On the 200 won of the 2008 design Chollima gallops again, the winged horse of the Pyongyang equestrian statue, the same one that appeared on the ten won of 1978. Beside it are a stylised atomic energy symbol and the state emblem; the back is ornamental.

The note belongs to the series with which North Korea replaced its old money in the redenomination of 30 November 2009: the denominations from 100 to 5000 won are dated 2008, and the lower ones 2002. Held up to the light, the paper shows a watermark of Siebold’s magnolia blossoms.

This piece is a specimen: such notes carry a special marking and are prepared for reference, not for payment.

For a North Korea collection the note links the 2009 series to the 1978 issue through the same monument. UNC condition means the note has never circulated: no folds, no wear, no soiling, even corners — just as it left the press.

A banknote from the VPcoins catalogue is a gift that is interesting to examine and has a story worth telling.