Jump to content
  • The above Banner is a Sponsored Banner.

    Upgrade to Premium Membership to remove this Banner & All Google Ads. For full list of Premium Member benefits Click HERE.

  • Join The Silver Forum

    The Silver Forum is one of the largest and best loved silver and gold precious metals forums in the world, established since 2014. Join today for FREE! Browse the sponsor's topics (hidden to guests) for special deals and offers, check out the bargains in the members trade section and join in with our community reacting and commenting on topic posts. If you have any questions whatsoever about precious metals collecting and investing please join and start a topic and we will be here to help with our knowledge :) happy stacking/collecting. 21,000+ forum members and 1 million+ forum posts. For the latest up to date stats please see the stats in the right sidebar when browsing from desktop. Sign up for FREE to view the forum with reduced ads. 

NK gold coins


silversky

Recommended Posts

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.

Link to comment
Share on other sites

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
Link to comment
Share on other sites

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.

Link to comment
Share on other sites

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
Link to comment
Share on other sites

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
Link to comment
Share on other sites

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
Link to comment
Share on other sites

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. 

Link to comment
Share on other sites

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.

Link to comment
Share on other sites

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..

Link to comment
Share on other sites

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

Link to comment
Share on other sites

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. 

Link to comment
Share on other sites

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
Link to comment
Share on other sites

  • 2 weeks later...

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?

Link to comment
Share on other sites

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.

Link to comment
Share on other sites

  • 2 months later...

The top coin is the DPRK slab and ungraded by PCGS with the COA.   I could have waited or get it graded myself, but I liked the idea of finding a newer release with original slab.   

The set below is ungraded and just brass and aluminum as Im having problems finding a silver proof of the kwangmyongsong-1.    There aren't many of these floating around as they are from 2007.   The press release from the PCGS graded and DPRK slabbed are 500 per coin.   I know they get released through some coin show in China....and the hard part is just finding someone who sells DPRK silver and gold.   

And I was sent an offer for a 2 ounce anti-USA propaganda gold proof.  Sadly, that is way out of my budget at a staggering $9400 USD.  I settled for the 2 ounce silver proof though  ;)

Edited by gforeman
sp
Link to comment
Share on other sites

This is the 2 ounce silver proof i literally just bought :D  Ungraded as well obviously.  Release says 200 minted for 2 ounce silver.   Theres a 10 minted 1kilos out there.  And 20 2 ounce gold ones.  Theres also about 1000 brass and aluminum and hybrids.  

 

kimmy.thumb.jpg.ec5158820a545cd80f383523cb85fce4.jpgs-l1600.jpg

Edited by gforeman
further info
Link to comment
Share on other sites

6 minutes ago, gforeman said:

This is the 2 ounce silver proof i literally just bought :D  Ungraded as well obviously

 

kimmy.thumb.jpg.ec5158820a545cd80f383523cb85fce4.jpgs-l1600.jpg

It's funny to see these types of anti US propaganda in coins, posters, programs, etc. Once one's able to get their emotions under control and see past the crazy message, these types of pieces are very interesting imho. 

Edited by 999magnum
Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...

Cookies & terms of service

We have placed cookies on your device to help make this website better. By continuing to use this site you consent to the use of cookies and to our Privacy Policy & Terms of Use