NGC at the Beijing International Coin Expo
Posted on 11/17/2010
Among the most important annual coin shows held in China, the Beijing International Coin Expo provides an ideal opportunity to look at the previous year's coinage and look ahead to the next year. It is an event focused on modern coinage, with mints from Asia and around the world showcasing their coinage. NGC was present with its Guangzhou-based submission center, both accepting coins and providing information about certification. Additionally, NGC hosted an educational numismatic seminar conducted during the show.
Employees of the NGC submission center in China set up the trade show booth before the show opens to the public.
The Expo, jointly hosted by China Gold Coin Corporation, the China Banknote Printing and Minting Corporation, and the China Numismatic Museum, was held on November 7 to 10, 2010, in the China World Trade Center. Nearly 250 exhibitors from 27 countries were present at the 15th annual Expo. This event is very popular with the public. On opening day, large bustling crowds made it difficult to maneuver down the aisles. As in previous years, a special-edition commemorative coin was issued in celebration of the event. Owing to its popularity, the opportunity to purchase this coin is awarded in a lottery.
Throngs of collectors surround the NGC trade show booth once the convention opens to the public.
The Chinese coin market itself is extremely vibrant, with many scarce modern commemorative issues trading at record price levels. Collectors identify strongly with commemorative issues from the past 30 years that celebrate Chinese cultural heritage. In particular, large-format coins that are five ounces and larger are highly coveted, as many have small mintages. The NGC Oversize Holder is especially popular for these coins because of the inherent challenges of storing and transporting large coins.
It is also evident that certification is gaining a greater foothold in the Chinese market, as NGC-certified coins could be seen throughout the exposition area. During the official auction of the Expo, nearly a dozen of the 110 lots were NGC-certified. Once again this year, NGC was the only certification company represented in the auction.
NGC's symposium allowed Chinese numismatists a forum to communicate directly with NGC on important issues concerning certification and the rare coin marketplace.
NGC also hosted an educational symposium to discuss certification with prominent members of the Chinese numismatic community. A detailed discussion of the grading process and grading terminology was followed by an open question-and-answer session. "Certification is attractive to collectors in China for three major reasons: first, collectors appreciate the protection it affords against counterfeits, which are of concern even in the Chinese modern coin market; second, collectors value the standardization of grade, which makes it easier for them to identify superior condition coins; and, third, collectors love NGC's holder, which provides incredible long-term protection for their coins," said Scott Schechter, NGC vice president, sales & marketing, who presented at the symposium.
Future events in China attended by NGC will be posted on the events page.