Korea Joseon era Silver Dragon Dollar Year 502 (1893 AD) 1 Whan Yi Hyong

Korea Joseon era Silver Dragon Dollar Year 502 (1893 AD) 1 Whan Yi Hyong

Korea Joseon era Silver Dragon Dollar
Year 502 (1893 AD)
1 Whan, One Dollar

26.78 grams; Silver 900; size: 38.1 mm

Korea Joseon era Year 502 (1893 AD)

Obverse: Two dragons

Lettering: ?16?1 WHAN ?00?br>
Reverse: Denomination (in Korean hanja text)

surrounded by wreath and plum flower (Imperial Seal of Korea)


1 Whan - Yi Hyong

KM# 1115

Korean Fun, Yang and Whan Coins (1892-1902)

The currency of Korea began to be based on the yang (兩) beginning in the year 1892 with the implementation of the silver standard currency reform. The yang was further divided into fun (分) which was equal to 1/100th of a yang. The coin denominations and their compositions were 1 fun (brass), 5 fun(copper), ?nbsp;yang (initially cupronickel and later copper around silver), 1 yang (80% silver) and 5 yang (90% silver).

Some denominations in this series continued to be minted until 1902. All the coins were produced at the mint in Incheon (仁川典局). The dates on the coins discussed above reflected the number of years since the founding (gaeguk 開國) of the Choson (Joseon) or Yi Dynasty in 1392 ("year 1") by General Yi Seong-gye. The Choson Dynasty (including the short-lived Korean Empire (1897-1910)) ended in 1910 when Korea became a colony of Japan.

As a result of the Sino-Japanese War (1894-1895), Korea found itself free of Chinese hegemony. In 1897, the Yi (Choson, Josean) Dynasty ended with King Gojong proclaiming the establishment of the "Empire of Korea". In so doing, King Gojong became Emperor Gwangmu. King Gojong, who became Korea's first emperor, is shown at the left.

Beginning in 1897, the regnal year of the monarch began to be used on coins to denote the year instead of calculating the year since the founding of the Choson Dynasty. Coins minted 1897-1907 are dated from the year Emperor Gwangmu (Kuang Mu, Kwangmu 光武 광무제), formerly King Gojong (Kojong 高宗 고종) of the Choson (Yi) Dynasty, ascended the throne of the "Great Korean Empire" (大 韓帝國 대한제국 1897-1910) with the year 1897 being "year 1" (元年).

Coins minted 1907-1910 are dated from the year Emperor Yunghui (Yung Hi 隆熙 융희제), formerly known as Sunjong (純宗 순종), ascended the throne with 1907 being year 1" (元年). The name of the country was variously displayed on the coins as "Great Korea" (大朝鮮), "Korea" (朝鮮) or "Daehan" (大韓). Coins denominated in fun and yang continued to be minted from 1892-1902.

Silver Dragon Dollar

The first Japanese one yen coin was minted in 1870. Its obverse featured a dragon with a circular inscription around. The reverse had a radiant sun surrounded by a wreath, withchrysanthemum emblem (a symbol of theJapanese Imperial Family) flanked by floral patterns above. Large silver one yen coins were issued between 1870 and 1914, supplemented by small gold one yen coins issued between 1871 and 1880 (plus a special collector's issue from 1892). One yen silver coins minted after Japan adopted the gold standard (gold based currency) in 1897 were not issued for domestic use, but for use in Japanese Taiwan and foreign trade.

During 1870, the Empire of Japan issued the first 1 yen coin. It had a mass of 26.9568 grams and a diameter of 38.5 millimeters, having been the heaviest 1 yen coin ever issued. The coin was composed of .900 fine silver. On its obverse was a sun withbranches, and on its reverse a Japanese dragon is displayed along with the year written in Japanese (年 三 治 明), the value (圓 一), and the words "本 日 大". These coins were only minted during 1870, but the design of the reverse was eventually reused by later silver 1 yen coins.

In 1874, during the circulation of the gold 1 yen coin, the Empire of Japan issued another 1 yen coin, which circulated alongside it in Imperial Japan. This coin had a mass of 26.96 grams and a diameter of 38.6 millimeters, being nearly equal in size to the first 1 yen coin. Also similar to the first coin was the presence of silver, which remained at .900 fineness. On the obverse was the familiar Japanese dragon from the first 1 yen coin, along with the year, the value, the silver content, and the recurring text, "大日本". The reverse displayed the value written in Japanese surrounded by a wreath and the Imperial Seal of Japan. These coins were minted up until 1912 and then again in 1914.


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Korea Joseon era Silver Dragon Dollar Year 502 (1893 AD) 1 Whan Yi Hyong