KOMSCO which is short for “Korean Minting Security Printing and ID Card Operating Corporation” is headquartered in the metropolis of Daejon, South Korea. The company is owned by the government and as such they also produce passports, other ID cards, stamps, and the “Won” which is the official currency of South Korea.
They’re also responsible for minting gold and silver medals or bullion. As of such a new 1 oz silver coin was produced for the island of Niue in 2020, which is situated in Polynesia of which Queen Elizabeth the Second is the Head of State.
This newest 1 oz Brilliant Uncirculated silver coin was dubbed “Lucky Coin” which is also shown in text on the slot machine on the reverse side.
Four leaf clovers and horseshoes have been added to the design to increase YOUR luck on these coins.
How can’t you be “Always Winner” like the lettering states on the top of the reverse ?
There is some debate that the top lettering actually should have said :
- Always a Winner ;
- Always Winning ;
This makes sense because it’s more correct, but in the end the coins were produced with the text saying “Always Winner”. It could be that this makes up 12 letters which is considered to be more lucky than 13 letters in the example of “Always a Winner” or “Always Winning”.
Or it could be that the designers didn’t carry out a proper enquiry about what the “correct spelling” should be, but it’s more likely that there’s a thought behind it.
The Lucky Coin is set at a limited mintage figure of 25.000 pieces and comes with a certificate of authenticity which was also a entry into the lottery for a 5 oz gold coin first held on the 28th of March of 2020.
The purity is 999/1000 and the denomination $2 with the effigy of Queen Elizabeth the Second decorating the obverse side.
Is the 2020 Lucky Coin a Scam ???
Many people that bought the 2020 Lucky Coin were wondering this when the first drawing was held on the 28th of March 2020.
The reason for this being that the winning number that was drawn didn’t come close to any of the numbers that were sold worldwide.
The winning number was 10541, but there had been only sold about 7.000 pieces at the time with an according Certificate of Authenticity number ranging from 1 to about 7.000.
Winning number 10541 drawn 28 March 2020.
This means that the winning Lucky coin with according Lucky number wasn’t sold yet.
Or that the company who did the drawing knew about this and on purpose drew a winning number that wasn’t in the sold number range worldwide.
On the 24th of April an update was put out by Today Limited which stated that up to that date 7,175 pieces had been sold, and that the other 17,825 Lucky coins weren’t available anymore.
Update given by Today Limited on the 24th of April 2020.
Meaning that in reality out of the proposed 25,000 pieces only 7,175 Lucky coins are in circulation globally. A motivation for this could be that neither 25,000 pieces were produced from the start, or that the Mint had recalled the remaining Lucky coin to be remelted for the 2nd series of the Lucky coin.
The 5 oz gold coin that didn’t have a winner for the 1st Lucky coin series is moved to the 2nd series of the Korean Lucky coin.
The 5 oz gold coin that was the prize for the 1st Lucky Coin series, is added to the prize for the 2nd Lucky Coin series.
In this way the winning number of a future 2nd series not only wins one 5 oz gold coin, but also the one from the first series totaling 10 ounces of gold.
It’s impossible to state for sure that the Korean Lucky Coin Series is a “scam” since it’s an official government owned company and there’s no factual evidence of “irregularities”.
But it could’ve been a fairer lottery if a winning number was drawn from only the numbers that were sold. In other words from the range of 1 – 7,175 and not out of a range of 1 – 25,000.
In that way the Korean Mint and Today Limited wouldn’t have the controversy that’s now surrounding the Lucky Coin Series, and could impact future sales in a negative way because of the feelings regarding the first Lucky Coin lottery.