Pandacollector.com. China Pricepedia 1. News, Views & Price Guide to the World s Most Exciting Coins. December-January 年 12-1 月

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1 Pandacollector.com China Pricepedia 1 News, Views & Price Gide to the World s Most Exciting Coins December-Janary 年 12-1 月 Spotlight on MAca China Coin News Panda Coin Prices

2 The China Pricepedia MCM Index: December MACAU NUMISMATIC SOCIETY SHOW OPENS EYES by Robert Mish Editor s Note: It is an honor for China Pricepedia to bring to readers an insider s view of the recent Maca coin show and action. My thanks to Mr. Robert Mish, the President of Mish International Monetary, for contribting the following article. channeling their scholastic criosities and new fond discretionary income into stamps & coins. It was a time of discovery, a time when not only was the hobby learning which coins were trly scarcer than others, bt the treasre hnt for valable coins was It seems everybody is talking abot it. Paraphrasing, Did the gold and silver China- Maca show pandas really go for $43,700 & $24,150 in the MNS show action and why? The answer is yes. I was there. It was real. I was the gest actioneer. To nderstand why along with nderstanding what is happening in China still lcrative. In 1964, when I took my first table at a coin show, the borse was crowded not with dealers and mint officials, bt with enthsed yong collectors. Fast forward 50 years to Maca SAR China Can yo image a city of jst 575,000 people having nearly 400 active members of their coin society? Prior to WW2, Maca was a clster of which will contine to matre for generations David Chio (director of Maca Nmismatic Society), Hang Zhicheng (honorary chairman of Maca Nmismatic Society) and Michael Cho of Champion Action sleepy fishing villages over three islands. It to come, I recall my memories of nmismatic development in the USA dring the 1950 s & 1960 s. A new generation of motivated collectors were All prices, commentary and contents are opinions. The pblisher assmes no responsibility or liability for any 2 transitioned in 1999 from a Portgese colony to a China special administrative region. Prosperity has since come from an expansion and modernization of

3 the gaming indstry, torism & conventions, clothing & textile manfactring, and a real estate boom. In two years a freeway with bridges will connect Hong Kong and Maca via the China coast, driving time a little more than one hor. For Maca, things will only get better. First generation millionaires and their filled not only by MNS officers, bt by banking and government officials, pls bsiness and media dignitaries. Joining them was Michael Cho of Champion Actions, the official actioneers who helped pblicize the MNS event throghot Asia and America. The highlight of the ceremonies was the children can now afford to prchase, stdy and preserve The Maca gold 2 once panda opens at $3000 before a flrry of bids drove it to $43,700 with commission nveiling of the China Maca SAR commemorative their cltral history, among which is coins. Even the working class has discretionary income now. It is a process similar to what accelerated in the USA after WW2, and to what began in mainland China after the economic reforms. The 2014 MNS coin show opened late Thrsday afternoon Nov 27 with well friendship show pandas. Most everyone, whether they had seen the drawings or not, were awed by their beaty, details, and workmanship. Ribbon ctting participants were given one of the 26 pattern copper and brass panda presentation sets. Television and newspaper coverage followed. Later that evening, the MNS hosted a very fine dinner for all the attended coin exhibits, socializing, and an From L: John Cristianson of Excelsior Coin Gallery, Dr. Frank Laiacona from Emerging Market Grop and Charles McGregor from NGC dealers, special gests and show staff. A few opening ceremony ribbon ctting that rivaled the caliber one wold see at a smmit meeting of international leaders. Thirteen chairs on stage were All prices, commentary and contents are opinions. The pblisher assmes no responsibility or liability for any 3 short remarks, thank yo s, award presentations and drawings all focsed on recently released nmismatic books. Edcation was notably the parent of all the

