Chinese Panda Coins

Silver Panda Coins Outperformed Silver Eagles

noreply@blogger.com (Jay Feldis) — Mon, 03 Feb 2014 23:17:00 +0000

Current year Chinese silver pandas usually sell for a few dollars more than Silver American Eagles. For example, 2014 BU 1 oz Silver Eagles are currently retailing for about $6 over spot while 2014 Silver 1 oz Pandas are about $9 over spot (single coin price, excluding shipping). This is because the China mint charges more for their coins than the US Mint, Panda mintages are lower, and demand for Pandas within China is seemingly insatiable

American silver buyers will sometimes shy away from Pandas because they don't want to "overpay" for silver bullion. If you plan someday to melt your coins or trade them post-apocalypse, then by all means, spend as little as possible. However, if you are looking for investment return, please take a look at the two charts below.

These charts show the current retail price of China silver pandas and US Silver Eagles (coins dated 2004 to 2014) on ebay and other mainstream retail websites (spot silver current near $20). While the eagles certainly have tracked the price of silver, Pandas have greatly exceeded eagles at holding their US dollar value, despite the decline in silver prices in 2013.

So for example, a 2010 silver Eagle purchased in December 2010 would have cost about $30, and a 2010 silver Panda would have cost about $33. (spot was ~$24 at the time) Today the Eagle is worth about $27 while the Panda sells for about $40.

As you can see, silver eagles have not really appreciated vs silver, while pandas have continued to increase.

	Dec 2010 Price	Dec 2013 Price	Gain
Silver Eagle BU	$30	$27	-10%
Silver Panda BU	$33	$40	21%

The reasons for this include low mintages and high demand for silver pandas. In 2013, 8 million pandas were sold while the US Mint sold more than 40 million eagles! In addition, pandas are widely viewed as more beautiful and collectible then their somewhat boring US counterpart.

Over the past 10 years (actually since 1983), Silver pandas have delivered a better US dollar return than other bullion silver coins. If you are looking for a little extra zip in your silver investment, Chinese Pandas may be an good option.

With Silver prices at 4 year lows, perhaps now is a good time to consider stocking up on silver pandas.

The Ongoing Case for Chinese Gold and Silver Coins

noreply@blogger.com (Jay Feldis) — Fri, 11 Oct 2013 08:04:00 +0000

With gold languishing around $1300/oz and Chinese Pandas trading below recent highs, it is time to re-look at the fundamental trends that have been driving the bull market.

A Brief History

Let's begin with a little history. Back in 2005, the time I consider the beginning of the Chinese coin bull market, most Chinese gold and silver coins were trading just slightly above bullion melt value. Spot gold was trading near $430/oz, well above it's 2001 low near $260, and Pandas were just an interesting form of bullion. The only coin well above spot was a really nice 1982 1 oz, which I can remember buying for the outrageous price of $800! Everything else traded from +5% to perhaps +20% above spot.

Today, very few gem quality Pandas and other Chinese coins trade anywhere near spot. Only the most common panda dates, like 1987 and 2013, trade in lock-step with bullion. Many now trade at prices 3 to 4 times gold (see earlier blog postings for examples). Paradoxically, many US gold coins, such as the famous $20 Gold Double Eagle and $10 Eagle, have barely kept up with bullion over the same time period. Why has this happened, and have the fundamental reasons changed?

American vs Chinese Style Investing

Back in the 1970s gold bull market, American investors who wanted gold had few choices. Double eagles, gold bars, Krugerrands, or perhaps a risky bet on a mining stock. The result was very high prices for desirable American coins. Today, Americans (and Europeans) have many paper-market investment opportunities, such has gold and silver ETFs, that absorb investor demand at the click of a mouse. Furthermore, westerners still trust their banking institutions and governments to honor the paper contracts for gold and silver, and to protect bank account savings from theft and fraud.

Chinese investors see the world quite differently. Banks and stock markets, while useful, represent substantial risk to the individual investor. Institutions are controlled by government and are subject to changing political winds and exposed to corruption. Too much visible wealth is dangerous and should be hidden. Tangible assets are now, and historically, the safest way to save and invest.

China's Response to US Monetary Policy

The flood of US dollars that has entered China over the last 15 years has created much wealth for the Chinese upper classes. However, the Chinese leadership appears to recognize that the uncontrolled expansion of US credit is unsustainable in the long term, so they have encouraged investment in tangible assets to counterbalance the risks intrinsic to the trillion dollars of US Treasuries they hold. Important examples include, China real estate, infrastructure investments, and massive purchases of African resources. And of course, massive imports of gold - in excess of 100 tons per month so far in 2013!

The above data only includes official imports from Hong Kong. There are certainly large quantities coming in via other, more private channels. China is clearly taking advantage of the current lower prices offered by the western futures markets.

The Niche Market for Panda Coins

The entire Panda coin market is tiny when compared to the tons of bulk metal being imported on a monthly basis. However, the economic forces driving the import of gold bars also underpin the Panda coins. These include the overt government promotion of gold coins as a investment for Chinese citizens, nationalist sentiments toward what is has become the signature gold and silver coin of China, and the desire to hold wealth in a portable, liquid, and private form. The strong private market demand was demonstrated by the success of the gold Panda Master Sets offered by Chinese banks, at $200K each, to wealthy customers last spring. Although that recent buying surge is done, there is no reason to believe that there will not be similar promotions in the future.

In recent news, the Chinese government has now further removed barriers to gold import. The PBOC announced that individuals can now import seven ounces of gold tax free and without reporting to customs. It seems like they are almost begging the people to buy gold coins!

