Watch List notes:

JAPAN. Copper 1/2 Yen Pattern, Year 3 (1870). London (British Royal) Mint. Mutsuhito (Meiji). PCGS SPECIMEN-63 Red Brown.
KM-Pn15; JNDA-Unlisted; JC-Unlisted; Jacobs/Vermeule-Unlisted; Bank of Japan Collection-157. This elusive pattern is among the less commonly seen of the early Meiji patterns, if such a statement can be made cogently. It eluded cataloging by Jacobs and Vermeule and has only shown up a vanishingly small amount in the numismatic record. The design is identical in nearly every element to the Yen pattern of the same year, excepting the denomination, which clearly denominates this piece as a 1/2 Yen. Somewhat curiously, Japan chose to denominate this valuation in the future at 50 Sen, eschewing fractional denominations. Whatever the reasoning behind this decision, this has left this pattern denomination as EXCEPTIONALLY RARE, with PCGS recording one striking in copper, this example, and one in white metal.

Stunningly struck surfaces offers up much in the way of handsome mint red, most evident near the protected elements of the entrancingly applied design. The coin shows very little evidence of handling, implying that it had been revered and treasured since the near the time of its striking. In the end this mysterious piece offers the chance to own one of the most compelling of Japanese issues, and one that is unlikely to be offered again in the near future, with this cataloger only able to find other examples in museum collections. For those who love to own pieces that are among the most difficult to locate, this Pattern should call out to be bid upon.

Estimate: $10000 - $20000