Bank of Korea 2021 Mint Set

Discussion in 'World Coins' started by mlov43, Sep 22, 2021.

  1. mlov43

    mlov43 주화 수집가

    The 2021 Bank of Korea (BOK) Mint Set has been released.

    I finally got one. This one is even MORE hard to find and obtain than the 2020 70th Anniversary of the BOK Coin Set (proof set). This 2021 BOK mint set is already selling in the South Korean numismatic market for 350,000 KRW, right out of the gate! (The Korean Mint sold them at their website for only 10,000 KRW -about $9 bucks).

    The dang thing cost me, in trade with a Korean friend, one Innovation Dollars folder, one State Quarters and Territories folder, One Presidential Dollars folder, and one National Parks quarters folder...INCLUDING the coins to go in 'em (no proofs, and one coin each, not each mint mark, thank God). To be fair, he gave me a bunch of nice extras with the 2021 mint set.

    What happened to make this 2021 set so expensive in the Korean numismatic market so soon?

    Well, someone at the Korean Mint publicly released to Korea's numismatic "insiders" some information that revealed the absence of a large order for coin blanks for the 100-Won coin from their industry source (Poongsan Metals). This meant that the few 100-Won coins in this year's 2021 BOK mint set (60,000 sets total) will make this set a very high-demand item, especially in the context of numismatics EXPLODING in popularity in South Korea nowadays.

    The "insider sources" say that there will only be 100,000 100-Won coins minted in 2021.

    The low mintage is likely due to the gradually-applied "Coinless Society Plan," and because the 100-Won coin will soon be re-designed for reasons I elucidated in an earlier post. 2021 is probably the last year that this particular 100-Won design (dating from 1983) will be issued.
    See:
    https://www.cointalk.com/threads/cancel-culture-the-100-won-coins-image-is-to-be-redone.370200/

    Without further ado, here are pics...
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    Last edited: Sep 22, 2021
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  3. furryfrog02

    furryfrog02 Well-Known Member

    Very nice!
    I really wish I would've bought the mint sets when I lived there and had the chance to get them from the money museum.
     
  4. mlov43

    mlov43 주화 수집가

    Yep. They were actually AVAILABLE from the Money Museum at that time, too.
    Unlike this year and last year...
     
    furryfrog02 likes this.
  5. Jaelus

    Jaelus The Hungarian Antiquarian Supporter

    I always look forward to reading about your latest Korean acquisitions. Though I know little about these coins, your obvious passion for them makes reading about them a joy. Great post.
     
    TheGame, ddddd and mlov43 like this.
  6. furryfrog02

    furryfrog02 Well-Known Member

    Oh I know...I saw them and thought “I’ll get them next time...” then when I came back they were sold out. Super bummed.
     
  7. mlov43

    mlov43 주화 수집가

    I have the same opinion about your postings on Hungarian coins here at CT.

    Keep 'em coming...
     
    Jaelus likes this.
  8. mlov43

    mlov43 주화 수집가

    Yeah, when you see them at that little shop in the Museum, you gotta grab 'em! This was especially the case after about 2014...
     
    furryfrog02 likes this.
  9. fretboard

    fretboard Defender of Old Coinage!

    Great looking mint set, glad to hear you were able to get one! thumbsup.gif I've always liked the 100 Won coin, good to see it still looks the same as the 1970's version even though it probably has a number of differences. :D
     
  10. Amarques

    Amarques New Member

    I have a coin with a hole, but I'm not sure is from Korea
     
  11. mlov43

    mlov43 주화 수집가

    If it looks like a modern coin, and has a round hole, it's probably Japanese (50-Yen, Five-Yen) or some other country, like Denmark.
     
  12. mlov43

    mlov43 주화 수집가

    The Koreans revamped their entire currency system with a redesign in 1982-1983. So, yes, the 1983 and later100-Won will look different from the 1970s version.
     
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