The Fundamentals are Still Strong and the Trend is in Motion

The Chinese coin market is underpinned by key fundamentals

Huge China demand for gold of all types
Active promotion of gold by the Chinese government
The desire of wealthy Chinese citizens for portable, private, wealth protection
The ongoing currency war by the US Federal reserve
The patriotic desire to own the official gold and silver coins of the nation
Excellent past price performance will attract further speculation
New tax relief for import of gold coins by individuals
Very thin dealer inventories means few coins available to meet demand.

Speculative markets are known for having wild swings up and down - especially Chinese markets. Roller coasters are the norm. However, a collector who buys carefully and hangs on for the long haul is likely to be well rewarded.

Gold & Silver Panda Coin Buyer's Guide Book - 2nd Edition

noreply@blogger.com (Jay Feldis) — Wed, 09 Oct 2013 20:51:00 +0000

The new Second Edition of the Gold & Silver Panda Coin Buyer's Guide by Peter Anthony is now available. This book is the essential panda coin collectors reference book.

It also makes a great holiday gift for the Panda coin collector in your life!

The new 2nd editions covers Pandas up to 2013, add coverage for Unicorns, and includes new detailed information about key Pandas varieties

I highly recommend this book!

The Gold and Silver Panda Coin Buyer's Guide Second Edition is a comprehensive guide to Pandas.

Its 256 pages provide unique insights, photos and the best reference in print about nearly 600 charming -- and often valuable -- coins in this growing family.

From basketball games to kite festivals to international diplomacy, the second edition of the Gold and Silver Panda Coin Buyer's Guide tells the stories behind the Panda coins and their native country. It will bring hours of enjoyment to all coin lovers -- from experts to beginners.

Besides beauty, Pandas offer outstanding profit potential. Pandas that used to be sold as bullion now cost thousands of dollars.

Many valuable coins still trade hands based on their metal content because buyers and sellers don’t realize their scarcity. High profits are already going to those who know which is which. The second edition of the Gold and Silver Panda Coin Buyer's Guide is the only book that gives you the information to pinpoint overlooked and undervalued Pandas — the coins most likely to rise farthest and fastest.

Highlights include:

Photos of Panda coins and medals from 1982-2013
Weights, metal content and mintage for each coin
Identifies best buys
Expanded estimates of current B.U. populations
Includes platinum, palladium coins and medals
New varieties described and analyzed
NEW! Panda catalog numbering system
Bonus chapter on Unicorns
256 pages
English-Chinese for selected key facts

Books are available now in the Rare Panda Coins store.

2013 "Shanghai Memory" Jewish Ghetto Panda Coins - Beautiful Low Mintage Panda Medals

noreply@blogger.com (Jay Feldis) — Wed, 04 Sep 2013 04:38:00 +0000

The Shanghai Mint has just produced a new and very interesting set of Panda medals commemorating 70th anniversary of the shelter of more than 18,000 European Jewish refugees in Shanghai during World War II. Officially known as the "Designated area for stateless refugees", and also know as the "Shanghai Ghetto" or "Hongkew Ghetto". The design of the medal represents the hospitality and humanitarianism of the Chinese people who offered the Jews refuge during the war.

The commemorative medals are a very unique and groundbreaking issue from the Shanghai Mint. These medals have a number of important characteristics that will make them very desirable to collectors. All are 99.9% pure gold or silver.

First Panda medals minted with laser etched serial number
First Chinese numismatic piece with a Jewish theme.
Extremely low number of pieces produced
Designed by famed mint designer Rocky Zhao with his father, legendary engraver Qiming Zhao

Exceptionally Low Mintages

We have not seen such low mintages Pandas since the 1990s. One example would the the Zurich International Coin Expo 1 oz Panda medal, mintage 550, which sold at the recent Hong Kong Auction for
almost $5700 in PF68.

Here are the official mintages:

2013 Shanghai Memory	Mintage
5 oz Gold Panda	36
1 oz Gold Panda	570
1 oz Silver Panda	5773

The 5 oz gold was sold out from distributors via pre-orders before release. In addition to the usual interest from Chinese collectors, demand from collectors of Jewish historical commemoratives has been very strong.

Laser-Etched Serial Numbers

The Shanghai Memory medals are all sequentially serialized with a number unique to the specific medal. The 5 oz Gold are numbered #1 - 36, the 1 oz Gold #1 - 570, and the silver #1 - 5773. Each coin has a certificate (COA) with the matching number.

Serialization presents some interesting new possibilities for collectors. As with serialized prints in the art world, early (lower numbered) coins may be considered more desirable, certain numbers may be more or less "auspicious", and matched sets can be created.

In fact, the lower numbered Shanghai Memory medals have been pre-packaged into gold and silver matched sets. Each of the different coins in the set has the same serial number. So in order to get the lower numbers, one must buy all of the available sizes. For example, to get #35, you have to buy the 5 oz gold, 1 oz gold, and the 1 oz silver, all of which will have 35 etched. Here is the serial number map.

Matched Sets	Serial Numbers
3-coin Premium Set 5 oz Gold 1 oz Gold 1 oz Silver	#01 - 36
Gold & Silver Box Set 1 oz Gold 1 oz Silver Special 2-coin Box	#37 - 200
Gold & Silver Paired Set 1 oz Gold 1 oz Silver Separate Boxes	#201 - 570
1 oz Silver with box	#571 - 5773

Packaging

The medals are all distributed with special packaging and materials.

All come with:

Glass-Top Display Box
Torah-like scroll containing historical information.
Certificate of Authenticity (COA)

Details

The silver medals are not in sealed plastic packs - only capsules.
#37 - 200 comes with a special glass-top display box which holds

one 1oz Gold
one 1 oz Silver
one Scroll
Single display box that holds both coins and the scroll
Two individual COAs

#201 - 570 are sold in matched pairs

one 1oz Gold
one 1oz Silver
two separate glass-top display boxes, each with scroll.
Two COAs

#571 - 5773 are 1oz Silver only

Glass-top display box
scroll
COA

Where is the Panda?

