Help - Buying a PCGS Slabbed Coin from China!?

My question to the seller would be "Why are you paying $250.00 for a coin that the seller himself shows in one of his photos, only books at $10.00?".

In my lookup, NGC has it at $37.00 in MS 60.

It's hard to believe that the change from 60 to 63 is a more than $200.00 jump.

The coin is made of aluminum.

What am I missing here?

 

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Conditional rarity? Especially with a lightweight circulation quality aluminum coin it may be pretty beat up in the distribution process and anything better than a 60 may actually be rare.


Also just because the seller asks 200 doesn't mean it's worth 200...

 

Catalog values for these types of coins in uncirculated grades are erroneously low for many issues that are actually quite rare in high grades. Advanced collectors who appreciate the true rarity of such coins will pay a fair price, and that sets the market value for these. Catalogs haven't caught up yet.

 

Dont

 

The answer is in your quote. The coin is made of aluminum. Finding these coins in nice shape is not nearly as easy as the price guides would suggest. Now, I don't know if the $250 is a good price, but it doesn't surprise me.

 

Same here, not worth the risk. Far too many fakes being produced in those countries.

 

I also do not like to buy from China, Russia, or Eastern Europe (I'd add Portugal to that list), but If a buyer has a connection with a dealer somehow (for example, bought lower-value stuff from them on occasions with no problems), then I don't see a problem with taking a risk with those sellers. I believe dealers are dealers, and if they are staying in business on eBay, then they know that burning customers with larger hobby budgets isn't going to serve them in the long run.

But it would be risk.

But just a "notch" or two higher than buying from an unknown seller that isn't from China, Russia or Eastern Europe. Especially considering the fact that there's plenty of scammin' sellers around in both Canada/USA.

One of my bigger worries is the postal systems in lots of those countries, just from several stories I've heard about things "going missing in the mail." Italy was included in the postal horror stories, too.

 

I find that hard to believe. I have ancient Greek, Roman, Indian, Islamic, and Chinese coins in my collection, as well as more modern coins from all around the world, including North Korea and the Soviet Union. This is, on top of my main collection of US coins and tokens. I don't feel like I've been limited in any way by not buying from China, Russia, or Eastern Europe, at all.

I'd consider buying coins from after the communist revolution, but not before that.

 

In all honesty the postal system and customs in many of these countries are a bigger risk than anything. As a buyer though it's more of an inconvenience as the risk on eBay is with the sellers. Italy is one of the worst by far that many people wouldn't suspect.

As mentioned PCGS and NGC have offices in China and there are plenty of legitimate coins sales happening, it's not just all underpriced raw fakes. That said it would be wise to not jump right into the deep end with it if someone is new

 

It's your decision, but you said everything I personally need to know. I don't buy coins from China. Unless they're Chinese, but the only Chinese coins I currently have came from a bargain box in an antique store in Georgia.

 

Too late to help you on this coin, but whenever I buy from a country in Europe or Asia that has sketchy postal service, I ask them to use EMS for the package. Never had any issues with EMS.

 

Well, yeah, but isn't it a little expensive to get ambulance service from Europe or Asia to the US? Or is that just another US healthcare thing?

 

DON'T DO IT!

 

Just say no

 

Then buy the coin. Didn't we do this already

 

You the same guy I've known all these years? Or are you a fake stand-in.........I can't believe you went through with the sale........

 

Stop discriminating by races and perhaps try to do some real numismatic studies! What's next - if you see an Asian coin dealer in the US, are you going to go up and ask if he or she is from China???

I have bought from this seller and did not have any issues.

For those that are not aware how scarce this coin is, 1943 is the year where Japan started showing signs of losing the war. Hence the Japanese puppet regime Manchukuo had to reduce coin mintage in 1943 as well as having to redesign their coins to smaller or lighter weight. Aluminium after all is a valuable metal.

The original old series 1 fen is struck at 1.0g.



The new and two year type had to be reduced to almost half of its weight - 0.55g



You can tell that Japan got pretty desperate when coins had to be struck in fibre in 1944 and 1945.

High quality Manchukuo coins have appreciated quite significantly in the past decade. I'm lucky that I started mine early. I would have thrown the towel if I are to start a complete set today.

 

Descriminating by races? Not even close. Chinese counterfeits are a huge problem all over the world, in coins as well art and antiques. The Chinese government doesn't care unless the counterfeits are of Chinese items. As long as their government doesn't care and refuses to do anything about it, the counterfeiters will continue. It's not racist. It's common sense.

I've never heard of anyone complaining about an Asian dealer in the US or anyone ever commenting about Japanese coins.

 

More than that, it's actually in every category and the biggest is by far electronics and clothes. That said again PCGS and NGC both have offices in China, there is plenty of legitimate numismatic business happening there. Many collectors can easily be like I will never buy from China, but for people that collect Chinese coins it's rather silly to rule out the country of origin.

While I doubt it's a racist issue, there are comments that just ignore the situation and add nothing to the topic

 

You cant fond anuthing wong. C H I N A !!!! China is the biggest counterfeiter in the world