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Counterfeit Detection - South Korea (1959) 50 Hwan

Just because something is common, not very expensive, or of modern production doesn’t mean that it will not be a target for counterfeiters looking to profit from people’s complacency concerning the authenticity of such coins. Recently in a submission of modern coins from the PCGS office in Hong Kong, a few South Korea 4292 (1959) 50 Hwan coins were found to not be genuine.

South Korean coinage has become very collectible in South Korea, especially circulation-issue coins. In recent years, some of these early hwan issues have started to see strong demand in high grade, sometimes bringing in excess of $1,000 USD. With a mintage of 24,640,000 coins for 4292 (1959) 50 Hwan coins, they are not rare, however there is a strong collector demand, and that demand has led to the production of counterfeits. The counterfeit (pictured on the right) is produced with dies that mimic the design, but it isn’t correct. The most glaring difference between the authentic coin and the counterfeit is the water.

Full article: https://www.pcgs.com/news/south-korea-50-hwan-counterfeit

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