North Korea coins hold a special fascination for collectors all over the world. There have been several issues over the decades, but the overall number of different coins is small enough to be manageable. Building a complete collection of North Korean coins comes with its own interesting issues and sidetracks. Not only is there the built-in thrill of acquiring something from the infamous hermit country, but the Democratic People’s Republic of Korea has made some numismatic decisions at times that have yielded very collectible and curious pieces.
North Korea Coins: Overview
North Korea issued its first coins in 1959. The country used the same monetary units as South Korea, with 1 won equal to 100 chon. Coins have been issued in both units.
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About “Won” and “Chon” in Korean
It helps to be able to identify some words in the Korean Hangul writing system, which both Korean nations use.
- won – Written as 원 in Korean.
- chon – Written as 전 in Korean. This word is also rendered in English as jeon. Note that many people, including online coin sellers, use chon for North Korea and jeon for South Korea, although this is by no means standard.
Different typefaces, and stylization on coin designs, can make the Korean characters look different than what you see here. Learn to recognize the way the words appear on the coins themselves to make sure.
North Korea Coins: What All Exists
Here is a handy list of what coins North Korea has issued for general circulation over the years. If you’re looking to build a complete set this will tell you where to focus your energies and coin-buying budget.
See also: China rare coins for collectors and other buyers
North Korean “First Won” Coins
The “first won” was the first DPRK currency. It was issued beginning in 1947 and consisted of banknotes only, no coins.
North Korean “Second Won” Coins
All coins in this series were made of aluminum. Asterisks indicate that the coin is available in more than one version under the “Communist/Capitalist stars” scheme (see below). Note that dates are not necessarily the year of minting; designs were reused without changing the dates.
- 1959: 1 chon*, 5 chon, 10 chon*.
- 1970: 1 chon
- 1974: 5 chon*
- 1978: 50 chon*
- 1987: 1 won
- 2005: 5 won, 10 won, 50 won, 100 won
North Korean “Third Won” Coins
Coins were minted in 2002 and 2008 but not released to the public until 2009. Like the Second Won, the coins of the Third Won era are all aluminum. None use the “Stars” system.
- 2002: 10 chon, 50 chon, 1 won
- 2008: 1 chon, 5 chon
More on MegaMinistore: South Korea rare coins for collectors and other buyers
North Korea Coins: Communist/Capitalist “Stars” System
Some early chon coins were issued in three different variants that highlighted the strain (as North Korea saw it) between Communist and Capitalist nations.
- No stars: On coins intended for use within North Korea by its citizens.
- ★ One star: On coins intended for use by visitors from other Communist countries.
- ★★ Two stars: On coins intended for use by visitors from non-Communist countries.
No stars, one star, and two stars on otherwise identical 10-chon coins of North Korea.
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There is often no major difference in the value of these coins, and collecting all the variations is of course a fun way to go. This “Communist stars” system was abandoned on the coins of later years. Note that some North Korean banknotes also used a similar system, marking the difference with colors instead of stars.
North Korea Specimen Coins
More valuable than the different stars coins are North Korea specimen coins. They feature the legend 견본 which is pronounced “gyeonbon” and means “sample” or “specimen”.
North Korea Silver and Gold Proof Coins
North Korea, like most other countries, has regularly courted the international coin collectors’ market. Despite years of famously harsh rhetoric against much of the outside world, the DPRK isn’t shy about selling collectible gold and silver coins to enthusiasts abroad. If this is the type of coin that interests you, check out the online sales listings and see if anyone is offering something up your alley.
Browse 44 current North Korea coins for sale offers here
With a constantly-developing history and controversial existence (to put it mildly), North Korea occupies a strange place in modern coin collectors’ lives. If you would like to get some – or all – of the North Korea coins that have been used over the years, the online marketplace is a great place to look. Prices don’t have to be expensive and there is enough variety to keep you occupied while you build your hoard. Happy hunting!
