Keqin Sun: Monthly Report of Modern Chinese Circulating Coins

Numerous clouds covered the sky during the Ching Ming Festival, and the price trend of modern circulating coins was like the weather: gloomy and remaining in a bear market. According to previous market patterns, collectors prefer to purchase or trade collectibles during such time periods. At present, collectors who seek coins in excellent condition have become the protagonists of the market. Coins in original condition were eagerly sought by collectors, especially the ones encapsulated with the NGC Original Condition label.

This type of special label was jointly launched by Numismatic Guaranty Company (NGC) and Coin001.com. The price difference between coins encapsulated with the NGC Original Condition label and regular graded coins is continuously growing.

Section of Circulating Coins

In March, the prices of the Great Wall coins were generally stable. A majority of collectors were seeking coin sets in outstanding condition. A China 1980 Great Wall circulating coin set encapsulated in a small-sized black case and accompanied by an official notification form issued in 1980 by the Issuance Warehouse of the Yunnan Provincial Branch realized 26,400 CNY (about $3,650). This type of official notification form is extremely rare. It could be recognized as a historical document as well as a symbol of the small-sized black case set.

The prices of China 1979 circulating coin sets were still experiencing a decreasing trend, the prices were generally between 9,000 CNY (about $1,240) and 10,500 CNY (about $1,450). In the 2024 Spring Auction held by Coin001.com, a China 1980 circulating coin set encapsulated in a blue leather case realized 20,900 CNY (about $2,890). The condition of the 1 Yuan coin from this particular set is outstanding. It demonstrates a rich and elegant toning. The finely frosted design pattern offers a strong contrast with the mirrored field.

Meanwhile, the hammer prices of China 1981 circulating coin sets in Proof condition were between 14,300 CNY (about $1,980) and 17,709 CNY (about $2,450); the hammer prices of China 1982 circulating coin sets in Proof condition with above-average appearance were between 11,880 CNY (about $1,640) and 16,775 CNY (about $2,320); the hammer prices of China 1983 circulating coin sets in Proof condition were between 15,612 CNY (about $2,160) and 18,700 CNY (about $2,580); the hammer prices of China 1985 circulating coin sets in Proof condition with above-average appearance were between 36,177 CNY (about $5,000) and 48,277 CNY (about $6,670).

A China 1981 1 Yuan Great Wall graded NGC PF 68 Ultra Cameo realized 29,700 CNY (about $4,100); a China 1983 1 Yuan Great Wall graded NGC PF 69 Ultra Cameo with the NGC Original Condition label realized 26,400 CNY (about $3,650); a China 1984 1 Yuan Great Wall (Shanghai Mint) graded NGC PF 68 Ultra Cameo with the NGC Original Condition label realized 37,497 CNY (about $5,180); a China 1984 1 Yuan Great Wall (Shenyang Mint) graded NGC PF 69 Ultra Cameo with the NGC Original Condition label realized 20,900 CNY (about $2,890).

A China 1986 1 Yuan Great Wall graded NGC PF 66 Ultra Cameo realized 143,000 CNY (about $19,750). This lot is the only NGC-graded example in its type that earned the Ultra Cameo strike character. A China 1986 5 Jiao graded NGC PF 67 Cameo realized 46,200 CNY (about $6,380). This lot demonstrated excellent condition. A China 1986 1 Jiao graded NGC PF 68 realized 48,400 CNY (about $6,690).

Circulating Commemorative Coins

Greatest Rarities:

A group of three China 1984 Yuan 35th Anniversary of the People’s Republic of China (Shanghai Mint) graded NGC PF 68 Ultra Cameo (Cranes) and NGC PF 69 Ultra Cameo (Speech, Dancer) with the NGC Original Condition label realized 187,000 CNY (about $25,830). The hammer price of this lot has increased compared to the previous transaction records, which was against the general market trend.

A China 1989 1 Yuan 40th Republic Anniversary graded NGC PF 67 Ultra Cameo realized 101,200 CNY (about $13,980); a group of three China 1991 1 Yuan 70th Anniversary of the Chinese Communist Party graded NGC SP 68 (House of Shanghai) and NGC SP 69 (House of Kweichow, Tiananmen Square) realized 134,200 CNY (about $18,540); a China 1993 1 Yuan 100th Anniversary of Song Qingling Bank Specimen graded NGC PF 69 Ultra Cameo realized 132,000 CNY (about $18,220); a China 1995 1 Yuan U.N. Women’s Conference graded NGC PF 66 Ultra Cameo realized 63,800 CNY (about $8,810).

Rare, Elegant and Historical Types:

With regards to the China 1985 1 Yuan 20th Anniversary of the Tibetan Autonomous Region, China 1985 1 Yuan 30th Anniversary of the Xinjiang Uygur Autonomous Region, China 1986 1 Yuan Year of Peace, China 1991 1 Yuan - Chinese Arbor Day and other similar types, the coin condition has an increasingly obvious impact on its price.

For example, the hammer prices of moderate examples of the China 1985 1 Yuan 20th Anniversary of the Tibetan Autonomous Region graded NGC PF 69 were between 16,000 CNY (about $2,210) and 18,000 CNY (about $2,490). The prices of examples in ideal condition were above 30,000 CNY (about $4,140).

The hammer prices of moderate examples of the China 1985 1 Yuan 30th Anniversary of the Xinjiang Uygur Autonomous Region graded NGC PF 69 were between 35,000 CNY (about $4,840) and 45,000 CNY (about $6,220). The prices of examples in ideal condition were above 70,000 CNY (about $9,670).

The hammer prices of moderate examples of the China 1986 1 Yuan Year of Peace graded NGC PF 67 were between 16,000 CNY (about $2,210) and 18,000 CNY (about $2,490). The prices of examples in ideal condition were above 45,000 CNY (about $6,220).

The hammer prices of moderate examples of the China 1991 1 Yuan - Chinese Arbor Day graded NGC PF 69 were between 15,000 CNY (about $2,070) and 17,000 CNY (about $2,350). The prices of examples in ideal condition were above 33,000 CNY (about $4,560).

Late Circulating Commemorative Coins:

The number of coins sealed in original packaging is gradually decreasing. Meanwhile, the prices of coins sealed in original boxes and packaging has reached the lowest point in recent years.

Based on the data collected from the coins submitted for the original condition grading service, it is difficult for them to earn a high grade. Therefore, the prices of late circulating commemorative coins have slightly increased. The detailed hammer prices are shown below for your reference:

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