China Coins - Why So Expensive? Manipulated Prices?

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Author	Replies: 4 / Views: 5,814
ktemew New Member Philippines 1 Posts	Posted 04/07/2011 10:58 am i really wonder why the china coins are so so so expensive. just have a look at some examples: 1) CHINA 1983 10 YUAN PANDA SILVER PROOF BOXED SET (1 bronze coin and a silver coin 0.78 ASW 10,000 mintage) = $3000 2) China Silver 20 Yuan 1998 New Looks Of Hong Kong Set - mintage 11800 = $1,550 3) 2010 1oz silver panda for 90th anni of Shanghai Mint = $240 the prices compared to other countries' coins are so high. so, the question is: why are the prices so high? demand? Report this Post to the Staff

sel_69l Bedrock of the Community Australia 21786 Posts	Posted 04/08/2011 09:34 am China has a population with rapidly growing financial affluence, and a huge market base. They have money to spend. A large part of the Perth Mint's sales is in sale of bullion coins to the Chinese, both here in Australia and at home in China. A Perth Mint 10 KILO GOLD coin recently sold for $527,500. That's 17% above spot price. The Chinese themselves are making large bullion gold coins by the cartload. Three 1 kilo gold coins sold in China for $161,000 each. At that time, the spot price for a kilo of gold was $38,500. That is more than FOUR TIMES spot value! (Quoting from the Australasian Coin & Banknote magazine). Report this Post to the Staff
biokemist6 Bedrock of the Community United States 12437 Posts	Posted 04/08/2011 11:03 am The phrase Nouveau riche comes to mind when thinking of the dramatic increase in Chinese numismatic purchases. Russian coinage is going through the same phase to a lesser extent. Report this Post to the Staff
brokencompass Valued Member United States 451 Posts	Posted 04/08/2011 1:57 pm I hear that India is going through the same phase too albeit not as much as China. Report this Post to the Staff
goodwin Valued Member Japan 71 Posts	Posted 04/09/2011 7:36 pm as it has been already pointed out - people are getting richer, and seek for investment vehicles - precious metals and coins are among the most favorite ones (alongside with real estate) and, providing the characteristic historic instability and unpredictability of china (no one can be sure no new upheaval would occur in the future) something with such a high ratio of inherent value and ability to be easily hidden like coins is considered to be the best insurance... prices are high indeed there is one rectangular coin I want for collection, it weighs 1/2 gold but the selling price starts at 5000 usd and goes several times higher on chinese auctions: Report this Post to the Staff
	Replies: 4 / Views: 5,814

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