Thursday, 15th May 2008 (385 views)

Commemorative gold coins triggered a "collector boom" in Japan when they were first introduced in 1964 to commemorate the Tokyo Olympics and their popularity remains strong today, a report has said.

The Japan Times says the enduring appeal of commemorative as well as antique gold pieces is underlined by a "recent bid" of 30 million yen (£147,013) for a two yen coin dating from 1880.

An official at trading house Taisei Coins told the newspaper that the value of such coins is determined by their scarcity and condition.

He added that smooth-edged ten yen coins from 1959 are among the most valuable and most sought-after coins for Japanese collectors as they are so rare. An unused specimen can fetch up to 35,000 yen, he added.

The ten yen design features a Buddhist temple known as Phoenix Hall. Between 1953 and 1958 the coins had serrated edges before they were replaced with a smooth design.

In recent years, commemorative coins featuring popular characters have also become in demand.

However, he warned against polishing a coin to try and improve its appearance before bringing it in to a dealer.

"If you use polishing powder to make them look good, their value drops," he said

 

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