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Korean Empire
Han River Bank
Octagonal Silver Ingot
大韓帝國
漢江銀行
八邊形銀錠
Item number: A1420
Year: AD 1897-1910
Material: Silver
Size: 20.3 x 20.0 x 4.9 mm
Weight: 15.9 g
Provenance:
1. Stack’s Bowers 2024
2. Stephen Album Rare Coins 2024
3. Charles Opitz Collection
This is an octagonal silver ingot, believed to have been issued during the Korean Empire period (AD 1897–1910) by a financial institution named Han River Bank (Hangang Eunhaeng). At the centre of the ingot is a taegeuk symbol, representing the Korean national emblem, flanked on either side by the trigrams Kun (☷) and Qian (☰) from the Eight Trigrams (Bagua). The upper edge of the ingot features the four Chinese characters “漢江銀行” (Han River Bank), while the lower edge is inscribed with the country name “KOREA” in English. The reverse side of the ingot is undecorated.
In AD 1897, King Gojong of the Joseon Dynasty ended his period of refuge at the Russian Legation and proclaimed the establishment of the Korean Empire, adopting the reign title Gwangmu and declaring himself emperor in an effort to assert autonomy amidst the competing influences of neighbouring powers, Japan and Russia. During the Gwangmu era, the Korean Empire vigorously pursued modernisation reforms, with one of the most notable achievements in the economic sector being the establishment of the central bank, the Bank of Korea, which was tasked with issuing the national currency, the Korean Won .
In addition to the central bank, private financial institutions such as the Hanseong Bank, founded by Kim Jeong-han, also emerged. The issuing entity of this silver ingot, the Han River Bank, is believed to have been one of the private financial institutions established during this period. Despite the Korean Empire’s efforts to counter Japan’s growing influence through reforms, these attempts ultimately failed. In AD 1910, the empire was annexed by Japan. Following the annexation, the Bank of Korea was reorganised into the Bank of Joseon, which became the highest financial authority in the colony, responsible for issuing the Korean Yen.