Author Topic: Tanzania: Anger over collectors coin featuring Dokdo  (Read 291 times)

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Offline eurocoin

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Tanzania: Anger over collectors coin featuring Dokdo
« on: September 30, 2019, 10:05:52 AM »
In July, Tanzania issued a collectors coin with a face value of 3,000 shillings featuring the island Dokdo as part of Korea. Dokdo is being claimed by both South Korea and Japan. The coin is made out of 5 ounces of silver and has a mintage of 777 pieces. After recent reporting about this by a South Korean news agency, it has sparked a lot of anger in Japan, with inhabitants demanding their government to take action. South Korean people at the same time asked their national bank to also issue coins featuring Dokdo, before Japan issues such coins. In a press release the Bank of Tanzania has denied having given permission for the production of the coin. That was later also reiterated by the Japanese Minister of Foreign Affairs who had demanded information from the Tanzanian embassy in Japan and the Tanzanian Ministry of Foreign Affairs.

Coin dealer Coin Invest Trust in Liechtenstein, which developed the coin, commented that they did have permission from the Government of Tanzania for the issuance of the coin, that they will discuss this with the Bank of Tanzania and that they would soon publish a press release, which never happened. The coin is part of a coin series called 'The Land of Korea' in which also 2 coins were issued by the Cook Islands.

It is not the first time something like this has happened. In 2005, Uganda issued a coin featuring Dokdo with the inscription "The Island of Korea".

« Last Edit: September 30, 2019, 12:58:31 PM by eurocoin »

Offline Big_M

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Re: Tanzania: Anger over collectors coin featuring Dokdo
« Reply #1 on: September 30, 2019, 12:11:22 PM »
Korean TV news item about the coins (in English)

COINS DESCRIBING DOKDO ISLETS / KBS??(News) - YouTube

Offline eurocoin

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Re: Tanzania: Anger over collectors coin featuring Dokdo
« Reply #2 on: September 30, 2019, 12:16:25 PM »
Personally, I believe that Coin Invest Trust did in fact have a licence for the production of Tanzanian coins and therefore did have (nonexplicit) permission to issue this coin. Whether the Bank of Tanzania was not aware of the fact that they did in fact give permission for the issuance of the coin, or decided it was better to keep that quiet, I do not know.

Offline Big_M

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Re: Tanzania: Anger over collectors coin featuring Dokdo
« Reply #3 on: September 30, 2019, 05:10:22 PM »
It seems that when dealing with CIT the central banks have to give them full control over the choice of topics, and perhaps, are not even informed about designs.

MDM seems to be more transparent with their collaborating central banks, as there is evidence that it provides them with regular updates on the topics covered and coin designs.

Offline eurocoin

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Re: Tanzania: Anger over collectors coin featuring Dokdo
« Reply #4 on: October 02, 2019, 10:42:09 AM »
Reply from a director of Coin Invest Trust: "All of our coins have been approved by the responsible ministries of finance or central banks. We are also not sure what led the Bank of Tanzania to their actions regarding the Dokdo coin but we are working on that".