This is an interesting coin and is definitely genuine. Unfortunately it has been damaged as there are chopmarks.
This is a 1882 1 yen coin. While many will not pick it up straight away there is a scarcer version of this which has slightly different variation. If this was the older type, I reckon it would been worth at least 5 times despite the condition. This however is the newer version. I believe 30 dollars or around there us a fair value.
My partial coin collection
http://www.omnicoin.com/collection/gxseriesMy numismatics articles and collection:
http://www.gxseries.com/numis/numis_index.htmRegularly updated at least once a month.