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15 Yen - Government bond
| Issuer | Imperial Government of Japan (Nippon Kangyo Bank) |
|---|---|
| Year | 1942 |
| Type | Log in to see details |
| Value | Log in to see details |
| Currency | Log in to see details |
| Composition | Paper |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Reverse printed entirely in black and red on cream paper, comprising dense vertical columns of kanji text setting out the bond redemption schedule, prize draw conditions, discount rate tables and repayment terms across numbered periods (昭和十八年 through 昭和三十九年), with red overprinted serial reference and prize tier table in the central field. |
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| Protection type | Watermark |
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| Comments |
Japan's wartime bond-note hybrids occupy a strange corner of the catalog. The Nippon Kangyo Bank — a semi-governmental agricultural and industrial credit institution founded in 1897 — served here as the nominal issuing vehicle for what was effectively a state war-finance instrument. By 1942, Japan's military expenditures had stretched ordinary budget mechanisms past their limits, and these government bond notes represented one mechanism for mobilizing domestic capital without triggering the full inflationary optics of direct currency printing.
The 15-yen denomination is itself a tell: round-number bonds serve retail savings markets; odd denominations like this typically reflect a specific interest-plus-principal redemption structure baked into the face value at issue.