1 Yen - Meiji small type

The small gold yen was introduced as Japan restructured its monetary system under the New Currency Act of 1871, which abandoned the chaotic feudal coinage in favor of a decimal system modeled partly on the Latin Monetary Union. This particular type — reduced from the earlier large yen — reflects an 1880 revision driven by Japan's need to align its gold reserves with actual circulation demands as silver depreciated globally. The Osaka Mint struck all domestic gold coinage during this period, having been established in 1871 with machinery and technical staff imported from Hong Kong's Royal Mint.

Production effectively ceased before 1892 as Japan moved toward a formal gold standard, codified by the Coinage Act of 1897.