There is a Panda on this medal. The girl under the umbrella is holding a panda doll!

Therefore this qualifies as a "Panda Coin"

Exquisitely Detailed and Full of Symbolism

The medals were commissioned by Danny Spungen, a major collector of Chinese coins as well as a researcher and collector of materials related to the Holocaust.

The medals are chock-full of symbolism. A detailed guide can be found here.

The Chinese Coin Market - Where Next?

noreply@blogger.com (Jay Feldis) — Tue, 20 Aug 2013 19:07:00 +0000

After the big run-up of gold Pandas this last spring, many market participants are now cautiously standing on the sidelines wondering where things are headed next. Here we present some analysis and food for thought.

As I have written in previous posts, there is a tendency toward sector rotation in many markets, coins included. This means that after one sector has a bull run resulting in high prices, buyers will begin to look for undervalued bargains elsewhere. Often in sectors that have been ignored for a while.

Chinese coin sectors for consideration: Gold Pandas (BU, Proofs, Medals), Silver Pandas, Lunar Animals, Cultural.

Gold BU Pandas
Having just finished a very heated run, many of the most appreciated coins have cooled.
Many buyers and sellers are waiting to see how prices settle-out. Sales have slowed, but prices on most Pandas have not plunged. Crazy exceptions like 2002 1/10 are down quite a bit, but good solid 1990's gold pandas seem to be holding steady. There are just not many coins available to be sold, and most are now in strong hands. These coins seem quiet now, but key dates like 1995 and 1998 will be increasingly scarce and may eventually command very high prices

Gold Panda Proofs
The gold proofs were not part of the Spring 2013 frenzy and are very cheap right now. The scarce 1995 and 1996 1oz proofs are down 50% off their highs of over $20K a few years ago. With mintages ~1000 coins, these look very cheap compared to BU pandas. 1990-1993 proofs are cheap as well. The bimetals are in the same category. A 1986 to 1996 proof set is a nice long term buy.

Panda Medals

The Panda Medals are non-monetary "coins" issued by the China Mint to commemorate major coin shows around the world. Medals were issued regularly from 1987 though the mid 1990s, usually with very low mintages; 500 - 2000 coins for gold, 10K or less for silver. These are not technically coins, since they have no face value, but they are generally considered part of the official Pandas series.

After a long hiatus, minting of the medals resumed in 2012 at the Singapore show, followed by Philadelphia ANA, Berlin, and Long Beach. More are expected to follow. The arrival of new medals has brought new attention to the series overall. After years of neglect, and given the very low mintages, the medals a ripe for a resurgence. The Panda medals appear undervalued and are a key series to watch.

Silver Pandas
Silver pandas are still well below highs of 2011. Key dates are still in demand. I don't expect fireworks in silver until silver bullion resumes its ascent toward $100/oz.

Lunar Animals
The Chinese Lunar Animals are a very beautiful, unique, and well made series proof coins. Each year several
are issued depicting one of the 12 Chinese animal zodiac symbols. They have been made in various interesting shapes and sizes, such as plum flower, fan, rectangular, as well as round. Some are colorized. The designs are intricate, distinctive and very attractive. Chinese collectors tend to buy one each year and then put it away forever... And very importantly, the mintages are very low.

These coins have had run-ups before, but not for several years. The availability of coins for sale is low, so there is real potential for price spikes. These coins are very marketable in China, so any promotional programs would have a powerful affect. They are easy to like. We place these high on our list of coins to watch and accumulate.

The Spring 2013 Panda Coin Surge

noreply@blogger.com (Jay Feldis) — Wed, 12 Jun 2013 06:22:00 +0000

February, March, and April were very exciting months for the Chinese coin market, especially for gold Pandas. As the price of gold paper contracts on the COMEX and London markets declined from $1700 to $1350 per ounce, Chinese panda collectors went into full buying mode, driving prices of most pre-2011 pandas up substantially.

A major driver of the buying surge was marketing program run by one or more Chinese banks which sold complete 1982-2012 "master sets" of BU gold pandas to high net worth collectors. A master set is a complete set of all 1/20 oz to 1 oz gold panda coins for each year. That would be 5 coins (1.9oz) for each year except 1982 which has only 4 coins (no 1/20 oz) - a total of 154 coins, 58.85 ounces, 31 years. Major China coin dealers were contracted to build many of these sets, setting off a competitive buying spree worldwide, driving up prices of most pandas and sending a few key coins into the stratosphere.

The fierce buying quickly drained dealer inventories as well as ebay. Soon, certain fractional coins were in short supply, preventing completion of sets. As we noted in past entries of this blog, dealer inventories were already low. Chinese dealers had to outbid each other to get set completions.

As a result, some new panda scarcities were uncovered. Surprisingly scarce coins and peak prices in late April:

1995 25Y 1/4 oz: $5000
1995 50Y 1/2 oz: $4500
2002 50Y 1/10 oz: $3000 (that equals $30,000 per ounce!)
2006 50Y 1/10 oz: $1000

The previously known scarce coins, 1998 all fractionals and 1994 1/2 oz also moved up. 1997 1/2s were tough to find as well. 1995 1 oz were over $5000. Even "common" dates like 1985, 86, and 88 saw increases.

The master sets were mostly built with pandas that are not certified, with some dealers even buying and cracking-out MS69 coins to fill gaps. The relative premiums on MS69 shrank as the prices for sealed and unsealed pandas increased. Also, varieties and mints were completely ignored for master sets, so Large Date and Small Date differentials reduced as well.

