KOREA. Warn Pattern Struck in White Metal, Year 495 (1886). NGC MS-61.KM-Pn17; K&C-24.1 (for basic type); Bank of Korea-371; Da Guang Se-13-6. Tai Guk Design, Test Coin for the first modern machine struck coinage series of Korea. This series came to being as a result of the proposed attempt at improving the Korean monetary system. At the time of its inception predominantly square holed copper coins or "yopchon" were used in circulation. Although "yopchon" was a perfectly acceptable form of payment for local transactions, it was not widely accepted by foreigners. The government then contracted a German by the name of Mollendorf, to act as superintendent of the Chonwankuk, Government Mint. Mollendorf in turn contracted engineers from the Osaka Mint in Japan in order to help modernize the mint and coinage system. The 1886 pattern series came as a result of this attempt. Originally patterns were produced and presented in the following denominations: Gold 20 Warn, 10 Warn, 5 Warn, 2 Warn and 1 Warn; Silver 1 Warn, 5 Niang, 2 Niang, 1 Niang and 1/2 Niang; Copper 20 Mun, 10 Mun, 5 Mun, 2 Mun and 1 Mun. Although patterns for every denomination were produced, only the 1 Warn, 5 Mun and 10 Mun were struck for circulation. This pattern is of 1 Warn, the largest issued silver coin. Unlike most of the patterns of this series, it was actually produced for circulation. It is EXTREMELY RARE in any form, as the circulated mintage is believed to be only 1,300 pieces. Sharply struck with good surfaces, showing minor signs of handling.NGC MS-61.
