Author Topic: Record Breaking Sale  (Read 2948 times)

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Record Breaking Sale
« on: November 25, 2014, 12:16:26 PM »
According to information divulged by a well-placed source in the Chinese coins market, two 1 kilo gold coins, featuring the Compass and Seismograph of the Ancient Inventions and Discoveries series, issued by the People’s Bank of China in 1992, have been sold for...

Offline pandamonium

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Re: Record Breaking Sale
« Reply #1 on: November 25, 2014, 09:23:37 PM »
Thanks for your articles...... N31

Offline davidt3251

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Re: Record Breaking Sale
« Reply #2 on: November 25, 2014, 11:24:59 PM »
In the current narrow market, as the elite grows their wealth at the expense of the middle class, truly rare coins like this can be subject to explosive price increases while more common coins languish.

A year ago, even before the current weakness, I approached a well known Chinese dealer about his potential interest in a lot of historical figures/cultural coins/romance of the three kingdoms/silk road coins I had been offered in a potential trade. Even though many of the coins offered have sub 10,000 mintage, the derisive reply was to the effect that there was little interest in such "common coins" as he termed them.

This continues today, even with the rarer silver Lunars (such as scallops), with mintages less than 1/10 of recent issues, selling at prices less than more recent Lunars.

It would be interesting to see how high the cutoff in price has to be to be considered an elite coin.