my guess is this is a fake 1/4 YANG, Korea 1898 [solved]

Hi everyone, as I was looking through the site, it list's two very similar 1/4 Yang coins, one minted by Korea, and I beleive one minted by Japan and approved for circulation by the Korean government, but I think mine is a third version, a fake, because it looks a little different than both examples on the site, but I just would like conformation of my thoughts
Please pay no attention to the terrible cropping I did
It weighs 4.68 grams, 21 millimeters https://en.numista.com/catalogue/pieces24480.html and https://en.numista.com/catalogue/pieces35116.html
Thanks in advance

I would say the material used should be copper nickel instead of copper?

Sorry about that, it is not copper , it appears to be copper nickel, my lighting gave it a yellow red look, but as far as the detail
Here is what I noticed , the dragons appear to have more detail or slightly different detail, the claws are a bit different along with the scales and on the back the ribbon on the bottom does not look like either example on the site, a bit different, same with the flowers, too much different detail in my perspective, but I am not in any stretch an expert on Korean coin varieties, or fake Korean coins for that matter

One more thing I noticed, the obverse looks closer to the KM# 1118 based on how the scales on the dragon look, and the reverse looks closer to the KM# 1117, based on where the ribbon placement is, but it is still a bit different as far as the tails of the ribbon

Thank you so much for looking!

Hi all,

1898 1/4 Yang are quite a headache. They came in the context of Japan shipping countermarked 1 yen (https://en.numista.com/catalogue/pieces135906.html) to circulate in Korea equivalent to the Korean 5 yang/1 whan, which were scarce. Japanese acceptance of these coins at falling bullion value, and the fact that this coin became the bulk of coinage circulating in Korea, alarmed the Korean government and prompted them to ban circulation of countermarked 1 yen in 1898 as well as significantly increase output of 1/4 yang. To strike as many 1/4 yang as possible--especially considering the government profited from striking of the coin--the government rented out dies, machinery and licenses for private production. This was a very lucrative business, as the coins cost around 5 fun to produce and had a face value of 25 fun (seignorage thus being 20 fun). Naturally, counterfeiters and illicit production began springing up; some people even stole dies from the Mint.

Furthermore, the Japanese realized that they could profit off of the chaotic situation and began striking their own 1/4 yang illicitly, as well as sending dies to Japanese residents in Korea for illicit production (this was possible because the Japanese had started the milled coin business in Korea and sent dies from the Osaka Mint in Japan). Japan did not officially strike coins for approved circulation in Korea. All of this led to a situation where different types/variations obviously exist, but counterfeits and private productions cannot be distinguished from Mint-struck specimens of the coin with any large degree of confidence. By 1905, some 400 million 1/4 yang coins were in circulation. Though many sources state that the Korean Empire officially "declared all counterfeits legal tender," I could not find any evidence for this and it seems more likely that the government just left coins to circulate because of the lack of distinguishability and the huge numbers already in circulation--sifting through huge sums of coin and picking out counterfeits would cost time and money, neither of which the Korean government had.

The numista listings for KM 1117 and 1118 at the moment are wrong. I am pushing for a change, but per the KM definitions, 1118 is distinguished by an obverse circle of 80 beads--"large circle." There are many, many variations of 1117, so much so that I disagree with the assignation of #1118 for the one variant. I am currently working on identifying the different variants of the coin and trying to make some delineation between the counterfeits, private productions and official strikes. Your coin is simply another variation of KM 1117, one of the more common ones per examples I've seen. It doesn't look to be a fake (there are some really bad contemporary counterfeits out there, such as this one that I own: https://imgur.com/a/GTBFtft), but is most likely a private production.

Thank you so much!
For me it’s about correctly identifying, value is not that important to me, I just love learning more about the coins I am caring for

interesting topic. thanks iflysfo, for the story.

I like your statement "...the coins I am caring for."

Hi all, 

 

Several years later, I've decided to make my own ¼ yang variety guide as none exist. It's up on my blog where I cover the history of late modern Korean coinage, and I'll be talking about the historical context of the coin in the coming weeks. 

 

Have a look here, and try to identify OP's coin. 

 

https://arirangnumismatics.wordpress.com/2025/11/22/numismatic-analysis-iv-%C2%BC-yang-1898/ 

iflysfo

Hi all, 

 

Several years later, I've decided to make my own ¼ yang variety guide as none exist. It's up on my blog where I cover the history of late modern Korean coinage, and I'll be talking about the historical context of the coin in the coming weeks. 

 

Have a look here, and try to identify OP's coin. 

