Featured Breaking News: Bank of Korea 2020 Proof Sets

Is the total mintage of each of these proof coins only 70K? Or is that only the number of proof sets? I'm primarily interested in the 5 Won turtle ship, but obviously getting the entire proof set is good, too. However, since the sets are all sold out, maybe there's a chance that more proof coins were struck and sold individually, especially given the demand.

 

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NO. Long gone.
Ebay:
https://www.ebay.com/itm/KOREA-2020...537082?hash=item264cb2b3ba:g:dmUAAOSwcpJe6BlG

 

I would imagine that it means only 70K coins also: These proof coins only appeared in these sets. I've seen individual coins from this set sold at ebay. Check it out...

 

https://www.ebay.com/itm/SOUTH-KORE...613860?hash=item264cb3dfa4:g:tMMAAOSwhkdf0rkm

 

Does anyone know if they will release a proof set for 2021?

 

I got my 2020. After what I went through to finally get it, they can offer me the 2021 for free and I wouldn't take it. This was more a familial issue than a BOK issue.

 

Haven't heard anything. The last proof and mint sets came out in June 2020 and November 2020. Won't hear anything about 2021 until at least May, if the past 5 years is any indication.

 

You talking about the proof set? I remember you got somebody in Korea to get it for you.

Well, that thing you've waited for so long is now going for 370,000 KRW(!!!) in the Korean market (in February 2021).

Here's an NGC 'multiholder' going for 720,000 KRW... and this isn't even the proof set.

 

Are you saying this proof set is going for 370,000 KRW?

 

Yessir.

 

Hmmmmm, makes me think more about its future

 

If you can sell it IN KOREA.

However, eBay may not be a bad place, either. Not sure this is the price you should list it at(!), but here's an example:

 

Wow I thought that NGC no longer offered those multiholder slabs anymore!

I'm a bit surprised by the PF-66 grade though, assuming that the coins were in the OGP when NGC received it and/or the coins weren't mishandled out of the OGP.

 

NGC has been doing multiholders for years now.

It's PCGS that doesn't do them anymore (right?)
The reason you don't see/hear of multiholders is because only DEALERS can get their coins graded this way. Another "insider" thing reserved for certain cliques within the hobby (meant to advance dealers' financial interests). Seems like many things in (American) numismatics are structured this way.

 

Ugh wish I bought it! Still thought the price is over the top but 500+ is pretty insane!

 

Well, he is selling it for about $200 USD OVER the current Korean market price.

Yeah, I could have tried to get people here at CT who are interested one of these sets, but my contact in Korea had a hard enough time just finding one for me.

For this proof set, you would have definitely needed a contact in Korea to help you get it when they were first issued. Unless you wanted to buy at eBay. I think I saw them at eBay after they first came out with a price of $230 USD(?).

Yeah five bills is nuts. But so is the market for coins right now in Korea.

 

Okay... Here is some news from Korea about the 2021 Mint Set:

Here is the list of medals and coin sets that the KOMSCO Shopping Mall has planned for 2021 (attached at bottom, below). Nowhere to be seen on this list is the 2021 mint set! This is "concerning," since last year at this time, this same list for 2020 displayed both the 2020 Proof coin set (officially called the "70th Anniversary of the Bank of Korea Coin Set"), and the regular BOK Mint Set.

One Korean collector I know has a 3-part theory on why the Bank of Korea may not be issuing a mint set this year:

1) The 100-Won coin is to be re-designed (due to the current design's artist being posthumously blacklisted... long story... search here at CT for "Jang Woo-seong" for a rather long thread as to what is going on with that).

2) The "Coinless Society Plan" (similar to Sweden) is supposed to have been implemented by 2020 in Korea. Well, it's 2021, so it's time to get with the program, since it's STILL government policy.

3) ...and the coinless society push, along with increasing electronic payments, are resulting in overall lower mintages for circulation coins. So why make a coin set?

At the bottom of the list it says: ※ The above schedule is subject to change depending on conditions at the Mint.

So, is this a "for sure" thing? Probably. But not 100% sure yet.... Only time will tell.


You can find this list here:
https://www.koreamint.com/board/con...1872&board_group=1&params=skey=subject^page=0

 

I think NGC (and PCGS) do the multi-holders for certain dealer's bulk grading submissions. And sometimes special sets.

NGC's census reports a fair # of them graded, 183 at MS66 and 174 higher.

 

How do you search for multiholders at NGC? I've tried that, and it doesn't work at their verification tool.