Keqin Sun: Monthly Report of Modern Chinese Circulating Coins

Keqin Sun

September is enriched by fruity aromas and blossoming chrysanthemums. Everything is approaching its harvest moment. It coincides with the integral market trend of the modern circulating coins this month. According to our observations, despite the complexity of the external environment, the market of the modern circulating coins has been reborn through a metabolic process.

The market shows an obvious pessimism after the issuance of 2023 China National Parks (Three-River-Source National Park and Giant Panda National Park) bimetallic circulating commemorative coins. The market price of the National Park set has been declining since the issuance date and ultimately settled at around 20.6 CNY (about $2.80) per set. Bearing such market pressure, what kind of issuance plan is suitable for the upcoming Peking Opera circulating commemorative coins? Let's wait and see.

There is an interesting phenomenon that appears from the current market transactions. NGC-graded coins that contain a submission form number ending with either “001” or “008” are sought eagerly by Chinese collectors. It turns out that Chinese people are interested in numbers.

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During September, the market of the boutique modern circulating coins has rallied. Among the Great Wall coins, a China 1984 Yuan Great Wall graded NGC PF 68 Cameo realized 125,280 CNY (about $17,100). This lot demonstrates pale gold toning and elegant condition. The hammer price of this lot has increased by 36%, compared to the Great Wall coin in its type with same grade offered in July 2022 that realized 92,401 CNY (about $12,600).

Meanwhile, a China 1980 Yuan Great Wall graded NGC MS 69 realized 42,120 CNY (about $5,700). This lot demonstrates soft luster. A China 1985 Yuan Great Wall graded NGC PF 68 realized 38,988 CNY (about $5,300). The mintage of this type of Great Wall coin is 4,825. A China 1981 Yuan Great Wall graded NGC PF 68 Ultra Cameo realized 30,335 CNY (about $4,100).

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Both early and late circulating commemorative coins have performed impressively well in September. NGC’s certification services are highly desired by collectors. A China 1985 Yuan 20th Anniversary of the Tibetan Autonomous Region graded NGC PF 67 Ultra Cameo with an NGC original condition label realized 68,040 CNY (about $9,300). This lot demonstrates mirrored fields along with fine frost. It is a typical example reflecting the craftsmanship of the modern circulating Proof coins. This lot is the first coin in its type graded and encapsulated with NGC’s original condition label. It set a record for the highest price realized among coins in its type with the same grade.

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The China 1985 Yuan 30th Anniversary of the Xinjiang Uygur Autonomous Region Proof coins can be classified into two varieties, which have been named “frosted field” and “mirrored field.” The total mintage, which includes both varieties, is 1,400. Those coins are recognized as boutique collectibles. The coins shown below are each graded NGC PF 69 Ultra Cameo. The “mirrored field” lot realized 73,548 CNY (about $10,000) and the “frosted field” lot realized 59,400 CNY (about $8,000).

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A group of three China 1991 Yuan Chinese Arbor Day Proof coins were graded NGC PF 69 with the NGC original condition label. This lot realized 24,840 CNY (about $3,300). A China 1984 Yuan 35th Anniversary of the People’s Republic of China graded NGC MS 69 with the NGC original condition label realized 17,820 CNY (about $2,400).

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This month, the overall hammer prices of the late Proof coins that received high grades were slightly increased compared to the previous month. The collectors evinced a strong wait-and-see attitude. The hammer prices of the greatest rarities were increased. We are looking forward to the subsequent performance of the market.

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The thoughts and opinions in this piece are those of their author and are not necessarily the thoughts of the Certified Collectibles Group.