4 other show activities. MNS president David Chio explained it is seen as molding the ftre of the hobby in Maca and adjoining regions of China whose nmismatists were attracted to the show. Unlike or shows back home, set p for Rick Stezler and Adam Biagi coins. What did srprise s (even thogh we were tipped ahead) was the interest in any old coins of the world, inclding bt not limited to Eropean trade dollars that once circlated in the region, and coins of other Asian contries, even those from coin bsiness wold not begin ntil the next day. Bt oh what a day that trned ot to be. It was Friday and the borse floor started ot as most all coin shows do, with a flrry of activity as both table dealers and walking dealers scanned each other s goods. Bt nlike some when they were colonies. My next srprise was when I took a qick beverage break, going down one floor past the theater where the MNS edcational seminar was rnning all afternoon. Over 80 people were in the adience. I conted shows at home, the floor got bsier into the late afternoon and evening as attendees finished school or work. Satrday was the bsiest of all for pblic attendance. Maybe 1/2 of those in Gests at the 2015 Pande debt cold hand-strike Panda medals. them. Unheard of at a U.S. coin show. One thoght: Maca coins will not be cheap in 10 years. And, a portion of the new money will help fel the next wave higher the room were at a coin show for the first time, bt we did not mind answering their qestions becase they were so real and trly fascinated. Vintage Chinese coins solicited the most interest, followed by modern PR China and Portgal-Maca All prices, commentary and contents are opinions. The pblisher assmes no responsibility or liability for any 4 in modern China coins as well. Relaxed vales will be history. Meanwhile, the lines at the show panda distribtion booth for member pick-p and limited pblic sales were getting longer. Even restricting

5 MNS members to one silver panda per person took abot 400 of the 1000 mintage at the local isse discont, eqivalent to US$110. One hndred more were sold to the pblic, again one each. Sch distribtion near cost was the discretion of the MNS, insring the affordability for Maca collectors who were so prod to have their memento. The remainder was pre-contracted to distribtors in mainland China, Taiwan, Japan, Korea, and the USA to be sold strictly one per person at the 1898 pattern dragon dollar and a Ynnan Spring 1910 dragon dollar, both NGC certified. Many dinner invitees took trns being photographed holding these rarities. Into the dinner, some noted speakers shared their particlar nmismatic experience with passion. Among them was Adam Biagi who writes for this pblication. Adam spoke on the growing market for Sotheast Asian coins with focs on the market rate. The 10 pieces of 2 Robert Mish at Maca dinner form with renown China coin and crrency designers Rocky Zhao (left) and Zhao Qiming (right) traditionally inexpensive coins which are now realized once gold pandas were pre-designated for the Mint msem, show organizers and speakers, with the #1 gold to be actioned that Snday, proceeds fnding both ongoing and ftre MNS edcational programs. Satrday night s banqet dinner was hosted by Champion Actions. CEO Michael Cho traditionally hosts a dinner at important Asian coin shows and it is always first class. On exhibit in the room were some of the highlights of the many vintage China nmismatic rarities which wold be actioned the next day. Designated for a ftre action bt generosly on display were two coins each with a million dollar history: a Hnan Province All prices, commentary and contents are opinions. The pblisher assmes no responsibility or liability for any 5 to be scarce, and in particlar grade rare. Adam s passion is contagios. I learned a lot, even after 50+ years of my own in the same field. I was also honored to be a speaker, and asked to give a history of all the China show commemorative friendship pandas. It was a sbject with perfect timing after the day s excitement over the 2014 Maca panda distribtion and the next day s action of the #1 gold and silver two once pieces. Condensing two hors of presentation and side stories into an imposed 30 minte limit (inclding translation) was not easy bt I made it throgh. Editors are working on an English langage

