Keqin Sun: Monthly Report of Modern Chinese Circulating Coins

Posted on 6/15/2023

NGC columnist Keqin Sun examines the Chinese coin market in May 2023.

Keqin Sun

The weather fluctuates between sunny and cloudy in May, which reflects the current market of modern Chinese circulating coins. According to the overall transaction volume, the price of the Great Wall coins, 1 Yuan with peony design, 5 Jiao with plum blossom design and 1 Jiao with chrysanthemum design were relatively stable; the price of early commemorative coins declined; the price of late commemorative coins increased. This offers a great opportunity for experienced collectors to buy collectible coins.

A series of highlights were featured in the 2023 Spring Auction held by ChengXuan Auctions and the Monthly Auction of May held by

Among the early commemorative coins, a China 1989 1 Yuan 40th Republic Anniversary graded NGC PF 67 Ultra Cameo is regarded as a pinnacle of modern Chinese circulating commemorative coins. This lot is in excellent condition with only minor imperfections. The mintage of this type of coin is 1,000 and it was never publicly issued. It was used as a gift coin by the People’s Republic of China and the Head Office of the People's Bank of China. This particular NGC-graded lot realized 161,000 RMB (about $22,500 USD).

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Another stunning lot that also has a great reputation among modern Chinese circulating coins was a 1987 40th Anniversary of the Inner Mongolian Autonomous Region. It is an outstanding example among the early Proof coins. This type of coin can be considered as a symbolic piece, with the mintage of 2,000 and never publicly issued. It has also been used as a gift coin by the People’s Republic of China and the Head Office of the People's Bank of China. This rarity contains dark toning that is rich and elegant. The NGC-graded lot realized 149,599 RMB (about $21,000 USD).

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In addition, a China 1985 Yuan 30th Anniversary of the Xinjiang Uygur Autonomous Region (Frosted Field) graded NGC PF 69 Ultra Cameo realized 48,695 RMB (about $6,8000 USD). A China 1986 Yuan Year of Peace (Frosted Gap) graded NGC PF 69 Ultra Cameo realized 56,160 RMB (about $7,900 USD). A China 1985 Yuan 20th Anniversary of the Tibetan Autonomous Region graded NGC PF 69 Ultra Cameo realized 20,532 RMB (about $2,900 USD).

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In May 2023, NGC started to offer an exclusive label for’s original condition coin submission service. It is exciting news and will be beneficial to the entire collecting community. has been attempting to provide more services for collectors. The original condition coin submission service is recognized by a large group of collectors. We hope to influence the market by conserving as many high-quality coins that are in their original condition as possible.

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Subsequently, both graded late circulating Proof commemorative coins and the ones from their original mint box present a significantly increased price compared to the same period in April. The market belongs to those who are prepared, so collectors are well-advised to do their research.

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The thoughts and opinions in this article are those of the author and do not necessarily represent the views of the Certified Collectibles Group.

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