes for silver.[25] The Japanese government promulgated the "currency law" (Meiji 30 Law No. 16) in 1897 which replaced the previous "new currency act". This law abolished the silver yen at which subsidiary silver coins were previously fixed at, and officially switched Japan from a silver standard to a gold standard. No changes were made to twenty sen coins as they were re-established to their previous weight, dismater, and design.[26] Production continued as the price of silver bullion remained steady throughout the rest of the century. The situation changed in 1903 (year 36) when the sharply rising price of silver bullion threatened to exceed the face value of the twenty sen coin.[18][27] An amendment to the "currency law" was promulgated in March 1906 which lowered the diameter and weight of twenty sen coins from 22.42mm to 20.3mm, and from 5.4g to 4.1 grams.[27][28]

The third and final design used on these smaller and lighter coins is nicknamed "rising sun 20 sen" (旭日20銭銀貨, Asahi Nijusen), as a sunburst design was restored for the reverse.[27] A wreath which had been previously used on the reverse side was adopted for the obverse as the dragon design was abandoned. This was due to the aftermath of the First Sino-Japanese War which lasted from 1894 to 1895.[29] The dragon symbol was no longer viewed positively by the Japanese as the Qing dynasty (in practice) honored it.[29] No additional changes were made afterwards as the coins continued to be produced for circulation until 1911 (year 44).

Emperor Taishō was enthroned in 1912 following the death of Emperor Meiji. Coinage in general was impacted by World War I which broke out two years later, bringing Japan a booming economy due to a large trade surplus.[30] The negative effects from this event included an increased demand for subsidiary coins which led to a coin shortage.[31][32] Silver bullion was in high demand causing prices to rise above the face value of the twenty sen coin.[27] The Japanese government responded by taking measures to temporary ban the export of silver. These efforts were ultimately unsuccessful which led to the issuance of 20 sen emergency banknotes in November 1917.[27][30] As the price of silver rose, the issue of coinage was also addressed for twenty and fifty sen coins. The "currency law" was revised in May 1918 (Law No. 42) to lower the silver content in twenty sen coins to 72% silver and 28% copper.[33] Other changes included a reduction in diameter from 20.3mm to 16.7mm, and in weight from 4.1 to 3 grams.[34] The coins struck from 1918 to 1921 are known as Yatagarasu sen (八咫烏銭, eight-span crow sen) after the design featured on them.[34][lower-alpha 2] None of these proposed coins were ever released for circulation through the Bank of Japan as they were trial or pattern strikes.[27][34][36] Twenty sen banknotes were last issued in 1919 and were allowed to circulate until their suspension on April 1, 1921.[37][38] By this time, efforts to re-establish the twenty sen coin were abandoned as silver bullion rose above their face value again.[27] Twenty sen coins were eventually demonetized at the end of 1953 when the Japanese government passed a law abolishing subsidiary coinage in favor of the yen.[39] Currencies of less than one yen were rarely used by this time due to excessive post-war inflation.[40]