6 video which hopeflly will be available in Janary pon reqest. My talk chronologically worked towards the Maca show pandas which was easy to talk abot and helped perk p the attendees. I noted: It is the first 2 once size panda since the 1991 and the first show panda of its size both in gold and silver. international show Panda since It is the first show Panda ever to have the commemorative s serial nmber strck in the field. (the only other P.R.China isse that qalified for serial nmbering on the face was the 2013 Shanghai Memory isse honoring the WW2 Jewish refgees who were protected by the Chinese people). It is the first high relief Panda. It is the first strck concave with incredible detail and a high rim to protect the design. It incldes both the famos motifs of Maca, the race car and St. Pal s Cathedral wall. Based on feedback at the show, all these firsts added to the desire of the Maca and China mainland collectors to own one, and led into the big event on Snday: The Champion Action which inclded not only nmeros world class China Empire & Repblic coins, bt a modern P.R.China section It is the first China isse to portray both the Panda and the lnar animal in its crrent year (on the front race car, not necessarily a Ferrari!) highlighted by lots #446 & #447, the gold then silver Maca pandas with serial nmber 001. Nobody expected the bidding to reach the levels it did. Bt looking back now, I can nderstand why. The fonding year of the MNS, 1988, is represented by #88 on the grill of the second race car. It was strck with state of the art technology and attention to detail at the Shanghai Mint, which has not strck an In fact, I think the gold went cheap. After the initial clster of hands ran the bids throgh US$10,000, only five floor bidders remained: A Hong Kong dealer, a Taiwan collector, a Singapore rare coin fnd manager, a renowned Panda collector from mainland China, and one of the most respected All prices, commentary and contents are opinions. The pblisher assmes no responsibility or liability for any 6

7 collectors (and wealthiest men) in Maca. Above $25,000 it was a test of wills between the mainland collector and the Maca gentleman. In the end, the mainland Panda King kept his title. Some say expensive bt with a mintage of 10 we may look back someday and appreciate his vision. The silver 2 once was next, and it took $24,150 for Panda King to complete his #1 set. The lengthy adience applase was qite appropriate for his bold prchase. The MNS locals so mch appreciated that their nmismatic edcational program was abot to be fnded by $67,850 as all the proceeds for these #1 pandas was being donated by Champion and the program estimated at $80-120, broght $506! The scarce 1978 nickel 100 Patacas race car with ads in NGC MS67 broght $2645. I noted that while the vintage section of the action featred many important rarities the modern section had mostly inexpensive coins along with an nsal array of seldom seen China Mint medals. I asked Mr Cho how he cold give expensive space to so many interesting bt entry level coins & medals. He explained for one, it brings new collectors to the action & the hobby. This was cstomized in particlar for the new market in Maca. Also, Mr Cho is of the opinion that it is a disservice to consignors, to estates and to the indstry to force partners. Overall the Royalex Grop feed their good coins to action at at time when action went qite well particlarly throghot the vintage coin section as floor bidders competed with internet bidders sometimes with lengthy advancements. The remainder of the modern P.R.China coins and medals were soft to mediocre in the action, reflective of how things have been in this market all year and as well at all other actions involving modern China. One highlight of the modern section was the bidding for the Maca coins. A 2004 silver 100 Patacas Monkey, NGC PF69 UC, All prices, commentary and contents are opinions. The pblisher assmes no responsibility or liability for any 7 liqidity is weak. The pnishment is magnified by commissions which can reach p to 20%. This can be win-win in both stable and advanced markets, bt is painfl after a free fall feled in part by too many coins p for bid at the worst time. This was one reason he sspended his actions of modern Chinese coins dring the downtrn of Instead of panicking which contribtes to overreactions, he believes we shold be nrtring new collectors and qietly trading person to person

8 at the relaxed levels. It is dring these times, he noted, that coins move from weak hand to strong hands. Ergo, from players to real collectors and nmismatists. Vintage Chinese coins have already started back p in vale, and he believes that modern shold be held firm now as well as smartly accmlated if yo are able at crrent levels. Mr Cho is confident that one day in the next year or few, a conflence of In China, in Maca and as well for several Asian contries, nmismatically we are still yong. New generations are attracted to the history, geography, economics, art, and cltre that coins bring to life. Crrent generations already with interest are acqiring the means to collect. There is so mch growth ahead. And so mch to be discovered and learned. Maca: I can hardly wait ntil next year. factors will case them to sddenly take off as they did in late All prices, commentary and contents are opinions. The pblisher assmes no responsibility or liability for any 8