| Author |
 Replies: 7 / Views: 3,507 |
|
|
New Member
United States
39 Posts |
I've noticed in recent years that Chinese circulating coins from the 1980's have gotten very expensive online. This is excluding the smallest aluminum types of course which are a dime a dozen.
Any reason as to why that is? I would think being from a country like China would mean they'd be pretty high mintage and they're pretty prone to tarnishing. Are they just overpriced or really uncommon?
*** Moved by Staff to a more appropriate forum. ***
|
|
|
|
Pillar of the Community
Sweden
1078 Posts |
I think simply because of scarcity. I've come across many Jiao notes but the corresponding coins (1,2 and 5 Jiao and 1 Yuan) I have never seen, that despite having looked through many junk boxes. If I'm not mistaken the notes were much more common in circulation than the coins.
|
|
Pillar of the Community
Australia
3831 Posts |
For some years, some coins could only be found in mint sets. This explains why some are scarce to exceeding rare in any condition. I believe some of the rarer key dates were actually struck in proof / proof like condition which suggest that for some years, they were not intended for circulation.
I don't follow this series too closely as I found some years are just too expensive for my taste despite having a nearly complete album. These are the coins that I'm missing:
5 fen - 1979, 1981
2 fen - 1980, 1992
1 fen - 1957, 1981, 1992
And of course, let's not forget about the threat of counterfeits / modified coins as well - they do exist as well!
My partial coin collection http://www.omnicoin.com/collection/gxseriesMy numismatics articles and collection: http://www.gxseries.com/numis/numis_index.htmRegularly updated at least once a month. |
|
Pillar of the Community
Germany
1064 Posts |
China has also been developing quickly, so in the modern times coins are becoming more and more usual. But still outside of the East Coast areas coins are still not the norm. 1 Jiao coins are becoming the norm, but 1 yuan coins are not.
So, I imagine that in the 1980s banknotes would have been the norm in most places and with so many Chinese people and with so much speculation, coin prices are going to go sky high.
I did see a set of 1980s coins for sale and was quoted like 1000RMB, like 100 Pounds or 150 Euros, I wasn't going to spend that.
|
|
Pillar of the Community
Australia
3831 Posts |
Depending on some years especially for proof mint sets, I've seen them going well over the thousand dollar mark because they are that scarce! I think for 1980 - 1985 proof sets in general cost are easily four figures because of the scarce mintage. I think there was a couple of sets I saw that went nearly to the five figures mark because they were only presented to diplomats overseas which means that they rarely appear in the market for starters.
My partial coin collection http://www.omnicoin.com/collection/gxseriesMy numismatics articles and collection: http://www.gxseries.com/numis/numis_index.htmRegularly updated at least once a month. |
|
Pillar of the Community
 United States
4596 Posts |
Coin collecting is a new hobby in China as the people have more money to spend on entertainment.
Back when, there were few collectors, so only limited amounts of choice material was saved.
A+B = more buyers than sellers = higher prices
-----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
|
Pillar of the Community
Australia
3831 Posts |
I think you also got to remember that China is still technically a "communist" regime. At one stage during the cultural revolution, anything that was related to antiques especially the 'shame' era where China was literally torn by foreign occupation - everything had to go to the melting pot or incinerator. Coins were no exception either.
It was only in the late 1980s where coin collecting slowly became acceptable and by 2000 when people had more disposable income - that was when coin prices literally skyrocketed.
My partial coin collection http://www.omnicoin.com/collection/gxseriesMy numismatics articles and collection: http://www.gxseries.com/numis/numis_index.htmRegularly updated at least once a month. |
|
New Member
 United States
39 Posts |
Interesting. It didn't make sense such a large country had very basic coins so hard to find. I do remember someone saying something about certain areas still favoring notes over coins though. If that's the case it makes more sense, especially in more rural places I suppose that lack vending machines, meters, anything that makes coins necessary. I already knew Chinese prefer paper over plastic but if fractions of a yuan aren't worth very much I could see why they also don't care for carrying a bunch of heavy change, I feel that way about the penny much of the time.
I have one of the old card sets made by Franklin mint with a few of these coins, I actually got it for almost nothing at a small shop some years ago not really aware it had much value, apparently the dealer didn't either. Every once in a while I hit a lottery number I guess. It doesn't have any of the proof types in it though. They certainly aren't the kind of thing I'd spend a whole lot of money on though either, though because it's a very limited series with only a few dates it at least seems possible to get the whole collection which can't be said for some higher dollar series.
I know coin collecting was abolished for many years in the Soviet Union so politically it makes sense a lot of the older stuff would have probably been discarded or destroyed as well.
Thanks for the info on the history and which ones to especially look out for if they ever happen to come up.
|
| |
Replies: 7 / Views: 3,507 |
|
Posted 04/07/2016 10:44 am
