Bank of Korea 1953 1000 Hwan Turtle Ship Banknote Serial 02023976

Bank of Korea 1,000 Hwan (Printed as 1,000 Won) Turtle Ship Banknote – U.S. Printed, 1953

Issuer: Bank of Korea
Printer: U.S. Bureau of Engraving and Printing (BEP)
Date of Issue: February 17, 1953
Withdrawn from Circulation: June 10, 1962 (Third Currency Reform)
Dimensions: 156 × 66 mm
Condition: Very Fine (VF)
Prefix: AA
Design: Turtle Ship (Geobukseon)

Historical Background

This banknote was issued following South Korea's Second Emergency Currency Reform and Financial Measures on February 17, 1953.

Under this reform, all previously circulating currencies—including Bank of Korea won notes, Bank of Joseon notes, and Japanese government-issued currency—were demonetized. At the same time, the official monetary unit was changed from Won (원) to Hwan (환).

However, this particular note had already been ordered and printed in the United States before the reform took effect. As a result, the banknote still bears the denomination "1,000 Won" on its face, even though it was legally issued and circulated as a 1,000 Hwan note.

Because of this unique circumstance, the note is widely recognized among collectors as the "Won-denominated Hwan Note", making it an important and historically significant piece of Korean currency history.

Special Features

• Printed by the U.S. Bureau of Engraving and Printing
• Features the famous Korean Turtle Ship design
• Rare transitional issue between the Won and Hwan currency systems
• Officially circulated as a Hwan note despite displaying a Won denomination
• Highly collectible historical Korean banknote

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