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2 Shu 'Kōshū Nishukin'

Issuer Tokugawa Shogunate
Year 1650
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Value 2 Shu = 1/8 Ryō
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Obverse description Circular hammered gold flan enclosed by a beaded border running along the entire periphery. The field bears four boldly stamped Chinese characters arranged in two columns reading right to left: '甲州' (Kōshū, denoting the province of origin) in the right column and '二朱' (Ni-shu, the denomination) in the left column. The characters are deeply impressed in an archaic, stylized script and display the characteristic uneven texture of hand-hammered Edo-period gold coinage. The rough, granular field surface between the legends reflects the artisanal production method of the Kōshū Mint.
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Mintage 1650
Additional information

The Kōshū Nishukin takes its name from Kai Province — historically rendered as Kōshū — where gold mining had been a cornerstone of Takeda clan wealth before Tokugawa Ieyasu absorbed the region following Nagashino. These small gold pieces were produced using gold stocks and minting infrastructure inherited directly from that earlier tradition, making them administratively as much a consolidation of conquered resources as a monetary instrument.

Production is generally attributed to the mid-seventeenth century under the Edo system of licensed gold refiners, the za. The extremely small flan left almost no margin for die error.