History of Japanese Paper Currency（Before the Edo period ）

The Yamada Hagaki, considered as Japan’s first paper currency, was circulated among merchants in the Ise region.

• Battle of Sekigahara (1600)
• Ieyasu Tokugawa establishes the Edo shogunate (feudal government) (1603)

Hansatsu (clan paper currency issued by each domain for use within its territory) was issued for the first time by the Echizen Fukui Domain.

(Yamada Hagaki: provided by the Currency Museum of the Bank of Japan)