Author Topic: Current MCC prices  (Read 5118 times)

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Offline goldpig

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Current MCC prices
« on: August 25, 2014, 04:49:33 AM »
I called a major coin dealer based in CHina today, they said the current prices on most MCCs are at about half of what they were in 2011.

This would mean that the price of MCC are tied to the price on the precious metals.?

2011 silver was around 40usd, today around 20usd.

Forum members thoughts please.

Offline didochili

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Re: Current MCC prices
« Reply #1 on: August 25, 2014, 06:09:45 AM »
just a coincidence I think. silver spot price is volatile, take any two years and each year would have a wide range, and you can get a wide ratio range.

Offline RisingTIde

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Re: Current MCC prices
« Reply #2 on: August 25, 2014, 07:02:54 AM »
I noticed there is a slight drop in past year graded panda as well.

Offline goldpig

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Re: Current MCC prices
« Reply #3 on: August 25, 2014, 08:23:25 AM »
Thanks for the feedback.

Though I do remember that back in 2011 when gold and silver prices dropped, MCCs prices also started to drop.

The dealer also mentioned that many MCCs are back to around the 2008 price range.

Offline pandamonium

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Re: Current MCC prices
« Reply #4 on: August 25, 2014, 08:26:34 AM »
MCC prices are tied to bullion prices as in the past.    A true buyers market for the time being.   Weak hands or those needing operating cash are selling quality today.   By now we should all know the price manipulation of bullion will come to a end.   The only question is when..........

Offline goldpig

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Re: Current MCC prices
« Reply #5 on: August 25, 2014, 08:45:57 AM »
I agree with Pandamonium.

I have always bought the best coins i could afford and though prices have dropped i am confident they will rise again. I still stand by and enjoy the coins i bought.

If I want to sell a coin for a profit that I bought back in 2011 I will have to be patient, simple as that.

Its just that certain coins that i could only afford to purchase one of in 2011, today I could buy two or three of the same coin for the price of one back in 2011!

Offline goldpig

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Re: Current MCC prices
« Reply #6 on: August 25, 2014, 10:15:01 AM »
Here is an interesting link, they predicted it back in 2011.

http://www.fool.com/investing/general/2011/04/29/warning-silver-will-fall-by-66.aspx


Offline KeyDate1/2ozPandas

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Re: Current MCC prices
« Reply #7 on: August 25, 2014, 11:02:17 AM »
I called a major coin dealer based in CHina today, they said the current prices on most MCCs are at about half of what they were in 2011.
This would mean that the price of MCC are tied to the price on the precious metals.?
2011 silver was around 40usd, today around 20usd.
Forum members thoughts please.

Semi-rare and rare modern Chinese coins have low degree correlation with the price of metal, they are much more tied to the Chinese economy or level of discretionary income in hand of potential collectors/investors.  Discretionary income is based one's bonuses, promotions as work, wealth appreciation in other assets (real estate or stocks), easy money (bribes) and competing investment trends.  Anyone that is living in China today can relate that discretionary income is down from 2011 level, but on average the top 20% of Chinese population is much wealthier today than 2008, primarily due to real estate.

Also, for semi-rare and rare coins we are no where near 2008 levels, if we were I would buy everything semi-rare to rare I possibly could.  I will give you some examples of 2008 prices vs 2011 vs today:

                                                                                   2008        2011        2014
1995 1oz silver panda NGC PF69                                    $700        $800        $700  (common coin)
1993 5oz silver peacock NGC PF69                                $1,100     $11,000     $5,500 (rare)
1996 5oz silver unicorn NGC PF69                                  $900       $5,500       $2,500 (semi-rare)

1982 1oz gold panda NGC MS69                                   $4,100     $8,000       $7,500 (rare)
1992 1.9oz gold panda proof set NGC MS69                  $5,000      $26,000    $20,000 (rare)
1993 1.oz gold fu  lu shu NGC MS69                             $3,500     $23,000     $12,000 (rare)
1995 1oz gold unicorn NGC PF69                                  $2,500     $16,000     $7,000 (semi-rare, low mintage but easily available)
1995 1oz gold panda NGC MS69                                   $1,600     $5,000       $4,300 (semi-rare)
1998 1/2oz gold panda SD NGC MS69                           $1,500     $7,000      $6,300 (semi-rare)
1998 1/2oz gold panda LD NGC MS69                           $1,600     $20,000     $10,000 (rare)
1992 5x1oz gold Invention and Discovery NGC PF69      $15,000    $80,000     $28,000 (semi-rare)

Anyone that bought prior to 2010 will tend to have more optimistic view of the market, while those that joined in 2011 and just held tend to be very pessimistic about the market.  

What you will find right now is the people selling are either, 1) those that bought in the 1990s for nothing and selling for huge profits now (or dead and estate is selling), 2) those that bought in 2011 and can't take the pain anymore or have found some new trend to follow (bitcoins, S&P 500 $2000).  While those that bought in 2007-2009 are sitting pat or adding to their holdings.  Very similar profile developed in early 1990s, those that bought at peak prices of 1987, gave up by early 1990s, those that bought in the 1990s held on for 15-20 years.  

This is why you often hear the phrase "buy right and sit tight".  Hint, you can't "buy right" when everyone is buying alongside you (aka 2011), right now there are many opportunities to "buy right" and surprisingly those buyers are in Singapore and US, not China.  
« Last Edit: August 25, 2014, 11:22:18 AM by KeyDatePanda »

Offline didochili

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Re: Current MCC prices
« Reply #8 on: August 25, 2014, 11:38:36 AM »
I'd say for China it's more about political environment rather than free market as well. The current leader has been anti corruption since his appointment. That hurts the collectible market.

Offline Pandaguy

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Re: Current MCC prices
« Reply #9 on: August 25, 2014, 01:02:57 PM »
Xi is "anti-corruption" only to protect his and his cronies continued corruption. Xi needs to "make an example" out of some of his corrupt enemy politicians in order to keep the populace satisfied with the impression that he is doing a good job. Yes, the people are tired of the corruption and extreme wealth disparity here in China. Don't worry, it's still business as usual here in China for the wealthy politicians. I see them here every day as owners of the multi-million dollar villas here where I live in addition to their Rolls Royces and Bentleys. Sickening indeed for the majority of hard-working Chinese. The politicians are still receiving MCC as gifts (bribes) from businesses and individuals looking for "favors" and for the government to "look the other way". The little guy here in China does not have a chance except for the hope of revolution and the democratic reforms that will follow.

Offline poconopenn

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Re: Current MCC prices
« Reply #10 on: August 27, 2014, 12:47:51 AM »
Xi is "anti-corruption" only to protect his and his cronies continued corruption. Xi needs to "make an example" out of some of his corrupt enemy politicians in order to keep the populace satisfied with the impression that he is doing a good job. Yes, the people are tired of the corruption and extreme wealth disparity here in China. Don't worry, it's still business as usual here in China for the wealthy politicians. I see them here every day as owners of the multi-million dollar villas here where I live in addition to their Rolls Royces and Bentleys. Sickening indeed for the majority of hard-working Chinese. The politicians are still receiving MCC as gifts (bribes) from businesses and individuals looking for "favors" and for the government to "look the other way". The little guy here in China does not have a chance except for the hope of revolution and the democratic reforms that will follow.

Time will tell if the current leaders is seriously enough in dealing with the corruption. The MCC market, as well as other collectibles definitely will be affected significantly.