Hong Kong’s One-Stop Coin Shops

My work keeps me busy, so when the opportunity arose to take a long service leave, I jumped at the chance. Then I had to figure out how I wanted to spend the time. I had some superb, high-end UK errors that I had always intended to submit for third-party grading and encapsulation. At a recent coin show, an associate mentioned how you could submit coins directly to Numismatic Guaranty Company (NGC) at its Hong Kong office, which got me thinking.

A Collector’s Dream

At the top of my bucket list was visiting Ho Mong Kok Shopping Centre, the Hong Kong shopping mall with four floors of individually owned and run shops that specialize in coins, bank notes, and stamps. I’d been to Hong Kong once before a decade or more ago, but I didn’t know about Ho Mong Kok then. Over the years, I had heard whispers of this mythical numismatic and philatelic “El Dorado”—in the back rows of auctions between Chinese lots or at coin fairs while examining dealers’ trays of Chinese silver coins. I’ve always believed Chinese coins were a tough area to specialize in. They’re heavily forged, and it requires years of research and experience to spot the fake from the genuine. This was especially true back when the Chinese numismatic market was nowhere near as buoyant as it is today, and without the plethora of online reference material that now exists. However, I am extremely interested in Chinese coins, and this time, I was well prepared. I’d done my research and was determined to find and experience this numismatic El Dorado!

NGC Hong Kong

After landing in Hong Kong the night before, I had an 11 a.m. appointment at the NGC Hong Kong offices. I left nice and early and navigated my way through the congested Hong Kong transport system, the MTR, and equally crowded streets and made it to the NGC office with 15 minutes to spare. 

I submitted 17 superb UK error coins to NGC and left feeling a sense of accomplishment by submitting them in person. Employees were able to answer some prevailing questions I had right there on the spot. As an added bonus, a helpful NGC staff member looked up the address of Ho Mong Kok Shopping Centre on her phone. She gave the search results to me in Cantonese so I could use them to ask for directions if I happened to get lost. (Spoiler alert: of course I got lost!) 

Numismatic El Dorado

Armed with screenshots of the building’s exterior and directions in Cantonese, I embarked on my numismatic quest. After several MTR train rides and a not-so-insignificant amount of walking, mostly backtracking as most of Hong Kong looks the same to my untrained eye, I finally arrived at the unassuming building. The entrance, complete with a figure I assumed was a security guard, had an obligatory money changer out front. A few small stalls and shops were visible in the foyer, mostly with bank notes on display. 

The first shop I visited—well, the first one that was open, to be more accurate—instantly drew my attention to the wall-to-wall bank note and coin displays. As I’d heard when discussing Ho Mong Kok with others, the stock was mostly Hong Kong and Chinese material. This was fine by me, as I was there to see exactly that. I’d even brought my own collection of mostly copper Chinese coins that I was hoping to get unofficially validated by a local expert.

I then moved on to the next stall, serious about getting some examples of Chinese coins. Two lovely ladies moved about the small shop, tending to the displays lined with numismatic treasures.

Obvious Fakes

The elderly employee showed me an obviously fake 1914 “Fat Man” silver dollar and an equally obvious fake U.S. Morgan dollar. I didn’t understand what she was saying, but her hand gesture, akin to a dismissive wave, assured me that she was telling me these were fakes. The hand gesture and honesty were appreciated, but I had already assessed them as such, as they were so poorly made. 

I did buy an NGC-graded About Uncirculated (AU)-58 1929 Kwangtung 20 cents with lovely rainbow toning for HK$480 (US$60). Because I was led to believe Hong Kong was built on haggling, I got the lady to throw in the fake Fat Man and Morgan dollar—in the interest of research, of course. 

Endless Shops

Ho Mong Kok’s claim to fame is multiple floors of shops and vendors, but my exuberance had got the better of me on the ground floor. As I made my way to the next floor, I realized how premature my ground-floor deals were. Before me stood two corridors of endless small shops displaying coins, bank notes, and stamps, exactly what the rumors and references had promised. I was there around 1 p.m., yet most shops were closed—also a fact I had read. I perused the window displays, greeted the employees courteously, and moved on to the next floor. After all, I was there for coins!

Bethel Gift Shop

I came across an open shop with a window filled with third-party graded and encapsulated coins from around the world, mostly silver and crown-size. The shop owner, who introduced himself as Chen, was “the guy” I was hoping to meet. We chatted a bit, and he gave his opinion on the authenticity of my Chinese coins. As a goodwill gesture, I gave him a copy of a book I’d bought online about Chinese copper coins. The reference had great pictures, but alas, it was no good to me as the descriptions were all in Chinese.

I showed Chen my beautifully rainbow-toned 1929 20 cents I’d just purchased (prematurely) downstairs, looking for endorsement that I hadn’t overpaid. Chen offered me a Professional Coin Grading Service (PCGS)-graded Mint State (MS)-63 example replete with rainbow toning for HK$500 (US$64), which I feel was his way of saying “you overpaid,” so I bought Chen’s example too!

A New Friend

I looked over his shop walls lined with coins. It felt more like Dr. Who’s Tardis than a shop, given how many coins were squeezed into it. Then I searched through a number of folders he had with page after page of Chinese and world silver coin examples. I was there for over an hour, during which we chatted, took a few selfies, and connected on Facebook. I concluded our dealings and also bought a raw 1914 Fat Man silver dollar, which was not in the highest of grades but was an affordable example all the same.

Overall, my Ho Mong Kok trip was a fantastic experience. I purchased some lovely graded and raw examples of Chinese silver, I was given two positive opinions on the authenticity of my Chinese copper coins, and I made a new friend. I would highly recommend that anyone passing through Hong Kong visit Ho Mong Kok Shopping Centre. I intend to go back in a few months to personally collect my UK error coins once NGC has graded them. A great excuse, I reckon! For anybody interested in Chinese coins, bank notes, and let’s not forget stamps, I implore you to make time to visit Ho Mong Kok. It is a seriously epic, one-stop shop for numismatists and philatelists alike.