Japanese currency

Japan's first formal currency system was the Kōchōsen (Japanese: 皇朝銭, "Imperial currency"). It was exemplified by the adoption of Japan's first official coin type, the Wadōkaichin. It was first minted in 708 CE on order of Empress Genmei, Japan's 43rd Imperial ruler."Wadōkaichin" is the reading of the four characters printed on the coin, and is thought to be composed of the era name Wadō (和銅, "Japanese copper"), which could alternatively mean "happiness", and "Kaichin", thought to be related to "Currency". The pronunciation of "Kaichin" also sounds similar to "happiness" in Chinese "开心". This coinage was inspired by the Tang coinage (唐銭) named Kaigentsūhō (Chinese: 開元通宝, Kai Yuan Tong Bao), first minted in Chang'an in 621 CE. The Wadokaichin had the same specifications as the Chinese coin, with a diameter of 2.4 cm and a weight of 3.75g. The main items of commodity money in Japan were arrowheads, rice grains, and gold powder, as well as hemp cloth. This contrasted somewhat with countries like China, where one of the important items of commodity money came from the Southern seas: shells. Since then however, the shell has commonly become a symbol for money in many Japanese ideograms.

Chinese shell money from the 16th to 8th centuries BCE. They were widely accepted, easily portable and storable, they were also easily combined and divided in order to correspond with different values.

Japanese commodity money before the 8th century, including: arrowheads, rice grains, and gold powder. Now in the Japanese Currency Museum.

The Japanese embassy to the Tang court.

The Nihon Shoki entry of 15 April 683 (Tenmu 12th year) mandates the use of copper coins.

Known coin types of Japan from 708 to 958, chronologically arranged.

Japan's contacts with the Chinese mainland became intense during the Tang period, with many exchanges and cultural imports occurring. The first Japanese embassy to China is recorded to have been sent in 630, following with Japan, who adopted numerous Chinese cultural practices. The importance of metallic currency appeared to Japanese nobles, probably leading to some coin minting at the end of the 7th century, such as the Tomimotosen coinage (富元銭), discovered in 1998 through archaeological research in the area of Nara. An entry of the Nihon Shoki dated April 15, 683 mentions: "From now on, copper coins should be used, but silver coins should not be used", which is thought to order the adoption of the Tomimotosen copper coins. The first official coinage was struck in 708.

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