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silversky

NK gold coins

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15 minutes ago, silversky said:

Interesting.  I didn't realise that trading in a piece of numismatic artwork that had originated in a sanctioned country would itself be a sanctioned item outside that country.  I guess it sort of makes sense but also not really.  Funny really when it's perfectly acceptable for the bbc to discuss the presence of collectors coins.  The other question of course is whether the government have currency controls that make it illegal to remove the coins from the country?  I'm pretty sure I've heard of some countries have had that at certain times throughout history so I guess it could be the case that they are not for sale to the outside world.

Either way, when the whole mess is resolved(hopefully peacefully) and the sanctions come to an end then there will no doubt be an interest in such collectors pieces.

There is a very famous investor called Jim Rogers who has been on a buying spree for the gold coins as there are so little of them. I think they are banned on eBay because eBay is an American company, if I am wrong someone can correct me on that.

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3 hours ago, silversky said:

I guess the other issue is that their large neighbour has a bit of a history of forging pm's and so knowing if you are getting something genuine or not would be difficult.  If the price was massive then the risk would outweigh the potential.

That's the first thing That came into my mind. I'm not saying @oliversw5 coins are fake. But these are so unusual that there's no way for the regular guy to check against. A google search for North Korean coins shows a mix of Korean coins including South Korean coins. The pros must have a way. Regardless, then there are these and many many more.

https://www.aliexpress.com/item/7/32692505434.html?src=google&albslr=115840804&isdl=y&aff_short_key=UneMJZVf&source={ifdyn:dyn}{ifpla:pla}{ifdbm:DBM&albch=DID}&src=google&albch=shopping&acnt=708-803-3821&isdl=y&albcp=653153647&albag=34728528644&slnk=&trgt=57344828050&plac=&crea=en32692505434&netw=g&device=c&mtctp=&gclid=Cj0KCQiAsqLSBRCmARIsAL4Pa9TRpD3y_NU0bF_X8V2sBnOMR0A8NSd0bLKwzRqRYX1x11ec6D6GF9kaArvlEALw_wcB

https://www.aliexpress.com/item/Set-4Pcs-North-Korea-5-10-50-100-Won-Coin-World-Coins-for-Collect-100-Real/32831865818.html?spm=2114.search0204.3.53.ESDbgV&ws_ab_test=searchweb0_0,searchweb201602_1_5130011_10152_10065_10151_10344_10068_10130_10324_10342_10547_10325_10343_51102_10546_10340_10548_10341_10545_5000011_10084_10083_10307_5920011_10312_10059_10313_10314_10534_5790011_100031_10604_10103_10594_5060011_10142,searchweb201603_36,ppcSwitch_5_ppcChannel&algo_expid=9257b006-e986-46a7-833c-f7f555c76f73-8&algo_pvid=9257b006-e986-46a7-833c-f7f555c76f73&transAbTest=ae803_4&rmStoreLevelAB=5

 

 

3 hours ago, silversky said:

 

Edited by 999magnum

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8 minutes ago, 999magnum said:

There are sources out there, but sadly they are not comprehensive. Take a look a Numista, its a tool I have used often, being cynical will ironically open your eyes.

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4 minutes ago, 999magnum said:

Ah forgot about Numista. I've been using that site lately for all my world coins I've been picking up.

You are right to be cautious. I know most of my contacts pretty well and I didn't start buying NK coins until I had established a solid working partnership with my contact. Saying that, you have hit the nail on the head with the average guy. I bought these along with the silver notes as I wanted to trailblaze the market, the notes flew but the NK coins I think were a bit too far out of peoples comfort zones.

Edited by oliversw5

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If you are buying Gold from North Korea, you are breaking international sanctions.  That's not like getting into a VAT-argument with HMRC; it's serious prison time in the States.

This is no different to buying the ISIS coinage that got talked about last year.  If you're buying North Korean currency, you're financing a hostile weapons programme and propping up a regime.

It's not quirky to be offering NK coins - it's a really, really poor decision which could have serious unintended consequences.

Edited by Clens92

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Dad's here, scarper lads!

Selling a brass coin will finance their Lego nerf-missile launcher.

Presumably the coins are already out of state hands and are now secondary market, being resold and resold. There's no tithe being kicked back to NK. But you could argue that if Oliver's mate shifted all this stock to forum members, then it might create a demand vacuum or precedent for more to be minted and 'accidentally' allowed to leave the DPRK again. So, point taken.

Edited by Jay2

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2 hours ago, Clens92 said:

If you are buying Gold from North Korea, you are breaking international sanctions.  That's not like getting into a VAT-argument with HMRC; it's serious prison time in the States.

This is no different to buying the ISIS coinage that got talked about last year.  If you're buying North Korean currency, you're financing a hostile weapons programme and propping up a regime.

It's not quirky to be offering NK coins - it's a really, really poor decision which could have serious unintended consequences.

