As the economy started to recover after the Korean War with prices stabilizing, Bank of Korea issued coins to cut currency manufacturing costs and make small-value transactions easier. For the first time since the founding of the Bank, it issued hwan-denominated coins in three denominations (100-hwan, 50-hwan, and 10-hwan) in October 1959. These coins were produced at the Philadelphia Mint in the United States due to the lack of coin-making technologies. A picture of Korean President Rhee Syng-man was chosen as the design theme for the 100-hwan coins. There was the famous turtle warship, Geobukson, on the 50-hwan coins and a Korean hibiscus, Mugunghwa, on the 10-hwan coins.