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Japan's First Commemorative Coins - How they Changed the World's Mints

As a note, I should have been saying Summer Olympics and not just Olympics in the video as coinage from the Winter Olympics have a different history that I plan to do a video on too. Commemorative coins are now a common thing. Most mints produce multiple a year. We could not imagine an Olympics without commemorative coins. Japan Mint was late to issuing commemorative coins, however, their first commemorative coins changed the market. In 1964 Tokyo Japan was hosting the summer Olympics. The first Olympics game in Asia it gave Japan a chance to show the world the new Japan. Massive infrastructure investment, new hotels, subway lines, trains, a new highway, and the first shinkansen (bullet train). Years of preparation for 15 days of games from October 10th to October 24th. 100 Yen On January 14th 1964 Kenji Fukunaga of the Olympics Organizing Committee proposed a commemorative coin for the Olympics game. Something that had only been done once before back in 1952 (Twice if you also count the Winter Olympics). on the 21st the government agreed and a design compaction was held. From February 22nd to March 26th 30,512 designs were submitted. The winner was submitted by Shoko Maejima who at the time was 20 years old and worked at a department store. The prize money was 500,000 yen, the equivalent of 2,200,000 yen in 2022. On July 1st the Olympic 100 yen went into production. Containing 60% silver and weighing 4.8 grams 80 million Olympic 100 yen coins were produced. 1000 Yen On February 19th, 1964 the Tokyo Olympic Organizing Committee elected to urge the government to issue a commemorative 500 yen coin. At the time the 500 yen was a bill and not a coin like today. On April 3rd the government elected to make a commemorative 1000 yen coin. At the time, and still today, the 1000 yen is a bill On April 15th the 1000 yen was approved by the Diet. The design was outsourced to a private company and 15 million coins were produced, pushing the mint's ability to its limit. The coin is 20 grams of sterling (92.5%) silver. The coins could be bought or traded for face value at financial institutions. The 100 yen became available on September 21st and the 1000 yen became available on October 2nd. The 1000 release had a very strong interest and people formed long lines to get them. 9.5 million were sold on the first day and by the next day, they sold at a premium on the secondary market. Both coins instantly became collector items and did not circulate much if at all. This is part of the reason that both coins are often in very good condition. Other nations took note of the exceptional success of the 1964 coins. Every Summer Olympics sense has had commemorative coins. In addition, Japan Mint, and others, started issuing more commemorative coins. It is the only commemorative 100 yen made out of silver. In 1966 was the last year Japan put silver in circulation coins. The rest of the commemorative 100 yens are made out of base metal. The 1000 yen and silver commemorative in Japan had a more spotty history. The 1000 yen denomination disappeared until 2002 when it returned as a .999 fine troy oz coin. This 1000 yen pure troy oz coin is now the standard for Japanese commemorative coins. During the time between 1964 and 2002 some silver 5000 and 10000 yen coins were issued occasionally. The 10000 yen coin was issued one and was 20 grams of pure silver. the 5000 was always 15 grams but could be sterling or pure silver. 00:00 Intro 00:28 Background 01:27 A Coin For the Olympics 02:48 A Bigger Coin! 03:46 The Release 04:34 What Happened Next? 06:17 Ending