The marketing programs ended in early May, so the demand for these coins has subsided and extreme prices have retreated. However, we have learned of more Panda rarities. The master sets were sold to long-term buy-and-hold collectors for wealth preservation, so it is unlikely many of these coins will re-appear on the market any time soon. It seems very likely that the coins above will be increasingly expensive and difficult to find.

Dealer stocks of almost all pre-2011 Pandas are still very thin. The summer doldrums will be a time to slowly re-stock, but North American supplies are now very depleted. The next buying binge, whenever that occurs, should send some Pandas to new and extreme heights. This most recent bull-run happened when gold was declining and there was almost no participation from US and European collectors. What will happen when gold starts to go up again and the west gets on the gold bandwagon?

Summer is traditionally the quite time in the coin business... and an excellent time to be a buyer.

Gold Drops, but Gold Panda Prices Go Up

noreply@blogger.com (Jay Feldis) — Thu, 21 Feb 2013 19:34:00 +0000

The machinations of the paper gold traders on Wall Street may have pushed gold down toward $1550 per ounce, but Chinese buyers see that and conclude GOLD IS ON SALE! 买买买！Buy, Buy, Buy!

A post Chinese New Year buying rush into gold pandas is under way. Increased promotion of Panda coins in particular is increasing awareness in China. Thin dealer inventories mean that prices will go up on many coins.

The low gold price is prompting big increases in all physical gold sales across the board. You local coin dealer is probably very busy. This is very bullish.

Chinese Wait In Line to Buy Gold

noreply@blogger.com (Jay Feldis) — Tue, 08 Jan 2013 08:57:00 +0000

From CNTV
http://english.cntv.cn/program/bizasia/20130105/102949.shtml

Looks like gold is as popular as iPhones. People lining up out the door to buy...

Chinese snap up gold in new year

01-05-2013 10:31 BJT

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By Xu Fangliang

Gold is a popular investment option in China, particularly during the holidays. This past Christmas and New Year, demand was healthy.

During the three days of the New Year holiday, investors in Shanghai rushed to jewelry stores and lined up for hours in order to buy gold jewelry, gold bars and gold coins. Presented with increasing opportunities to buy gold, Chinese consumers seemed happy to put up with some inconvenience.

A buyer said, "I came here at 3 am. Thinking about buying gold kept me warm."

"Gold bar are great for maintaining their value," said another.

A shop worker says although the general economic environment is not so good, that actually has made for a better turnover.

Shao Xiaomeng, Manager Assistant st Shanghai First Asia Jewelry Company, said, "The sales during this new year’s holiday was very good, with consumers interested in gold investment. The line in front of our cashier was up to 20 meters long. Sales were up by more than 15 percent compared to last year."

Shao’s business growth reflects booming gold consumption nationwide. The World Gold Council says gold demand from China took up one third of total world demand last year. The purchase volume of gold bars alone in the mainland last year exceeded 200 tons, 50 percent up from a year earlier. What’s more, that figure does not include the Hong Kong market, where big growth occurred as well.

An expert says the increase in Chinese people’s income accounts for most of the increased purchasing.

Lian Ping, economist from the Bank of Communications, said, "Companies are getting richer, and so are people. It is important for them to find an asset that will maintain its value. The value of gold has increased substantially over the past few years. China’s increased gold consumption will help the country maintain its wealth."

While China now ranks ahead of even India as the world’s largest gold consumer, the country’s gold consumption per capita is only 4.6 grams, much less than the world average of 20 grams. The World Gold Council predicts gold consumption in China will double by the year 2020.

A Panda Coin Primer - Part 1

noreply@blogger.com (Jay Feldis) — Mon, 03 Dec 2012 10:10:00 +0000

Interest in Chinese Panda coins is growing rapidly, but there is still a lack of readily available data about these coins. The Buyer's Guide to Chinese Gold & Silver Panda Coins (2010) by Peter Anthony is an excellent book and a must have for any collector. However, online resources are still limited, so we have provided some summary information and tables to help newcomers get their heads around the available collecting opportunities.

A Panda Coin Primer - Part 1

The Panda Coin was born in 1982 with the creation of four gold bullion coins depicting the Chinese national symbol; the Panda Bear (熊猫). The coins were issued is four sizes, 1/10, 1/4, 1/2, and 1 troy ounce of .999 pure gold. These first pandas had no denomination (no face value in Yuan), so technically they are considered medals rather than coins. However, in 1983 denominations were added making then coins, but 1982 has generally been "grandfathered-in" by collectors as the first panda "coin".

Over the next 32 years (to date), many denominations, types, and varieties of panda coins have been issued. The following tables and notes give an overview of the Panda Coins Issued by China.

I. Precious Metals

Pandas have been produced in several different precious metals. We will organize the coins by metal group in later sections.

Metal	Purity	Years Produced
Gold	99.9%	1982 - present
Silver	90% 99.9% 99.9%	1983 - 1985 1987 1989 - present
Platinum	99.9%	1987 - 1990 1993 - 1997 2002 - 2005
Paladium	99.9%	1988 - 1989 2004 - 2005
Bi-Metal Gold & Silver	99.9%	1990 - 1997
Copper	70%	1983 - 1984
Bronze		1991

II. Gold Pandas

The gold pandas may be considered the flagship of the series. The 99.9% pure gold coins have been issued every year since 1982 in many different sizes, strikes, mints, and varieties.

The pandas can be divided in three main groups:

Brilliant Uncirculated (BU) Coins with denomination (face value)
Proof Coins with denomination
Official Commemorative panda medals with no face value

A. BU Gold Panda Coins

Brilliant Uncirculated coins, known as "BU" or "Mint State (MS), are generally mass produced. BU Pandas have been made every year and represent what might be considered the standard panda coin. Except for 1982, they were issued in 5 sizes, comprising 1.9 ounces for a full BU set each year. The 5-coin annual sets are popular among Chinese collectors.

