Japan Mint To Produce More One Yen Coins

Coin enthusiasts in Japan (if there are any) should be cheered by the news that the Japan Mint in Hiroshima is minting new one-yen coins.

According to the Mainichi Shimbun:

HIROSHIMA -- For the first time in four years, the Hiroshima Branch of the Japan Mint is producing 1 yen coins for regular circulation, expecting that more of the coins will be used after Japan's consumption tax increases to 8 percent on April 1. 

Japan Mint officials say that production of 1 yen coins has been decreasing in recent years, as more people use electronic money. A small number of the coins continue to be produced for collectors' sets, however.

Frankly, I think the idea of raising consumption taxes (from 5% to 8%) at a time when Japan's economy is just beginning to recover is a dumb idea. Now is not the time to take away more money from consumers. Allowing consumers to dispose of their income as they see fit would better serve the Japanese economy. It is the politicians' fault that the government amassed a huge debt.

I have a small bag of Japanese coins that I have accumulated during seven trips to Japan (admittedly, I had fewer one-yen coins left over from my most recent trip than from prior trips), the most being are one-yen coins. Perhaps I should bring them with me to Japan on my next trip.

The one-yen coin is an odd coin. They are made of aluminum and weigh very little. The U.S. penny weighs more.

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