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China Coins - Why So Expensive? Manipulated Prices?

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New Member

Philippines
1 Posts
 Posted 04/07/2011  10:58 am Show Profile   Bookmark this topic Add ktemew to your friends list Get a Link to this Message Number of Subscribers
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?
Bedrock of the Community
sel_69l's Avatar
Australia
21786 Posts
 Posted 04/08/2011  09:34 am  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
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).
Bedrock of the Community
biokemist6's Avatar
United States
12437 Posts
 Posted 04/08/2011  11:03 am  Show Profile   Bookmark this reply Add biokemist6 to your friends list Get a Link to this Reply
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.
Valued Member
United States
451 Posts
 Posted 04/08/2011  1:57 pm  Show Profile   Bookmark this reply Add brokencompass to your friends list Get a Link to this Reply
I hear that India is going through the same phase too albeit not as much as China.
Valued Member
Japan
71 Posts
 Posted 04/09/2011  7:36 pm  Show Profile   Bookmark this reply Add goodwin to your friends list Get a Link to this Reply
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:
China-Coins---Why-So-Expensive?-Manipulated-Prices?
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