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During a hectic two week period in late November and early December 2007, iAsure and its subsidiaries, Champion Auctions and the Journal of East Asian Numismatics (JEAN), hosted a series of events and a tour of Beijing, Shanghai, Hong Kong, Taipei and Tokyo. Members of the invitational tour included Ron Guth, President of PCGS grading service, Bob Johnson, chief grader for NNC grading service and one of the largest coin sellers on Ebay, Karl Stephens, world coin dealer and consultant to PCGS, Chou Chien-fu, President of the Taipei Numismatic Society and a coin dealer with shops in Taipei and Shanghai, Bruce W. Smith, editor of the Journal of East Asian Numismatics and long time researcher in Chinese numismatics, and Michael Chou, founder of iAsure and its subsidiaries.
The first event, held November 25th in Beijing, China, was a seminar featuring speakers on Third Party Coin Grading, International Coin Trading through Ebay and Ebay LiveAuction, and an introduction to the JEAN "magazine" and its new website. This was the first seminar on Third Party Grading ever to be held in China. |
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Ron Guth introduced process of PCGS Grading Service
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| Ron Guth introduced the concept of Certified or "slabbed" coins, which is already becoming popular with Chinese collectors. Guth outlined the philosophy of PCGS, its policies, and most interestingly, the system through which coins submitted for grading are processed. This segment of his presentation included a brief video depicting the process. Guth revealed that China is by far the largest overseas submitter of world coins to be certified, most of those submitted being Chinese |
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coins. Because submissions from China are a growing part of its business, PCGS is seeking to acquaint collectors and dealers in greater China (China, Hong Kong,Macao and Taiwan) with the details of its products. Champion Auctions is the first and so far only PCGS Authorized Dealer in greater China. An Authorized Dealer has special access to PCGS, and can offer faster service than an individual submitter can obtain. This is particularly important for dealers and auction houses.
Bob Johnson spoke on the effect that third party grading has had on collecting. Intended originally for rare U.S. coins, over the years certification has expanded to relatively common coins in high grade, newly issued coins, and world coins. For collectors of Chinese coins, certification not only provides a grade, but also a perhaps more important service-a guarantee that the coin is genuine. Counterfeits of modern Chinese coins have become a serious problem in the last 10 years. The two leading grading services, PCGS and NGC, offer a guarantee that coins they grade are genuine, and will buy the coin if it turns out not to be genuine.
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Bob Johnson,Ron Guth, Michael Chou,Chou Jianfu,Bruce Smith
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Some of those on the tour witnessed this guarantee in action, when a coin believed to be a forgery made in Hong Kong some years ago, was withdrawn from the November 2007 Cheng Xuan auction, and later purchased by the grading service (PCGS) for some thousands of dollars. Mark Downing's talk was on Ebay
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LiveAuction and its importance in the numismatic market. Mr. Chou's focus was on the use of third party grading in the coin business.These three speakers explained the development of certified coins and offered tips on cross-border buying and selling of numismatic items online through the eBay e-commerce trading platform. |
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11/25 Beijing Champion-PCGS Event Noble Family
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Bruce Smith announced plans for the revival of the Journal of East Asian Numismatics (JEAN), which will be published on the JEAN website as part of a broad service to collectors of oriental coins. The JEAN website is designed to serve two functions- as an easy access to reference information on East Asian Numismatics, and as a portal to other related sites, such as numismatic societies, coin dealers, auctions and non-commercial numismatic websites. The goal is to make JEAN the first place any collector or dealer will go to buy or sell numismatic items or to look for information. Most of the site will be free to use, including access to the current and back issues of the JEAN magazine. Also available for a fee will be research, report and authentication services.
The event was held at the Noble Family Club, a private media club based on the number one CCTV Chinese TV drama, Noble Family, produced by GCS Media. Noble Family Media Club is a joint venture of iAsure and GCS Media, a leading
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Chinese Media company. The Noble Family Club is located in one of nine remaining imperial grainery buildings in the 600 year old Nanxincang Imperial Grainery complex. This location was appropriate since grain has long represented money or wealth in Asian tradition.
Among the invited guests who attended were some of the leading coin dealers and collectors in China, representatives from the two largest Chinese auction houses, China Guardian and Cheng Xuan, both from Beijing, and representatives from China Gold Coin Company. To commemorate its presentations in China, PCGS brought gifts for those who attended the events. Proof strikings of the first four U.S. Presidential Dollars were individually encapsulated in special holders made for the events. A total of 200 of these commemorative slabs were produced by PCGS and given out during the tour.
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