Author Topic: Japan: Commemorative Coins Planned for 2020 Tokyo Summer Olympics  (Read 2431 times)

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Offline Bimat

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Govt mulls Olympic currency, lottery tickets

October 13, 2013

The Yomiuri Shimbun

The government has begun work on the fiscal promotion of the 2020 Tokyo Olympics and Paralympics at the first meeting of relevant liaison committee among ministries and agencies held at the Prime Minister’s Office.

So far, the government has decided on policies of issuing Olympics commemorative coins and creating government-run lotteries to support the Olympics via securing funds to build a stadium and other facilities, as well as utilizing donations.

The government is considering issuing commemorative currency, especially ¥10,000 gold coins. For the 1998 Nagano Winter Olympics, the government issued ¥10,000 gold coins, ¥5,000 silver coins and ¥500 nickel coins. The Finance Ministry will decide the details later.

Profits from selling Olympic lottery tickets may be used for constructing the new National Stadium and improving infrastructure, including making urban districts barrier-free. Lotteries were issued in the past three Olympics—the 1964 Tokyo Olympics, the 1972 Sapporo Olympics and the Nagano Olympics—and the proceeds were used for improving sports facilities.

During the Nagano Olympics, proceeds of about ¥8 billion were allocated. The allocation this time will be adjusted by prefectural governments and the Internal Affairs and Communications Ministry.

As a pump-priming policy to attract private-sector funds, the government has also considered issuing investment-and-loan bonds. As for donations for constructing the New National Stadium from the private sector, the government plans to adopt a system that enables the private sector to choose either a deduction from income or a tax exemption through the fiscal 2014 tax system reform.

The liaison committee was set up to promote concrete efforts under the ministerial meeting for the Tokyo Olympics.

Source: The Japan News
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Japan: Commemorative Coins Planned for 2020 Tokyo Summer Olympics
« Reply #1 on: August 26, 2015, 06:06:35 AM »
Govt preparing 2020 Olympic coins

3:27 am, August 26, 2015

TOKYO (Jiji Press) — The government has started preparations to release commemorative coins for the 2020 Tokyo Olympic and Paralympic Games, officials said Monday.

The government is considering launching the first batch of such coins just after the 2016 Summer Olympics in Rio de Janeiro, hoping to heighten excitement for the Tokyo games, according to the officials.

The government will decide when to release the coins after consultation with the organizing committee for the 2020 games.

After that, the government will set details, including the materials to be used for the coins, the issuance schedule and the number of coins to be issued. The government will also consider publicly soliciting designs for the coins.

The Japan Mint has already set up a special office for preparations, the officials said.

Countries where Olympics were held in recent years have tended to issue commemorative coins well ahead of their events, the officials said.

Source: The Japan News
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.

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Japan: Commemorative Coins Planned for 2020 Tokyo Summer Olympics
« Reply #2 on: August 24, 2016, 04:53:59 PM »
Japan to mint coins to mark handover of Olympic hosting to Tokyo

24 August 2016 13:02

Japan, which will host the 2020 Olympics and Paralympics, will mint two kinds of 1,000-yen ($10) coins to commemorate the handover of the hosting of the Games from Rio de Janeiro to Tokyo, the government said Wednesday.

Both coins depict cherry blossoms and ipe amarelo, flowers recognized as symbols of Japan and Brazil on the obverse side and the emblem of the 2020 Tokyo Olympics on the reverse side.

Both sides of the coins will be printed in color.

The silver coins will be sold for 9,500 yen each, reflecting manufacturing costs, the Finance Ministry said. The ministry will issue 50,000 coins of each type and orders are scheduled to begin around next month, with shipping expected to start around December this year.

"We want to contribute to building momentum for hosting the 2020 Tokyo Games," a ministry official said, adding the ministry plans to mint the coins several times toward the opening of the 2020 Games.

Japan issued commemorative coins to mark the 1964 Tokyo Summer Games, the 1972 Sapporo Winter Games and the 1998 Nagano Winter Games.

Source: Kyodo News
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.

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Japan: Commemorative Coins Planned for 2020 Tokyo Summer Olympics
« Reply #3 on: August 24, 2016, 05:38:38 PM »
It would rather be a shame if Japan doesn't issue circulating commemorative coins on this big occasion. ¥9500 (~ USD 95) for a ¥1000 coin is ridiculous! (But I like the design :))

Aditya
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Offline Verify-12

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Re: Japan: Commemorative Coins Planned for 2020 Tokyo Summer Olympics
« Reply #4 on: September 05, 2016, 08:27:34 PM »
Thanks for the update, Aditya!

Yes, I wonder if the Japan Mint will release some commemorative varieties into circulation.  Not so sure, though.   Are the provincial commems in common circulation?   If not, then the 2020 olympics probably won't either. They probably won't circulate anyway.  In any case, I wouldn't bother getting one:  $95 is a bit steep, but common retail price for silver commemorative coins of that size in South Korea. 

I really am not into olympics commemoratives from any country, since like most things "olympics," they look attractive initially, but you soon seem to lose interest in them.  Olympics and other international sporting competitions always seem to result in commemorative coin "emission diarrhea":  They make way too many.

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Japan: Commemorative Coins Planned for 2020 Tokyo Summer Olympics
« Reply #5 on: September 06, 2016, 05:55:58 AM »
Yes, I wonder if the Japan Mint will release some commemorative varieties into circulation.  Not so sure, though.   Are the provincial commems in common circulation?

The ¥500 provincial coins don't circulate much and they are not popular among common people either as they are not accepted by vending machines. Very popular among collectors though. ;)

Aditya
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.