Author Topic: Peoples Repulic of China Fen coins  (Read 82963 times)

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Offline poconopenn

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Re: Peoples Repulic of China Fen coins
« Reply #60 on: January 31, 2013, 10:34:50 PM »
All pre-1971 fen coins were minted at Shenyang.

Offline PCGS-ASIA

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Re: Peoples Repulic of China Fen coins
« Reply #61 on: February 01, 2013, 12:00:11 AM »
All pre-1971 fen coins were minted at Shenyang.

Makes sense, the other denominations as well I assume?

Offline aragog

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Re: Peoples Repulic of China Fen coins
« Reply #62 on: February 01, 2013, 08:18:56 AM »
Hi everyone:

New, clueless guy here. I've read all your posts and think I need to get in on them. I'm not a collector or investor, but recently inherited one of those "Coin Sets of All Nations" issued by the Franklin Mint in the early 1980s. I don't think they are "proofs" (not entirely sure what a proof is, but I don't think these qualify), but I do know that they are uncirculated and sealed in a blister pack. I know very little about coins, but my research is leading me to believe my set from China may have a winner in it; it contains a 1981 5 Fen coin. I've seen some mention of it on other boards.

Here is the complete list of all the coins in my set:

1981 5 Fen
1982 2 Fen
1982 1 Fen
1981 5 Jiao
1981 5 Jiao
1981 1 Jiao
1981 1 Yuan

Can anyone tell me a little about what I have? Am I sitting on some real value? Again, I'm not a dealer or investor, so I'm just looking to sell them.

Also, is eBay my best bet for selling them? I think I've seen auctions where sets like mine (that include the 1981 5 fen) have sold for $750 - $1200. Are my eyes deceiving me?

I've read that most buyers are in China, so I can't easily post an auction in Chinese in order to appeal to those who don't read English. Any other suggestions?

Thanks!
This is a winner indeed, with 5 fen 1982 your set would be worth about $50-70 (is there 2 jiao coin or two 5 jiao?)
With this 5 fen 1981 it will get high premium as poconopenn said. It depends if 5 fen is PROOF or unc. unc  1981 seems to be even more rare than PROOF.
I actually have not seen a single mint set 1981 unc selling last two years outside of PRC 

Offline PCGS-ASIA

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Re: Peoples Repulic of China Fen coins
« Reply #63 on: February 09, 2013, 03:52:10 AM »
FYI,

PCGS will now recognize these.  (1956 5 fen varieties)  If you have a small stars "large date", send one in please.

I'd like a photo.

Offline SANDAC

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Re: Peoples Repulic of China Fen coins
« Reply #64 on: February 09, 2013, 11:22:54 AM »
Mine are just whatever plucked out of circulation.  It looks like "Large date", but is it "small star"?

BTW, direct oblique morning sun sure brings out all nicks and dings

Offline PCGS-ASIA

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Re: Peoples Repulic of China Fen coins
« Reply #65 on: February 09, 2013, 01:54:20 PM »
Off top of my head, looks like small stars.

Personally, I much prefer your piece to the unc ones I've been seeing.
Character counts!

It was confusing to people to reference the date, thus they are described as below:

Large stars

Small stars

Bold Date

Offline poconopenn

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Re: Peoples Repulic of China Fen coins
« Reply #66 on: February 09, 2013, 03:25:05 PM »
Mine are just whatever plucked out of circulation.  It looks like "Large date", but is it "small star"?

BTW, direct oblique morning sun sure brings out all nicks and dings

This is a small star/bold date.

Offline PCGS-ASIA

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Re: Peoples Repulic of China Fen coins
« Reply #67 on: February 09, 2013, 10:21:39 PM »


FAIL.

Thanks for pointing that out poconopenn.  I just looked at the characters and failed to look at the date.  Duh.

I want someone to send in a Bold Date, I havent seen one in the flesh yet.    N2

Offline aragog

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Re: Peoples Repulic of China Fen coins
« Reply #68 on: February 10, 2013, 10:57:02 AM »
Not the best pics,
but from top to the bottom:
1.small stars/thin small date
2. small stars /bold date
3. large stars

Offline aragog

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Re: Peoples Repulic of China Fen coins
« Reply #69 on: February 10, 2013, 11:08:24 AM »
I am looking forward how many new varieties will be found in the future

Offline Gilmore

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Re: Peoples Repulic of China Fen coins
« Reply #70 on: March 23, 2014, 09:31:45 AM »

1961 2 fen MS66 was sold for $7,450, 1957 1 fen MS67 for $1,250 and 1960 2 fen MS66 for $1,150 in November, 2011 inside China.



