Digital museum showcasing the collection of worldwide legends over the years! 千古不朽博物館展示多年來收藏的世界傳奇故事!
Korean Empire 5 Fun
Gwang Mu 2nd year
大韓帝國 五分 光武二年
Item number: A322
Year: AD 1898
Material: Copper
Size: 26.0 x 26.0 mm
Provenance: Fuchin Coin 2024
This coin is a 5 Fun bronze coin of the Korean Empire, minted at the Incheon Mint in 2nd year of Gwang Mu era (AD 1898). In the center of the obverse side of the coin, two dragons are engraved, surrounded by the inscription “大韓·光武二年·5 Fun·오푼”. Both “5 Fun” and “오푼” refer to five Fun. On the reverse side, the central character is “五分” in Chinese characters, with a plum blossom above it, surrounded by a floral wreath.
The first coins in Korea were struck on 4 December AD 1892 but were not released until 20 August AD 1894. This delay was primarily attributed to objections from Yuan Shi Kai, a Chinese warlord, regarding the inclusion of the phrase “Great Korea” on the coins. As a consequence, coins minted in AD 1893 and 1894 did not feature this inscription. It was only after China’s involvement in the Sino-Japanese War and subsequent defeat that coins bearing both “Great Korea” and “Korea” were released.
In AD 1892, a new mint was established in Incheon due to its proximity to the port, leading to the demolition of the old mint in Seoul. Machinery and raw materials were imported from Japan, whereas previously, planchets had been imported from overseas. The Incheon Mint possessed the capability to smelt and produce planchets locally. The technical staff of the mint remained predominantly Japanese. In AD 1893, operational control was transferred from Japan to Korea, but the venture faced challenges primarily due to insufficient technology and operational funds. Moreover, the mint was deemed too small, necessitating expansion.
In AD 1895, the government undertook efforts to expand the Incheon Mint, although these plans were halted in AD 1898 by the King’s decision to relocate the mint closer to the city. Subsequently, in AD 1900, the Incheon Mint was relocated to Yongsan Mint (龍山典圜局), which officially opened on 4 May AD 1900.