First Coins issued by Bank of Korea

As the economy started to recover after the Korean War with prices stabilizing, Bank of Korea issued coins to cut currency manufacturing costs and make small-value transactions easier.

For the first time since the founding of the Bank, it issued hwan-denominated coins in three denominations (100-hwan, 50-hwan, and 10-hwan) in October 1959.

These coins were produced at the Philadelphia Mint in the United States due to the lack of coin-making technologies.

A picture of Korean President Rhee Syng-man was chosen as the design theme for the 100-hwan coins.

There was the famous turtle warship, Geobukson, on the 50-hwan coins and a Korean hibiscus, Mugunghwa, on the 10-hwan coins. ...