Silverstackers got a mention this time by Badon, which is pretty awesome. He addresses issues such as market manipulation and what to do in the current market. His addressing of market manipulation reminds me of when yennus got accused of manipulating Panda prices Full article here: http://www.livebusinesschat.com/smf/index.php?topic=4875.0
Hi Fishball, Thanks for posting the link. A very disappointed read. The market manipulation part is NOT cool. I NEVER, EVER accused Badon, Mr. Ge, or Peter Anthony involved in any market manipulation, whatsoever. NEVER. I said this "If you spend some time in jibi.net forum, you know there are a lot of market manipulation. Then that is the quick way smart people make quick money." I am talking about the market manipulation by the Chinese in China, and there are a lot of talking about this in the jibi forum. Many people got burnt. I will try to look for the url. There are a number of them. Many Chinese are opportunist and I hate that. I am afraid market manipulation is not the right word, I like the Chinese version but unfortunately this site cannot display Chinese word. I have very high regards for Peter Anthony, I bought his Panda book, I bought his pricepedia subscription. I probably have to get another copy of the Panda book from Peter. Same goes to Mr. Ge, I bought his 2 books (and multiple copies to give away). I go look for his articles published on various website, and I read them as I find them. Badon, as you know, is the reason I came to explore about modern Chinese coins. As a Malaysian Chinese, I never (yes NEVER) have good impression about China. We have mixed feelings about China I wanted to collect old Chinese coins but it is impossible due to the fake and forgery. Thanks to CCF, I know there is KONDI and dragondollar. It is now possible for me to look for old Chinese coins without fear. I will post another reply in CCF. Thanks.
Good point, I think there must've been confusion regarding your post. Maybe need to clarify to badon or redirect him to your post here. I agree. Chinese people are notorious when it comes to making the quick buck and shafting everyone in the process. They also corner markets and pump & dump regularly in commodities and food. Actually can display Chinese, forum supports it I have and yennus has some minor Chinese words in posts. Actually this problem exists for me too, I have around 1kg of old Chinese coins (circulated) but I can't be bothered with them as I need to grade them to sell. Kondi comes across to me as a massive rip off, no offense, but his MS69 frosted 1oz silver Panda he wants over $1000. Not sure about old chinese coins. The guy does give some great information on imperial coins etc though. Yeah good idea, clear up any confusion.
Have to agree... Nearly fell of my chair when I saw what he quoted Thor at CCF. Wonder if anyone will pay over $1000 for it
Doubt it. What he's trying to do is the same as a guy trying to sell a Big Mac burger outside a Mcd's at 100% markup.
I am keeping silent on this. My English is so poor I am afraid I got another mention in other forum. Hahahahahahhaha.
Hahah... yeah I remember that... that was very flattering and disappointing at the same time I'm really grateful that things have improved a lot since then... a lot of some really fantastic people have started actively participating more too... So much more to say, but I gotta run to meet 25Grizzlies for another day of Panda Hunting ... heaps of fun!
Have fun with Panda hunt, from what Ben's told me it's pretty awesome over there in China. Wish I was there
Yeah, it's pretty amazing every time.. Perhaps i should do tour groups in Shanghai ...Panda Tours I have told 25grizzlies he should write a book too... I want an advance copy.
I love that this post was already here when I signed in tonight. Keep up the good work! low, I'm sure you have read badon's response over at ccf by now, so don't worry about it. Miscommunication all around
All thanks to my esteemed host for a wonderful time in SH, Panda tours is a fantastic idea, there is none better than yennus to show you around! I'll be posting my impressions of Shanghai in a separate thread. However I will say that I'm a very happy Panda camper tonight! Another rare bear in the cave My apologies to Low... I misread the post and jumped the gun, glad to have your input here on the forum and totally agree that the Chinese are masters at relieving us of our paper! On re-reading your post you are simply sounding a warning and that's much appreciated. It takes a wise and cool head to avoid getting burned by (some of) them. Keep speaking your mind here, it's a vibrant market and we need input from many directions to help us all out. It'll be more of a brochure than a book, very reasonably priced, PM to register your interest :lol:
Next time mate, You got a year to save, stop buying MCCs (as if THATS gonna happen)!! Seriously though we'd have a blast.
Sorry for the off topic but i cant resist to write And you dont read the others posts :-( I dont understand if he think to take advantage of a newbie or if its he real price for the coins. For me is more cheap to travel by airplane to usa (600 to 700 uss the air ticket) and buy the coins here to buy from kondi At 3 x ebay buy it now prices Someone have any response for the buy sell trade in ccf? I have only the kondi answer.
Hi 25Grizzlies, Thanks. The market manipulation (or more precisely ) is for those commonly available, cheap, and mostly newer issue coins/banknotes/stamps in China. Just look at how many people got burnt with the 4th or 5th series RMB paper notes. It is scary, it is insane but that is China. Every stupid thing is possible. If you see a sudden hike in price for newer issue coins with large mintage, be careful. People also pushed up the common YSK dollar from $40-$50 (RMB) to close to $1000 (RMB) then market collapse. Those are common coins in China, and before that nobody care. In fact early last year we saw a stupid crazy price for NGC/PCGS graded British Trade dollar, and NorthEast Numismatics did email saying they foresee a market adjustment and that was before the market collapse. They are right and they warned people when these coins were selling at their peak. Northeast Numismatic is the one who rightly predict the market collapse of China coins when other keep saying, BUY, BUY, BUY and BUY MORE.
Hi Low, thanks heaps for your input. Though, try not to be so heavily critical about the coin scene in China. I was telling 25Grizzlies how I shared a lot of your viewpoints for many years. But after being immersed in the culture and seeing things from their perspective, my overall viewpoint has changed. There are opportunities and pitfalls in every market, not just in the Chinese coin scene. My wife was invested with some of the RMB paper notes, and did very well with them. I have met someone else that has done very well with the paper notes too. But like you said, some people got burnt. Thanks for your thoughts though. By discussing these things, hopefully more people will be able to make more educated decisions. Perhaps in the future we could create a sub forum for all PRC Coins ... but at the moment, my main attention is on the Panda subset
I just realized this thread title says #116 when it was in fact #115. The latest one (real #116) is now available here: http://www.livebusinesschat.com/smf/index.php?topic=4881.0 Badon addresses the large Panda coins and my piefort 1991 gets a worthy mention He's tweaked his recommendations slightly: Far too many coins, far too little money
