8 Useful Tips About the Japanese Currency “Yen”!

8 Useful Tips About the Japanese Currency “Yen”!

For tourists, businessmen and other people visiting Japan, it would be a good idea to know something about the Japanese Currency. It would also be to a tourist’s advantage to know where to get best deals for foreign currency exchange. Usually this is best done at the Narita Airport.



 

8 Useful Tips About the Japanese Currency “Yen”!

 

1. Types of Yen and It`s Value

Silver dollar coins or “rounds” came to China from Mexico. But in time, these dollars resembled more and more the Mexican peso but the Chinese preferred to keep the dollar, and opted to sell their minting machinery to Japan which used these for producing the Japanese currency, Yen. Japanese currency coins are in the 1, 10, 50, 100 and 500 denominations. Japanese currency Banknotes, on the other hand are in 1000, 2000, 5000, and 10000 denominations.

 

2. The Beautiful Pictures of the Bill

The 1000 Yen Japanese currency features the portrait of Noguchi Hideo, famous Bacteriologist, and Mount Fuji with Cherry blossom on each sides. The 5000 Yen notes has Higuchi Ichiyo, a writer and poet during the Meiji era, on the front side and Japanese Irises on the back. The 10,000 Japanese currency Banknote highlights the portrait of Fukuzawa Yukichi, a writer, businessman, journalist and founder of several institutions on one side and the Chinese phoenix in the Hall of the Phoenix on.

 

3. The Counterfeit Prevention System of the Japanese Yen

To counter attempts at the counterfeiting of Japanese currency, the government redesigned its banknotes and now new notes feature a woman, Mount Fuji, cherry blossoms. The new bills will also have holograms, watermarks and special inks. The government also issued deadlines for old Japanese currency notes to be exchanged for new.

 

4. There is a limit in the use of the coins

There is limit in the usage of coins in Japan. The reason for this is that Japanese currency coins pile up quickly. According to Japanese Law, if you attempt to pay with over 21 of the same type of coin, the recipient is allowed to not recognize it as legal tender and demand a different form of payment.

 

5. Damaged Bills

Japanese currency bills that have been damaged, contaminated or found no longer suitable for use, is not a big issue in Japan. Just bring the bill to the nearest bank for replacement. However, it would be a good idea to consider the following link as a guideline for the exchange of damaged cash in Japan.

 

6. Premium Coins

The value of the premium coins depend on the year the coin it self was manufactured. For example, if your 1 Yen was manufactured from 2011 to 2013, the present value of that coin is 400 Yen. You can bring that coin to a cash voucher shop and they will trade it for it`s present value. Your 50yen coin can be traded if it was manufactured from 1987 to 3000 Yen. If you want to know more, try visiting the cash voucher shop or Kinken shop as they call it in Japan.

 

7. Daikokuya is a Recommended Foreign Exchange Service

Daikokuya is one of the leading foreign currency exchange establishments, exchanging 11 currencies. Daikokuya branches also offers train tickets and pawnshop services on selected branches aside from Japanese currency exchange. Daikokuya is a trusted Japanese currency exchange service all over Japan.

 

8. Good Deals for FX Company Fees

Although, the Japanese currency, Yen, is the third most traded currency in the world, foreign exchange in cities can be tough. Good deals for Japanese currency exchange aside from Daikokuya and banks are post office ATM’s. These ATM’s charge a 1% fee. Foreign currency exchange counters in and around international airports such as Narita charge the same 1% fee.

 

Conclusion

It is easier and more economical to obtain Japanese currency in Japan rather than exchange currency from the country of origin. Before going to any destination in Japan, it’s good to know where you can secure the best deals in exchanging your money to Japanese currency.

 

8 Useful Tips About the Japanese Currency “Yen”!

1. Types of Yen and It`s Value
2. The Beautiful Pictures of the Bill
3. The Counterfeit Prevention System of the Japanese Yen
4. There is a limit in the use of the coins
5. Damaged Bills
6. Premium Coins
7. Daikokuya is a Recommended Foreign Exchange Service
8. Good Deals for FX Company Fees