Korea Minting and Security Printing Corporation has released two new designs of bullion medals.
On the 25th, the Mint announced the launch of the ‘2024 Chiwoo Cheonwang’ and ‘Jisin Draco (Dragon)’ bullion medals. The released medals are designed based on Chiwoo Cheonwang, who battles evil spirits and naval battles, and Draco, the most powerful among the 12 zodiac guardians.
The bullion medals can be purchased through the Mint’s online shopping mall and the offline store ‘Orot Diwumgwan.’ However, the quantities are limited to 300 gold medals and 30,000 silver medals per product.
Previously, the Mint first released the Chiwoo Cheonwang bullion medal in 2016 and the Draco bullion medal in 2017. Both medals have consistently remained popular and are being re-released this year with new designs.
Following Chiwoo Cheonwang and Draco, the Mint plans to consecutively release ‘Tiger who climbed Jeju Hallasan’ next month and ‘Korean Phoenix’ in August.
Bullion medals are recognized overseas as safe assets as common as gold bars. Based on this perception, the Mint has introduced new products annually since 2016, starting with the Tiger bullion medal, followed by the Chiwoo Cheonwang and Jisin series.
In particular, the bullion medals released by the Mint are produced in limited quantities, gaining value among collectors.
Globally, the market size for bullion medals (coins) is estimated to exceed 20 trillion won. Representative bullion medals include the American Eagle, Canadian Maple Leaf, and British Britannia. However, domestically, they are released as bullion medals rather than bullion coins, and 70-80% of the annual production volume is exported.
Sung Chang-hoon, president of the Mint, said, “Unlike overseas, the recognition of bullion is relatively low domestically,” adding, “We hope this medal release will provide the public with an opportunity to purchase safe assets and serve as a chance to widely promote the value of bullion medals.”
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