South Korean Top Auction Results from 2017

Started by Verify-12, January 30, 2018, 01:32:06 PM

Previous topic - Next topic

0 Members and 1 Guest are viewing this topic.

Verify-12

Here's a Korean-language video on the top 10 highest bids at South Korea's preeminent numismatic auction house, Hwadong, from 2017.  It has English subtitles, too.

Figleaf

This is a special application of the general rule that you can save much money by a) not collecting the coins of the country you live in and b) not buying coins in the country they come from. To which I would add c) not collecting by type and d) not doing all of the above at the same time.

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Verify-12

Quote from: Figleaf on February 06, 2018, 01:46:13 AM
This is a special application of the general rule that you can save much money by a) not collecting the coins of the country you live in and b) not buying coins in the country they come from. To which I would add c) not collecting by type and d) not doing all of the above at the same time.

Agreed.  On all four points.

In my case, I found that I had to break your rule "b." 
For SOME pieces, I personally had no choice but to buy from South Korea in order to fill out gem uncirculated year-sets for all six circulating denominations.
Try finding 1977~1981 50-Won coins in that condition outside of South Korea.  It can happen, and NOT at all expensive, but pretty darn difficult outside of Korea. 
Same for a few other years among the other denominations... like the 1987 500-Won coin.  I finally bought a graded one from the Korean retailer, narauction.com, in an NGC graded-holder (Mint State-65).


Figleaf

I have repeatedly broken my own rules also. Sometimes because the price was right (or the difference was small enough to shrug about), sometimes because I didn't have much choice either, as e.g. for local tokens, sometimes because the country's own coins are scrutinised more severely and priced down for defects I don't care about - that's how I once bought a double florin for a fine price because it had a scratch in the hair that was hardly visible if you are not very familiar with the type. Rules you set for yourself are OK to break.

More often, I chanced upon items I thought I'd never own in countries where they weren't appreciated to the same extent. Indian coins in the US, Dutch coins in the UK, Mediterranean coins in Germany, Italian coins in Portugal, Egyptian coins in France ...

However, I reacted as I did for the benefit of those who are maybe not or not explicitly aware of the dangers of a home market.

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Verify-12

Quote from: Figleaf on February 06, 2018, 10:05:08 AM
However, I reacted as I did for the benefit of those who are maybe not or not explicitly aware of the dangers of a home market.

Yep.  It was a good point to make. 

In fact, this was one of my main points in the article on South Korean coins that I wrote for COINage Magazine in February of last year.