My 7 June 2009 Coin Hunting Trip in Butterworth Roadwalk

Until June this year I had been in Penang 3 times for my coin hunting trips. Sorry to all my frequent reader because I don't have time to post them lately. Some friends asked me why do I go to all the way to Penang to buy my stuff? the answer is simply because you can buy your coin, banknote, antiques or any collectibles much more cheaper in Penang. I will not come back empty handed when I am doing a hunting trip in Penang. I am doing blogging simply because I want to share where do I get my coin, banknote or paper money from. I don't like to buy my coin in normal coin shop because the higher price given.

My latest hunting trip to Penang is in 7 June 2009. I am looking for King Edward VII 50 cents 1902 or 1903 coin. Never seen that coin for sale even once in my entire collecting life. I visited few coin friends in Penang. One of them is uncle Ah Kit in Butterworth Roadwalk. To all of my reader who had been buying from all my banknote and coin friends, thanks for supporting small time trader like us. It is good to hear that someone exactly is reading my blog and called my friends looking for something.

If you're looking for Malaysia 10 sen 1971 coin and Malaysia one ringgit Ali Abul signature at a cheaper price, Uncle Ah Kit is one seller you're looking for. He is one seller that I know who consistently have this rare Malaysia coin and rare Malaysia banknote. At my time of visit, Uncle Ah Kit have 2 pieces Malaysia 10 sen 1971 coin. one piece Malaysia 10 sen 1971 is in Extremely Fine condition and one piece is in Uncirculated condition. He also have one piece Very Fine condition Malaysia one ringgit Ali Abul signature. You can try to contact him about the price at his number 012-6727950. He also willing to post them to you via poslaju.

Uncle Ah Kit also have some Malaysia Commemorative coin and China Commemorative coin for sale. One of the coin that everyone might be interested is International Year of Astronomy 2009 Commemorative coin. He has two of this commemorative coin on sale. Another one is Bank Negara Malaysia 50 years Anniversary Commemorative coin.

I remember some friend is asking my help on finding some old banknotes in Very Good condition. I check my e-mail but I cannot find who is asking about them. One of the banknotes is Malaya and British Borneo Queen Elizabeth 50 dollar banknote in fine condition. Another banknote is King George Malaya emergency issue 25 cents in fine condition. He is selling Malaya and British Borneo Queen Elizabeth 50 dollar banknote for RM250.00 and Malaya King George emergency issue 25 cents for RM200.

I cannot find what I am looking for in Uncle Ah Kit stall but I found some banknote and coin that interest me. Will be posting about them later on. I am back from a horrible months without Internet and will try to post in this blog frequently. Thank you for all my frequent blog reader and sorry If I still haven't reply any of your email or question. Please email your question again. Feel free to email me at lunaticg@gmail.com if you want some help on identifying your coin (especially Malaysia coin but will try to answer about any world coin). happy hunting.

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Controversy on the New 50,000 Won Banknotes

There is some controversy and confusion over the new Korea 50,000 won banknote. The new banknote depicts Shin Saimdang (1504-1551), a female writer and calligrapher from the Joseon Dynasty (1392-1910). She represents a “wise mother,” raising one of the most prominent scholars, Yulgok, whose portrait is on the 5,000 won bill. Korean citizen complaint that they cannot differentiate the new banknote with 5,000 Won banknote, The blind people a little bit hard to getting familiar with the new banknotes and the family complaining that the picture in the banknote doesn't look like her.

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DIFFERENT FACE CONTROVERSY

The Bank of Korea (BOK) 한국은행 will issue a new 50,000 won banknote in June. The new banknote depicts Shin Saimdang (1504-1551), a female writer and calligrapher from the Joseon Dynasty (1392-1910). She represents a “wise mother,” raising one of the most prominent scholars, Yulgok, whose portrait is on the 5,000 won bill. Shin is going to be the first woman to be featured on Korean currency.

The BOK unveiled a sample of the new banknote to the public on February 25 after completing its design and anti-forgery protection. However, concerns started to rise over Shin’s portrait. Members of the Gangneung Choi family, relatives of Shin, requested the BOK to retrieve the original look of Shin, saying that the portrait drawn on the new bill is totally different from Shin’s original portrait.

Choi Sun-kyu, a representative of the Choi family said, “Shin’s face is longer in the original copy than in that on the banknote,” and added, “Shin passed away at the age of 48 but the banknote shows a woman in her 30s without any wrinkles.”

In response to the discontent, Lee Jong-sang, who painted Shin for the new 50,000 won banknote, confirmed that he drew her based on the original copy and replied that a person’s features can look different if you view them from a slightly different angle. Moreover, the BOK stated that Shin’s portrait was drawn with the help of experts based on the original copy and therefore the new 50,000 won banknote will not be modified and will begin its circulation as was planned.

Posted by Kyung-Hwa Park in bookclub

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Fri, Jun 26, 2009
The Korea Herald/Asia News Network

Confusion and controversy surrounded the first days of 50,000 won banknotes in circulation, the highest denomination bill ever issued in Korea. Worth about $38, the new notes debuted on June 23, amid both hopes and worries as Korea goes all out to boost private consumption while warnings grow over the risk of inflation on a global scale.

