Blizzardboy | A Kiwi in Japan

http://www.imes.boj.or.jp/cm/english_htmls/index.htm

Another weekend almost over, warm weather last week and up till a couple of hours ago. Not exactly the kind of weather one wants to spend indoors. But the forecast for the next couple of days is for rain and I have a little suggestion for something to do on a rainy day in Tokyo - visit the Currency Museum in Nihonbashi/Mitsukoshimae.

(Old Bank of Japan building on the left, currency museum on the right - as seen coming out of Hanzomon Line Mitsukoshi-mae Station exit B1)

The Currency Museum (KaheiHakubutsukan) is annexed to the main Bank of Japan buildings in Nihonbashi and run by the Institute of Monetary and Economic Studies. Sounds like dry stuff. And it is;) You wont find Minnie Mouse running around debasing herself in front of gasping 20 something Japanese couples. (a little off topic - caught a bit of a programme showcasing Tokyo Disneyland on tv last night).

The museum traces the development of currency in Japan from its beginnings where things such as rice, hemp cloth, arrowheads and gold dust were used as a medium of exchange, through to the current managed currency system. The story of the changing types of money is quite a fascinating one mirroring to a large extent the ebb and flow of political power throughout Japanese history.

The first coins widely circulated in Japan were known as Wado Kaichin or Wado Kaiho were minted during the 8th century. However, over the course of the following 250 years or so the percentage of precious metals was reduced leading to the reintroduction of a commodity money system (eg. rice or hemp cloth). Then, by the 12th century, the use of Chinese coins obtained through trade became widespread. To meet the shortage of currency this caused imitations of the Chinese coins were privately minted. Paper currency was first used in the beginning of the 17th century.

This situation lasted until the 17th century when the Tokugawa shogunate consolidated their rule of Japan. The Tokugawas began the centralisation of the currency system that created the foundation for the system in use today.

During the Meiji Period (from 1868) there were a wide range of monies in use in Japan - gold, silver and copper standards, merchant issued paper money, as well as government issued money denominated in ryo. This situation led to a great deal of confusion due to complicated exchange rate systems and the widespread counterfeiting of coins and notes. This was rectified by the introduction of the yen in 1871 tied to a gold standard of 1.5 grams of gold per gram.

As well as documenting what I have briefly described above, the museum also covers money during the Second World War, ancient methods of hiding money and has a collection of foreign currency. Interesting to see the old New Zealand banknotes.

(Tsuba - sword hilt used to hide stuff)

The best thing about the museum though is that it is free.

Open 9:30-16:30 (last admission 4pm), the museum is closed on Mondays, national holidays (except Saturdays and Sundays) and over New Years.

3 minutes walk from Ginza Line Mitsukoshimae Station A5 exit.
1 minutes walk from Hanzomon Line Mitsukoshimae Station B1 exit.

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