1991-P $1 Korea, DCAM (Proof)

1991-P Korean War Memorial Silver Dollar

The 1991-P Korean War Memorial Silver Dollar (MS #9652, PR #9653) was issued to commemorate the 38th anniversary of the Korean Armistice Agreement, signed on July 27, 1953. This agreement ended three years of conflict between the communist North, led by Kim Il Sung, and the South, led by Syngman Rhee.

Authorized by Public Law 101-495, the U.S. Mint produced these coins to fund the construction of the Korean War Veterans Memorial in West Potomac Park, Washington, D.C.

The First Strike Ceremony

The official ceremony took place on May 6, 1991, at the Philadelphia Mint. Treasurer of the United States Catalina Vasquez Villalpando introduced the coin alongside Mint Director Donna Pope and General Richard Stilwell.

In a moving tribute, the first coins were struck by representatives from a wide array of veterans' organizations, including the Veterans of Foreign Wars (VFW), Disabled American Veterans, and the Korean War Veterans Association.

Design Elements

The coin features a collaboration between two of the Mint's most famous engravers:

• Obverse (John Mercanti): A dynamic scene depicting a soldier charging up a hill, flanked by naval ships and F-86 Sabre aircraft. It features the dual date 1953–1991 and eight stars representing the anniversary.
• Reverse (T. James Ferrell): A map of the Korean Peninsula divided at the 38th parallel. North Korea is distinguished by diagonal hatching, while South Korea features the Taegeuk (the symbol of cosmic balance). An American bald eagle is positioned to the right.

The "Yin-Yang" Controversy

Following the coin's release, a letter published in Coin World claimed the Taegeuk was a "Satanic" symbol. This was quickly dismissed by historians and numismatists; the symbol is a foundational element of the South Korean flag and has been a part of Korean culture for centuries.

Collecting the 1991-P Korean War Memorial Silver Dollar Proof

In Original Government Packaging and up to PCGS PR69DCAM, the 1991-P Korean War Memorial Silver Dollar Proof sells for a small premium over prevailing spot price. In PR70DCAM, coins trade for around $100 each.

While most of the 618,488 Proof coins produced are common, there is a significant "treasure" for collectors to watch for:

• The Rotated Reverse Error: In 2008, a collector discovered an 18-year-old 1991-P Proof with a 90-degree rotated reverse. Because Proof coins are struck under strict quality control, such errors are incredibly rare. To date, only a few examples are known, and they can trade for over $1,000.

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