Coin Japan 5 Monme - Meiwa Go-monme-Gin - 1765-1768 - Silver - Rare

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The Go-monme-gin was the inaugural coin issued with the purpose of establishing a fixed exchange rate between gold and silver. Designed by Kawai Hisagata under the direction of Tanuma Okitsugu, it was released on August 4th, 1765. It stands out as the sole coin denominated in Silver Monme.

Initially, the government set the exchange rate at 60 Monme of silver equaling 1 Ry? of gold. However, the market dictated a rate of 63 Monme of silver for 1 Ry? of gold. Moreover, exchange shops profited from exchange fees, contributing to the unpopularity of the Go-monme-gin. Despite not being officially demonetized, the coin gradually vanished from circulation, prompting the government to initiate withdrawal procedures on July 23rd, 1768.

The Tanuma 5 Monme silver coin derived its name from Tanuma, who held the title of Tonomo no Kami, or Chief of the Palace Bureau, one of the highest-ranking officials of his time. Tanuma advocated for the confiscation of personal silver ornaments as a luxury, redirecting them towards the production of silver coins. (Munro)

460 Silver
Ø 44.00mm, Weight 19.93g
KM. C.10, VF
Japan