The Finance Ministry is offering commemorative coins bearing iconic images of endurance from the Great East Japan Earthquake to encourage holders of government bonds to hang on to their investments for the long haul.
The Finance Ministry is offering commemorative coins bearing iconic images of endurance from the Great East Japan Earthquake to encourage holders of government bonds to hang on to their investments for the long haul.
The coins are to be given to holders of 10-year reconstruction bonds, which will be offered from March 5. They are meant to provide incentive and to help make up for the bonds’ low annual yields of 0.05 percent over the first three years.
For every 1 million yen ($12,415) worth of bonds holders will receive, upon retaining their investments for three years, a silver 1,000 yen coin. The coins will be adorned with an image of the No. 58 Daishin Maru fishing boat owned by Kaneo Miura, a 61-year-old fisherman who miraculously survived the March 11 tsunami that hit the port of Kesennuma in Miyagi Prefecture.
Miura attempted to ride out the tsunami by taking his boat out to sea. However, the boat capsized and he narrowly escaped death by climbing onto a bridge. The No. 58 Daishin Maru is a replacement for his lost boat.
"I didn't think I would be selected (to be on the coin),” said Miura, who has vowed to return to the seas to fish sharks. “I feel a great responsibility."
The multicolored face of the coin also features a stalk of rice, a symbol of agricultural recovery.
For every 10 million yen in bonds, holders will receive a gold 10,000 yen coin featuring a map of the eastern part of Japan affected by the quake as well as some doves.
Both coins will also feature an image of the lone pine tree that survived the tsunami in a coastal pine grove in Rikuzentakata, Iwate Prefecture. The tree has since been severely damaged by salt water, although it continues to stand as a symbol of hope for many.
The coins will be issued in fiscal 2015.