Author Topic: 1988 40th PRC Bank: real or fake?  (Read 7408 times)

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Offline poconopenn

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Re: 1988 40th PRC Bank: real or fake?
« Reply #15 on: July 10, 2011, 12:20:43 PM »
This is a questionable bank coin. The coin appears to be UNC, but has an uneven details. On reverse, the second Chinese character from left has an extra material on the surface. On observe, 1 in 1984 appears to be out of position and not straight.

The current price of this coin is about $650-$700 and Ninxia is about $160-$200. The mintage of Bank coin is slightly higher than Ninxia (2.068MM vs. 1.560MM). IMO, large quality of bank coins may be in the hand of bank employees and not in circulation.

Offline Bearcat

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Re: 1988 40th PRC Bank: real or fake?
« Reply #16 on: July 10, 2011, 02:52:15 PM »
Regarding the high price for BOC, I think poconopenn is right. There are stories of bank officials who control many of the coins. Also, there are supposed to be a large number still in the vaults that were never issued. Everybody know that they are valuable, so the days of "requisitioning" at face value are long over.

Offline aragog

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Re: 1988 40th PRC Bank: real or fake?
« Reply #17 on: July 20, 2011, 03:44:37 AM »
Regarding the high price for BOC, I think poconopenn is right. There are stories of bank officials who control many of the coins. Also, there are supposed to be a large number still in the vaults that were never issued. Everybody know that they are valuable, so the days of "requisitioning" at face value are long over.
This is a questionable bank coin. The coin appears to be UNC, but has an uneven details. On reverse, the second Chinese character from left has an extra material on the surface. On observe, 1 in 1984 appears to be out of position and not straight.

The current price of this coin is about $650-$700 and Ninxia is about $160-$200. The mintage of Bank coin is slightly higher than Ninxia (2.068MM vs. 1.560MM). IMO, large quality of bank coins may be in the hand of bank employees and not in circulation.

Thank you for the advice, I am "mature" enough already to know that when expensive coin is questionable - hands off.
But I got already a set of 21 first coins for reasonable price and pretty fair quality, and Bank coin seems to be great and genuine.
I consider it as one of my best purchases in a year:
http://cgi.ebay.de/ws/eBayISAPI.dll?ViewItem&item=390324978318
Does anyone has any information about such type of sets, I could not find anything on the non-chinese part of the internet.

Offline aragog

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Re: 1988 40th PRC Bank: real or fake?
« Reply #18 on: July 27, 2011, 10:19:21 AM »
Now the pics of the coin from the set, is it original or fake? I tried to make scan from two angles

Offline poconopenn

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Re: 1988 40th PRC Bank: real or fake?
« Reply #19 on: July 27, 2011, 02:34:06 PM »
Yes, It is genuine. I bought a similar album (1984-1993, BU set) at Bank of China at Shanghai in 1995 for RMB100. However, I do know that some sellers may switch the high grade BU coin in the album with a low grade or fake coin. In 2008, I bought a fen album (1955-1992)at eBay. It turned out all key date fen coins were altered coins. Pictures of altered fen coins are attached. There are altered 1957 and 1992 1 fen being sold inside China. If you also collect fen coins, be very careful with all key and semi-key dates.
« Last Edit: July 27, 2011, 02:50:18 PM by poconopenn »

Offline aragog

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Re: 1988 40th PRC Bank: real or fake?
« Reply #20 on: July 28, 2011, 04:41:48 AM »
to poconopenn:
thank you for the nice informative pics of fen dates, I don`t have all general yet, so it would last some time untill I will look around for missing key dates.
And back to the coin I posted. It seems to be with same patina from storage in plastic as all other yuan coins. But after studying the scans, I weighted the coin and then all other 1 yuan coins. All others are between 9,32 and 9,37 g and bank coin has 9,96 g and in the set on the last page stated 9,3g as for all other coins. 7% mistake would not pass any QC criteria, would it?
So I started to study the coin again, do not see any striking signs of fake, in comparison with previous scans I got from the other seller, it looks far more genuine. But the weight is the first thing to check if the coin is original, at least what I did all the time. And now I see that in this topic at the beginning the difference of bank coins was 0,3g. Well, it is not 0,6g but still big, can any of you provide the info on the weight of your bank coins.
And the next question is about the variants of commemorative chinese coins. I used to collect soviet coins, and they were minted at cca the same time and the same quantities, and majority  if not all, have many stempel/die variants.
It should be the case for chinese as well, but I have only 2-3 coins for each theme, so no chance to look for differences.

Offline poconopenn

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Re: 1988 40th PRC Bank: real or fake?
« Reply #21 on: July 28, 2011, 09:04:39 PM »
I just weighed my bank coin. It is exactly 9.32 gm as specification. The thickeness is 1.7 mm and diameter is 30.0 mm. Both dimensions are exact as specifications of this coin. You coin's weight is problematic. The coin should have right angle reeding. The difference of reeding can account for the weight difference. Compare the reeding of bank coin with other 1 Yuan coins to see if they are identical.   

Offline aragog

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Re: 1988 40th PRC Bank: real or fake?
« Reply #22 on: August 01, 2011, 05:56:44 AM »
Hello,
thank you for the information. I did not find any difference in reeding of bank coin with others 1 yuan coins of 1980th. Later I will try to measure thickness and diameter, but it was no difference of diameter and thickness from other 1 yuan coins after visual comparison with other coins. Strange...