Superconducting flux pumps enable large currents to be injected into a superconducting circuit, without the requirement for thermally conducting current leads which bridge between the cryogenic environment and room temperature. In this work, we have built and studied a mechanically rotating flux pump which employs a coated conductor high-T-c superconducting (HTS) stator. This flux pump has been used to excite an HTS double pancake coil at 77 K. Operation of the flux pump causes the current within the superconducting circuit to increase over time, before saturating at a limiting value. Interestingly, the superconducting flux pump is found to possess an effective internal resistance, R-eff, which varies linearly with frequency, and is two orders of magnitude larger than the measured series resistance of the soldered contacts within the circuit. This internal resistance sets a limit for the maximum achievable output current from the flux pump, which is independent of the operating frequency. We attribute this effect to dynamic resistance within the superconducting stator wire which is caused by the interaction between the DC transport current and the imposed alternating magnetic field. We provide an analytical expression describing the output characteristics of our rotating flux pump in the high frequency limit, and demonstrate that it describes the time-dependent behavior of our experimental circuit. Dynamic resistance is highlighted as a generic issue that must be considered when optimizing the design of an HTS flux pump. (C) 2014 AIP Publishing LLC.