In 2001, the denominations were changed, but the weights remained (inflation!)

Note that varieties and mint types are not shown on this table. We will cover that detail later.

Panda BU Coins Issued by Denomination (Yuan)

Weight (troy ounce)	1/20	1/10	1/4	1/2	1

1982		1/10	1/4	1/2	1
1983	5	10	25	50	100
1984	5	10	25	50	100
1985	5	10	25	50	100
1986	5	10	25	50	100
1987	5	10	25	50	100
1988	5	10	25	50	100
1989	5	10	25	50	100
1990	5	10	25	50	100
1991*	5	10	25	50	100
1992	5	10	25	50	100
1993	5	10	25	50	100
1994	5	10	25	50	100
1995	5	10	25	50	100
1996	5	10	25	50	100
1997	5	10	25	50	100
1998	5	10	25	50	100
1999	5	10	25	50	100
2000	5	10	25	50	100
2001	20	50	100	200	500
2002	20	50	100	200	500
2003	20	50	100	200	500
2004	20	50	100	200	500
2005	20	50	100	200	500
2006	20	50	100	200	500
2007	20	50	100	200	500
2008	20	50	100	200	500
2009	20	50	100	200	500
2010	20	50	100	200	500
2011	20	50	100	200	500
2012	20	50	100	200	500
2013	20	50	100	200	500

In 1991, a 10th anniversary commemorative 3 Yuan, 1 gram BU coin was added.

How to Collect:

The Chinese method is to collect every size coin for a given year - 1.9 oz per year
Americans often choose a weight and collect all the years of that size
More advanced options include collecting varieties (covered later) or certified high grade coins such as MS69 or MS70.

----------------------------------------------------------------------

B. Gold Panda Proofs

Proof coins are traditionally produced with a different process then BU coins. A proof is not a high quality BU coin, rather it is a coin produced by a special method: Dies and planchets are specially polished, and each coin is struck multiple times to produce a very sharp and often mirror-like coin. However, today's high quality mass-produced BU coins are often so sharp and shiny that they may look proof-like, so the China mint has helped us identify proofs by providing Certificates (COA) and somtimes a special "P" mark on the coin.

Proof Gold Panda Coins Issued by Denomination (Yuan)

Weight (troy ounce)	1/20	1/10	1/4	1/2	1	5	12	1 Kg (32 oz)

1986-P	5	10	25	50	100		1000
1987-P	5	10	25	50	100		1000
1988-P	5	10	25	50	100	500	1000
1989-P	5	10	25	50	100
1990-P	5	10	25	50	100		1000
1991-P*	5	10	25	50	100		1000
1992-P	5	10	25	50	100	500	1000
1993-P	5	10	25	50		500	1000
1994-P	5	10	25	50		500	1000
1995					100		1000
1996					100
1996 15th An.		10	25		100
1997								2000
1998
1999								2000
2000								3000
2001								10000
2002								10000
2003								10000
2004								10000
2005						2000		10000
2006						2000		10000
2007**						2000		10000
2008						2000		10000
2009						2000		10000
2010						2000		10000
2011						2000		10000
2012						2000		10000
2012 30th An.						2000
2013						2000		10000

*In 1991, a 10th anniversary commemorative 50 Yuan, 1 ounce "piefort" (double thick) proof and a xxxx Yuan, 5 Kg (160 oz) proof coin were added.

**In 2007 a 25th anniversary 3 yuan, 1/25oz gold set of 25 coins was issued

How to Collect:

If you can afford them, the jumbo-size coins are true rarities that are coveted worldwide.
1986 to 1992 sets
1986 to 1994 5, 10, 25, or 50 Yuan
100 Yuan Proofs 1986-92, 95, and 96

Part 2 will cover Gold Panda Medals

Strategies for Collecting Panda Coins

noreply@blogger.com (Jay Feldis) — Sat, 17 Nov 2012 23:06:00 +0000

The ongoing financial crises is gradually leading many people to consider investment in hard assets, such as artwork, precious metals, and numismatic coins. As a result, many people, both in the West and in Asia, are now entering the Chinese coin market. Below is a basic outline of the Gold and Silver Chinese Panda coin market, along with some broad recommendations.

Panda Coin Overview

Beginning in 1982, the Chinese government began issuing gold bullion coins depicting the the China national symbol of the Panda Bear. The coins were sold primarily to foreigners as a way to raise foreign exchange revenue and as a way to enhance Chinese prestige around the world. At the time, gold was still near all-time highs and there was a shortage on coined gold bullion worldwide (only Krugerrand and Maple leafs were available).

Although initially intended as a pure bullion coin, the Pandas quickly began to appeal to collectors worldwide, especially in the US and Germany. The coins feature and attractive new panda design each year, are available in several sizes of both gold and silver, and are produced in very limited quantities.

Gold panda sizes 1/20, 1/10. 1/4, 1/2, 1, 5 and 12 oz as well as 1 kg coins many years
Silver panda sizes: 1, 5 and 12 oz, 1 kg, and some 1/2 oz.
Most were issued as BU coins, with proof coins available on certain dates only, usually marked with a "P" on the coin.

