Author Topic: 2017 summary of important matters/news of China Coins  (Read 778 times)

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Offline andrewlee10

2017 summary of important matters/news of China Coins
« on: 2017 Dec 28, 08:03:20 PM »
I have extracted the summary of important matters/news of China Coins of year 2017.


This is easy available information in China coin community. However, Many not disclose it to westerners due to the selfishness. Luckily, this is not my full time jobs else I would be like others and not disclose those information and/or select certain information to disclose to gain benefits. Information is king as many agreed.


I will do a bit of translation when free.




Offline andrewlee10

Re: 2017 summary of important matters/news of China Coins
« Reply #1 on: 2017 Dec 28, 09:17:41 PM »
1 Jan 2017


31 Dec 2016, Yang Song Lim apply to the court to urge the respective department to publish the actual mintage and melt quantity of MCC coins (precious metals) to protect the collector interest. This is the first time a public ultilize the legal right of this matter.


This might be the reasons which the proof reading MCC book did indicating the actual and planned mintage has been give free in 2017 Beijing Coin show that issue by the respective department. The book is bi-lingual with photo and description. A lot of errors in proof reading version as informed by the author and he will change it in the publish edition in early 2018. I predict more books will issue in 2018 and a trend will create by the market. The shipping cost is very high.

Take notes those official mints do have internal and external newsletter. Shanghai mint has it. However, Nanjing Mint does not have it. I am not sure about Shenyang and Shenzhen.


The old way of documentation and records of mint is incomplete. Thus, the book information is not 100% accurate especially need to combine all 4 official mints information from 1979 to now. Many document might loss or/and somewhere in the mints which cannot be known. This the reason of the  heated discussion of the 2001 small "D" silver panda coin as fake coin in China Mint forum which someone took the article of Official mint high rank officer article from China forum and start the conspiracy theory by them. The original article states clearly it highly possible as "fantasy coin" instead of "fake coin". The poster who is can read Mandarin well BUT never tell the truth.


The book is not 100 % accurate due to above reasons and unknown reasons BUT it shall be the best information which is not available to public at this moment. Those author are very well known and reputable in this fields and in the community.

This book mainly indicates for all fiat coin in precious metals only if I am not wrong. 

I have certain photo of the book if someone keen on it.

Edit by Jeru: Removed broken formatting tags.
« Last Edit: 2018 Jan 06, 04:19:33 PM by Jeru »
 

Offline andrewlee10

Re: 2017 summary of important matters/news of China Coins
« Reply #2 on: 2017 Dec 28, 09:20:24 PM »
The next translation and information will be about the fake news of MCM which has been withdrawing from their webpage after Martin Weiss comment on their page and my comments at CCF. This news publish by others in China Mint forum BUT fail to lure in other to it. 

Offline andrewlee10

Re: 2017 summary of important matters/news of China Coins
« Reply #3 on: 2018 Jan 04, 09:15:37 PM »
The next translation and information will be about the fake news of MCM which has been withdrawing from their webpage after Martin Weiss comment on their page and my comments at CCF. This news publish by others in China Mint forum BUT fail to lure in other to it.


30 October 2017
POBC has issued a formal letter ,"Circular on Strengthening the Management of Coin Derivatives" (JCG [2017] No. 166) “ to China Banknote Printing and Minting Corporation and China Gold Coin Corporation to immediate cessation producing and selling any items in RMB legal tender and any items which with similar design of pervious approved items by POBC without approval of POBC. Immediate stop selling any items which is marked with RMB and similar design if items which may be misleading to public. Immediate stop using the POBC, China Banknote Printing and Mint Corporation and China National Gold Coin Corporation name in any marketing activities of above matter. Not to produce any non-fiat coin aka medal of any major political themes and promote it as fiat coin rather than non fiat coin to mislead the market for profit. Cessation of any unauthorized person producing and selling the items with the main leaders of POBC AND key management of China Banknote Printing and Minting Corporation, China Gold Coin Corporation and their subsidiaries signature on the item certificate of authentic.
 
The above is the urgent circular issued by POBC regarding the recent chaos in selling those items by those affiliated enterprises.   

