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Korea (South) 10 Hwan  1959 to 1961
Korea (South) 10 Hwan 1959 to 1961

Monetary reform came to South Korea in 1962 and old hwan pieces like yours were replaced with modern won issues.

James' coin is not very valuable. It is probably one US dollar or so. The coin pictured is pretty well worn, and would have trouble fetching a dollar from a collector. If your piece is in better condition, and if a collector really needs it to complete his or her set, your coin might sell for two dollars or a little more.

The coin bears a Dangun date, with a calendar starting at the legendary founding of Korea in 2333BC. If you can find a 10 hwan coin with a 4292 date (equivalent to 1959), it is more valuable. Most 4292 10 hwans are heavily circulated. An uncircluated example catalogs for $50 and up if dated 4292. There are many more 4294 (1961) coins in uncirculated condition and they are not as valuable.

Coin: 580 , Genre: The Sinosphere
Requested by: james, Fri, 05-Jun-2009 23:30:55 GMT
Answered by: Paul, Thu, 10-Oct-2013 00:14:32 GMT
Appraisal reviewed by CoinQuest, appraisal ok, Fri, 17-Oct-2014 22:25:10 GMT
Requester description: 1959 relatively good condition. definately circulated though
Tags: korea south 10 hwan korean rose republic flower fleur leaves leaf blossom fler fleurs lises leis lisse flur folwers stems trefoils floral lily posy bouquet flowers flour fllower bud bloomed trefoil floret floer stem flowery lilys fluer fleures pedals leafs leave leaved leafed leafy leavs

Comments

Actually, the information presented here is somewhat innacurate:

1. The currency reform took place in June 1962. ( see: http://dokdo-research.com/hwancoins.html )

2. This 10 Hwan coin WAS legal tender even after the 1962 currency reform, but it was just revalued downward at a 10 to 1 rate, 'turning it into' a 1 Won coin.

3. These coins continued to circulate until 1975, when the Bank of Korea completely demonetized them, since they no longer were needed to fill the need for small-denomination currency that was acute in South Korea in the early to late 1960s. By 1975, the Korean Mint was cranking out new Won coins in denominations of 1, 5, 10, 50, and 100 by the tens of millions. - Mark
Thanks for setting us straight, Mark. We appreciate your input. We fixed our page. - CoinQuest (Paul)

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