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Tensho Oban(Tensho Naga Oban)
@ The Tensho Oban was minted by Toyotomi Hideyoshi in 1588. An oval coin
with a fine-gold content of 70-74 percent, it weights about 165 grams. The Naga
Oban, pictured above, was minted in 1592 and is considered the world's
largest extant gold coin, with dimensions of approximately 17~10 centimeters.
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Following Nobunaga Oda's unification of Japan in the late 16th century,
Toyotomi Hideyoshi became the nation's most powerful feudal lord. Using his political influence, he
confiscated gold and silver mines and levied taxes on mining profits to enhance his economic
power. Securing significant amounts of gold and silver, Hideyoshi minted a series of gold and
silver coins from 1573 to 1592.
Of these coins, the most famous was the Tensho Oban. This gold coin, whose 165 grams were
equivalent to one bag of gold dust, was stamped with emblems of paulownia on
both sides as a
guarantee of its fine quality. Its weight, as well as the name and signature of the mint
official,
were written on the obverse in black-ink calligraphy. A large-denomination currency, the
Tensho Oban was rarely exchanged in daily transactions. Instead, it served
mainly as a reward or gift to
the Imperial Family, aristocrats, or samurai warriors. Mintage of the oban
was entrusted to the
Goto family of chasers, who had served the Muromachi government (1338-1573) for
generations.
In addition to the Tensho Oban, Small gold and silver coins named
Tensho Tsuho and Eiraku Tsuho were minted to serve as rewards. Another silver coin,
Gokuyo-gin, was minted to
finance Japan's war in Korea. Its obverse was engraved with characters reading
gGokuyo,h to
enable kirizukai, or the slicing off of a portion of the slug corresponding in weight to the
payment demanded.
Most of the coins minted under Hideyoshi's regime served as rewards or gifts, and were not
recognized as a means of payment for daily transactions. Nevertheless, historians of Japanese
money acknowledge Hideyoshi's gold and silver coins as a form of currency, because merchants
in Hakata and Sakai who imported silk and porcelain from China accepted the coins as a means
of payment. As a result of their standardization of weight and shape to allow weighing and
cutting, Hideyoshi's gold and silver coins helped prepare the way for a unified
currency system,
which was achieved by Tokugawa Ieyasu during the Edo Period.
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