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Auction: 25008 - World Banknotes
Lot: 443

(x) Bank of Japan, specimen 1000 Yen, ND (1945), serial number 114,
Issued in the waning months of World War II, this 1,000 Yen specimen note represents one of the most historically charged banknotes ever produced by the Bank of Japan. At the time, the Empire stood on the brink of collapse. Cities lay in ruins, resources were critically depleted, and the economy—battered by years of total war—teetered at the edge of inflationary crisis. Within mere months of this note’s creation, Japan would surrender to the Allied forces, ushering in a new era of occupation, reconstruction, and reform.

This was the highest denomination ever printed by the Bank of Japan up to that point—an extraordinary reflection of the inflationary pressures and fiscal desperation gripping the nation in 1945. Designed for high-value transactions in an unstable environment, few were ever issued, and even fewer survived. What makes this example particularly extraordinary is its status as a Specimen, marked by the bold red overprint (Mi-Hon) and punch-hole cancellation. These were never intended for circulation, and were likely produced for archival, presentation, or internal review purposes. Their survival is a rare and fortunate accident of history.

The design itself is austere yet imposing, characteristic of wartime Japanese currency: the chrysanthemum seal symbolizing imperial authority, the intricate guilloché patterns designed to deter counterfeiting, and the commanding denomination—1,000 Yen—emblazoned in traditional and Western numerals. These features combine to deliver a visual message of state power, even as that very state was disintegrating.

For the collector of Japanese banknotes or the historian of World War II finance, this is far more than just a note—it is a document of crisis, transition, and resilience. Few pieces capture the gravity of their historical moment so effectively.
(Pick 45s1), in PMG holder 55 About Uncirculated, rust, second highest grade on PMG Census, scarce

Subject to 5% tax on Hammer Price in addition to 20% VAT on Buyer’s Premium.

Estimate
£3,000 to £6,000

Starting price
£3000