The 1961 2 Fen MS66 was sold for RMB6572 ($1055)  2014-02-18.
http://www.zhaoonline.com/zhongguoliutongjinianbi/2531938.shtml

Another one was sold for RMB3392 ($545) on 2014-03-22, 50% less than the previous month before.
http://www.zhaoonline.com/zhongguoliutongjinianbi/2585528.shtml


From $7450 down to $545 in 2.5 years. What a nose dive  :scared: 
Was the $7450 sale a one time event and a momentary spike in price, or are there more sale records with similar prices around the same period of time? 


Offline poconopenn

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Re: Peoples Repulic of China Fen coins
« Reply #71 on: March 23, 2014, 01:40:06 PM »

The 1961 2 Fen MS66 was sold for RMB6572 ($1055)  2014-02-18.
http://www.zhaoonline.com/zhongguoliutongjinianbi/2531938.shtml

Another one was sold for RMB3392 ($545) on 2014-03-22, 50% less than the previous month before.
http://www.zhaoonline.com/zhongguoliutongjinianbi/2585528.shtml


From $7450 down to $545 in 2.5 years. What a nose dive  :scared: 
Was the $7450 sale a one time event and a momentary spike in price, or are there more sale records with similar prices around the same period of time? 



The circulated fen coin market was not considered to be mature market in 2011 and was controlled by few dealers. Apparently, there were original bank rolls of 1961 2 fen, 1957 1 fen and 1960 2 fen shown  up in the market place during last 18 months. Consequently, the price of  high grade,  MS65 and better, has come down siginificantly. When I started to collect fen coin in earlier 2000, 1955 1 fen was considered to be the key date. Now, it is just a semi-key date. Currently, the high grade of 1958 1 fen, 1959 2 fen and 1963 2 fen are the toughest dates to find.

Offline Gilmore

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Re: Peoples Repulic of China Fen coins
« Reply #72 on: March 25, 2014, 08:08:11 AM »
The circulated fen coin market was not considered to be mature market in 2011 and was controlled by few dealers.

What about now? Do you think it is a good time to buy the high grades? With NGC and PCGS having offices in China more and more coins are being graded and grade rarity may change significantly. What's rare today may become common tomorrow like the above 1961 2F MS66 coin. I started picking up coins but the potential risk prevents me from getting too deep. At the past few months I've been focusing mostly on (and actually more comfortable with) buying high grade proof fen coins knowing that supply is limited due to much lower mintage.

I appreciate your input.

Offline poconopenn

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Re: Peoples Repulic of China Fen coins
« Reply #73 on: March 26, 2014, 03:05:20 PM »
What about now? Do you think it is a good time to buy the high grades? With NGC and PCGS having offices in China more and more coins are being graded and grade rarity may change significantly. What's rare today may become common tomorrow like the above 1961 2F MS66 coin. I started picking up coins but the potential risk prevents me from getting too deep. At the past few months I've been focusing mostly on (and actually more comfortable with) buying high grade proof fen coins knowing that supply is limited due to much lower mintage.

I appreciate your input.

NGC and PCGS did not grade fen coin until 2010. There were not too many fen coins graded higher than MS65 in 2011. Many key dates had few coins graded higher than MS66, therefore, the price of those top grade key dates was pushed up by collectors to an unsustainable valuation. The high valuation also provides an incentive for collectors to submit their coins from original bank roll to grading service companies. The average grade for coin from original bank roll is about MS66. Here are some examples of the changes in NGC population report in two years.

NGC population report 6/7/2011

Date   Total graded   MS65   MS66   MS67   MS68
1960 2 fen   17   7   0   0   0
1962 2 fen   4   0   0   0   0
1964 2 fen   13   3   2   1   1

NGC population report 3/26/2012

Date   Total graded   MS65   MS66   MS67   MS68
1960 2 fen   79   17   16   5   0
1961 2 fen   52   13   6   3   0
1964 2 fen   90   18   20   3   1

NGC population report 3/24/2014

Date   Total graded   MS65   MS66   MS67   MS68
1960 2 fen   265   40   102   52   0
1961 2 fen   215   28   20   3   0
1964 2 fen   439   62   96   111   98

The collector base inside China also has expanded significantly during last two years. I do believe that the valuation changed during last two years is health and in the right direction to become a mature market shortly.

The proof fen coin market, IMO, has been quite stable since 2012. The mintage is well-known. The chance of decreasing in valuation is limited.
« Last Edit: March 26, 2014, 03:41:46 PM by poconopenn »

Offline Gilmore

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Re: Peoples Repulic of China Fen coins
« Reply #74 on: March 27, 2014, 09:48:56 PM »
Poconopenn,
Now the picture is much clearer thanks to the information you provided. I had no idea that the fen coins were accepted by the grading companies in 2010 for the first time. This important fact, combined with the historical population reports that show substantial growth in population over relatively short period of time, explain very well why prices have dropped so much in the past couple of years.

I'll start expanding my search for the higher grades of all fen coins, not only the proofs, from now on.
Thank you.