Japan's first commemorative coin was the Tokyo Olympics commemorative coin issued in 1964.

The 1,000 yen silver coin and the 100 yen silver coin were issued to commemorate the Tokyo 1964 Olympic Games.
The coins were exchanged in the form of currency exchange at the counter of financial institutions.
On the day of the silver coin exchange (October 2, 1964), there was such a panic that police were mobilized, with huge lines of people waiting in line and fights breaking out.
This triggered a boom in commemorative coin collecting in Japan.