100 Won Wonders: The Story Behind South Korea's Beloved Coin

South Korea is a country with rich traditions and rapid technological progress. One of the symbols of the fusion of old and new is the 100 won coin. This South Korean coin is familiar to everyone in the country and is not just a unit of currency, but an important cultural symbol. 

How can such a small object hold so many meanings and stories? At first glance, the South Korean 100 won coin is simple and modest, but if you identify these coins, you will see that their design and nominative hides an amazing history, worthy of attention not only from numismatists, but also all interested in the culture and history of Korea.

A New Breath for the Economy: Reasons the Coin Appeared

The 100 won coin appeared in 1970 as a symbol of a new stage of economic development in South Korea. At that time the government decided to replace small denomination paper banknotes with more convenient and durable coins to make an important step in strengthening the country's monetary system.

Why was a new coin needed?

1. Growth of the national economy. By the mid-60s, South Korea began to transform from an agrarian country to an industrialized nation.

2. The desire for independence. The new coin was meant to represent an independent economy and reinforce national identity.

3. Inflation and reformation. Old coins and banknotes were losing their purchasing power and confidence in money had to be strengthened.

These Korea coins were firstly (1970-1982) made of copper-nickel alloy (Cu-Ni, 75% copper and 25% nickel). From 1983, the material was changed to a lighter nickel-copper alloy (65 % copper and 35 % nickel) to facilitate production and reduce production costs.

Though the 100 won South Korean coin was one of the most common monetary units at the time of its introduction, its role in the daily life of Koreans is undeniable.

Surprising Observation: money-conscious Koreans often refer to the 100 won as the “butterfly” for its ease of use and quick handling - it can be found everywhere: in cash registers, vending machines, and wallets.

Related article: Commemorative Coin Programs. 

Coin Design: Details You Won't Notice at First Sight

The 100 won coin seems plain, but its design is bursting with symbolism. The obverse of the coin depicts a portrait of Yi Sun-sin in full military attire. There is nothing in the background, symbolizing his unwavering resolution. The portrait is neatly inscribed in a circle, which gives it completeness.

The reverse of the coin is as laconic as the obverse, a feature that is typical of Korean culture. On the reverse side you will see the denomination ‘100’, the year of issue and the inscription ‘한국은행’ (Bank of Korea).

Why Yi Sun-sin?

If you look closely at the 100 won, you will notice a portrait of a man in traditional attire on the obverse of the coin. This man is the great Korean military leader Yi Sun-sin, a hero of the nation. Why exactly is he adorning the 100 won? Yi Sun-sin  is known as a strategist, brilliantly defended the country against Japanese invasions in the 17th century by developing unique armored ships - kobukseongs, or “turtle ships”. He succeeded in defeating the enemy even when they were numerically superior.

The symbolism of Yi Sun-sin's reflection on the coin goes deeper than just honoring the hero. He represents resilience, wisdom and determination, i.e. qualities that Koreans highly appreciate even today.

Remarkable that unlike many coins that regularly change the design, 100 won remains almost unchanged for several decades, indicating its strong connection to South Korea's national identity.

South Korean Won 100 Coin: Main Characteristics

Every 100 won coin looks the same to the average person, but collectors and experts know that a lot depends on the parameters (primarily the value of the coin). In the table below you will find its characteristics:

The 100 won coin is still produced, hotly loved and widely used in South Korea as it plays a key role in everyday money transactions.

It is the 100 won coin that is often used as the benchmark for beverage and ticket vending machines. This has made it highly sought after and regardless of the plenty of new digital means of payment, the coin remains relevant in the daily lives of Koreans. In addition, there is a belief in Korea that a 100 won coin (when carried in a wallet) brings good luck and helps to avoid unnecessary spending.

100 South Korean Won Coin - Coin  Collecting  

Despite the fact that the 100 won is a fairly common coin available to any novice collector, there are a few particularly valuable specimens that attract the interest of numismatists and collectors and are pieces of investments in coin collecting today. What are some examples popular and how much is a South Korean 100 won coin worth?

• 1970 100 won: Issued in the first year of minting, these original design coins are considered rare (especially if they are in excellent condition or have rare minting errors) and can be worth $50 to $200 depending on condition.

• 1988 Olympic 100 Won: These coins were issued in honor of the Seoul Olympic Games and are decorated with special symbols related to the Olympic movement. Jubilee or commemorative issues of 100 won coins are extremely rare. The main mintage is for mass use rather than for collecting, so these coins are worth more than the usual one.

Note: For numismatists and collectors interested in South Korean coins (such as 100 won) or other coins, the Coin ID Scanner application is an essential aid. Due to the app you will be able to determine if your coin is a rare specimen, assess its condition and find out its current market value. Just take a picture of the coin and the app will instantly offer you all the information you need, helping to save time and avoid errors in identification and valuation.

Bridge Between Past and Future

The 100 won is not just a coin, it is a symbol of South Korea's heroism, resilience and modernisation. The coin seamlessly connects the past to the present to open doors to the future. And now this coin continues to amaze and inspire ordinary people, numismatists and collectors worldwide. So add this coin to your collection to study a reflection of the Korean national spirit.

Sources:

1. https://en.wikipedia.org/wiki/South_Korean_won

2. https://en.numista.com/catalogue/pieces1052.html