Discussion in 'World Coins' started by mlov43, Dec 4, 2023.
This article is short and has some updated pricing on these things ↓
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OI knew the turtle boat 5w coins were popular. I didn't realize any of the others had become popular.
Few collectors have any idea ho tough most late date coins have become. Despite huge mintages the attrition rates have been staggering because they've been so unloved.
I wouldn't be surprised if 95% of most mintages from the 1960's have been utterly destroyed and most of the rest are severely degraded. Even US mintages of coins from the '60's are approaching a 70% attrition.
Yes, high-grades are the most worth your time and money, but now even red brown examples of the 1960s Five-Won and 10-Won are selling in the "tens of dollars" and more.
I see people selling circulated examples for a few bucks. They will sell, but is it worth your time to try and move $2 to $8 coins (with the eBay vig and shipping costs)? If looking for circulated examples, the 1966 dates WILL sell much better. Also the 1969 10-Won will sell quite well if in higher circulated condition. Circulated 1970 10-Won coins seem to be numerous and don't seem to do well.
And nobody selling coins outside of Korea addresses the varieties or strike characteristics in their listings, e.g.,
The 1969 Five-Won Wide Date Spacing and Closely Spaced Date (recognized by NGC),
The two 1973 10-Won date varieties,
The 1966 One-Won obverse clashed dies (look at them, and you might find one! They're common).
Those 1966 fully-struck 10-Won coins without blobby pagoda eaves.
A $2 or $8 coin is worth my time if I get it for 15 cents, so I'll keep an eye out for them. Honestly I usually go right past the Korean coins unless they're the really old ones. One time recently the junk bin was full of them but they were modern (1990s or later) so probably no value there.
In that case, it's all about the DATES on the coins. Go for keys and semi-keys. Others, like for example a circulated 1978 10-Won coin in a junk bin isn't worth your time, probably. 1990s and later (except for maybe a 1998 100-Won or 1987 500-Won, which you probably won't find anyway) might not be worth it. Check sold listings to see if any of those 1990s and 2000s are viable for re-sale. If building a collection, well, pick up anything that's acceptable to your collecting standards. Turning a profit on them is another story, of course.
People have told me that 500-Won coins prior to 2000 are somewhat profitable, but usually in higher grades.
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