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This currency was issued in all banknote form, with the first banknotes of this issue in denominations of 15, 20, and 50 chon along with 1, 5, 10 and 100 won in 1947.

The chon notes had stylized art designs while the won denominations were fairly uniform in design featuring a farmer and a worker standing together and holding the symbolic tools.

Most, if not all of them are sold to foreign numismatists.

Some of these are official, state approved coins, others are not.

Coins were issued in 10, 50 chon and 1 won denominations in 2002 and 1 and 5 chon denominations in 2008. These coins feature the national coat of arms on the obverse and flowers, particularly the Kimjongilia and the Kimilsungia, on the reverse of the 10 and 50 chon. Initially struck in 2002, the coins were intended for use shortly after the dollar peg was removed from the currency.

The 50 chon and 1 won were smaller than the previous designs, while the new 10 chon was the same size as the old.

After 2003, these coins were rarely seen in circulation but were still redeemable.

Later, a new set of coins was introduced in 2005 in denominations of 5, 10, 50, and 100 won.

Issued in 1983, these coins were part of the "Pakkundon" convertible series.; symbol: ₩; code: KPW) or Korean People's won is the official currency of North Korea. The won is issued by the Central Bank of the Democratic People's Republic of Korea, based in the capital city, Pyongyang.North Korean won are intended exclusively for North Korean citizens, and the Bank of Trade (무역은행) issued a separate currency (or foreign exchange certificates) for visitors, like many other socialist states.The specimen/example set is the least common of the four.

Besides the general circulating coins, there are an abundance of different commemorative coins minted in the name of the DPRK.

However, the prices in the normal shops outside the tied won and restricted state shops are also based on this untied won rate.