 

https://arirangnumismatics.wordpress.com/2025/11/22/numismatic-analysis-iv-%C2%BC-yang-1898/ 

Wow ! you really put in some research on this, based on your findings, it appears my example is die pair # 9 and # 11, I think that is as close as I can find. Thank you!

Thanks for having a look! Your example is actually Obverse 10, Reverse 9 (Group D; 113.98.10.9). 

 

Obverse: 

Left dragon has a noticeably short mouth and three pairs of scales on front leg. The right dragon has a convex mane at the end of the tail. 

 

Reverse: 

The style of 分 is quite spiky, and like many (but not all!) reverse 9s, the extreme end of the left branch at the bottom (coming off the bow) is blunt because it's been broken.  

iflysfo

Thanks for having a look! Your example is actually Obverse 10, Reverse 9 (Group D; 113.98.10.9). 

 

Obverse: 

Left dragon has a noticeably short mouth and three pairs of scales on front leg. The right dragon has a convex mane at the end of the tail. 

 

Reverse: 

The style of 分 is quite spiky, and like many (but not all!) reverse 9s, the extreme end of the left branch at the bottom (coming off the bow) is blunt because it's been broken.  

Cool I will make a note of that on my coin holder, are you going to add your info into the Numista pages?

Good work! I love to see new scholarship in our field.

Thanks all! Still trying to figure out how, if at all, I’ll get this on numista. But definitely hope it’s better than the existing “guide” to KM-1117/1118 (which is wrong 🤣)

Excellent work you did there, l had no idea there were so many variations. The rarest date for the ¼ yang is year one 1897, l have one of the few known examples l bought in the 1960's and discovered on WoC that it's a rare date that all Korean coin collectors are seeking.

Vic65

Excellent work you did there, l had no idea there were so many variations. The rarest date for the ¼ yang is year one 1897, l have one of the few known examples l bought in the 1960's and discovered on WoC that it's a rare date that all Korean coin collectors are seeking.

Thanks! It is indeed quite a mess 😅

 

Based on research of primary documents and auction records, I'd say 1900/1901 are actually the rarest dates. I saw maybe 2 of each tops after days of filtering through auction records. 1897 seems to have a few more surviving specimens, but arguably would be in higher demand as it's the only coin to be issued with the “first” year (光武元年). 

Here is my very rare 1897  year one ¼ yang, https://www.zeno.ru/showphoto.php?photo=108617

Hi all, 

 

Sharing my latest research on the “Currency Adjustment Project,” which withdrew and demonetized our beloved ¼ yang nickels between 1905 and 1911: 

 

https://arirangnumismatics.wordpress.com/2026/02/12/12-the-currency-adjustment-project/ 

iflysfo

Hi all, 

 

Sharing my latest research on the “Currency Adjustment Project,” which withdrew and demonetized our beloved ¼ yang nickels between 1905 and 1911: 

 

https://arirangnumismatics.wordpress.com/2026/02/12/12-the-currency-adjustment-project/ 

Very interesting to read, how often have you encountered ¼ yang 1897 year one in your research?

Vic65

iflysfo

Hi all, 

 

Sharing my latest research on the “Currency Adjustment Project,” which withdrew and demonetized our beloved ¼ yang nickels between 1905 and 1911: 

 

https://arirangnumismatics.wordpress.com/2026/02/12/12-the-currency-adjustment-project/ 

Very interesting to read, how often have you encountered ¼ yang 1897 year one in your research?

Very rarely. I’ve actually never seen them in person, just analyzed PCGS trueviews and photos in auction listings. The trouble is that so few were produced to begin with, and 1898s are overwhelmingly common…

iflysfo

Vic65

iflysfo

Hi all, 

 

Sharing my latest research on the “Currency Adjustment Project,” which withdrew and demonetized our beloved ¼ yang nickels between 1905 and 1911: 

 

https://arirangnumismatics.wordpress.com/2026/02/12/12-the-currency-adjustment-project/ 

Very interesting to read, how often have you encountered ¼ yang 1897 year one in your research?

Very rarely. I’ve actually never seen them in person, just analyzed PCGS trueviews and photos in auction listings. The trouble is that so few were produced to begin with, and 1898s are overwhelmingly common…

l have had several Korean collecfors after it in recent years, l have owned it since the 1960's but had no idea the date was rare.

 l decided to put it on Heritage auctions who were eager to sell it as they had only ever had one of this date before and it went for $14,000  although in mint condition compred to mine. They insisted it was graded and encapsulated by ngc and when l contacted them they said  1897 is not the rarest date at all. Needless to say l decided they were not uo to the job and the coin remains in my trays 

Vic65

iflysfo

Vic65

iflysfo

Hi all, 

 

Sharing my latest research on the “Currency Adjustment Project,” which withdrew and demonetized our beloved ¼ yang nickels between 1905 and 1911: 

 

https://arirangnumismatics.wordpress.com/2026/02/12/12-the-currency-adjustment-project/ 

Very interesting to read, how often have you encountered ¼ yang 1897 year one in your research?

