 Emperor Kwang Nu, 1897-1907. 20 Won, Kwang Mu Year 10 (1906). Dragon clutching the Pearl of Celestial Wisdom, legend DAE HAN, Great State (Korea), regnal date with denomination in the Korean phonetic alphabet. Rv. Denomination under Plum Flower crest within Rose of Sharon and Plum wreath. Alan D. Craig, Coins of Korea, 53, Fr.1, KM 1131. This first Emperor of Korea began his reign as King Kojong in 1864 and confronted in turn Chinese, Russian and Japanese attempts of establish domination over Korea. China's 1895 defeat by Japan eliminated her influence, and Russia's 1904-1905 defeat in the Russo-Japanese War left only a triumphant, expansionist Japan in the field. His successor the Yung Hi Emperor was little more than a helpless puppet of the Japanese and was unable to prevent the out and out annexation of Korea by Japan in 1910.
The Kwang Mu Emperor is remembered today with affection for his lifelong efforts to preserve his country's independence. Korea's last independent Bronze, Nickel, Silver and short-lived Gold coins were identical to equivalent denominations of Japan's later Meiji era. The dragon is identical to that on Japanese coins. In Chinese usage, the imperial dragon symbolically pursues the flaming Pearl; the Japanese dragon grips it firmly.
The number struck at Osaka after the closing of the Korean Mint has been reported as 2,506 but this figure is meaningless today, as the Japanese government ordered the withdrawal and melting of all Korean gold after the annexation of the peninsula in 1910. The number that escaped melting can only be described as minuscule. The 20 Won is a long-recognized major rarity, with a preponderance known in lightly circulated grades. Stack's 1982 Mortimer Hammel sale offered a Choice Extremely Fine example that reached $25,000; the Extremely Fine example in our December 1996 sale climbed to $34,000. Auction realizations have increased geometrically in recent years. The present sharply struck and boldly lustrous coin will reveal a tiny reverse tic under careful scrutiny but is certainly a strong contender for the finest known among the handful of survivors. Gem Brilliant Uncirculated. (Est. $100,000-$125,000)
Ex Louis E. Eliasberg Collection (American Numismatic Rarities, April 2005, lot 2315); previously ex Lipno Collection (Henry Christensen, November 1961, lot 421).
| |
| Hammer Price: $140,000.00
|
|
