Coins from North Korea 2002 FAO Food Security Won, Chon

 Coins from North Korea 2002 FAO Food Security Won, Chon



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Coins and numismatics from North Korea (officially the Democratic People’s Republic of Korea, DPRK) offer a unique and often politically charged area of collecting. Though the country has a relatively small and controlled monetary system, its coinage—particularly its commemorative issues—is surprisingly diverse and of interest to collectors worldwide for both historical and ideological reasons.

🇰🇵 Overview of North Korean Coinage

Circulating Currency

  • Official currency: North Korean Won (₩), subdivided into 100 chon.

  • Modern ISO code: KPW

  • First issued: 1947 (shortly after liberation from Japan and Soviet occupation)

Key Dates in Circulating Coinage:

  • 1947: First coins issued (in chon and won denominations).

  • 1959, 1970s, 1980s: Updated designs with changes in national symbols and denominations.

  • 2002 & 2009: Monetary revaluations and coin reforms.

  • Current denominations: Generally range from 1 won to 50 won in circulation (higher denominations are now often notes).

Most circulating coins are made of base metals (aluminum, copper-nickel, brass) and rarely leave the country, making even common examples scarce outside North Korea.

Commemorative & Collector Coins

While domestic coin use is tightly controlled, North Korea has produced a large number of commemorative coins for foreign collectors and investors. These coins are often minted to extremely high quality standards, sometimes in gold, silver, and platinum, and cover a wide range of topics.

Themes

  • Political Leaders:

    • Kim Il-sung, Kim Jong-il, Kim Jong-un

    • Anniversary celebrations of their birth and rule

  • Historical Events:

    • 50th/60th anniversaries of the Korean War (referred to as the "Fatherland Liberation War")

    • Founding of the Workers' Party

  • International Events:

    • Olympic Games (including events North Korea did not attend)

    • Lunar New Year or Zodiac series

  • Fauna and Flora:

    • Series featuring native wildlife or traditional Korean art

Mints

  • Many commemorative coins were minted outside North Korea (such as in the UK or Eastern Europe) on behalf of the DPRK, especially those in precious metals for export.   

  • Examples of Notable Coins

    1. 1993 Kim Il-sung 80th Birthday Silver Coin

    • Weight: 1 oz silver

    • High-relief portrait of Kim Il-sung

    • Reverse: DPRK state emblem and denomination

    • Issued to mark the Eternal President’s birthday and cement his cult of personality

    2. 2002 FIFA World Cup Coin (Gold and Silver)

    • North Korea did not participate in the tournament but issued coins featuring teams and logos

    • Demonstrates the country’s use of coinage for foreign currency earnings

    3. Wildlife Series

    • Silver and gold coins featuring animals like the Siberian tiger or red-crowned crane

    • Often minted in proof quality with vibrant enamel coloring

    💰 Collecting and Market Value

    • Domestic coins (low-denomination, aluminum) are scarce in the West and can fetch $10–$50 depending on rarity and condition.

    • Commemorative coins can range from $30 for common silver issues to hundreds or thousands of dollars for rare proof gold/platinum pieces.

    • Values are often driven by:

      • Metal content (gold, silver)

      • Political/historical interest

      • Scarcity and mintage (some coins are limited to fewer than 1,000 pieces)

      • The intrigue of collecting from a closed and secretive regime

    ⚠️ Challenges & Considerations

    • Authentication: Counterfeits exist, particularly for coins featuring gold.

    • Access: Very few coins circulate within North Korea; most collectibles are meant for export markets only.

    • Ethics: Some collectors consider whether buying coins indirectly supports the regime; others view it as preserving history.

    📚 Numismatic Interest

    • North Korean coins are increasingly studied for what they reveal about the country’s ideology, propaganda, and economic priorities.

    • They are often collected alongside:

      • Soviet-era coins

      • Chinese and Korean peninsula history

      • Propaganda art and Cold War memorabilia


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