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 Replies: 16 / Views: 3,516 |
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Pillar of the Community
Canada
2781 Posts |
Edited by Wade
11/10/2015 09:12 am
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Pillar of the Community
Canada
9160 Posts |
Some people have all the luck, now will that increase or decrease the value of a single coin from that year?
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Pillar of the Community
United States
4963 Posts |
I don't think date matters, as they certainly wouldn't be dated. However, it would probably decrease the value of type if they flood the market. Even if they aren't sold right away, everyone buying that type would know there were so many and they would still lose value.
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Moderator
 United States
188332 Posts |
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Rest in Peace
United States
18456 Posts |
Chinese counterfeit coins made 2,000 years ago ?  |
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Moderator
United States
188332 Posts |
Ouch!  |
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Bedrock of the Community
United States
17884 Posts |
This is the second or third time in the past ten years a hoard this size has been found. I really don't think it will have much of an effect of values though because first it is illegal to export them, and two values for coins from this era are already rather modest. That line " but a single coin will now sell for thousands of pounds." is a lot of hooey. I'm sure there are coins from that era worth that much, but it isn't had to buy cash from then for around $30, possibly less. It would be like having a story about a hoard of Morgan dollars and saying "They were on;y worth $1 apiece back then but a single one will now sell for $100K." because an 1893-S has done so. |
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Pillar of the Community
Canada
5324 Posts |
Almost like someone today hoarding 10 tonnes of pennies.
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Pillar of the Community
United States
1656 Posts |
TPGs are already on the phone offering to slab with with special Hoard labels.
On QVC by Christmas!
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Bedrock of the Community
United States
19949 Posts |
Quote:
Around two million of the copper coins were found and are thought to be worth around £104,000 at face value - but a single coin will now sell for thousands of pounds. That's a serious load of pucky. Somebody went to journalism school but knows nothing about coins. |
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Bedrock of the Community
Australia
21786 Posts |
I will take ton of the best of them!
I have heard a saying that Chinese cash coins were made in 'industrial quantities'; here is supposedly truthful evidence of that.
I will buy them for 20 cents each. That is what I used to buy them for, forty years ago, when collecting them was less popular than now.
Problem that I understood, even then, is that I wasn't sure if they were genuine or not. At 20 cents each at the time, genuine or not, they were good value.
A single cash coin that would take perhaps five cents to make, can be sold for a dollar, even if it isn't genuine.
40 years later, I am still not 100% sure that the rather extensive collection I have of these things is genuine despite reassuring professional opinions that they are (genuine).
I owe it to myself that I should always be pragmatic about Chinese cash coins.
At least my copy of Schjoth helps me to identify them all.
Edited by sel_69l
11/10/2015 4:27 pm
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Pillar of the Community
United States
6370 Posts |
Wu Zhus just decreased in value that much more. But they are only worth $1-2 dollars in that condition to start with, so...
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Pillar of the Community
United States
1316 Posts |
Kinda like what the El Cazador has done to the rarity of Reales shipwreck coins. It's literally taking a couple decades to have the market absorb the volume they hauled up on a one by one basis. The value here is the history and cool factor of the hoard. 99% of Chinese cash coins aren't rare to begin with and sell for nearly nothing, hurt more by the abundance of copies that scare away spenders. If these can be conserved and TPG slabbed with a cool label, I might enjoy a couple on the cheap for the fun of it. |
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Pillar of the Community
United States
1314 Posts |
Quote:
Somebody went to journalism school but knows nothing about coins. Or math. "Journalism School" is perhaps the second greatest of all oxymorons, trailing slightly behind "common sense." L 104,000 / 2,000,000 coins = L 0.052 /coin (or about 8 cents US) While not quite thousands of pounds, it may give some insight as to why journalists have such difficulty with math when it comes to national debt, inflation or unemployment. |
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Pillar of the Community
United States
4963 Posts |
Note that they said £104,000 face value, but there's no telling what they think face means.
I think the author may have been trying to fill space. Do they really have to clarify that the nobles were buried underground?
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Pillar of the Community
United States
6130 Posts |
Chinese cash were valued at 1,000 to a tael (about 1-1.5oz) of silver. That would put them at about 0.2 cents each, in terms of silver exchange rate to the US/Spanish dollar. But, what I have read seems to indicate that the *buying power* was much higher, possibly 1 cash = $0.50-$1 in the Han dynasty. It's complicated math and the journalist probably could have goven a short paragraph to explain all that.
What gets me is the fact that this noble chose to be buried with a heap of strings of 1,000 cash, rather than a case of silver tael.
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Replies: 16 / Views: 3,516 |
Posted 11/10/2015 09:10 am
