Banknotes of the Japanese yen
The banknotes of the Japanese yen are part of the physical form of Japan's currency. The issuance of the yen banknotes began in 1872, two years after the currency was introduced. Throughout its history, the denominations have ranged from 0.05 yen to 10,000 yen.
Japanese currency
Following the devaluation of silver, and the abandon of silver as a currency standard by Western powers, Japan adopted the gold standard through the Coinage Law of 1897. The yen was fixed at 0.75g of pure gold, and banknotes were issued which were convertible into gold. In 1899, the National Banks banknotes were declared invalid, leaving the Bank of Japan as the only supplier of currency.
During World War I, Japan prohibited the export of gold in 1917, as did many countries such as the United States. Gold convertibility was again shortly established in January 1930, only to be abandoned in 1931 when Great Britain abandoned the gold standard. Conversion of banknotes into gold was suspended.