Author Topic: 1989 3.3 oz silver clear claw god of war & wealth NGC PF 69 UC $6500 in HK  (Read 17053 times)

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Offline badon

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http://www.liveauctioneers.com/item/9634350

Sold for $6500! Very fast, aggressive bidding. I was shocked. Nothing on ebay is that expensive. They're already getting bought up by people who saw it get sold in Hong Kong a few minutes ago.

Offline peng_you

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A few still available on ebay. I heard larger proof coins graded pr69 would start seeing premiums, but this..?
Peng_you

Offline peng_you

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This is why i will continue to try and "hook the whale" when selling coins i really do not want to sell.
Peng_you

Offline bigtc

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You never know when one might bite!    ;)

Offline adamc4

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I wouldn't put too much faith in one auction. Just as the PF69 Pagoda set for $25,000 was a poor indicator of fair market value this will probably be the highest realized price for a God of War & Wealth coin for a while. Either way though, if you want some clouded claw PF69's I'd gladly sell them for $6500. Rarer than this clear claw, and not even including the buyer's premium! What a steal...

Offline Pandora

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I have the Clouded Claw and Super Clouded Claw - both in screaming 69 grade. Fantastic coins - beautiful while fields!
If interested, please PM me with offer.

Offline badon

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I wouldn't put too much faith in one auction. Just as the PF69 Pagoda set for $25,000 was a poor indicator of fair market value this will probably be the highest realized price for a God of War & Wealth coin for a while.

This is correct. However, the Champion Hong Kong auctions tend to lead the market by a few months, so they're seen as an indicator of the direction for future prices, even if the bidders "overpaid" at the time of the auction. The god of war & wealth has been one of my top picks for a long time now, due to its high cultural significance and potential for high popularity.

The rarity is just a bonus that will solidify investor success with this coin, from that perspective.

Offline davidt3251

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Yes Adam, *someone* has to go first. You never know, like the Pagodas there may be people sitting around with $400 coins saying what I made 30x my money. Then the auction on ebay only sells for $2000 and they are happy. Why you say. Its psychology. They decided to sell and after that, price doesnt matter so much. Expect more cheap God of Wealth, like Pagodas.

Offline Pandora

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A coin sold in HK auction, with many bids, represents stronger consolidation of price than the one sold in private deal. I think it is a very real leading indicator in the market. It may not sell again for 6500 (peak), but average prices may be still above 4000 for nice 69 coins.

Offline badon

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Expect more cheap God of Wealth, like Pagodas.

There are already cheap god of war & wealth coins on the market - the WESTERN market. This auction has shown us that the best market for these coins is the EASTERN market. Nearly all of the aggressive bidding came from people attending the auction, not from people online. The people online probably know about the availability of these coins for less money on Ebay, and that's why online bidders stopped bidding after $1500. The cheapest coin on ebay was priced at exactly $1500.

There's another clue to glean from the auction. People who see these coins in person are impressed by them. People who see them online are less impressed. Watching people's reactions when they see these coins in person is pretty interesting. No photo does them justice. You feel the weight, you see the size, and you see the incredible contrasting frosting and mirroring.

So, to sum up, here's the reasons the HK auction brought such a huge price:

* Eastern buyers in Eastern market
* In-person "WOW!" effect from a beautiful coin
* In-person buyers not familiar with the Ebay market
* Coin is very rare in the Eastern market

That last point is the best one. These coins have been leaving China for the West since 1989. This HK auction is one of the few that has gone back to the East. Western buyers knew these coins would be hot in China eventually, so they bought them all up. Western buyers were the ones to drive the prices up from bullion value to their current Western price of $1500. Eastern buyers have seen so few of these that when one comes available in a high grade, they jump on the chance to get it.

That is all you need to know about where these coins are going - back to China. Western buyers let prices drop from $2200 to $1500. Eastern buyers are pushing prices back up again, and bringing them home.

Offline Pandora

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There are already cheap god of war & wealth coins on the market - the WESTERN market. This auction has shown us that the best market for these coins is the EASTERN market. Nearly all of the aggressive bidding came from people attending the auction, not from people online. The people online probably know about the availability of these coins for less money on Ebay, and that's why online bidders stopped bidding after $1500. The cheapest coin on ebay was priced at exactly $1500.

There's another clue to glean from the auction. People who see these coins in person are impressed by them. People who see them online are less impressed. Watching people's reactions when they see these coins in person is pretty interesting. No photo does them justice. You feel the weight, you see the size, and you see the incredible contrasting frosting and mirroring.

So, to sum up, here's the reasons the HK auction brought such a huge price:

* Eastern buyers in Eastern market
* In-person "WOW!" effect from a beautiful coin
* In-person buyers not familiar with the Ebay market
* Coin is very rare in the Eastern market

That last point is the best one. These coins have been leaving China for the West since 1989. This HK auction is one of the few that has gone back to the East. Western buyers knew these coins would be hot in China eventually, so they bought them all up. Western buyers were the ones to drive the prices up from bullion value to their current Western price of $1500. Eastern buyers have seen so few of these that when one comes available in a high grade, they jump on the chance to get it.

That is all you need to know about where these coins are going - back to China. Western buyers let prices drop from $2200 to $1500. Eastern buyers are pushing prices back up again, and bringing them home.

Fantastic summary Badon! I have always thought eBay is very little penetrated by Chinese buyers. The limited number of HK auctions are not enough avenues to reach out to chinese market. We need more outlets to reach them from US. Perhaps a small dedicated US dealers coin show in HK or Shanghai?

Offline r3globe

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I think part of the western price volatility is due to the western buyer's (including myself) flipping mentality. They want to buy it today and sell it for big $$$ next day. The eastern buyer (generally speaking) buys and holds for years. With such ultra low mintages of these coins/medals, these prices fluctuations will seem like "noise" in a few years.

Offline adamc4

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Another reason I'm incredibly hesitant to establish "fair price" for this coin anywhere close to $6500 is because just a week before this auction five of the God of War & Wealth coins came up for sale from Stacks in Hong Kong and all brought around $1040 with the buyer's premium. All of the reasons why this coin supposedly went for such a high price (eastern market exposure, in person wow factor, rarity in eastern market) should have been equally supportive of the five other God of War & Wealth coins... but they weren't. Obviously time will tell and future auctions will reveal whether $6500 was a fluke or indicative of further price appreciation. Until then, it's a $1000 raw coin in my book.

Offline peng_you

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Or a hoax...?
Peng_you

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Or a hoax...?
As in "shill bidding"?