Very rarely. I’ve actually never seen them in person, just analyzed PCGS trueviews and photos in auction listings. The trouble is that so few were produced to begin with, and 1898s are overwhelmingly common…

l have had several Korean collecfors after it in recent years, l have owned it since the 1960's but had no idea the date was rare.

 l decided to put it on Heritage auctions who were eager to sell it as they had only ever had one of this date before and it went for $14,000  although in mint condition compred to mine. They insisted it was graded and encapsulated by ngc and when l contacted them they said  1897 is not the rarest date at all. Needless to say l decided they were not uo to the job and the coin remains in my trays 

Unfortunately TPGs are severely under-educated when it comes to Korean coins. They struggle most with the Krause 1117/1118 distinction, though most of the area is seemingly difficult for them. 
 

Rampant strikes of the ¼ yang only began in 1898. 1897-dated pieces are the second-most common, but with a huge difference in # of pieces minted and # of survivors (~350,000 in 1897 vs a whopping 330 million in 1898, not even including the ~130 million counterfeits). I’ve seen maybe a handful of 1897s…1901 is by far the most rare. 

iflysfo

Vic65

iflysfo

Vic65

iflysfo

Hi all, 

 

Sharing my latest research on the “Currency Adjustment Project,” which withdrew and demonetized our beloved ¼ yang nickels between 1905 and 1911:

 

Rampant strikes of the ¼ yang only began in 1898. 1897-dated pieces are the second-most common, but with a huge difference in # of pieces minted and # of survivors (~350,000 in 1897 vs a whopping 330 million in 1898, not even including the ~130 million counterfeits). I’ve seen maybe a handful of 1897s…1901 is by far the most rare. 

That makes no sense, I can find several 1901 ¼ yang instantly and probably more if I search, now you try and find me a single 1897 example

Vic65

iflysfo

Vic65

iflysfo

Vic65

iflysfo

Hi all, 

 

Sharing my latest research on the “Currency Adjustment Project,” which withdrew and demonetized our beloved ¼ yang nickels between 1905 and 1911:

 

Rampant strikes of the ¼ yang only began in 1898. 1897-dated pieces are the second-most common, but with a huge difference in # of pieces minted and # of survivors (~350,000 in 1897 vs a whopping 330 million in 1898, not even including the ~130 million counterfeits). I’ve seen maybe a handful of 1897s…1901 is by far the most rare. 

That makes no sense, I can find several 1901 ¼ yang instantly and probably more if I search, now you try and find me a single 1897 example

Here is an 1897 I found on Heritage: https://coins.ha.com/itm/korea/korea-kuang-mu-copper-nickel-1-4-yang-year-1-1897-/a/3015-24503.s?ic4=OtherResults-SampleItem-022817&tab=SearchResults-120115 

 

And a 1901: https://coins.ha.com/itm/korea/korea-kuang-mu-copper-nickel-1-4-yang-year-5-1901-/a/3015-24507.s?ic4=OtherResults-SampleItem-022817&tab=SearchResults-120115 

 

One issue I ran into during my variety census is that many 1898 coins (光武二年) on the internet are misattributed as 1901 (光武五年), since 1901 was the final dated year. That can inflate the apparent number of 1901s in listings.

 

For instance, even the National Museum of American History has an 1898 cataloged as 1900:
https://americanhistory.si.edu/collections/object/nmah_1846223

 

Of course, market availability doesn’t always reflect actual mintage or survivorship. If you’ve located additional confirmed 1901 examples, I’d be glad to review them.

iflysfo

Vic65

iflysfo

Vic65

iflysfo

Vic65

iflysfo

Hi all, 

 

Sharing my latest research on the “Currency Adjustment Project,” which withdrew and demonetized our beloved ¼ yang nickels between 1905 and 1911:

 

Rampant strikes of the ¼ yang only began in 1898. 1897-dated pieces are the second-most common, but with a huge difference in # of pieces minted and # of survivors (~350,000 in 1897 vs a whopping 330 million in 1898, not even including the ~130 million counterfeits). I’ve seen maybe a handful of 1897s…1901 is by far the most rare. 

