A once a year event, the Beijing International Coin Expo will open its doors on the 24th October in Beijing. This year it will also be playing host to an exciting round of auctions. The total value of these 596 lots going under the hammer has an estimated value of over 16,000,000 yuan, and includes modern precious metal coins from both inside and outside China, as well as badges, banknotes, and circulating commemorative coins.
While the coin market may have been somewhat flat and a little on the damp side recently, and while this will no doubt have a certain influence on the auction this year, this has given the organisers an extra incentive to pull out all the stops to popularise the event and spread the word among collectors:
As a first step, the Expo has invited China’s own national coin grading service, CNAG (China National Gold Appraisal Ltd.), to be the key appraiser for the event – reportedly in an attempt to encourage the better future development and awareness of the coins market in China, as well as to increase the appeal and value of certain lots which have received ratings under the national system.
This year the organisers have purposefully raised the number of auctions without reserve to the level of those seen at other international events. The idea is that this should serve to strengthen the interest in the subject matter and artistic qualities of these coins. Among these themes are several important and significant historical events and personalities dating from the founding of the PRC, as well as the ever popular Lunar coins.
The China Gold Coin Incorporation, serving as a stalwart support for the event, is supplying the auction with 7,800,000 yuan’s worth of lots, and has announced that among them will be 35 items with certificates bearing the much coveted ‘number 1’. Highlights of these 35 lots will include the 2012 Year of the Dragon 1 kg gold scallop coin (mintage 118), as well as the 2014 Year of the Horse 2 kg gold coin (mintage 100).
The so-called “old rarities” or 老精稀 (coins issued a relatively long time ago with comparatively low mintages, and of which there is a poor market supply) typically serve as a barometer for the coin market and attract the attention of collectors and enthusiasts from around the world. In a further attempt to draw in potential bidders these coin types will be making a significant appearance at the Expo this year.