Author Topic: Best way to buy Chinese moderns?  (Read 204 times)

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Offline Boomtree

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Best way to buy Chinese moderns?
« on: April 07, 2021, 01:18:32 AM »
Hello all,

I am curious, what is the best way for us to purchase modern Chinese coins? My father-in-law has a friend who works at the 'big' bank in China, and he can get any of the moderns directly from the bank... although I think some of them you need to enter a lottery? Is this the best way to acquire the coins, or can you get them on the secondary market at cheaper prices?

I ask this because with US modern commemoratives, the mint usually sells them at a very high premium and a year or so after they are issued, they can be found at coin shows at a great discount over the issue price. Many of the silver and gold moderns can drop down near melt value. Thus, serious (and patient) collectors of US modern coins would never buy from the mint. However, I do not know if the same is true for Chinese moderns?

From what I can tell looking at eBay and other sources, the newest pandas are basically the same price in the US as the issue price in China because they are minted in such great quantities. But for the other commemorative coins, there seems to be a premium in the US.

Does anyone have any advice for us?

Thanks,

Russ

Offline Rarityhunter

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Re: Best way to buy Chinese moderns?
« Reply #1 on: April 09, 2021, 02:30:01 AM »
I think it depends on how you define MCC. Most ppl here talk about MCC actually means those gold and silver ones.

Offline pandamonium

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Re: Best way to buy Chinese moderns?
« Reply #2 on: April 09, 2021, 07:52:28 AM »
Some new collectors read past articles here.    Lots of good info and lots to read.    Books are very helpful.
Time is running out as the rare or semi rare are getting attention or not offered so inventory is thin but there still are some good buys....

Offline Mirkkanen

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Re: Best way to buy Chinese moderns?
« Reply #3 on: April 09, 2021, 01:05:49 PM »
I think it depends on what you want to buy. You will have better luck buying gold and silver pandas from panda collector like many members here. If you want to buy cultural MCC, not gold and silver pandas, the cheapest way to do it is to have a source within China (most of us don't) or to know a US major dealer (with whom you built a relationship over time) who can help you by selling them to you at/near their cost.

If you are seeking some of the NEW cultural releases, major dealer is best. If looking for older cultiral releases, posting a want to buy ad here will probably do the trick. For example, I have some cultural sets that I may hold forever unless I see interest here from a member who may want them more than I do. Anything is possible . . .