Ok, relax. Nobody's  financing a hostile weapons program or propping up a regime. We are talking about some damn coins from NK. This is not like " buying the ISIS coinage". That's just ridiculous. These are coins already out of NK on the secondary market. If the idea is what bothers you then it's an issue that you alone have to work out. As @oliversw5 already stated, he did not purchase ANY gold coins. The US was looking into NK laundering millions of dollars and thus the sanctions. Collecting a dozen coins does not qualify as money laundering friend. Also I hate discussing politics where I enjoy my hobbies, but here goes, I hate Kim Jung Un. With that said, we were talking about coins. 

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I find it funny...

its hypocrisy at its finest. Instead why don’t you stick with American coinage whose country has displaced several countries, is openly oppressive if you are not white, will invade you for resources  and the send in infrastructure companies to clean up the mess leaving a further financial void. 

Or chinese coins whose human rights record is atrocious to all including its own. 

Or australian coinage who actively disposed its indigenous population. 

Or british coins etc etc you get the point I’m trying to make. 

Fitstly you don’t know when the coins were minted or sold, secondly they are base metal and thirdly everyone knows the statement you made is bullshit.

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2 minutes ago, oliversw5 said:

if you are not white, will invade you for resources  and the send in infrastructure companies to clean up the mess leaving a further financial void. 

 

That's just the Clintons. *ends political nonsense*

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For the record though, as I have been dragged into this. I don’t agree with Kim jung un but then again I don’t agree with trump and I don’t agree with xi or Putin or even macron and his federalist views but lets get some perspective here. I’m not out there hating peoples or pushing my agenda or being a nationalist, I’m enjoying a hobby with people from all classes and all walks of life..

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wonder selling US/Israel financed ISIS weapons captured by Syria/Russia and sell to NK/Hezbollah would be a violation of US sanction

US usually buy Soviets weapons for their fighters :) 

selling oil to NK is legal

 https://www.reuters.com/article/us-northkorea-usa-oil/how-north-korea-gets-its-oil-from-china-lifeline-in-question-at-u-n-meeting-idUSKBN17U1I1

 

selling with a different route is countering UN sanction :D

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2 hours ago, oliversw5 said:

I find it funny...

its hypocrisy at its finest. Instead why don’t you stick with American coinage whose country has displaced several countries, is openly oppressive if you are not white, will invade you for resources  and the send in infrastructure companies to clean up the mess leaving a further financial void. 

Or chinese coins whose human rights record is atrocious to all including its own. 

Or australian coinage who actively disposed its indigenous population. 

Or british coins etc etc you get the point I’m trying to make. 

Fitstly you don’t know when the coins were minted or sold, secondly they are base metal and thirdly everyone knows the statement you made is bullshit.

Well apparently I hit a nerve...

Justify it in whichever way you like mate, it’s not my problem. You’re the one admitting to making deals on ‘illegally sourced’ (your words) coins from a country in which, however hard you try to deflect, proceeds of exports go towards their military programmes. 

 

It’s just silly, that’s all. 

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6 hours ago, Clens92 said:

Well apparently I hit a nerve...

Justify it in whichever way you like mate, it’s not my problem. You’re the one admitting to making deals on ‘illegally sourced’ (your words) coins from a country in which, however hard you try to deflect, proceeds of exports go towards their military programmes. 

 

It’s just silly, that’s all. 

Firstly, I would like to wish yourself and everyone else a happy new year. 

I would also like to say yes you did hit a nerve and Ill explain, when you write this "If you're buying North Korean currency, you're financing a hostile weapons programme and propping up a regime" its going to get peoples backs up. I know for a fact that the minimum chain of buyers is 4. I bought from my guy who bought a job lot from an auction. I don't have to justify my purchases to anyone, they are accounted for and taxed accordingly. Buying NK coins is not illegal, the UN sanctions don't extend to these items. I would also like to add that a very prominent member of this forum who is both well respected and has a very large following on youtube bought into these coins also. I won't mention names but I have heard on good authority he bought them, I asked my supplier if anyone else had bought from him and he told me that this guy had bought from his partner. I also know for a fact if his guy had been writing on this thread you wouldnt have said anything. Funny how politics works is it not?!?

So no I don't need to justify myself and no I don't feel bad because I am not funding any regime it is a ridiculous statement at best and a retarded statement at worst. 

I am a hardworking, tax paying guy who buys and sells coins - a bit of perspective wouldn't go amiss. I have no intention of furthering this thread, I wanted to help someone on this thread and share my enthusiasm for coins and yet again what I say has been derailed by someone else. 

All the best

Shaun Bin Laden

 

Edited by oliversw5

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Interesting subject anything to do with the  USA and North Korea at the moment is controversial maybe if the 2 concerne will grow up and talk we will all be better off.

The coins are excellent looking at the photos are they quality?

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9 hours ago, gazer said:

Interesting subject anything to do with the  USA and North Korea at the moment is controversial maybe if the 2 concerne will grow up and talk we will all be better off.

The coins are excellent looking at the photos are they quality?

Hi Gazer, 

I am was pretty shocked at how good some of the coins were. Some are poor compared to international standards but they are a topic of interest.

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