Catalog
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| Issuer | Central Bank of the Democratic People's Republic of Korea |
|---|---|
| Year | 2001 |
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| Shape | Round |
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| Obverse description | Central field displays the State Emblem of the Democratic People's Republic of Korea, comprising a hydroelectric dam and power station set before Mount Paektu, framed by a wreath of ears of grain bound with a ribbon at the base, and surmounted by a five-pointed star radiating sunbeams. Decorative floral scrollwork flanks the lower field on either side. The circular legend 조선민주주의인민공화국중앙은행 (Central Bank of the Democratic People's Republic of Korea) runs along the upper periphery in Hangul script, while the denomination 1 원 appears prominently at the bottom of the field. |
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| Reverse lettering | 경애하는 수령 김일성동지 1912 1994 주체90 (2001) |
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| Additional information |
Issued the year North Korea formally enshrined the Songun — "military-first" — policy into state doctrine, this brass piece was produced for a collector market that Pyongyang had been cultivating since the 1970s as a hard currency revenue stream. The DPRK's numismatic export program, run through state trading companies, generated foreign exchange at a time when the country was emerging from the catastrophic famine of the late 1990s that killed an estimated 600,000 to one million people.
Domestic circulation of this denomination was largely notional by 2001; the won's purchasing power had collapsed so thoroughly that informal markets denominated transactions in Chinese yuan and U.S. dollars.