You’re staring at a small, reddish-bronze coin you found in the bottom of a travel bag. Or maybe you're looking at a digital wallet balance after a tiny transaction fee in Seoul. It says 10 won. Naturally, you want to know what that actually buys you.
The short answer? Basically nothing.
To be precise, 10 won in usd is currently worth about $0.007. That’s not seven cents. It is seven-tenths of a single American penny. If you found a hundred of these coins on the street, you wouldn’t even have enough to buy a pack of gum in a New York City bodega. Most people just leave them in those "take a penny, leave a penny" trays at Korean convenience stores like CU or GS25.
The Reality of the Korean Exchange Rate
The South Korean Won (KRW) is a high-denomination currency. This confuses travelers from the US or Europe who are used to a 1:1 or 1:1.2 ratio. In Korea, the baseline is usually 1,000.
Think of it this way: 1,000 won is roughly the "psychological dollar." When the exchange rate hovers around 1,350 or 1,400 won to the dollar, your purchasing power shifts, but the 10 won coin remains the smallest physical unit in circulation.
Honestly, the 10 won coin is a bit of a ghost. You’ll see it. You’ll hear it rattling in a cash register. But you can't really spend it alone. Even the cheapest candy in a Korean "stationery store" (mungu-jeom) usually starts at 100 or 500 won these days. Inflation hits hard, even in the Land of the Morning Calm.
A Quick History of the Tiny Bronze Disc
The 10 won coin wasn't always this insignificant. Back in the 1960s, 10 won could actually get you something. A bus fare? Maybe not quite, but it held weight.
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The original coins were made of a copper and zinc alloy. They were heavy. They felt like "real" money. But as the price of raw metals climbed globally, the Bank of Korea realized a hilarious and problematic truth: it cost more than 10 won to mint a 10 won coin.
They were literally losing money to make money.
In 2006, they redesigned the coin. They made it smaller—tiny, actually—and changed the composition to aluminum coated in copper. It’s light. It feels like a toy. If you drop it on a marble floor, it doesn't "clink" so much as it "taps."
What Can You Actually Do With 10 Won in USD?
If we are being completely literal, 10 won in usd is a fraction of a cent.
In the digital world, these tiny amounts show up in "micro-dust" accounts. If you use apps like Toss or Kakao Pay, you might earn 10 won as a reward for walking 10,000 steps or clicking an ad. It feels like a win until you realize you need to do that 140 times just to afford a $1.00 bottle of water.
- Bank Transfers: Some Korean banks require a 1 won or 10 won verification deposit.
- Tax Adjustments: When calculating the 10% VAT in Korea, your total might end in a 10.
- Grocery Stores: Large supermarkets like E-Mart or Lotte Mart still use exact pricing. If your bill is 50,210 won, that 10 won matters.
If you are paying cash, many shopkeepers will just wave it off. They don't want the 10 won coin. You don't want the 10 won coin. It’s a mutual agreement to ignore the "change" for the sake of speed.
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Why the Exchange Rate Fluctuates
The value of the won against the dollar isn't static. It breathes.
When the US Federal Reserve raises interest rates, the dollar gets stronger. The won sags. Suddenly, your 10 won in usd is worth even less than a fraction of a penny. Conversely, when the Korean tech sector—think Samsung, SK Hynix, and Hyundai—is booming, the won can strengthen.
But even in the best economic climate, 10 won is never going to buy you a coffee.
The Psychological Gap
There is a weird phenomenon called "Money Illusion." Travelers see a 10,000 won note and feel rich. "I have ten thousand of these!" then they realize it’s only 7 bucks.
The 10 won coin is the ultimate victim of this illusion. It represents the smallest increment of a currency that has outgrown its own physical coins. There have been persistent rumors and discussions within the Korean government about "redenomination." This would involve chopping zeros off the currency—making 1,000 won become 1 won.
If that happened, 10 won would suddenly become a much larger unit of value. But for now, it remains a souvenir.
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Practical Advice for Travelers and Expats
Don't hoard them.
If you accumulate a pocket full of 10 won coins, you’ll find that most automated vending machines won't even accept them. Most machines start at 100 won or 500 won. Even self-checkout kiosks at convenience stores sometimes struggle with the tiny 2006-model coins because they are so light.
The best thing to do with 10 won? Put it in the donation box at the airport.
Those clear acrylic boxes at Incheon International Airport are filled with 10 won coins. When thousands of people dump their "useless" change, it actually adds up to a significant amount for charities like UNICEF. It’s the only way 10 won actually does any real-world good.
Actionable Steps for Handling Small Korean Denominations
- Use a T-Money Card: This is the gold standard for Korea. It’s a rechargeable touch-card for subways, buses, and taxis. It handles the 10-won increments digitally so you never have to touch a physical coin.
- Check the Daily Rate: Before exchanging large sums, use a reliable tool like XE or Google Finance to see the current trend for 10 won in usd. While 10 won doesn't matter, the rate at which 1,000,000 won converts definitely does.
- Round Up in Markets: If you are at a traditional "market" (sijang), don't bother fishing for 10 won coins. Use 100s or 500s. It’s considered polite not to waste the vendor's time with the smallest coins.
- Keep One as a Gift: The 10 won coin features the Dabotap Pagoda, a National Treasure of South Korea located at Bulguksa Temple. It’s a beautiful piece of art, even if its monetary value is nearly zero.
The 10 won coin is a relic of a different economic era. It is a tiny, copper-colored reminder that value is relative. In the US, a penny is dying. In Korea, the 10 won is already essentially a ghost, living on in digital ledgers and airport donation bins. Use it for what it is: a tiny piece of history, not a way to pay for lunch.