This is a 1942 Malaysia pattern coin minted by Osaka Mint in Japan after the occupation of Malaya. It is believed that these aluminum pattern coins were meant for the use in Malaya and Singapore, but for unknown reasons, were never circulated.
There are two of these 20 cent coins were put up for auction in the Spink-Taisei Coin Auction No.1/1986 Lot No.138. These two coins were purchased by a collector from Japan, at a bid price of US$4,400 plus 10% buyer’s premium (RM 12,200 approximately).
Beside been rare, there is some mystery about this coin. Like the term "Malaysia" was never exist until 1957.
Source: Link
1986, Mr. Lim Kheng Chye, a prominent Numismatist in Singapore have a postcard in his collection which showed the old Railway Station, which existed in Tank Road, Singapore. This old postcard is clearly postmarked with the date “ 5 Dec 1910 “. In faded ink, it is handwritten, “This is the station where people start for Malaysia”
Instead of solving the mystery, it actually makes it more mysterious.
While some mystery may never be solved, but I am sure the coin could not be issued because the Japanese need every precious metal for the war effort. Plus the Japanese army lose the war and did not manage to last long in Malaya so the coin was never issued for local use.
If you want to see these 2 pieces, go to Sasana Kijang numismatic gallery.
Interesting👍