Silver Bullion Medallions from KOMSCO
Until 2016, many investors and collectors in North America were unfamiliar with the official sovereign mint of the Republic of Korea, better known as South Korea. KOMSCO, or the Korea Minting and Security Printing Corporation, was founded in October 1951 to provide secure and stable currency production and control for the nation of South Korea.
Following the 2016 release of the Chiwoo Cheonwang Series, KOMSCO leaped onto the map globally as a new powerhouse in precious metals product. Learn about these exciting range of South Korean silver bullion medallions below!
Chiwoo Cheonwang Series
The South Korean Chiwoo Cheonwang Series of gold and silver medallions from KOMSCO put the South Korean minting facility at the forefront of investor minds during one of the hottest sales years for many bullion programs around the world. Introduced in 2016, the Chiwoo Cheonwang Series features the image of Chiwoo Cheonwang, a real-life figure whose exploits on the field of battle earned him mythological status among ancient Chinese and Korean people.
KOMSCO uses what it considers a progressive design approach for the Chiwoo Cheonwang medals. By this, it means the designs of Chiwoo Cheonwang on the reverse side change each year, but not just at random. The design elements are meant to follow Chiwoo as he prepares for war and leads his troops into battle. Each design remains focused on his military exploits with a different pose each year. For example, the progression of the designs from 2016 to 2018 went as follows:
2016 – Chiwoo Cheonwang was depicted standing alone on the field. He has donned his full military regalia and armor in this pose and is awaiting his warhorse to be brought to him so he can lead the army into battle.
2017 – This Chiwoo Cheonwang depiction shows the accomplished military leader after mounting his warhorse. The horse bucks upward as he no doubt delivers an inspirational speech to his troops before the battle begins.
2018 – In the 2018 design, Chiwoo Cheonwang is featured taking the fight to his enemies. This is the closest the design elements have come to his figure, capturing mostly his torso in the design as he is riding his horse into the battle. He lowers his sword preparing to strike down any enemies he encounters. This is most likely the view his enemies had of him just before their death at his hands.
When the Chiwoo Cheonwang Silver Medallions were introduced in 2016, the mintage was set at just 30,000. That figure was increased to 50,000 for the 2017 release in response to the initial popularity and then lowered modestly to 45,000 in 2018 as demand for silver began to cool. The Silver Chiwoo was available only in 1 oz silver in 2016 and 2017, but as of 2018, a 10 oz silver bullion option has been introduced as well.
Packaging of South Korean Silver Medallions
KOMSCO issues its silver bullion medallions with individual and bulk purchase options. For the Chiwoo Cheonwang Series , KOMSCO offers the medallions with either individual protective plastic, mint tubes of 25, or sealed boxes of 250 medallions that includes a total of 10 tubes per box.
Certified South Korean Silver Bullion
Both the Numismatic Guaranty Corporation and the Professional Coin Grading Service have certified a variety of South Korean silver bullion products from these lineups. The South Korean Chiwoo Cheonwang feature low-mintage proof options which have been certified as well. Examples of certifications include:
- Mint State 70: Identifies a bullion coin as perfect, with full, original mint luster and no detracting flaws.
- Mint State 69: Denotes a near-perfect bullion coin with full, original mint luster and a maximum of two minor detracting flaws.
- PF/PR70: This certification is reserved for proof coins and symbolizes the same condition as an MS70 coin.
- PF/PR69: Also reserved for proof coins, this symbolizes the same condition as an MS69 coin.