Collector Appeal of Panda Coins

Attractive designs that change each year
Very Low mintages compared to other national bullion coins
Chinese legal tender status
.999 gold and silver purity
Availability in multiple sizes/denomination to match collector budgets
Many interesting varieties to explore and collect.
A very large and growing collector market in China and worldwide
A market that is not yet mature, where many rare types of coins are not yet prohibitively expensive

Identify Your Collecting Goals

Before diving into coin collecting of any type, it is important to evaluate your collecting goals, since this will help inform what you should buy. There are three man categories on participants, you may overlap into more than one category, but one may be your primary interest:

The Collector
The Bullion Buyer
The Speculator / Investor

The Collector

The collector is interested in the beauty of the coins, the thrill of the chase to complete a collection, and the satisfaction and bragging rights achieved from building a great collection.

For the collector, Pandas provide a bonanza of early stage opportunity. Mintages of pandas are generally small, and there are many interesting types and varieties that are just now being discovered. It is still possible to complete full collections of coins at reasonable prices to fit a budget when compared to low mintage US coins. If you have sharp eye, you may be able to be one of the first identify a new/future rarity!

We highly recommend the Gold and Silver Panda Coin Buyer's Guide Book by Peter Anthony, and you can find many links to panda-related websites on the right side of this page.

How to collect:

Chinese collectors prefer collecting all coins from a single date (1/20, 1/10, 1/4, 1/2, and 1oz from a given year)
US collectors prefer to collect all dates of a given size (ex 1/2oz pandas from every date).
Certified coins are preferred in the US and gaining interest in China

Collector Sets:

Date set - every date of a given coin size
Variety date set - every date and variety of a given size
Chinese set - all sizes of a given date
Grade set - all MS68 or MS69 (or all MS70 if you dare)
1980's set
1990s set
2000's set
Proofs or Proof sets
Gold, silver, or platinum depending on budget and preference.

The Bullion Buyer

If you are looking to buy gold or silver bullion at a low premium, you may be too late to get into Chinese pandas. While gold Maples, Eagles, and Krugerrands currently sell in a range of 3% to 4% over spot gold, current year pandas sell from major dealer at about 5% over spot. Silver Maples and Eagles sell at $2 to $4 premium, while current year (2012) silver Pandas have a premium of $7 or more over spot silver. This is a function of strong collector demand and low mintage production. These coins sell-out every year in recent times.

Furthermore, most older date Pandas trade at very hefty premiums. 20-30% is common and many dates can trade at 2x to 3x multiples of spot. Special varieties trade even higher. Lowest cost gold "common" dates are 1986-88 and 2010-2012. Many silver pandas other then 2010-12 trade over $100 each.

As a bullion buyer, if you are looking for a little speculative zest in your portfolio, you way want to consider some pandas. It is possible that even common dates may perform better than pure bullion. Current year coins have historically gained 2-3% premium within 1-2 years. However, selling high-premium pandas requires a little patience. The typical "we buy gold" outfit will not pay you any more than spot price for a panda, so you will need to sell to a specialist dealer or on ebay.

Recommended bullion-play pandas:

1986-1988 and 2010-2012 gold.
Low-grade certified coins (MS66-MS68) or loose coins with slight marks usually trade below market.

The Investor and Speculator

If you are reading this, you are probably already convinced gold and silver are a good long term way to preserve and protect wealth, but you may be looking for something a little more interesting than gold bars, or boring American Eagles. Chinese gold and silver pandas may have the extra potential you are looking for!

The Chinese coin market is still very young compared the mature, saturated, and well documented US coin market. While US coins may do well in the future, most of the best rarities have already been identified and priced into the stratosphere. It is unlikely you will make 2x or 3x your money on any US coin in a reasonable time period.

Chinese coins, on the other hand, are just now being discovered. New varieties of coins are being identified each year, and new collectors are entering the market daily. The new and growing Chinese upper and middle class now have the money and the interest to buy their own national coins, and indeed they are buying heavily with government encouragement. Over the past 3 years, numerous key panda varieties have more than doubled in market value. We expect this trend may continue over the next several years.

For the investors, we recommend:

MS69 certified Pandas free of spots
Lower mintage varieties (mint types) and special issue pandas
Years 1990 to 2000 are established as the most scarce
2001 to 2006 are showing speculative potential
1982 is the first year and a key date always in demand
83-85 and 89, and 86-90 proof sets also have potential as good value "sleepers"
1986-88 trade closer to bullion but may see out-sized gains as gold gains momentum.
Platinum and Palladium coins were issued for a few years and are scarce

Chinese Coin Market Update 9/16/2012

noreply@blogger.com (Jay Feldis) — Mon, 17 Sep 2012 00:08:00 +0000

For those who have been waiting for signs that the Chinese coin market is ready to make a new move up, Ben Bernanke and Mario Draghi fired the starting gun last week. Almost immediately, new coin orders started pouring in. Bargain priced pandas on ebay have been snapped up, and prices are moving up again.

As I have mentioned here and on CCF, dealer inventories of Chinese coins are very thin. If you have your eye on a key coin, you may want to buy it now before it is gone. Thant includes most gold pandas from 1991 though 2004. Silver pandas are also regaining strength. Prices will be going up.

1996 100Y Gold Panda 15th Anniversary Varieties

noreply@blogger.com (Jay Feldis) — Sat, 25 Aug 2012 00:50:00 +0000

The 1996 100Y 1oz Gold Panda 15th Anniversary is a very low mintage coin within the Gold Panda series. The official mintage total is only 3,800 coins. Given the widespread melting of gold pandas in the 1990's, the surviving population could be much smaller.

Two varieties of this coin have been identified. I do not know if these are correlated with different mints or die lots, so if anyone knows, please let me know. The difference lies in the position of the 1996 date. One of the dates of oddly off-center under the temple.

It is not yet known which of these is more rare, but the very existence of two clear varieties make the 1996 15th a potential long term candidate as a scarce panda superstar.

