The E-Sylum:  Volume 11, Number 8, February 24, 2008, Article 45

JAPAN'S FINANCE MINISTRY AUCTIONS COINS

An 1880 Japanese gold coin, 16.97 mm in diameter and
weighing 3.33 grams, is expected to fetch a record high
price of around ¥20 million when the debt-ridden Finance
Ministry puts it on the auction block this Sunday.

"The coin is quite rare. Only 87 of them were produced
in that year and probably less than 10 of them still exist,"
said Toshio Takeuchi, chairman of Ginza Coins Co., a noted
dealer based in Tokyo's Ginza district.

The ministry started auctioning its old coins — which are
still considered modern — in 2005 as part of efforts to
reduce the government's snowballing debt.

In the 12 auctions held so far, 24,500 coins have been
sold for a combined ¥4 billion.

The 1880 coin is well-known among collectors. When Ginza
Coins auctioned one of the same coins in November, it sold
for ¥27 million.

To read the complete article, see:
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To read the complete article, see:
Full Story

[The coin brought ¥32.1 million. -Editor]

  Wayne Homren, Editor

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