Author Topic: China Coin and/or Banknote Exchanges  (Read 22102 times)

0 Members and 1 Guest are viewing this topic.

Offline wittu

  • Supporter
  • Trade Count: (0)
  • Jr. Member
  • **
  • Posts: 91
  • Karma: 19
Re: China Coin and/or Banknote Exchanges
« Reply #15 on: May 27, 2015, 05:32:32 PM »
Hello,

Thank you very much for your help!   N48

One more question :

Could the capital for a fund be higher than 2000000 RMB? It's just the Minimum? No Limit on the upper side?  And then the pre-set number would be higher? Could i find/read  these numbers without beeing a registered member?

Greetings,
wittu  N48

Offline poconopenn

  • Supporter
  • Trade Count: (+7)
  • Hero Member
  • *****
  • Posts: 2539
  • Karma: 219
Re: China Coin and/or Banknote Exchanges
« Reply #16 on: May 27, 2015, 11:52:16 PM »
Hello,

Thank you very much for your help!   N48

One more question :

Could the capital for a fund be higher than 2000000 RMB? It's just the Minimum? No Limit on the upper side?  And then the pre-set number would be higher? Could i find/read  these numbers without beeing a registered member?

Greetings,
wittu  N48


Yes, Usually, the capital for a fund is much higher than RMB2,000,000.

Here is the link for the following statistic table of all exchange funds listed at Nanjing Exchange.
The % of mintage deposit at Exchange is shown in the marked column.

 http://www.njwjsqbyp.com/show.asp?id=1898

Offline poconopenn

  • Supporter
  • Trade Count: (+7)
  • Hero Member
  • *****
  • Posts: 2539
  • Karma: 219
Re: China Coin and/or Banknote Exchanges
« Reply #17 on: May 28, 2015, 12:21:00 AM »
Sorry, the attached table above is for 10/28/2014.
 
The following table is for 5/27/2015. Please note the change in total capital, since the fund can add more members and receive more deposit after IPO.

Offline wittu

  • Supporter
  • Trade Count: (0)
  • Jr. Member
  • **
  • Posts: 91
  • Karma: 19
Re: China Coin and/or Banknote Exchanges
« Reply #18 on: May 28, 2015, 09:19:11 AM »
 N48 N48 N48
i will have to find somebody, to translate... 

What about the Quality of the coins, that are "laying there"...does anybody care? Is there a Minimum Standard?  I guess grading is not a "must be" Standard?

Many Greetings,
wittu  N48

Offline wittu

  • Supporter
  • Trade Count: (0)
  • Jr. Member
  • **
  • Posts: 91
  • Karma: 19
Re: China Coin and/or Banknote Exchanges
« Reply #19 on: May 29, 2015, 12:51:17 PM »
Hi,

i have 1000 questions...SORRY  N24  just because i think, it`s a serious topic:

as i understood...before the Fund is "opened" they find members who  sign up for it... which means to me: There are all Parts of the Fund presigned or presold.

How does this fit to this answer:
fwang wrote:
"When he applied, he was told that apart from the required number of items, he had to have 5 million Yuan ready as "protection fund", to be used if the price plunged."

if i open a Fund ... is everything "presold" or not? Why 5 Million ready as "Protection Fund"  IF THE PRICE PLUNGED?

And: is it possible to higher/fill up the Fund? This would explain, why the Markert reacts like now........

Thousand greetings and  N48.

wittu  N48

Offline poconopenn

  • Supporter
  • Trade Count: (+7)
  • Hero Member
  • *****
  • Posts: 2539
  • Karma: 219
Re: China Coin and/or Banknote Exchanges
« Reply #20 on: May 29, 2015, 06:30:55 PM »
Perhaps my previous posted process for listing an exchange fund is too simplified. Actually the applicant for an exchange fund has to submit application through a registered broker of Exchange. Just like any stock IPO, the estimated valuation may not be the price at the first day of IPO. Most exchange funds have up more than 1000% during last two years. However, in a bear market, price may plunge, the price at the first day of IPO may be lower than the price approved by the Exchange. In this case, the applicant of the exchange fund definitely need several accounts and a “protection fund” to maintain the market stability. Please also note that the daily trading volume can be higher than the total numbers of the said item stored at Exchange. I believe that the story mentioned by Fwang is between the broker and the applicant of the exchange fund.

Please note that the valuation of many coins traded at Exchange is at least 50% higher than the actual price traded in the coin market. Most circulated Cu-Ni coins are in the range of 200-400%. For example, the current market price for 2006 proof dog is about RMB 2,500, but the exchange has traded this coin about RMB 10,000.   This type of speculation can not be last too long. IMO, many new investors/speculators will be hurt badly. The only people made money are those original investors/speculators who IPO the funds in 2013, 2014 and earlier 2015. IMO, they have sold most of their shares of fund to take profit already.

Offline poconopenn

  • Supporter
  • Trade Count: (+7)
  • Hero Member
  • *****
  • Posts: 2539
  • Karma: 219
Re: China Coin and/or Banknote Exchanges
« Reply #21 on: May 29, 2015, 11:58:32 PM »
Just for additional information.

The price of most exchange funds were lower than the IPO price before September 2014. The price gain recently is related to the Policy change. The new exchange fund after the application approved, the Exchange will allow additional (up to 1,000) members to deposit the item to the fund before IPO.  Obviously, with the increased number of investors/speculators, the market becomes very volatile. For example, last Friday, China stock market was down more than 6% and majority of the exchange funds at Nanjing Exchange were limit down (10%) and coin index fund was down 8.9%.

Offline wittu

  • Supporter
  • Trade Count: (0)
  • Jr. Member
  • **
  • Posts: 91
  • Karma: 19
Re: China Coin and/or Banknote Exchanges
« Reply #22 on: May 30, 2015, 02:29:02 AM »
Good morning,

you are unbelievable  N48

Why does the "real coin market" react this way?
I do understand, that prices can rise strong, when someone tries to get a high amount of one special coin, cause he wants to "open" a Exchange Fund.

But once a Fund exists and it´s official on the list.... like the Bu Unicorn: the price rises, just because there are many taken away physically from the market and collectors expect therefor higher prices ? Or is it possible to sell it to an existing fund?

Please write a Book. Your knowledge is too big ...

Greetings,
wittu  N48

Edit
Quality Standard? is there a kind of Quality standard besides just checking authenticity? 


             


Offline Sequoia

  • Trade Count: (0)
  • Jr. Member
  • **
  • Posts: 119
  • Karma: 2
Re: China Coin and/or Banknote Exchanges
« Reply #23 on: May 30, 2015, 09:16:36 AM »
Thanks Poconopenn.
I very much appreciate the information.
Best wishes.
Sequoia

Offline pandamonium

  • Supporter
  • Trade Count: (0)
  • Hero Member
  • *****
  • Posts: 1944
  • Karma: 23
Re: China Coin and/or Banknote Exchanges
« Reply #24 on: June 14, 2015, 12:01:07 PM »
The Coin Exhanges buy notes, MCC and cu-ni.   Do the Exchanges buy Empire Chinese coins?    (I have called it the 100 yr old coins but Empire is the correct name)..........

Offline poconopenn

  • Supporter
  • Trade Count: (+7)
  • Hero Member
  • *****
  • Posts: 2539
  • Karma: 219
Re: China Coin and/or Banknote Exchanges
« Reply #25 on: June 18, 2015, 01:59:15 PM »
Update (statistic data at 6/18/2015)
   
The price of exchange funds at Nanjing Exchange has dropped significantly since 5/27. Most coins are down from 20% to 50% with the exception of 2010 silver panda which has increased from RMB 1628 to 2403, up almost 50%. The IPO date for 2010 silver panda was 2/7/2015 with a valuation of RMB 360 and the peak price was RMB 2590.

Just for information:

The coins stored at Nanjing Exchange have to pass the authenticity test by PCGS. For circulated coins, the grade has to be 65 or better and for PM coins, the grade has to be 68 or better.

Offline ninteno

  • Trade Count: (0)
  • Newbie
  • *
  • Posts: 28
  • Karma: 3
Re: China Coin and/or Banknote Exchanges
« Reply #26 on: June 20, 2015, 05:30:58 AM »
poconopenn, thanks for all the information here, could you please post the link to the chart of the Nanjing exchange

Offline poconopenn

  • Supporter
  • Trade Count: (+7)
  • Hero Member
  • *****
  • Posts: 2539
  • Karma: 219
Re: China Coin and/or Banknote Exchanges
« Reply #27 on: June 20, 2015, 12:24:41 PM »
Here is the link to home page of Nanjing Exchange.

http://www.njwjsqbyp.com/

Link to 6/19/2015 statistic data

http://www.njwjsqbyp.com/show.asp?id=2016

Offline canadian

  • Trade Count: (+1)
  • Jr. Member
  • **
  • Posts: 124
  • Karma: 6
Re: China Coin and/or Banknote Exchanges
« Reply #28 on: June 20, 2015, 07:23:41 PM »
   
"The price of exchange funds at Nanjing Exchange has dropped significantly since 5/27. Most coins are down from 20% to 50% with the exception of 2010 silver panda which has increased from RMB 1628 to 2403, up almost 50%. The IPO date for 2010 silver panda was 2/7/2015 with a valuation of RMB 360 and the peak price was RMB 2590."

Thanks for all the good information poconopenn. How is this impacting the price of2010 silver pandas on the street?

Offline poconopenn

  • Supporter
  • Trade Count: (+7)
  • Hero Member
  • *****
  • Posts: 2539
  • Karma: 219
Re: China Coin and/or Banknote Exchanges
« Reply #29 on: June 20, 2015, 10:00:49 PM »
Here is the table for market price vs. Exchange price for all exchange funds.
 
Column 1: product code
Column 2: product name
Column 3: Bid price at Beijing market.
Column 4: Bid price at Shanghai market
Column 5: Bid price at Internet
Column 6: Average bid price of Beijing, Shanghai and Internet
Column 7: Fair value (asking price) of market
Column 8: Average price of previous 5 days at Exchange
Column 9: Percentage of price deviation, (Column 8—Column 7)/column 7

2010 1 oz. silver panda (product code 805014 marked with a red arrow in the table) had a market bid price of RMB 421 and asking price of RMB 548 vs. Exchange price of RMB 2324.

Link to the website of this table.

http://www.njwjsqbyp.com/show.asp?id=2018