1995 100Y 15th Anniversary Gold Panda	1996 100Y 15th Anniversary Gold Panda
Centered Date	Off-Center Date

2012 Philadelphia ANA Coin Show Pandas

noreply@blogger.com (Jay Feldis) — Thu, 23 Aug 2012 20:55:00 +0000

The success of the Singapore ICF medals earlier this year no doubt lead to the issuance of medals for the Philadelphia ANA show. By most accounts, demand for the Philly ANA pandas was stronger than for the Singapore offering.

Compared to the huge numbers of Panda coins produced by the mint in recent years, the low mintages of these medals make them an especially appealing way to get in on the ground floor of a relatively scarce issue. In addition, the medals are especially appealing to American collectors due to the Liberty Bell depicted on the back.

2012 Singapore Show Pandas	Mintage
1 oz Silver Panda	10,000
5 oz Silver Panda	2,500
1/2 oz Gold Panda	N/A
5 oz Gold Panda	99

This is a rare opportunity to acquire some very special low mintage pandas. Once the the modest quantities are sold out, prices are likely to rise.

Panda Coin Market Update 6/30/2012

noreply@blogger.com (Jay Feldis) — Sat, 30 Jun 2012 04:19:00 +0000

Summer is traditionally the slow time in the gold market as well as the coin market. Summer 2011 was an exception with gold rising and Chinese coins seeing the greatest demand in decades. June 2012 is quiet and gold appears trapped in a trading range. While North American buyers have been reluctant to take advantage of lower prices, and in some cases liquidating coins at a loss, bargain hunters in Asia are very active.

Buyers from China are less interested in high grade MS69 and MS70 coins, and instead prefer sealed, unsealed, and MS67-68 coins available at lower prices. This has lead to a narrowing of the MS69 premium over lower grade coins. Last year, a good 1oz MS69 may have carried a premium over 30-50% over sealed of MS68. Today 20-30% is a typical range over sealed coins, and MS68s even trade at a discount to sealed.

Chinese collectors prefer to build a full set of coins for each year - all 5 sizes from 1/20 to 1oz. The strong Chinese buying has exposed shortages of certain of the smaller panda fractional coins, driving up prices on some unexpected dates. Examples include 2000 and 2002 1/4oz MS68 near $900. 2000 1/20 over $300, 2006 1/10oz over $600.

Even more importantly, Chinese buying has been continuous and relentless over the last 6 months. The modest dealer inventories that remained at the end of 2012 have been further drained. As recently as 2 years ago, Pandas could be easily found in local coin shops, and dealers would sell for a small percentage over spot. Today, Pandas are almost never present in shops that are not specialists in Chinese coins. When talking to local dealers, one will often hear comments such as "we used to have a lot of Chinese coins, but not anymore" and "when we get them, they usually sell very quickly in a day or two."

A famous quote of Ross Perot comes to mind: "That whooshing sound you hear is..." ...all of the Panda Coins in North America heading back home to China. Chinese buyers are not flipping these coins for a quick profit. They are looking for safe assets to protect wealth. Just as we are seeing wealthy Chinese buying prime California real estate, Chinese coin buyers have strong hands and are keeping these coins for the long term.

I believe this is setting up the next great leg up in the Chinese coin market. When the gold re-ignites, as I expect it will when QE3 follows the next crisis, the very thin remaining inventories of Chinese gold coins will disappear, and prices on many ordinary Pandas will skyrocket.

Now is the time to re-enter the market. It may be the last train out at these prices.

Hong Kong Exchange Buys London Metals Exchange

noreply@blogger.com (Jay Feldis) — Sun, 17 Jun 2012 06:50:00 +0000

Acquisition of gold and other hard assets is being encouraged by the Chinese government on many levels. Perhaps they are well aware of the debasement game being played by world central banks and see hard assets in Chinese possession as a defensive strategy.

The recent purchase of the London Metals exchange (LME) by the Hong Kong Exchange is just the latest step in what appears to be an ongoing process. The LME is the one major exchange, other than HK, outside of China, which trades physical gold (COMEX is only paper contracts). This may be a good way to gain better access to the physical gold market (as well as other key metals).

http://online.wsj.com/article/SB10001424052702303734204577467912492917718.html?mod=googlenews_wsj

"The deal could immediately prop up HKEx to become one of the major global metals and commodities exchanges," Hong Kong Exchanges Chief Executive Charles Li said.

LME accounts globally for 80% of trade in nonferrous metals such as copper and aluminum, as well as other industrial metals.

Chinese Panda Gold Promotional Video

noreply@blogger.com (Jay Feldis) — Sat, 19 May 2012 21:52:00 +0000

Here is a link to a very professional Chinese language video promoting investment in Gold Pandas. It depicts the sophistication and traditional value of gold Pandas as an investment. It appears to have credits for the People's Bank of China and the China Gold Coin Incorporation (CGCI).

It reflects the growing important of "Chinese" gold products in China, as well as the general official encouragement of gold ownership.

The video includes English subtitles

Singapore Coin Fair Pandas

noreply@blogger.com (Jay Feldis) — Wed, 02 May 2012 07:21:00 +0000

In the 1980's and 1990's, China frequently issued special panda commemoratives to mark important international numismatic shows, such as Munich, San Francisco, Basil, and others. This tradition, dormant since 1997, has been revived with and exciting new issue for the 2012 Singapore Coin Fair.

The low mintages and attractive design of this set of pandas should be very appealing to Chinese coin collectors.

2012 Singapore Show Pandas	Mintage
1 oz Silver Panda	10,000
5 oz Silver Panda	2,500
1/2 oz Gold Panda	2,500
5 oz Gold Panda	99

The production of the generic "standard issue" pandas has grown dramatically in recent years to meet staggering demand. The 2012 1oz Silver pandas will reach an incredible 8,000,000 and the 1/2oz gold 600,000. The generic 5oz silver: 50,000 and the generic 5oz Gold: 5,000. Compared to the standard issue 2012 Pandas, the Singapore show numbers are minuscule! These are on par with 1990's Panda proofs and show medals.

