The Meiji Era One Yen silver coin featuring a dragon design from 1892 is a fascinating piece of Japanese numismatic history, representing both an important economic era and the cultural significance of dragons in Japanese society.

Altered examples, such as this one with a hole, may attract niche collectors interested in unique artifacts, albeit at a lower collectability than pristine pieces.

Coins of this vintage are becoming increasingly sought after as investments, especially those from the Meiji period, which laid the foundations for modern Japan.

Given the current bid of ¥9,500, this piece reflects typical market behavior for altered historical items, providing a glimpse into Japan's rich heritage at a relatively accessible entry price.