Author Topic: Hong Kong Market Update  (Read 2099 times)

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Offline BobW

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Hong Kong Market Update
« on: October 10, 2008, 05:50:00 AM »
In recent months the overall availability of attractive, uncleaned, problem-free coins has been significantly lessened for early date Hong Kong coins. As might be expected, prices have thus increased as it seems buyers have become more aggressive in their buying habits.

Uncirculated five cent coins minted after 1897 can still be found and it appears that small hoards of some later five cent coin dates may still exist and are slowly being brought to market.

Eye-appealing true full red one cent coins and pre-1885 silver coins are particularly difficult to find for sale in any grade.

Many coins now appearing in auctions have problems and it is imperative to view the coins or have someone view the coins before bidding. Some scarcer early date coins with obvious defects are selling in auction for well over recent past realized prices for problem free coins of the same date. Choice uncirculated and choice higher grade circulated early date coins are selling for many multiples of Krause prices. The higher prices reflect the overall lack of choice coins for sale.

Hong Kong and China remain the best places to find scarcer coins. In the USA, dealers who are able to acquire nice coins seldom offer their finds to the general public as they already have ready buyers for the coins. eBay, which as late as a few years ago, regularly had some better listings, seldom has any now.

If you collect certified coins in uncirculated condition or plan to have your acquisitions certified, be aware that there are different grading standards for each Third Party Grading Company in my opinion. These varying standards can sometimes result in significant price differences in the marketplace. This is particulary true in today's collecting environment. Due dilligence is essential.

The global financial slowdown may bring better coins to market and provide new opportunities. But for now, if you have a chance to acquire an eye-appealing scarcer coin, you should give some consideration to acquiring it quickly.