Author Topic: Another article on China repatriating cultural heritage (+record setting)  (Read 1901 times)

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Offline smbgaiden

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Unfortunately no mention of coins, but I liked the read anyway and wanted to share.

http://online.wsj.com/article/SB10001424052970203476804576613050373696270.html

Offline ghostrider80811

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thanks for sharing...

Offline exchange

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Unfortunately no mention of coins, but I liked the read anyway and wanted to share.

http://online.wsj.com/article/SB10001424052970203476804576613050373696270.html

The fact that no coins are mentioned is irrelevant. This is another sign of how strong the Chinese are buying their items back. This could be proof that  the cultural significance modern Chinese coins with low mintages either gold or silver will soon be on their list.
Many of these buyers may have yet to discover the beautiful art on the coins and it would compliment very well their current purchases.

Collectors who buy for example art and objects related to the Three Kingdoms would definitely be interested on those low mintage coins. How nice would it be to display a painting related to it thats a few hundred years old and have the coins next to it. Such a trend is very well possible.


And lets not forget an important variable, 1.4 Billion people. Even if only 1% of the population buys collectibles, thats over 14 Million people, that is without taking into account the increase in population in years to come.


exchange

Offline BChung

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"Now, Chinese buyers are making decisions informed by their own cultural upbringing rather than taking their cues from the West."

Exactly!!!! Wake up call for those who still insist grading will boom one day in the Chinese market. There will certainly be a niche, but it will never boom, it will forever be just a American "thing" (its not even a western "thing").

Just wait till the white spots start to develop in NGC graded coins in the Chinese investor/collectors inventory, once they start to come out NGC might as well start to pack their bags and go home. Chinese dealers who are buying graded coin is simply try to make as much money as possible before the flaws of graded coins starts to show up. Once this honeymoon period is over so will the value of graded coins in the Chinese market. Will a white spot silver coin still be a 69/70 just because its in a NGC 69/70 holder? Of course not, every time I look at my 83 S panda, I am furious that I paid 40% more than raw for a NGC 67 (looking at it right now, very very mad), which now is simply white spot infested and no way on earth it will be anything near even a 65. 40% premium offer me nothing but a complete delusion ( I feel cheated & I am cheated )  of ease of mind. I am glad this article is highlighting the fact that Chinese collectors simply have their own mind and doesn't always follow what the western taste blindly, especially the super rich. The ones who follows western taste or things is people in the middle class who wants to look rich and respectful or people like me who is simply IGNORANT. Well thank god I got burned and swore that I will never ever pay a premium of more than 10% for any graded coins. 

If NGC stuck to verifying whether the coin is real or not, I wouldn't be mad at all even if the coin start developing flaws. All I got to say is as a pissed off Chinese who used to be ignorant to Graded coins: "Fool me once, shame on you; fool me twice, shame on me" & I have no intention what so ever to make a fool of myself again.

Offline ghostrider80811

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"Now, Chinese buyers are making decisions informed by their own cultural upbringing rather than taking their cues from the West."

Exactly!!!! Wake up call for those who still insist grading will boom one day in the Chinese market. There will certainly be a niche, but it will never boom, it will forever be just a American "thing" (its not even a western "thing").

Just wait till the white spots start to develop in NGC graded coins in the Chinese investor/collectors inventory, once they start to come out NGC might as well start to pack their bags and go home. Chinese dealers who are buying graded coin is simply try to make as much money as possible before the flaws of graded coins starts to show up. Once this honeymoon period is over so will the value of graded coins in the Chinese market. Will a white spot silver coin still be a 69/70 just because its in a NGC 69/70 holder? Of course not, every time I look at my 83 S panda, I am furious that I paid 40% more than raw for a NGC 67 (looking at it right now, very very mad), which now is simply white spot infested and no way on earth it will be anything near even a 65. 40% premium offer me nothing but a complete delusion ( I feel cheated & I am cheated )  of ease of mind. I am glad this article is highlighting the fact that Chinese collectors simply have their own mind and doesn't always follow what the western taste blindly, especially the super rich. The ones who follows western taste or things is people in the middle class who wants to look rich and respectful or people like me who is simply IGNORANT. Well thank god I got burned and swore that I will never ever pay a premium of more than 10% for any graded coins. 

If NGC stuck to verifying whether the coin is real or not, I wouldn't be mad at all even if the coin start developing flaws. All I got to say is as a pissed off Chinese who used to be ignorant to Graded coins: "Fool me once, shame on you; fool me twice, shame on me" & I have no intention what so ever to make a fool of myself again.


That sucks man, the 83 Silver Panda is a keeper too.  To tell you guys the truth I also worry about WSOD on my silver coins/medals. 

Offline exchange

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If NGC stuck to verifying whether the coin is real or not, I wouldn't be mad at all even if the coin start developing flaws.


I am sure you are not surprised to hear I completely agree wih everything you said.

Something that Xu Hong has said recently on this board which to me is more evidence, and yet quickly forgoten.

"We bought more than 50 pcs of 2011 1oz silver panda in NGC MS70 holder.  Now, some of these coins get many white spots.  I guess coins like that can only get a 65 grade or so.  Will there be any buyers of white spoted coins but in NGC MS 70 at the same price as other MS 70 coins ?   After these graded coins showing to the marcket, coin collectors are becoming not so confident in NGC or PCGS or any other grading service.  Buyers may prefer to buy coins by their own judgement.  Some people is also saying like this: "The coin is made in China, why we shall send them to a foreign country for grading?  Why can't we judge a coin by ourselves? "   So buyers like this prefer to feel the coins themselves and buy coins if they think OK.  It seems more people are in this group now".

exchange
« Last Edit: October 07, 2011, 07:16:19 AM by exchange »