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Korean Coins

Korean money goes back many centuries, but it was not until 996 A.D. that coins were actually minted in the country. Various rules produced its own coins throughout the country's history. During all this time, Korean coins continued to use Chinese script. It wasn't until the 20th century that coins displayed Korean characters. Modern Korean coins began to be minted in 1959, after the end of the Japanese occupation and the cease-fire of the Korean War. Later, in the 1960s, the country moved from the hwan system to the won. Since then, those coins have remained in circulation.

Commemorative

South Korean commemorative coins were minted and sold between 1970 and 1974. Not meant for sale within the country, it was a six-coin set in either gold or silver and sold to banks around the world. The first commemorative coins meant for sale in South Korea were minted for the 30th anniversary of liberation from Japan in 1975. They were not necessarily popular, however, and some were even put into regular circulation by people who used them to pay for goods and services.

Silver

Modern South Korean coins for general circulation are not produced in silver, though in previous centuries, silver coins were produced. The daedong is an example of a silver Korean coin, produced only for 11 years from 1882 to 1893. Modern commemorative coins and proof coins are minted in silver. Coins have been produced in silver for various events, including the above mentioned liberation anniversary as well as the Seoul Olympics in 1988.

Nickel

Modern 50, 100 and 500 won nickel coins are in current circulation in South Korea. These are the most common won coins. If you are looking for older coins, nickel Korean coins were first struck in 1892. The 1/4 yang coins are not predominantly nickel, however, but rather, an alloy that contains no more than 25 per cent nickel.

Copper

Copper Korean coins can be found in modern forms as well as in older coinage. Modern coins currently in circulation are valued at 10 won and were struck between 1966 and the present day. Copper coins were first minted in 1633. These were called sang pyong tong bo and produced until the late 19th century. After those coins, the mun and then fun coins were produced.

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