Just in case some of you wanted to see what an online auction from Asia looks like: http://www.hwadong.com/auction/offline/offlineAuctionList.jsp The auction is actually on FRIDAY, if you live in North America. This site is in Korean, but under the English words, "Auction Catagory," just click on the links to explore some of the items up for bid and their starting bid prices (1,000 Korean Won equals about one U.S. Dollar). It's a mix of Korean and non-Korean coins, medals, and banknotes.
...Just a little more information on the above auction: Poongsan Hwadong will hold this auction, its 32nd Auction, this Saturday, March 18, 2017 at 10:30am Korean time (or Friday, March 17th at 8:30pm CST in North America). http://www.hwadong.com/aucti…/offline/offlineAuctionList.jsp Here are some of the South Korean biggies up for auction:
I'm always so pleased to see high mintage regular issues bringing such high prices. I've always known many of these were scarce but everyone always told me no one would care.
No one cared because they didn't know how North America-based Koreans were snapping these coins up at basement bargain prices and selling them in Korea at prices around twice to six times what they picked them for. Now that many (if not MOST) of the best examples of these coins have migrated from North America to Asia, there are fewer and fewer decent examples like these around here in North America. Their prices have been shifting upwards everywhere online, and there are much fewer nice examples like these to be found online. If only I had the budget back in 1998~2003... My goodness, I saw so many of these just going for a few bucks back then. I am certain that almost ALL of these very high-grade South Korean coins being sold for such high prices at these Hwadong auctions in South Korea were originally collected by Americans and some Europeans years ago, and the coins have been residing in collections and dealer networks outside of Korea for decades. It seems these copper-based coins do better outside of South Korea where they were not exposed to that country's humid summer weather. The harsh cleaning of coins was also seemingly quite common in South Korea years ago, too, which sent many Koreans to seek better examples outside of the country, especially after the popularity of Third Party-graded coins started to take hold in South Korea.
The same thing appears to be going on with moderns from all over the world. Krause lists them at junk prices but they go for big bucks in the home country. I was most active in the '80's and '90's and always snapped up the South Korean coins when I saw them. They were usually n50c or a dollar but I rarely saw them. It wasn't until you started posting about these and your collections that I saw how scarce they are.
Thanks for the information butt no way !!!Lol I can't justify it.. doesn't interest me .. Sent from my C6740N using Tapatalk
Can't say I blame you. The incredible prices you see there are the effect of that closed-circuit of a numismatic market in Korea that inflates prices. I'm still holding out on finding high-grade S. Korean coins here in the central states. There still are some that you can find every once in a while...
I collect some Korean coins! Mostly turtle ships... Anyway, I'm always on the look-out for these below, and they are most definitely highly sought after here in the US. And, the last two below are among the most difficult to find of all the modern world coins I've ever hunted for. They're probably being held in private hands, and probably for quite some time: + 1905-1908 Korea 1/2 Won silver Dragon (Uncommon/Rare in high grade) + 2000-2004 South Korea Turtle Ship reverse proof (Rarer) + 1982 South Korea 5 Won Turtle Ship proof (Mythological Rarity)
Yep. That 1982 proof set has a mintage of 2,000 pieces for each of the six coins. Mythological Rarity indeed... I have seen these up for bid/sale on eBay at least three times in the past 10 years, as well as in a Hwadong auction catalog:
