Author Topic: Graded Coins in China  (Read 8341 times)

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Offline pandamania

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Graded Coins in China
« on: November 13, 2010, 05:17:57 PM »
How well received are NGC/PCGS modern coins by buyers in China.

Offline Zerosum

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Re: Graded Coins in China
« Reply #1 on: November 13, 2010, 05:34:25 PM »
Good question. I've been wondering this myself. Anyone?

Offline badon

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Re: Graded Coins in China
« Reply #2 on: November 13, 2010, 05:39:22 PM »
Pretty well now. If you look at the photos from the coin shows in China, you'll see that many of the dealers there are selling only graded coins. If the buyers weren't buying, then the sellers wouldn't be selling. See for yourself:

http://china-mint.info/forum/index.php?topic=910.0

KonaJim

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Re: Graded Coins in China
« Reply #3 on: November 13, 2010, 05:43:07 PM »
I can say that the Chinese buyers that I work with seem to be very pleased to have graded coins.  They do like anyone also appreciate having the original box and COA.  A year ago I was very relunctant to break an original piece.  I felt as though the coin, the box, and the COA should be preserved in their original state.  Now however I feel differently.  Coins are about grading.  Could you imagine buying a diamond in a plastic package and then one day hoping it was high grade?  Grade is paramount, look at the difference in what a MS 67 versus a MS 69 brings today.  Hopefully some Chinese buyers will voice their opinions.

Offline badon

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Re: Graded Coins in China
« Reply #4 on: November 13, 2010, 05:48:08 PM »
In addition to that, the original packaging actually harms the coins by depositing corrosive chlorine compounds on the surface. I've seen even gold coins permanently damaged this way (no coin is 100% gold).

Offline pandamania

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Re: Graded Coins in China
« Reply #5 on: November 14, 2010, 08:34:25 AM »
There seemed to be an abundance of NGC graded coins in the Hong Kong Show pictures. Would this tend to indicate that NGC are more in demand and therefore what dealers carry. Or that PCGS are more in demand and the NGC`s are what dealers have left?

Offline poconopenn

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Re: Graded Coins in China
« Reply #6 on: November 14, 2010, 11:18:13 AM »
NGC has grading service inside China, starting later last year, while PCGS does not.

Offline pandamania

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Re: Graded Coins in China
« Reply #7 on: November 14, 2010, 12:07:17 PM »
NGC seems to have established itself quite well in China within a year. Do you suppose that the long term effect will have Chinese buyers gravitate toward NGC as the predominant grading authority?

Offline badon

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Re: Graded Coins in China
« Reply #8 on: November 14, 2010, 03:56:48 PM »
Yes, NGC is the most popular grader for Chinese coins worldwide. They have the fastest turnaround time, and the most expertise. They respond to new discoveries and new needs in the Chinese coin market faster than PCGS too. For example, I think PCGS still can't encapsulate large size coins yet. NGC has been doing it for around 2 years now, maybe longer.

Offline chinaconbuyer

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Re: Graded Coins in China
« Reply #9 on: November 20, 2010, 06:32:34 PM »
If you are tired of examining the quality of the coins through double re-sealed plastics in China, your desire for a graded coin would be pretty good. Owing hard to find coins raise a sense of pride, but one with some blemish would be a different feeling, is it? - You can bet on the demand in China. 
If you have any modern China coin for sale or have any question for China coins, email me: ChinaCoinBuyer@gmail.com  I offer high price for China coins.

Offline Kamil

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Re: Graded Coins in China
« Reply #10 on: January 13, 2011, 10:42:56 AM »
Dear Sirs and Madams,

thank you for your wonderful forum full of news and nice stories (and the great pics - of course) about chinese coins.
Although this thread is a bit old, I would like to revive it with some observations from chinese auctions:

3x 1/2oz Au 3 Kingdoms graded vs ungraded - $650 difference are too much as a premium for this grading (PF68UC-PF68UC-PF69UC)? Especially when compared to the $18.4k realized at Champion Auction 12, lot #517, in early December and the jibi reference from 21-12-10 with RMB120k.

Second, the 1992 I&D 1oz Au set in PF69 Ultra gained "only" 10% over jibi reference. Although jibi overprices coins when it comes to sums of $100k and above at about 10% (imo - you may judge by yourself, of course), the "lower" prices seem to be quite accurate.


Given these (only few) examples, would you recommend to pay a (big) premium for (excellent) graded scarce coins? There seems to be almost no reward in china in the upper money regions. (And since no one knows if it was conservated except the one who sent it to NCS, I wont pay a penny extra for a coin sold as conservated). Maybe it`s better rewarded and thus more advisable when dealing with coins with a higher mintage? Thanks for sharing your thoughts on this topic, they will be highly appreciated.



PS to the I&D-set: I didn`t know that the chinese invented the "urn". Thanks to NGC, this obviously important milestone in history is now known to me, finally  :thumbup:



Offline badon

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Re: Graded Coins in China
« Reply #11 on: January 13, 2011, 02:51:41 PM »
I do recommend paying the premium for excellent graded rare coins. The market for these is immature, and will only get stronger. Already, in the silver coins, we're sometimes seeing HUGE premiums being paid for top-quality graded rare coins, over raw coins of unknown condition or authenticity. In some cases, the premium has reached almost 100% - that's DOUBLE for a top-grade coin, over a raw coin.

Big price differences are going to become more common, as more and more low-quality coins are left raw, while the best coins get graded.

Offline mrslick32

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Re: Graded Coins in China
« Reply #12 on: January 13, 2011, 07:49:06 PM »
I like graded coins because they make the coins easier to look at, easier to store, and the slabs protect the coins very well compared to the original packaging. There are other reasons why I prefer coins to be graded like assurance of authenticity and quality but the first three reasons alone will be enough to let me pay a slight premium for graded coins. Of course the actual grade of the coin is what will make me pay an extra premium.

Offline PandaCollector

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Re: Graded Coins in China
« Reply #13 on: January 13, 2011, 07:56:29 PM »
How does everyone feel about a strategy of sending already slabbed coins in for conservatiion, if they are valuable or scarce enough? You might pick up a higher grade while having the peace of mind that the coin is less likely to deteriorate in its slab.

Best wishes,
Peter Anthony
http://www.pandacollector.com

Offline dobedo

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Re: Graded Coins in China
« Reply #14 on: January 13, 2011, 08:33:34 PM »
How does everyone feel about a strategy of sending already slabbed coins in for conservatiion, if they are valuable or scarce enough?
At what cost and effort? I personally don't think it's worth the trouble. I won't live that long to see the difference anyway :)