Author Topic: Are Chinese coins popular investments in Indonesia?  (Read 1334 times)

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Offline Birdman

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Are Chinese coins popular investments in Indonesia?
« on: July 02, 2012, 10:02:24 AM »
http://www.nytimes.com/2012/07/03/business/global/indonesians-flaunt-growing-wealth-on-the-road.html?src=busln

I wonder, are Chinese coins popular investments in Indonesia?...I wonder where all these newly rich Indonesians will be investing their money....

Wikipedia states that "Much of the country's privately owned commerce and wealth is Chinese-Indonesian-controlled, which has contributed to considerable resentment, and even anti-Chinese violence."

...So, might one speculate that the wealthy Chinese-Indonesians might be drawn to Chinese coins, but perhaps the broader population might shun them???...Any insights or thoughts regarding future trends?

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Re: Are Chinese coins popular investments in Indonesia?
« Reply #1 on: July 02, 2012, 11:32:25 AM »
An absolutely interesting question here.

Indonesia has always been a rich country. In fact a very rich country.

I stayed in Manado, which is located in North Sulawesi, for 1 year in 2003-2004. There is a saying (in Indonesia language) there - "Biar kalah nasi, jangan kalah gaya". Google translate this to "I'll lose the rice, do not lose the style."

Their priority is luxurious items first, food later. I did asked a local friend who worked in a small retail outlet selling mobile phone, about his daily sales. He replied about USD 10000. I was stunned. I assured you this figure is not off the mark, as I did spend few days sitting at the shop watching people buying mobile phone. That was 2003, and Manado is a very small town, so far away from Jakarta. Most of the local people earn a monthly salary of between USD100 - USD500.

I met some wealthy Chinese people there. Most of them have business in Singapore, and Thailand. They have lots of land in Indonesia. Their house is like palace. They send their children to western country for higher education, and their children probably will not come back to Indonesia.

I am not sure what the Indonesian Chinese thought of China. I only know the old Chinese people are more Chinese than Malaysian Chinese. The younger Chinese have been, more or less, localized. Many of them don't even understand a Chinese word.

No idea whether the wealthy people will invest their money into Chinese coins. Few years ago when I was collecting banknotes, I did meet a young collector who spends load of money on top quality banknotes. Really, really rich young man, perhaps from a rich family.

Offline davidt3251

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Re: Are Chinese coins popular investments in Indonesia?
« Reply #2 on: July 02, 2012, 12:19:43 PM »
cannot mail or courier Chinese numismatics to Indonesia due to current trade dispute (south china sea)

so i fedexed the item labeled 'medal' with no country of origin and fedex opens all indonesia bound packages before they are shipped (at least from canada) because if they dont they could get seized on arrival, triggering a claim by sender.