Wonderful
Japan Central Bank of Western India Yokuhama $25 9.2.1866 Pick S244a.
A wonder in and of itself. Japan at this time was just reluctantly opening itself after centuries of self-imposed isolationist foreign policy. The date of issue, 1866 is recognized as the penultimate year of the Tokugawa Shogunate, and only a few years after Commodore Perry's visit.
During this time, the currency in circulation was still based on the old mon, shu, by and ryo system, in physical form as coins, specie and hansatsu issued by various domains. The Central Bank of Western India, the first foreign bank in Japan which was established in 1863, took the precedence in issuing in (Mexican) Dollars, as most foreign trade was conducted in the currency. The bank eventually folded due to economic crisis in its home city of Bombay in 1866. Its notes are not assumed to have been issued in large amounts (even though it was the first bank) as heavyweights such as the Oriental Bank and Hongkong and Shanghai Banking Corporation took over business with the largely British trading houses. Eventually, as the Japanese established their own western-style banks (Bank of Japan) and exchange banks (Yokohama Specie Bank), the remaining foreign banks were pushed out and their notes largely redeemed.
This cancelled example (all examples extant are cancelled) is the finest this cataloger has seen. The red stamp remains sharp, with manuscript dates and signatures still deeply colored. All fine details of the steel plate printing are excellent, with no missing parts of the design on either the face or the back. Collectors should also take note, as all major references list this note as "uniface" even though it is not so. An exhilarating and appealing example from an important time in history not only in Japan, but in Asia and around the world. PCGS Very Fine 25, pen cancelled, small edge splits, missing upper left corner tip. For more info call me +91 8686211191 damubn@gmail.com
During this time, the currency in circulation was still based on the old mon, shu, by and ryo system, in physical form as coins, specie and hansatsu issued by various domains. The Central Bank of Western India, the first foreign bank in Japan which was established in 1863, took the precedence in issuing in (Mexican) Dollars, as most foreign trade was conducted in the currency. The bank eventually folded due to economic crisis in its home city of Bombay in 1866. Its notes are not assumed to have been issued in large amounts (even though it was the first bank) as heavyweights such as the Oriental Bank and Hongkong and Shanghai Banking Corporation took over business with the largely British trading houses. Eventually, as the Japanese established their own western-style banks (Bank of Japan) and exchange banks (Yokohama Specie Bank), the remaining foreign banks were pushed out and their notes largely redeemed.
This cancelled example (all examples extant are cancelled) is the finest this cataloger has seen. The red stamp remains sharp, with manuscript dates and signatures still deeply colored. All fine details of the steel plate printing are excellent, with no missing parts of the design on either the face or the back. Collectors should also take note, as all major references list this note as "uniface" even though it is not so. An exhilarating and appealing example from an important time in history not only in Japan, but in Asia and around the world. PCGS Very Fine 25, pen cancelled, small edge splits, missing upper left corner tip. For more info call me +91 8686211191 damubn@gmail.com
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