won en penny
Tuesday, December 12th, 2006one thing i really like about traveling to foreign countries is endlessly being fascinated by foreign currency, and the thrill of trying to figure what i’m about to buy is a good deal or not by doing some quick and dirty(really dirty) conversions in my head.
i guess that’s why i don’t like the euro, because it replaced many a colorful moneys in europe, like deutsch mark. alhtough i have to say, i really like the idea of each issuing countries’ coin having a unique tails. i think the heads are all the same. also, unlike, say american dollar(which these days are turning into a hideous multi-colored hippie tie-dye colors), different denominations of euro bills have different sizes. i suppose they did this, despite the fact that they don’t neatly all line up in a wallet, so that a blind person can use it.
as we all know, japanese currency is the yen. it bugs me when people pronounce it “yen”. it’s really pronounced “en”, isn’t it? what i want to know is where the deuce the japanese banks had the idea of calling something “yen” when it’s pronounced “en”. same thing with “yebisu”. what the? is it not pronounced “ebisu”?
korean currency is, of course, “won”, pronounced… uh, “one”, as you’d expect. so that’s good. on the other hand, the largest cash bill in korea is the 10,000 won note. all good and fine, as japan is the same with 10,000 en (i refuse to spell it with a “y”). the thing is, 10 won is roughly equivalent to a 1 en, or 1 cent. or 2.5 pfennig or .95 euro or 23.5 clams. anyway, that means that the largest bill in circulation in korea is roughly equivalent to about 10 bux. or 1000 en. this causes a headache because when you go to exchange some currency in a korean bank, you are usually handed a thick wad of cash notes. i usually ask for an envelope, as this stack of papers would surely bust my wallet.
psychologically speaking, it feels rich to be carrying such a large sum around. on the other hand, you have to carry a rather large number of said notes, so my question to you, korean central bank, is: “why don’t you print some 100,000 won notes!”
i bring this lament to people i know in korea, and they usually just shrug and say “hey, that’s just the way it is, pal.” thankfully, debit cards and credit cards are pretty much accepted everywhere, unless you’re trying to buy some squid on the street. then it’s time to bust out your fat wad of bills, daddy warbucks.
in what seems like an exercise in futility, korean central bank(mint) is releasing brand new 10 won (approximate value: squat) soon. i can hardly contain my glee. it’d be akin to american mint releasing brand new pennies. gee, how about this, korea. instead of new 10 won coins, start releasing 1000 won coins. it’d be perfect for vending machines, although, in that area, i think japan outnumbers korean vending machine’s population by about 100 to 1.
on the other hand, it’s really easy to be a millionaire in korea. all you need is roughly 1000 bucks, and there you are.

new 10 won coin. now it even looks like an american penny. useful for making jangly noises in your pants. and not much more.















