Posted on October 04, 2017
In 2016, Korea Minting and Security Printing Corporation released a new series of gold and silver medals for sale. The new South Korean Chiwoo Cheonwang Series of medals were offered that first year with extremely limited mintage figures. The 1 oz silver medal had a low mintage of 30,000 and the 1 oz gold medal featured an even lower mintage of 2,016, matching the inaugural year of issue.
For 2017, KOMSCO updated the imagery used on the Chiwoo Cheonwang Series of medals, and offered expansion in the series for the gold medal. With a higher mintage figure than its 1 oz counterpart, the 1/10 oz Chiwoo Cheonwang Gold Medal debuts with beautiful, colorized assay packaging. Available for purchase now online from JM Bullion, learn more about the 2017 1/10 oz South Korean Chiwoo Cheonwang Gold Medals before you buy!
When the 2017 Chiwoo Cheonwang medals debuted from KOMSCO, there was a new design twist for the reverse design of the medals. In 2016, the reverse design depicted Chiwoo Cheonwang standing on the field of battle with his full armor on. This image was altered slightly for the 2017 issue. Chiwoo is still depicted in his full battle regalia with his traditional shield in his left hand, but now he is depicted mounted on his war horse.
This design was made available on the 1 oz silver medal, 1 oz gold medal, and on the new 1/10 oz gold medal in the collection. Other features of the new release include the following highlights:
On the reverse of all 2017 1/10 oz South Korean Chiwoo Cheonwang Gold Medals is the image of a shield wielded by Chiwoo in battle. This design remains unchanged in 2017, with engravings on this side including the nation of issue as “Republic of Korea,” the weight, metal content, and purity of the medal, and the inscription of “KOMSCO” at the bottom. There is also a latent security image engraved below the shield to help deter counterfeiting.
The obverse of the 1/10 oz South Korean Chiwoo Cheonwang Gold Medal is the depiction of Chiwoo on horseback. The only inscription on this face of the medal is the name of the medal series, “Chiwoo Cheonwang.”
Few silver and gold coins for sale are offered in the type of packaging KOMSCO offers for the 2017 1/10 oz South Korean Chiwoo Cheonwang Gold medals. Rather than capsules or sealed sheets, the coins are sold individually inside of plastic assay cards with certificate information on the back side of the packaging. The medals are offered in one of four different colors: white, black, blue, and red.
From the maximum mintage of 25,000 gold medals in 2017, the 1/10 oz gold medals are divided up among the four colorized assay certificates in different percentages. The white label has the highest percentage, representing 70% of the overall mintage of 25,000. Each of the remaining three colors represents roughly 10% of the total mintage of 25,000.
The history of Chiwoo Cheonwang dates back to ancient China. He is believed to have been the tribal leader of the Nine Li tribe, and is best known as a leading warrior and general in the battle against the future Yellow Emperor of China. His legend exists across Asia though, with Hmong people viewing Chiwoo as a mythical king. Chiwoo’s mythology traveled to South Korea thousands of years ago with the culture of tribes that used to live in what is now China.
For South Koreans, Chiwoo Cheonwang is known as the God of War and a brave warrior who possessed unimaginable powers. It is said that during battle, Chiwoo had the ability to control the weather and bend it to his will to benefit his forces during conflict. He is said to have also possessed the ability to cast magical spells on his enemies to tilt the battle in his favor.
Today, Chiwoo is best known among average South Koreans as the symbol of the Red Devils. During the 2002 World Cup, hosted by South Korea and Japan, the fans of the South Korean national team adopted the terrifying face of Chiwoo found on his battle shield as a mascot for their group of devout fans of the team.
Founded in Daejeon, South Korea on October 1, 1951, the Korea Minting and Security Printing Corporation (KOMSCO) serves as the official sovereign mint of the Republic of Korea. The government-owned entity is responsible for the minting of South Korean coinage, both commemorative and circulation, as well as the printing of banknotes, checks, passports, and other official government documents. The mint also produces coins for other currencies.
The Chiwoo Cheonwang collection of silver and gold medals represents its first major foray into bullion coin production, and so far the series has proven immensely popular. The 2016 initial release sold out in silver, prompting KOMSCO to boost the mintage from 30,000 in 2016 to 50,000 for 2017.
To learn more about new and upcoming coin releases, as well as relevant news in the precious metals industry, we encourage you to follow our blog here at JM Bullion. We post regularly to give our followers fun, informative reads, and you can always follow us on Facebook as well. There you’ll find the latest updates on coin images, learn right away when a new blog post goes live, and even have a chance to share your thoughts on new coins and bullion series with us directly.