Silver 3 Bun Matsuda

Matsuda Matasuke's San'yō-dō was a private commodity exchange operating in western Honshū during the mid-Edo period, and this note represents the kind of locally-backed scrip that proliferated before the Tokugawa shogunate moved to suppress unauthorized private paper money issuance. The denomination — three silver bun — places it in a fractional register used for small commercial transactions in regional markets, not wholesale trade.

Hansatsu of this type are among the more fragile survivors of the Edo monetary system. The narrow strip format was standard for the genre, and paper quality varied considerably between issuers, making condition a genuine concern rather than a formality.