That makes no sense, I can find several 1901 ¼ yang instantly and probably more if I search, now you try and find me a single 1897 example

Here is an 1897 I found on Heritage: https://coins.ha.com/itm/korea/korea-kuang-mu-copper-nickel-1-4-yang-year-1-1897-/a/3015-24503.s?ic4=OtherResults-SampleItem-022817&tab=SearchResults-120115 

 

And a 1901: https://coins.ha.com/itm/korea/korea-kuang-mu-copper-nickel-1-4-yang-year-5-1901-/a/3015-24507.s?ic4=OtherResults-SampleItem-022817&tab=SearchResults-120115 

 

One issue I ran into during my variety census is that many 1898 coins (光武二年) on the internet are misattributed as 1901 (光武五年), since 1901 was the final dated year. That can inflate the apparent number of 1901s in listings.

 

For instance, even the National Museum of American History has an 1898 cataloged as 1900:
https://americanhistory.si.edu/collections/object/nmah_1846223

 

Of course, market availability doesn’t always reflect actual mintage or survivorship. If you’ve located additional confirmed 1901 examples, I’d be glad to review them.

I did point out that Heritage had only ever seen one 1897 ¼ yang before which is indeed the one you show the link to, seller wants $19,000 for it as he paid             

$15000 plus fees. Therefore my claim that 1897 must be the rarest date still stands. NGC claimed 1904 was rarest

 Here's a couple listed as 1901 but i don't know the correct date symbol so can you advise

https://www.ricardo.ch/de/a/china-1901-1-4-yang-muenze-selten-rare-km-1117-original-1260138668/?srsltid=AfmBOoqAtJI5IRHBkgHZ82posWpiNGaid_XzTayeE3eEThdDhsl8Rq28

 

https://oldthing.de/1-4-Yang-Silber-M-nze-Korea-1901-ss-KM-1117-154680-0052127665

Vic65

iflysfo

Vic65

iflysfo

Vic65

iflysfo

Vic65

iflysfo

Hi all, 

 

Sharing my latest research on the “Currency Adjustment Project,” which withdrew and demonetized our beloved ¼ yang nickels between 1905 and 1911:

 

Rampant strikes of the ¼ yang only began in 1898. 1897-dated pieces are the second-most common, but with a huge difference in # of pieces minted and # of survivors (~350,000 in 1897 vs a whopping 330 million in 1898, not even including the ~130 million counterfeits). I’ve seen maybe a handful of 1897s…1901 is by far the most rare. 

That makes no sense, I can find several 1901 ¼ yang instantly and probably more if I search, now you try and find me a single 1897 example

Here is an 1897 I found on Heritage: https://coins.ha.com/itm/korea/korea-kuang-mu-copper-nickel-1-4-yang-year-1-1897-/a/3015-24503.s?ic4=OtherResults-SampleItem-022817&tab=SearchResults-120115 

 

And a 1901: https://coins.ha.com/itm/korea/korea-kuang-mu-copper-nickel-1-4-yang-year-5-1901-/a/3015-24507.s?ic4=OtherResults-SampleItem-022817&tab=SearchResults-120115 

 

One issue I ran into during my variety census is that many 1898 coins (光武二年) on the internet are misattributed as 1901 (光武五年), since 1901 was the final dated year. That can inflate the apparent number of 1901s in listings.

 

For instance, even the National Museum of American History has an 1898 cataloged as 1900:
https://americanhistory.si.edu/collections/object/nmah_1846223

 

Of course, market availability doesn’t always reflect actual mintage or survivorship. If you’ve located additional confirmed 1901 examples, I’d be glad to review them.

I did point out that Heritage had only ever seen one 1897 ¼ yang before which is indeed the one you show the link to, seller wants $19,000 for it as he paid             

$15000 plus fees. Therefore my claim that 1897 must be the rarest date still stands.

 Here's a couple listed as 1901 but i don't know the correct date symbol so can you advise

https://www.ricardo.ch/de/a/china-1901-1-4-yang-muenze-selten-rare-km-1117-original-1260138668/?srsltid=AfmBOoqAtJI5IRHBkgHZ82posWpiNGaid_XzTayeE3eEThdDhsl8Rq28

 

https://oldthing.de/1-4-Yang-Silber-M-nze-Korea-1901-ss-KM-1117-154680-0052127665

I'm not disagreeing with you that 1897 is rare; it's definitely one of the scarcest issues of late modern Korean coins! But unfortunately those two listings you shared are 1898 (光武二年) coins misattributed as 1901 (光武五年), a common issue I've found all over the internet be it an actual error or unscrupulous practice 😃

 

The claim by NGC is inherently wrong, as while coins were indeed struck through 1904, they were not dated past 1901 (1902-1904 issues were dated 1898). 

 

Hence, coins actually dated 1901 are to be considered at least equally as rare as those dated 1897.