Korea’s first modern machine-struck coin pattern in auction
- Published: Aug 3, 2014, 5 PM
The following post is pulled from Coin World’s International page in the Aug. 18 issue.
Two coin shows held in Hong Kong each year bring thousands of collectors together, and related auctions consistently feature rare and historic Chinese and other Asian coins.
Stack’s Bowers and Ponterio’s Aug. 18 and 19 auction in Hong Kong precedes the Aug. 22 to 24 Hong Kong International Coin Convention.
Several lots showcased here reflect just some of the diversity and scope of items in the auction.
A digital catalog may be viewed at the firm's website and a print version may be ordered from the firm at 800-458-4646.
Korea’s first modern machine-struck coin pattern
As increasing trade brought more Europeans to Korea, the need for a coinage system familiar and acceptable to international trading partners became clear.
In the 1880s, the predominant coins in use were the square-holed copper coins, which, though a “perfectly acceptable form of payment for local transactions,” were not widely accepted by foreigners.
Eventually, the Osaka Mint in Japan was contracted to help modernize the Chonwankuk Government Mint and Korea’s coinage.
A series of patterns struck on modern machinery were created in 1886, including a white metal pattern for the circulating silver 1-warn coin.
An example of this pattern is offered in the auction. Graded Mint State 64 by Numismatic Guaranty Corp., it is tied with one other for the finest known, according to the auction firm.
The pattern has an estimate of $15,000 to $20,000 in U.S. funds.
US Coins Aug 14, 2022, 2 PM
US Coins Aug 14, 2022, 1 PM
Paper Money Aug 14, 2022, 12 PM
World Coins Aug 13, 2022, 3 PM