JAPAN

Coin

Hōeitsūhō

10 Mon

(1708)

9-B740

🪙 Hōeitsūhō (宝永通宝) 🪙 

1. Historical Background of Issuance

　The Hōeitsūhō was first cast in 1708 (Hoei 5), during the reign of the fifth shogun, Tokugawa Tsunayoshi.

　At the time, several factors overlapped:

• Expansion of government expenditures during the Genroku era

• Monetary instability caused by the Genroku gold and silver recoinage

• Shortage of copper

• Insufficient small-denomination coinage in circulation

　Under these circumstances, the Tokugawa shogunate attempted to generate effective fiscal revenue (seigniorage) by issuing a coin with a high nominal value—specifically, a “10-Mon coin.”

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2. Institutional Position of the Hōeitsūhō

🪙 Denomination

• Official face value: 10 Mon

• Estimated intrinsic/market value: Likely less than ten Kan’ei Tsuho coins

　In other words, it was a coin whose nominal value exceeded its intrinsic value—a fiduciary, overvalued issue.

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3. Physical Form and Minting Characteristics

🪙 Diameter and Weight

• Diameter: Approximately 39–41 mm

• Weight: Average 15–20 grams (with significant variation among specimens)

🪙 Material

• Primarily copper, though examples with iron impurities are common

• Overall metal quality is generally low

• Casting flaws such as voids and cracks are frequently observed

🪙 Calligraphic Features

• “宝 (Ho)” — the crown radical (宀) is wide and horizontally spread

• “永 (Ei)” — the water radical tends to extend vertically

• “通 (Tsu)” — the sweeping stroke of the shinnyō radical is pronounced

• The spacing of “宝永” appears somewhat compressed

The characters are bold and powerful in appearance, though lacking in delicacy.

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4. Minting System and Production Sites

　The Hōeitsūhō is believed not to have been produced exclusively under direct shogunate management, but rather under a contract-based minting system.

　Major production sites are thought to have included:

• Fukagawa (Edo)

• Kyoto

• Osaka

　The possibility of additional provincial minting has been suggested, though surviving historical documentation is insufficient for definitive conclusions.

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5. Differences Between Mother Coins and Circulation Coins

🪙 Mother Coins (Pattern Coins)

• Superior copper quality

• Smooth casting surfaces

• Sharp and clear characters

• Stable and consistent weight

　Very few examples survive today, and market prices can reach several hundred thousand yen or more.

🪙 Circulation Coins

• Rough metal surfaces

• Frequent casting voids

• Significant weight variation

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6. Economic Impact

　The Hōeitsūhō failed to gain sufficient public trust:

• It did not circulate fully at its official value of 10 Mon

• It often traded at a discount

• It contributed to inflationary tendencies

　As a result, minting was halted after a relatively short period.

　This policy is often compared with the later “100-Mon” denomination policy, exemplified by the 天保通宝.

International shipping

We use the Japan post Service (Closed on Saturdays, Sundays)

Takes 25-45 days (Mail with tracking number & insurance)

Combined Shipping Always

Payment policy

Please make a payment within 3 days, otherwise automatically unpaid case will be opened

As always, the coin pictured is the coin you will receive

 

We do our best to describe the coin up for bid in our amateur opinion

 

Please look at the pictures and grade for yourself

We have not cleaned or altered coins