Author Topic: Chinese Coins Live Presents........ The Overpriced Chinese Coins of eBay.com  (Read 921 times)

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Offline ccl

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Most of us realize that one of the most important decisions that can be made when collecting and investing in anything, Chinese coins included, is paying a fair market rate - or better still, perhaps a little less.

Disclosure: We are in the business of reporting market data. Using the same historical data that we have made available to all starting at $9.95 per month, we will highlight the most overpriced coins of ebay.

This educational supplement will hopefully serve as a resource for those interested in getting involved with Chinese coin acquisitions, and who knows, may even be pinned by moderators in time (hint, hint #leadingcomment).

I have no issues with people wanting to make large and generous profits on their coin investments, we all do ultimately. That said, I am motivated to do my part to mature the market for Chinese coins. We do this by lowering the dropout rate of market participants who pay way too much or buy fakes and making the barrier to entry more accessible, so anyone can safely get involved.

For this reason, acquiring authenticated coins by NGC and PCGS is really the only way to go if you are not experienced.

So without further delay, on the 11th day of January 2017, these are the graded Chinese coins with the most extreme list prices on ebay.com

#1 is 1907 Rupee L&M-427 Coin in PCGS XF45
Selling at Heritage Auctions (HA.com, great auctioneer) for $31,070 in December of 2016. The same coin is listed on ebay now for $61,670.
This rare coin doesn't show much so while the asking price is extreme, beauty is more in the eye of the beholder. I guess.

#2 $14705 and the 2016 1 oz Gold Panda Sino-American Numismatic Friendship Proof Medal in PCGS PR70DCAM is all yours.
Almost seductive in appearance, it sure loses it's appeal when you know that it sold 97 days ago for $5,170 at Great Collections.

#3 the 1999 1 Kilo Silver Lunar Completion Proof Coin in NGC PF69 went just over $18,500 in November 2012 so the $19,888 price on ebay is reasonable is it not. Not. The November 2016 no reserve auction on Zhao Online closed at $10,377 including buyer premium.

For #4 and #5, we'll look at those most extreme in % difference.

#4 1998 1/10 oz Gold Tiger Color Proof Coin in NGC PF69 ULTRA CAMEO. eBay price $5,588,70. Last sale 14 days ago for $977 at YJZX.

#5 2000 1/2 oz Gold Dream of Red Mansions Color Proof Coin in NGC PF70 ULTRA CAMEO. eBay price $8,846.50. Sold at Zhao Online for $2,034.62 34 days ago.

There is no need to vilify anyone. Remember, maybe they paid a huge amount themselves.

It doesn't matter, what does is that before you make a decision worth hundreds or thousands of dollars, you truly know what you are doing.

Offline fwang2450

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 N31

Offline 1668Chris

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While I find the price information extremely useful, collectors (and or investors) in the US are at a huge disadvantage.  As you say, 90+ percent of the market in based in China.  Therefore many price points are based on auction sites (yjzx, zhaoonline etc) that US collectors do not have access to.  I cannot tell you how many times I have tried to buy coins from US sellers explaining in detail what the current market value is of their overpriced coins.....which ultimately falls on deaf ears.  I find the best way to access these markets is to participate in the Hong Kong and Macau Auctions held by Stacks and Heritage.  Very easy to deal with.

In the end, barriers need to come down to put everyone on a level playing field.

Offline poconopenn

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Here is another example,

http://www.ebay.com/itm/331780938900?_trksid=p2055119.m1438.l2649&ssPageName=STRK%3AMEBIDX%3AIT

The fair value of this Empress Edition of Invention and Discovery set should be about $1,100-$1,300, not $8,900 by this seller.

Offline ccl

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Poconopenn, sure is. The 1988 5 oz Gold Dragon in NGC PF70 got listed soon after we posted this thread, that would have made the top spot

 N9 N34

Offline ccl

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Looks like someone has a nice sale coming up, $5999 for a 1996 1 oz gold unicorn!

We have 16 sales in the last 365 days for this coin. Conservatively, someone is paying double market value here. N35

It pays to be in the know.