How it works

Three steps, no codes

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1. 1Sign into your K&S account — you earn automatically on every order.
2. 2Shopearn 5 Koban per A$1 — and up to 8 per A$1 on full-price items as you climb the Steel Ladder (excl. GST & shipping).
3. 3Tap the toggle100 Koban = A$1 off, applied right in your cart. Minimum 100 Koban.

The story

Koban — Edo-period gold

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小判 — In Edo-period Japan, the koban was the gold coin of the realm: oval, hand-struck, and carried by samurai and merchants alike. At Knives & Stones, Koban are how we say thank you — every dollar you spend on knives, stones and tools earns gold you can spend on your next piece.

Koban from a purchase become available 30 days after your order (our returns window). You can see your available and pending Koban any time — the gold chip in the menu is yours.

Koban discounts apply to product prices only — shipping is always charged separately.

Tiers

The Steel Ladder

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Your tier follows the steel of your blade — named for the steels a Japanese smith reaches for as the work gets more serious. Tiers are based on your last 12 months of spending (excl. GST & shipping), so your status reflects the collector you are now. A large banked Koban balance also holds you one tier below its level — loyalty is never wasted.

The names are the steels themselves. Kigami 黄紙 — yellow-paper steel, the honest workhorse of Japanese kitchens. Shirogami 白紙 — white-paper steel, prized for its purity and razor edge. Aogami 青紙 — blue-paper steel, the connoisseur’s alloy. And Tamahagane 玉鋼 — the jewel steel, smelted in the tatara for Japanese swords, rarest of all. The further you climb, the finer the steel.

Climbing also makes your steel earn faster: Shirogami earns 6, Aogami 7 and Tamahagane 8 Koban per A$1 on full-price items. Discounted items — marked down, bought with a code, or bought in a sale — always earn the standard 5 for everyone.

A note on special/rare drops: a drop is a release we expect to be highly sought after with limited stock — think a new Mazaki or Tetsujin batch, a rare line, a one-off piece. Regular restocking of everyday items isn't a drop and goes live for everyone at the same time. Whether a release counts as a special/rare drop is at K&S's discretion, and our call is final. Early access is limited to one early-access knife per order per month.

Reach a tier and it’s yours for a full year from the day you earn it. To renew at your anniversary, spend at least 40% of the tier’s qualification during the year — otherwise you’ll step down one rung (your Koban stay untouched either way). Early-access drop knives sit outside the ladder: they earn 5 Koban per A$1 whatever your tier, but they don’t count toward reaching a tier or renewing one. Buy the same knife once it’s open to everyone and it counts like any other purchase.

Paying with Koban

How much of an order Koban can cover

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Koban settle part of the bill; real money settles the rest. The share of any order your Koban can cover grows with your tier:

This is a ceiling, not a haircut. If your balance is smaller than the ceiling, you can spend every Koban you own in one go. If it’s larger, the cart applies as much as your tier allows and the rest stays safely in your balance for your next piece — loyalty is never wasted.

Example: A$150 in Koban against a A$500 knife is only 30% of the order, so a Shirogami member (50% ceiling) spends it all. Holding A$300 of Koban instead? The cart applies A$250 now and banks the remaining A$50.

Two small conditions: the tier ceilings apply once your email subscription has been active for 30 days — before that, Koban cover up to 25% of an order. And if your cart says “spend at least A$X to use them”, that’s this same rule seen from the other side — add a little more to the cart and your Koban switch on.

The fine print

Good to know

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• Koban expire after 12 months of inactivity — any purchase or redemption keeps your whole balance alive.
• Koban discounts apply to product prices only; shipping is always charged separately.
• Koban can cover up to a share of each order set by your tier (see the table above), and up to 25% until your email subscription has been active for 30 days. Anything above the ceiling simply stays in your balance.
• Refunds may be reduced by the value of Koban already redeemed from the returned purchase.
• Koban redemptions are one-off: an unused redemption code from a cancelled checkout returns to your balance automatically.
• Koban have no cash value and can’t be transferred between accounts.
• Terms, tier qualifications and benefits are subject to change without notice.

Terms & Conditions

Effective Date: 22 / July / 2026

1. Overview

The Koban Rewards Program (“the Program”) is operated by Yuchen Trading Pty Ltd trading as Knives and Stones (“K&S”, “we”, “our”, “us”). By participating in the Program you agree to these terms. The Program replaces the previous K&S Rewards Program; all prior points balances were carried over in full.

2. Earning Koban

Members earn 5 Koban per A$1 spent on products, calculated on the merchandise value excluding GST (and any other taxes) and excluding shipping. Koban from a purchase become available 30 days after the order date. Koban are not earned on shipping, taxes, or gift cards. Shirogami, Aogami and Tamahagane members earn 6, 7 and 8 Koban per A$1 respectively on full-price items; an item with any discount applied (markdown, discount code, or sale price) earns the base 5. Early access windows of 24, 48 and 72 hours to special/rare drops and sales apply to Shirogami, Aogami and Tamahagane respectively.

3. Redeeming Koban

100 Koban = A$1 off. Minimum redemption 100 Koban. Redemption is applied in the cart via the Koban toggle and discounts product prices only — shipping is always charged separately. A redemption released by a cancelled or expired checkout returns to your balance automatically. Redemptions are one-off and cannot be reused. Koban may cover up to a percentage of an order’s product subtotal set by your tier — Kigami 40%, Shirogami 50%, Aogami 75%, Tamahagane 100% — and up to 25% where marketing-email consent has been active for fewer than 30 days; the redemption code carries a matching minimum cart value so the ceiling holds. Any balance above the applicable ceiling simply remains in your account.

A “special/rare drop” is a release K&S designates as limited-availability; regular restocks are excluded, and K&S’s designation is final. Early-access purchases are limited to one early-access knife per order per calendar month.

4. Tiers — the Steel Ladder

Tiers (Kigami, Shirogami, Aogami, Tamahagane) are based on your trailing 12 months of merchandise spending (excluding GST and shipping): A$1,000 / A$3,000 / A$5,000. A large banked Koban balance may also hold you one tier below the level that balance alone would reach. A tier is held for one year from the date it is obtained; renewal at your anniversary requires spending at least 40% of the tier’s qualification during that year, otherwise the tier steps down one rung. Tier benefits are as published on this page.

5. Expiry

Koban expire after 12 months of account inactivity. Any purchase or redemption resets the clock for your entire balance.

6. Refunds

Refunds reverse the Koban earned on the returned merchandise. Where Koban earned from a purchase have already been redeemed, the refund amount may be reduced by the value of those redeemed Koban.

7. General

Koban have no cash value, are not transferable between accounts, and cannot be exchanged for cash. We may suspend accounts involved in abuse of the Program. Terms, tier qualifications and benefits are subject to change without notice. For questions contact us via the contact page.