Keqin Sun: Monthly Report of Modern Chinese Circulating Coins

Keqin Sun

October is decorated by colorful autumn leaves, crystal-clear azure sky and spectacular views. Coin collectors seem to be attracted by such magnificence and pay less attention to the circumstance of the coin market. It is a common phenomenon in a bear market.

This month, the market for modern circulating coins appears to have reached a bottom and is being consolidated. The supply side has tightened, which indicates the circulating goods in the market are increasingly scarce. The demand side is poised for an opportunity to warm up the market, but such a moment is unpredictable and patience is required. However, there are many available opportunities at this moment, such as creating a collection when the market price is low or holding on to coins while observing the market trend.

Speaking of the market of modern circulating coins in October, a China 1986 circulating coin set in proof condition realized $52,800 (about 385,000 CNY) in the Stack’s Bowers October Rarities Night Auction. This lot demonstrates raw and natural oxidation along with minor misty toning.

The hammer prices of other circulating coin sets sold in October are listed below:

• China 1979 circulating coin sets in Mint State condition realized between $1,380 and $1,980
• China 1980 circulating coin sets in Mint State condition realized between $840 and $1,560
• China 1981 circulating coin sets in Proof condition realized between $1,920 and $2,640
• China 1982 circulating coin sets in Proof condition realized between $1,320 and $1,920
• a China 1983 circulating coin set in Proof condition realized $1,800
• a China 1984 circulating coin set in Proof condition (Shanghai Mint) realized $4,560
• a China 1985 circulating coin set in Proof condition realized $4,080

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The “Big Five” Fen coins should be greatly recognizable types in the circulating coin sector. Many collectors have tried to rummage around in their piggy bank for them. In fact, there are seven types, including China 1979 5 Fen, China 1980 2 Fen, China 1980 5 Fen, China 1981 1 Fen in Mint State condition, China 1981 1 Fen in Proof condition, China 1981 5 Fen in Mint State condition and China 1981 5 Fen in Proof condition.

The hammer prices quoted from Coin001.com are listed below:

• a China 1979 5 Fen graded NGC MS 67 PL realized 11,717 CNY (about $1,600)
• a China 1980 5 Fen graded NGC MS 67 realized 1,336 CNY (about $180)
• a China 1980 2 Fen graded NGC MS 68 realized 2,796 CNY (about $380)
• a China 1981 5 Fen in Mint State condition graded NGC MS 67 PL realized 18,824 CNY (about $2,575)
• a China 1981 5 Fen in Proof condition graded NGC PF 69 Cameo realized 5,408 CNY (about $739)
• a China 1981 1 Fen in Mint State condition graded NGC MS 67 PL realized 19,968 CNY (about $2,732)
• a China 1981 1 Fen in Proof condition graded NGC PF 69 Cameo realized 5,720 CNY (about $782)

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This month, the performance of early types of circulating commemorative coins was steady:

• a China 1985 Yuan - 20th Anniversary of the Tibetan Autonomous Region graded NGC PF 69 Ultra Cameo realized 18,206 CNY (about $2,491)
• a China 1985 Yuan - 30th Anniversary of the Xinjiang Uygur Autonomous Region (Mirrored Field) graded NGC PF 68 Ultra Cameo realized 27,040 CNY (about $3,699)
• a China 1986 Yuan - Year of Peace (Frosted Gap) graded NGC PF 69 Cameo realized 26,208 CNY (about $3,585)
• a set of three China 1991 Yuan - Chinese Arbor Day graded NGC PF 69 (Environmental Protection, Beautify the Future) to NGC PF 69 Cameo (Planting) realized 21,840 CNY (about $2,988)

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In October, the transaction volume of late Proof condition coins shrank. One of the reasons is the increased scarcity of the Proof condition coins sealed in their original mint box. Other reasons are the fact that coins that received high grade are gradually dispersed, the market appears to have reached a bottom and the collectors are sharing a strong wait-and-see mood. The major transacted coin types are concentrated in the “Animal series,” the “Heritage series” and the “Portrait series.”

The numeric grade of most China 1993 Giant Panda coins certified by NGC is between 66 and 68. The hammer prices are listed below:

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The hammer prices of other “Animal series” coins are listed below:

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The hammer prices of the “Heritage series” coins are listed below:

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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.