Beijing Expo Draws Tens of Thousands

By Peter Anthony, World Coin News December 21, 2011

This article was originally printed in Numismatic News.
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November in Beijing can be freezing, but this day is merely cool. Green leaves still cling to the trees that line Jianguomenwai Avenue. The avenue is no quiet street, but rather a quarter-mile-wide river of cars, buses and bicycles swept along by the current.

As usual, my picture taking habit slows me down and I bring up the rear. I hurry to catch up to my companions, Dan and Charlie of Lucius Investments, and Michael, Terry and Andy of Champion Auctions.

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To our left is the sprawling China World Hotel that covers the entire block. From its side is draped a large red banner that reads, “Beijing International Coin Exposition.”

The Beijing International Coin Expo may be the least-visited by foreigners show of any major coin Expo in the world. Collectors find it too distant and too expensive to travel to, as does much of the numismatic press. This year fortune smiles on me and I can cover the Expo for my Chinese coin newsletter/price guide, China Pricepedia.

In front of us, people troop up an incline toward the hotel and we follow them. “Keep track of your bags!” someone shouts. As soon as we pass an outer wall, The hotel driveway is filled with hundreds of people milling about, held back from the doors by a clump of uniformed guards.

There’s no question that the most overwhelming aspect of the Beijing Expo is the crowds. You run into those even before you get in. Hundreds of people mill about the entrance seeking, or selling, the badges that allow passage by the numerous uniformed guards. Security includes airport-style x-ray machines and metal detectors.

Once inside, we walk past a hundred people all frantically vying for attention at a will call booth. A moment later we are standing inside the exhibition area. People rush about us in every direction, and I am very grateful that the Champion Auction Booth is right by the entrance. We duck into it and find shelter from the tens of thousands of people pouring into the convention halls.

The Beijing Expo is physically divided into four sections: three halls on the first floor with additional exhibition space on the second floor. The first hall holds the most important exhibitors. There were impressive displays from the Perth Mint, the Royal Mint and the Canadian Mint. The biggest exhibit is, not surprisingly, from China. The curved outer wall of the China Gold Coin Incorporation’s space has an impressively large video screen mounted on it. On this screen a continuous slide show promotes Panda coins and other mint products.

On the other side of the wall are display cases filled with the latest Chinese coins, notably the 2012 Year of the Dragon series. Top dog among these is the 10 kilo gold 100,000-yuan gold Dragon with a mintage of 18. I am tempted to inquire if there is a quantity discount, but observe all the guards standing nearby and restrain myself. It’s actually not easy to get close to this coin because of the many looky-loos, as well as a TV crew interviewing a mint official.

The most popular products at the Expo are the new Dragon coins. Also very well-represented are manufacturers of presentation boxes. The boxes come in a nearly endless variety of shapes and sizes. Many are made of beautiful wood and reflect the importance the Chinese place on ceremony.

As I explore the distant corners of the Expo, there are dealers selling older coins, too. Few speak English, and communication is difficult, but it’s usually possible to get a price. Among the coins I notice are the “jiazi” sets that contain a 1/4-ounce gold Panda along with a 1-ounce silver Panda. The format of these coins shrinks the regular BU Panda design to fit into the middle part of the coin and then adds an outer ring that displays the name of whatever is being honored. The silver coins sell well to Western collectors, but the gold sets are a largely Asian taste.

The Expo’s highlight is the auction. The auction room is filled with hundreds of bidders and onlookers. There are a handful of coins, or sets, that come with certificates of authenticity with the number “1” on them. These prove very popular and active floor bidding sends prices to two or three times the normal cost of the same coins. The top coin is a 2006 10-kilo gold Year of the Rat. At least five bidders that I can see are after this prize, and the final price exceeds US$1.5 million.

With interest in Chinese coins growing, the Beijing Expo is a must-see show that many more collectors and dealers are sure to put on their calendars in future years.