Edit by Jeru: Removed broken formatting tags
« Last Edit: 2018 Jan 06, 04:37:21 PM by Jeru »
 

Offline andrewlee10

Re: 2017 summary of important matters/news of China Coins
« Reply #4 on: 2018 Jan 04, 09:21:39 PM »
The next translation and information will be about the fake news of MCM which has been withdrawing from their webpage after Martin Weiss comment on their page and my comments at CCF. This news publish by others in China Mint forum BUT fail to lure in other to it.


30 October 2017
POBC has issued a formal letter ,"Circular on Strengthening the Management of Coin Derivatives" (JCG [2017] No. 166) “ to China Banknote Printing and Minting Corporation and China Gold Coin Corporation to immediate cessation producing and selling any items in RMB legal tender and any items which with similar design of pervious approved items by POBC without approval of POBC.  Immediate stop selling any items which is marked with RMB and similar design if items which may be misleading to public. Immediate stop using the POBC, China Banknote Printing and Mint Corporation and China National Gold Coin Corporation name in any marketing activities of above matter. Not to produce any non-fiat coin aka medal of any major political themes and promote it as fiat coin rather than non fiat coin to mislead the market for profit. Cessation of any unauthorized person producing and selling the items with the main leaders of POBC AND key management of China Banknote Printing and Minting Corporation, China Gold Coin Corporation and their subsidiaries signature on the item certificate of authentic.
 
The above is the urgent circular issued by POBC regarding the recent chaos in selling those items by those affiliated enterprises.

Edit by Jeru: Removed broken formatting tags


This the reason the 1 kilo 35th silver ball with legal tender and old panda design has been called back by China Banknote Printing and Minting Corporation and melted. It is not fully minted and many defective items too.

This the reason Tintcat start the low bidding after few bid in ebay as showed in China Mint forum. Tintcat up the start bid price immediately by giving other news in explaining it. He up the price to rocket high because there is no physical stock at reasonable price in market.

another sellers with 1,999 price and available stock 3 pc which are mainly defective items. I return the stock to him.

I will post the photo later. 
« Last Edit: 2018 Jan 06, 05:43:53 PM by Jeru »
 

Offline andrewlee10

Re: 2017 summary of important matters/news of China Coins
« Reply #5 on: 2018 Jan 05, 05:23:27 PM »
This the defective item I return and another piece with him

Offline badon

Re: 2017 summary of important matters/news of China Coins
« Reply #6 on: 2018 Dec 29, 05:24:46 AM »
30 October 2017
POBC has issued a formal letter ,"Circular on Strengthening the Management of Coin Derivatives" (JCG [2017] No. 166) “ to China Banknote Printing and Minting Corporation and China Gold Coin Corporation to immediate cessation producing and selling any items in RMB legal tender and any items which with similar design of pervious approved items by POBC without approval of POBC.

For "any items with similar design", that seems to include the Nanjing pandas, especially the Nanjing Temple of Heaven pandas. Have they been affected?
 

Offline andrewlee10

Re: 2017 summary of important matters/news of China Coins
« Reply #7 on: 2018 Dec 29, 05:27:42 PM »
30 October 2017
POBC has issued a formal letter ,"Circular on Strengthening the Management of Coin Derivatives" (JCG [2017] No. 166) “ to China Banknote Printing and Minting Corporation and China Gold Coin Corporation to immediate cessation producing and selling any items in RMB legal tender and any items which with similar design of pervious approved items by POBC without approval of POBC.

For "any items with similar design", that seems to include the Nanjing pandas, especially the Nanjing Temple of Heaven pandas. Have they been affected?


Items by PoBc. PoBc is taking care legal tender only. Easily by Google. All non legal tender not affected as Long as you not copy legal legal of PoBc. However this not affects private mint because they are privately owned and not control by china government. But PoBc can sue them via copyright. This the reason a lot private mints do not dare to issue coa but create a digital or/and fake coa to NGC in order to get their items graded and sell to market. This has been happening to few items sell by china sellers in ebay. This is the big GAP and differences of private mint and official mint in china. I am selling private mint items as customers demand but I did told them the differences for them in decision making rather than many keep bumping by saying it is nice, good , beautiful and no other’s mints can do as china minting company.