Chinese coin price went high again in Shanghai Hosane auction this week
jt88 Posts: 2,503 ✭✭✭✭✭
There were 21.8k people watching Shanghai Hosane coin live auction this week. That’s lots of people watching for an auction. No wonder some of the price went so high. This makes me wonder how many people will watch up coming SB April Hongkong auction since SB is the number one player in Chinese coin auction in the US.
This copper coin sold for $186000 USD in December 2021 at SB auction. It got crossed to PCGS SP62. It just sold for 16675000 RMB at Shanghai Hosane auction March 13. 2023, about $238214 USD. Price increased about 25% in less than three years.
Generally speaking Chinese rare coin price is very high and it might keep going higher in the future. Common coins price are stay the same or little lower in this auction.
One can say the same for all rare coins, no matter the issuing country.
All rare coins continue to increase in price while the common ones trend lower. Of course, the trend is more obvious here because China simply has more people in absolute numbers.
I wonder about mexican 8 reales
1824-1897 and if that market is heading up the way it did in 2021 …..or not ?
I give away money. I collect money.
I don’t love money . I do love the Lord God.
Well the common Chinese coin price has already up at least 3 times in the past couple years. I am pretty sure many other countries coin did not move up that much in the past couple years. For example one of the most common coin 1935 junk boat ms65 was about 700 few years ago now it is about 2500 to 3500 depends on the look.
This coin ngc xf45 sold for 144000 in 2021, Tonight Shanghai Hosane auction just sold one PCGS xf45 same coin for 1782500 RMB about $254642 USD. Almost double the price in less than two years.
Personally, I feel if demand declines even slightly, prices for these will drop like a rock. These are far from rare and the designs are quite ugly.