Do you like these products but wish they would just go ahead and make them legal tender and put a Won denomination on them?
You are not alone, many are wishing that these KOMSCO products would be legal tender coins instead of medallions. I have lived in South Korea for the past decade and here is my theory about the subject.
Once the government of Korea believes that a sovereign legal tender bullion product can be successful in the market place, only then will they allow them to be made.
Right now, the National Bank of Korea is blocking the idea. I believe it has to do with Asian culture and not wanting to be embarrassed on the international stage with a national sovereign bullion product that fails!
With the continued successes of the programs currently under way, Chiwoo, Tiger and ZI SIN, I think they may change their mind and feel it's time to put a Won denomination on the medallion. There has been speculation that when this decision is made, it will be the Korean Tiger that may become the first Korean sovereign legal tender bullion coin!
If they do, imagine how valuable the pre- Won designated medallions would be! Just my thought!