History of Japanese Paper Currency（Meiji era）
update：2024/3/28
1868 (Keio 4)
History of Japanese paper currency
Dajokan satsu (Ground Council of State Note) was issued as the first government note circulated throughout Japan.
Major events
- Formation of the Meiji Government to replace the Edo shogunate
- The era name is changed to Meiji in September of 1868
Meiji 3（1870）
History of Japanese paper currency
The government commissioned a German company to produce the New Note (known as the German Note) to replace Dajokan satsu because the simple currency printing methods of the time resulted in a high incidence of counterfeiting. The note was issued in 1872.
Meiji 4（1871）
History of Japanese paper currency
An American company was commissioned to produce a National Bank Note (old type). The note was issued in 1873.
Major events
- Promulgation of the New Currency Act (adoption of yen and the decimal system in place of ryo)
- Establishment of the postal system
- Establishment of Paper Money Bureau
- Promulgation of the National Bank Act
（Meiji 5）
Postal rate
Envelopes (5 momme≒18.75g): 100 mon
Meiji 10（1877）
History of Japanese paper currency
The National Bank Note (new type), the first domestically produced Western-style note, was issued. This was the first note that Edoardo Chiossone engraved in Japan.
Major events
Postal rate
Envelopes (2 momme≒7.5g, out-of-town service): 2 sen
Postcards (out-of-town service): 1 sen
Meiji 14（1881）
History of Japanese paper currency
The Remodeled Note, the first note to feature a portrait, was issued in place of the New Note.
The note was called the Empress Jingu Note because it featured a portrait of Empress Jingu.
Major events
- The establishment of the Diet is decided(The first Imperial Diet convened in 1890)
Meiji 18（1885）
History of Japanese paper currency
The first Bank of Japan silver-convertible note was issued. As the note featured the image of Mahākāla, a Hindu god (Daikokuten in Japanese), it became popular as the Daikoku Note.
Major events
- Establishment of the Bank of Japan
（Meiji 15）
Postal rate
Envelopes (2 momme≒7.5g): 2 sen
Postcards: 1 sen
Meiji 21（1888）
History of Japanese paper currency
Portraits of historical Japanese characters (Sugawara-no-Michizane, Takeuchi-no-Sukune, Wake-no-Kiyomaro and Fujiwara-no-Kamatari) were featured in the remodeled silver-convertible notes, which were issued sequentially from 1888 to 1891.
Major events
- Promulgation of the Constitution of the Empire of Japan
（Meiji 22）
Meiji 24（1891）
History of Japanese paper currency
Japan’s largest-sized note was issued.(Remodeled 100-yen note: 130 mm x 210 mm)
Meiji 32（1899）
History of Japanese paper currency
The Bank of Japan gold-convertible note was issued with the introduction of the gold standard.
Major events
- The Coinage Act is amended stipulating a change from the silver standard to the gold standard.
Postal rate
Envelopes (4 momme≒15.0g): 3 sen
Postcards: 1.5 sen
Postage fees change: “Postal Statistics” (edited and published by Management Planning Division of Postal Bureau, Ministry of Posts and Telecommunications)
Remodeled 100-yen note: provided by the Currency Museum of the Bank of Japan