Controversy erupted shortly after the introduction. Local media took issue with the "windowed security thread," which the Bank of Korea billed as one of the cutting-edge anti-counterfeiting features of the new notes. Some parts of the strip appear to be a series of silver dashes on the paper surface. The paper on which the strip is embedded separates a bit at the end, which reports suggested may be a defect that may cause problems with automatic teller machines.

"A test conducted by the Korea Minting and Security Printing Corp. showed that there is no problem using 50,000 won notes at ATMs, even when the paper-separation phenomenon happens," Lee Nae-hwang, a BOK official said yesterday in response to these reports.

"But please do not intentionally separate (the security strip in notes) out of curiosity."

The new notes, five times more valuable than the 10,000-won notes which have been the country's highest denomination bill for 37 years, are designed to be distinctively different from the existing notes, BOK officials explained. They are the longest in size and the first to feature a woman. Still, some find it little confusing.

A citizen complained on the BOK's website: "I still have trouble telling 1,000 won notes from 10,000-won notes when the lights are dim. The new 50,000-won notes also look much too similar to 5,000-won bills."

The 50,000 won notes have the color of golden yellow, while 5,000-won bills have red and yellow. Other paper notes have blue or green. A citizen posted comments to the website of the Bank of Korea, complaining that supermarkets and small shops have to prepare more small change in case customers pay by the 50,000 won notes for a cheap item.

Meanwhile, associations for the visually-impaired were busy helping blind people become familiar with the new notes. The BOK plans to supply banknote gauges which should help them to identify four different banknotes. "They will be released within the month," officials said.

At an online marketplace Auction, the daily sale of forgery testers soared threefold since the introduction of the new bills, company officials said.

Source: asiaone business

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South Korea New 50,000 Won

Do any of you remember about South Korea 50,000 won banknote with woman to appear in their banknote for the 1st time? On 22 June 2009, Bank of Korea Governor Lee Seong Tae release the new banknote for public use. The front of the bill - South Korea's largest-denominated note show artwork by and a portrait of Shin Saim-dang, a well-known artist who died in 1551. Shin was the mother of Yi I, a famous Confucian scholar, and is popularly referred to as a symbol of a "wise mother and good wife."

South Korea on Tuesday issued its first high-denomination banknote for 36 years, ending an era of bulging wallets and raising hopes among retailers that consumers may be enticed to spend more. The 50,000-won (S$57) bill is the highest-value note since the 10,000-won bill was issued in 1973.

It is also the first to carry the portrait of a woman, in what one newspaper called a sign of greater gender equality in a formerly male-dominated society. Scores of curious customers queued outside the central Bank of Korea, trying to obtain bills with early serial numbers which can be sold to collectors.

Since 1973 commodity prices have risen twelvefold and per capita income has increased 110 times, forcing many Koreans who do not wish to use credit cards to carry thick wads of notes or bank cheques issued in fixed sums. The new note will reduce the cost of issuing such cheques, which stood at 280 billion won (S$310 million) last year. The government had previously resisted moves for a higher-value banknote, partly due to forgery fears. The new note has sophisticated anti-forgery features such as holograms.

It carries the portrait of Shin Saimdang, a 16th century female artist and writer. Her appearance 'has clear implications about the improved status of women and gender equality in modern days,' the Korea Times said.

Its editorial said the bill would likely encourage spending but could also fuel inflation and make corruption easier than ever. 'The note may be easily used for politicians and business people to raise slush funds, provide or receive bribes or pay for dubious deals,' it cautioned. -- AFP

Source: Straits Times Singapore
Banknote picture from joongangdaily.joins.com

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Coin For 2010 FIFA Football World Cup in South Africa Unveiled

The countdown for FIFA 2010 football world cup are 362 days ahead but the fever is coming with many collectibles for this occasion will be out. I found this news about FIFA 2010 football world cup coin in early June. Big sorry again for all my frequent blog reader, I am having problem with Internet connection right now. My work is in one of the biggest Port in Malaysia but I am having problem finding an Internet connection for my office. If there will be no choice, I will have to use 3G Broadband by any telco.

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JoongAng Daily

World Cup fever caught on like wildfire after Korea beat the United Arab Emirates 2-0 in its qualifier in Dubai on Sunday morning (Korea time) to advance for the seventh straight time to the World Cup, which will take place next year in South Africa, the first in the event’s history to be held on the African continent.One way to celebrate the occasion is with coins commemorating the 2010 World Cup in South Africa.


South African Ambassador to Korea Stefanus J. Schoeman launched the commemorative coins in a ceremony held at his residence last Wednesday. Bronwyn Mullen, a South African who has become something of a celebrity here following her appearance on the popular Korean TV program, “Minyeodeuleui Suda (Chatting Beauties),” was also on hand for the event.

The ambassador said that the launch is well-timed since there is just one year before the World Cup begins on June 11, 2010. He promoted the sets as a good investment given the current strength of gold prices. Schoeman also expressed his hope that South Africa and Korea will both make it to the final. The sets contain eight coins, five gold and three silver, each with the official emblem of the event and images of wild animals native to Africa.

Hwadong, a Korean coin distributor that has distributed commemorative coins for international sporting events, including the 1988 Seoul Olympic Games, has been designated as the exclusive distributor of the 2010 World Cup coins in Korea. The coin sets can be purchased on a subscription basis until June 19 at post offices and branches of Kookmin Bank, Shinhan Bank and the National Federation of Fisheries Cooperatives, or Suhyup, around the country.

By Park Sun-young [spark0320@joongang.co.kr]
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