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| Issuer | Central Bank of the Democratic People's Republic of Korea |
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| Year | 1997 |
| Type | Non-circulating coin |
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| Obverse description | The state arms of the Democratic People's Republic of Korea occupy the central field, depicting the Paektu Mountain landscape with a hydroelectric dam, framed by sheaves of rice bound with a red ribbon and surmounted by a five-pointed star radiating rays of light. A Hangul legend curves along the upper periphery, reading the full name of the issuing state. In the lower field, flanked by stylised laurel sprigs, the fineness designation '999 Ag 1oz' appears above the date '1997'. |
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| Obverse lettering | 조선민주주의인민공화국중앙은행 999 Ag 1 oz 1997 (Translation: Central Bank of the Democratic People's Republic of Korea) |
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| Additional information |
North Korea's panda coinage from the late 1990s was produced almost entirely for export sale, never intended to circulate domestically. The DPRK began issuing collector coins through foreign distributors in the 1980s as a hard currency mechanism, with pieces like this routed through dealers in Germany, Austria, and Japan. The program had no domestic numismatic audience — it was purely a foreign exchange instrument during a period when the country was in the grip of a famine that killed an estimated 240,000 to 3.5 million people.
KM#138 shares its panda subject with Chinese Mint issues, a deliberate commercial decision to attract buyers already familiar with the popular Chinese Panda series.