Coin Identification

Coins from ancient China date back to the founding of the Chinese Empire. These coins were continually circulated in China until 1911. Most ancient coins are identified by a hole in the middle. These holed coins, also known as Chinese cash coins, are very cheap. In fact, 99% of these coins are priced at less than USD 10.

Chinese spade moneys and Chinese knife coins are other forms of ancient Chinese coinages that resemble spade and sword, respectively. These coins are worth around USD 30.

There are thousands of Chinese coin types and it’s nearly impossible to identify Chinese coins without help. Out next step will require the aid of the best and the fastest resource there is - the Internet.

Does age affect the price of a Chinese coin? No. The large number of Chinese coins in the market is partly the cause. With many antique Chinese coins, it’s hard to find a rare coin. And take note that rarity affects a Chinese coin’s price.

Coin Evaluation

How condition is set for a coin depends on the coin’s age. So we’re going to make use of the information collected from the Identification step.

An ancient Chinese coin is easier to evaluate because its condition is equivalent to its final aesthetic appeal. Clear calligraphy and minimal wear are two features of an appealing ancient Chinese coin.

Grading requires aptitude and skills in pointing out slight differences. Search the internet for photos of coins similar to the one that you have. These images will serve as a starting point for evaluating your coins.

If you found similar coin type with a corresponding “grade,” then it’s better. Otherwise, we’re going to assume that this “sample” is a “VF” specimen of the coin type.

How coin grade affects the price of a modern Chinese coin? Take the Kuan Hsu Yuan Bao (5 cash copper coin) minted in Fujian Province as an example. A specimen with a “Fine” grade is valued at USD 25; a “Very Fine” sample is worth USD 38 while an “Extra Fine” is priced at around USD 60.

Coin Pricing

With the information gathered by the previous Identification and Evaluation steps, we can now proceed with setting an equivalent monetary value to the coins.

Your coin may not be listed in these online shops. This is when you need to consult coin price guides. I recommend the Standard Catalog of World coins because it has the most updated listings of Chinese coins.

There are several versions of the book with specific period coverage. For example, one edition will lists all recorded coins from 1901-2000. These books are available in libraries and in bookshops.

It is important to remember that the appraise value of a coin is only an opinion of the how much the coin is worth. The real value, or market value, of the coin is the price that someone is willing to pay for.

Finally, I will illustrate how condition, rarity and demand determine the price of a coin. An excellent uncirculated silver pattern dollar from the Che-Kiang Province minted in 1897 was sold for USD 320,000. It is one of the first few coins that were made using European coin-making process. Pre-sale estimate put it value at USD 150,000 to USD 200,000.

The worth of this ultra-rare coin significantly increased because of the recent growth in the demand for Chinese collectibles. And as China becomes a world economic giant, interest in its rare coin market has grown and will continue to progress in the next years.