Issued to mark the 50th anniversary of the Republic of Korea's founding, this piece arrived during one of the country's most acute financial crises — the IMF bailout year, when South Korea received a $58 billion emergency loan package and the won collapsed against the dollar. The government simultaneously ran a national gold-collection campaign, asking citizens to donate jewelry and personal gold reserves to shore up foreign exchange. Striking a silver commemorative while the public surrendered wedding rings to the state was not without irony.
Issued to mark the 50th anniversary of the Republic of Korea's founding, this piece arrived during one of the country's most acute financial crises — the IMF bailout year, when South Korea received a $58 billion emergency loan package and the won collapsed against the dollar. The government simultaneously ran a national gold-collection campaign, asking citizens to donate jewelry and personal gold reserves to shore up foreign exchange. Striking a silver commemorative while the public surrendered wedding rings to the state was not without irony.