Author Topic: "Chinese collectors go head over tails for commemorative coins"  (Read 3074 times)

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Offline exchange

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"Chinese collectors go head over tails for commemorative coins"
« on: October 19, 2011, 04:50:02 PM »
Very interesting article, right in line with all my purchases this year.

http://www.wantchinatimes.com/news-subclass-cnt.aspx?cid=1101&MainCatID=&id=20111009000017

full text:

A 5-ounce gold coin issued in 1993 and featuring the image of Dr Sun Yat-sen. Gold collectors' coins have become the target of investors as their popularity drives up prices.

Coins issued by China to commemorate the Xinhai Revolution have become highly sought after over the past three decades. One earlier released coin featuring the image of Dr Sun Yat-sen, one of the chief organizers of the revolution, is worth more than 1 million yuan (US$157,000) today, the eve of the revolution's 100th anniversary.

To welcome the centenary of the 1911 revolution, the People's Bank of China earlier this year issued one set each of gold and silver coins. The 0.25-ounce gold coins feature a portrait of Sun Yat-sen and are priced at 100 yuan (US$15.68). The silver coins, weighing 1 ounce, feature a bas-relief image of Tiananmen Square and cost 50 yuan (US$7.84).

The coins, which have been advertised as suitable for entry-level coin collectors, will likely fetch a price much higher than face value if sold with coins that fit the same theme. The collections' popularity in spite of slumping international gold prices has made them speculative targets favored by Chinese investors.

China issued commemorative coins in 1981 to mark the 70th anniversary of the 1911 revolution. The set cost 3,600 yuan (US$565) at the time, but now sells for 125,000 yuan (US$19,600). A set of commemorative coins released in 1991 sold at 8,000 yuan (US$1,250) when issued, but now fetch 190,000 yuan (US$29,800).

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Offline BChung

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Re: "Chinese collectors go head over tails for commemorative coins"
« Reply #1 on: October 19, 2011, 11:21:52 PM »
To welcome the centenary of the 1911 revolution, the People's Bank of China earlier this year issued one set each of gold and silver coins. The 0.25-ounce gold coins feature a portrait of Sun Yat-sen and are priced at 100 yuan (US$15.68). The silver coins, weighing 1 ounce, feature a bas-relief image of Tiananmen Square and cost 50 yuan (US$7.84).


THat sound wrong.... so cheap?

Offline exchange

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Re: "Chinese collectors go head over tails for commemorative coins"
« Reply #2 on: October 19, 2011, 11:30:04 PM »
To welcome the centenary of the 1911 revolution, the People's Bank of China earlier this year issued one set each of gold and silver coins. The 0.25-ounce gold coins feature a portrait of Sun Yat-sen and are priced at 100 yuan (US$15.68). The silver coins, weighing 1 ounce, feature a bas-relief image of Tiananmen Square and cost 50 yuan (US$7.84).


THat sound wrong.... so cheap?

Yes I also caught that. I am guessing the author meant it as its face value price and not sale price. The article was written by Claire Sung and Staff Reporter and could of been originally written in Chinese and translated into English. During the translation, the meaning of the price may have been confused.
Looking at other recently issued 1/4 ounce gold coins, they have a 100 Yuan face value including the 2011 set the article talks about.

The mintage for this 2011 set is 160,000 for the silver coin and 100,000 for the gold coin priced at around $1000. High mintage but beautiful coins.

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« Last Edit: October 19, 2011, 11:39:35 PM by exchange »