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South Korean Coins
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Obverse of 1988 South Korean 10000 Seoul Olympics Gymnastics Silver Coin
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Countries
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Reverse of 1987 South Korea 10000 Seoul Olympics Volley Ball Silver Coin |
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A Brief History of South Korea
The name of the South Korean Currency, the ‘Won’, shares the same etymological origins as the Chinese ‘Yuan’ and the Japanese ‘Yen’, the origin of which means ‘round object’ in Mandarin Chinese.
Korea was first introduced to coinage by the Chinese Song Dynasty, and early Korean coins were based on the bronze Chinese ‘cash’ coins of the period.
These ‘cash’ type coins were produced and circulated in Korea until the end of the 19th century, when they were replaced by modern milled issues stylistically similar to the Yuan and Yen-based coins in China and Japan respectively, which were themselves based on the US Dollar.
Between 1892 and 1902, the currency of Korea was the Yang, which was subdivided into 100 fun. In 1902, the Yang was replaced by the Won, which was subdivided into 100 chon. This early Won lasted until 1910, when Korea fell under Japanese colonial rule. During Japanese Occupation, Korea used a Japanese style currency known as the Korean Yen, subdivided into 100 sen (Cents).
Following World War II, the Korean Yen was replaced by the new Won at par, both in the North and in the South. The South Korean Won was divided into 100 Jeon. Inflation, due in part to the Korean War, took its toll, and by 1953, the new Won was replaced by the Hwan at 1 Hwan per 100 Won. Inflation once again took its toll, and the Hwan was replaced by another Won, this time at 1 Won per 10 Hwan.
Inflation means that the subdivision of the Won has been rendered defunct. The lowest denomination coin typically in circulation is the copper-plated aluminium 10 Won. Coins of 50, 100 and 500 Won are also struck in cupronickel. Higher denominations of South Korean Currency (up to 50,000 Won) are issued in banknote form.
For Sale and Wanted
If you are interested in coins from South Korea please see our product index:-
South Korean Coins
Gold Coins
We also have gold coins from South Korea on our taxfreegold website:-
South Korean Gold Coins
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...at the Lowest Possible Price
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