Japan
Japan, gold koban (1 ryo), Hoei/Shotoku era (1710-14), PCGS AU58.JNDA 09-15; Fr-11.32mm x 60mm; 9.40 grams.Obverse with crenulations in field, calligraphy in two rectangles and two fan-shaped cartouches at ends; reverse with four Japanese-character hallmarks. Attractive spots of red toning here and there. The Hoei era spanned from March 1704 through April 1711; the Shotoku era followed from April 1711 through June 1716. The reigning emperors were Higashiyama (1687-1709) and his son Nakamikado (1709-35). KM reports that koban of this type are struck in 0.8340 fine gold. These pieces are generally rare and highly sought, especially in certified high grade as here.
Estimate: 10000-20000 USD