Some caution advised when collecting coins of China
OnlyBuffalos
Posts: 817
In another post one member stated that prices on Chinese material had increased dramatically over the past few years. No disputing that from my vantage point.
However I would strongly urge collectors of the coins of China to be aware that the population reports of PCGS and NGC and the prices in the Standard Catalog of World Coins are subject to change, sometimes dramatically, as the popularity of China's coins grows.
In the last year alone, several new hoards of coins have been "discovered". Some of the coins are over a hundred years old. Most of these hoards are from the Provinces of China. Most of the findings involve Cash Coins and 20 Cent Coins. A great many are of MS63 and better quality.
A few examples are: Chihli province 1904-1907 Cash; Kwangtung province 1929 20 Cents; China Republic 1934 Y-345 $1; China Fkien (can't use the correct spelling) province 1898-1903 Y-104 Cash (This Cash coin sold for over $400 in MS64 on eBay last year, it now sells for around $100.)
These hoard coins appear often times on eBay and are slowly dropping in price. Most often the sellers are from China and are reputable merchants. Unfortunately eBay's history of sales archive, is quite limited so a pro-active watch is required to track these sales.
So far it does not appear that any coins considered rarities have been discovered but the possibility, though remote, may bring some to market as values increase.
The popularity surge will most likely continue and provide opportunities for some profitable acquisitions but with it be prepared for some disappointments as well. The adage that knowledge is key still holds, but may be difficult to apply in this arena especially since very few research resources seem to be available for collectors.
However I would strongly urge collectors of the coins of China to be aware that the population reports of PCGS and NGC and the prices in the Standard Catalog of World Coins are subject to change, sometimes dramatically, as the popularity of China's coins grows.
In the last year alone, several new hoards of coins have been "discovered". Some of the coins are over a hundred years old. Most of these hoards are from the Provinces of China. Most of the findings involve Cash Coins and 20 Cent Coins. A great many are of MS63 and better quality.
A few examples are: Chihli province 1904-1907 Cash; Kwangtung province 1929 20 Cents; China Republic 1934 Y-345 $1; China Fkien (can't use the correct spelling) province 1898-1903 Y-104 Cash (This Cash coin sold for over $400 in MS64 on eBay last year, it now sells for around $100.)
These hoard coins appear often times on eBay and are slowly dropping in price. Most often the sellers are from China and are reputable merchants. Unfortunately eBay's history of sales archive, is quite limited so a pro-active watch is required to track these sales.
So far it does not appear that any coins considered rarities have been discovered but the possibility, though remote, may bring some to market as values increase.
The popularity surge will most likely continue and provide opportunities for some profitable acquisitions but with it be prepared for some disappointments as well. The adage that knowledge is key still holds, but may be difficult to apply in this arena especially since very few research resources seem to be available for collectors.
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World Coin & PM Collector
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1. There are those who only sell NGC or PCGS coins. Their feedback is at or near 100%. The shipping charges are reasonable and they accept returns.
2. There are those who sell NCG and PCGS coins plus raw coins. Their feedback is at or near 100%. The shipping charges are reasonable and they accept returns. The raw coins are most often inexpensive coins not worth slabbing or coins with problems that if submitted to PCGS would be classified as Genuine. They do not knowingly sell fake coins.
3. Sellers of raw coins who very seldom if ever sell PCGS or NGC coins. These sellers can be located anywhere including the USA. Some of these sellers claim they do not know they are selling fake coins but I believe the vast majority do. Shipping charges are often excessive. Bidding on an offering from one of these sellers, can be very hazardous to one's financial health.
Bottom line. Buying a Chinese coin on eBay is not too much different from purchasing a USA coin even though there are tons more fakes for sale. Avoid uncertified coins unless you know the dealer and use common sense - if it sounds too good to be true, ................ Rare and scarce Chinese coins are usually sold somewhere other than eBay. The honest dealers of Chinese coins want to drive the dishonest dealers from eBay. After a working relationship is established, most honest dealers, especially those in China, will vouch for other honest dealers in China. Many are also willing to sell directly to you and to search for coins you need.
My 2 cents worth on the subject...
Learn the coins, Learn the grades and pass on EVERYTHING that does not look like it should!
Rick
1836 Capped Liberty
dime. My oldest US
detecting find so far.
I dig almost every
signal I get for the most
part. Go figure...
BST: Tennessebanker, Downtown1974, LarkinCollector, nendee
<< <i>what are "cash coins".....are they ones not made of precious metals? >>
See my answer in this thread. By "cash coins" we normally mean "round cast brass/bronze coins with a square hole".
Roman emperor Marcus Aurelius, "Meditations"
Apparently I have been awarded one DPOTD.
<< <i>By "cash coins" we normally mean "round cast brass/bronze coins with a square hole". >>
Occasionally iron as well, and very, very, very, very, very rarely gold.