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Japan is a sovereign island located off the Eastern Asian mainland. Japan has one of the world’s largest economies, and its government is comprised of a unitary parliamentary constitutional monarchy. Tokyo is the capital of Japan, and the country’s national language is Japanese. Japan has a population of nearly 127 million inhabitants, and the country is made up of eight regions and 47 prefectures. Tokyo is a major financial center, and the capital city has a population of over nine million.
The official currency of Japan is the Japanese Yen. The Japanese currency is one of the most widely traded currencies in the world, and is often sought out during times of global economic or geopolitical distress. This is due to the fact that the Japanese Government and economy are perceived to be very stable, and its currency is often referred to as a safe haven investment. The Japanese Yen is also a preferred global reserve currency, along with other major global currencies such as U.S. Dollars, euros and Great British Pounds.
The Bank of Japan is the nation’s central bank. The bank is headquartered in Tokyo, and was established back in 1882. The Bank of Japan, like other major global central banks, has numerous responsibilities that include banknote issuance and maintenance, monetary policy implementation, settlements, government securities operations and more.
If you are looking to buy silver in Japan, you will likely see prices quoted by the ounce, gram and kilo in yen. You may also be able to see quotes based in other key global currencies such as U.S. Dollars, euros or Pound Sterling.
The Iwami Ginzan silver mine was the largest silver mine in Japanese history. The mine was discovered in 1526 and closed in 1923. This mine played a key role in East Asian trade for a long time. Silver was valued as a key form of currency, and the metal produced by this mine was of very high quality, earning it the nickname “Soma silver,” based on the village in which the mine was located. Coins produced from this mine’s silver were used not only in Japan, but also as a medium of exchange with trading partners such as Portugal, China and The Netherlands.
The Japan Mint produces not only Japanese circulation coinage, but commemorative coins and medals as well. The mint has produced a number of collectible coins celebrating various events or people in Japanese history. The Image of the 60th Anniversary of Enforcement of the Local Autonomy Law 1000 yen silver coin is a great example.
Although such collectible coins can add value and diversity to any collection or portfolio, they may also come with higher premiums compared to large mintage bullion coins. If you are looking to acquire as many total ounces of silver as possible, then silver bars and rounds may provide the best overall per-ounce value. Bars of larger weights can even offer a further per-ounce cost savings compared to lighter-weight bars.