Adding even more potential to these Pandas, collectors have begun to identify unique varieties of each of the Singapore coins. The 5 oz Silver has 3 known varieties, generated as a result of a broken die during minting. The one ounce and the gold are also likely to have sub-types not yet identified. Varieties are good because each type will have a very low mintage, making each a potential rarity.

Demand for these coins at the Signapore show was strong, and the 5oz Gold is now reportedly sold out at the distributor. Current sales of the other coins continues to be brisk.

This is a rare opportunity to acquire some very special low mintage pandas. Once the the modest quantities are sold out, prices are likely to rise.

Will China Buy All The Gold?

noreply@blogger.com (Jay Feldis) — Wed, 21 Mar 2012 06:19:00 +0000

Selling coins worldwide, I have the opportunity to see which parts of the world are running to gold at any particular point in time. Sometimes its America, sometimes Europe, sometimes China. What is interesting (and somewhat disturbing) is that Americans tend to buy late in a run-up when the price is high, but the Chinese buy most when the price is lower. They buy when the big banks, futures markets, and the Fed are putting gold on sale.

Right now, America is asleep as the worlds currencies continue their slow implosion. However, China is buying gold with both fists. Like a giant vacuum cleaner, sucking up every bit of gold they can get from Americans in exchange for bits of US Government paper dollars.

Spring Festival sparks a 'gold rush' in China

noreply@blogger.com (Jay Feldis) — Tue, 31 Jan 2012 07:15:00 +0000

The China Daily reports a 50% increase in gold sales at stores during Chinese New Year this year.

"People seem crazy about gold, snatching it up more like a 'cheap cabbage' than such a precious metal,"..

BEIJING - A "gold rush" swept through China during the week-long Lunar New Year holiday thisyear, with demand for precious metals and jewelry surging since the Year of the Dragon began.

Sales of gold, silver and jewelry rose 57.6 percent during the week-long holiday at Caibai, oneof Beijing's best-known gold retailers, according to data released by the Ministry of Commerce(MOC) on Saturday.

Other jewelry stores across the country also saw sales boom during the period, with customersfavoring New Year-themed gold bars, gold ingots and other types of Dragon-themed jewelries.

"Long treasured by Chinese, gold is no longer owned only by a privileged few, but has becomea new investment channel open to all," said Guan Qiang, assistant manager at Caibai.

The Spring Festival gives people a chance to preserve and present gold as gifts, offeringhopes that it will increase in value and not be impacted by inflation, Guan said.

During the week-long holiday, which lasted from January 22 to 28, the sales volume in Caibaiand Guohua, another of Beijing's top gold retailers, reached about 600 million yuan ($95.28million).

The figure showed a 49.7-percent increase over that of last year's Spring Festival, said areport released by the Beijing Municipal Commission of Commerce.

Caibai began selling gold bars as investment items during the 2008 Beijing Olympic Games, butthe trend of buying gold or silver bars during the Spring Festival has really taken off in the pasttwo years, Guan said.

For Guan and his colleagues, the Spring Festival rush was an exciting but exhaustingexperience, as customers flooded the store and surprised clerks with their purchasing enthusiasm.

"With customers crowding and rushing in, we did not even have time to eat and drink," said asales clerk at the gold bar counter surnamed Li.

She said each shop assistant had received hundreds of customers per day and wrote severaltimes more orders than on ordinary days.

"You can hardly even see the gold bars, necklaces and pendants in the display case. People seem crazy about gold, snatching it up more like a 'cheap cabbage' than such a preciousmetal," said Beijing resident Miao Miao.

"You have to quickly decide whether to make a purchase, or it will be taken away by others."

Link to full article

Chinese Coin Dealers are Quietly Buying Again

noreply@blogger.com (Jay Feldis) — Thu, 19 Jan 2012 07:36:00 +0000

Chinese coin dealers were required to prepay for 2012 Panda and Lunar Dragon coins, locking up a big chunk of cash in December. Now that Pandas and Dragons have been delivered and are being sold to the public, their cash situation has improved. Dealer end-of-year liquidations have abated and Chinese dealers are quietly buying again.

Gold is still much in demand in China. As their cash positions improves, Savvy China dealers will be looking to take advantage of lower prices behind the scenes. They will not chase prices and bid up auctions just yet, but buy they will...

We feel that Chinese coin prices have largely stabilized and some coins are beginning to recover. Now that gold is over $1650, China expected to ease rates, and more QE on the horizon to bail out Europe, those looking to pick-up bargains may want to act soon.

China Private Gold Savings

noreply@blogger.com (Jay Feldis) — Thu, 12 Jan 2012 18:49:00 +0000

The forces behind the Chinese coin market.....

and....

China’s Gold Imports From Hong Kong Climb to Record on Investment Demand

By Bloomberg News
January 11, 2012 4:50 AM EST

China’s gold imports from Hong Kong surged to a record as consumers bought the metal before the Lunar New Year this month and investors sought to hedge against financial turmoil. Bullion rallied to a four-week high.

Mainland China bought 102,779 kilograms from Hong Kong in November, up from 86,299 kilograms in October, according to the Census and Statistics Department of the Hong Kong government. China doesn’t publish gold trade data.

Demand for gold is climbing in China as investors seek to protect their wealth against slumping property prices and equity markets amid an inflation rate above 4 percent. The nation overtook India in the third quarter as the largest gold jewelry market, according to the World Gold Council. The country is also the biggest producer. Bullion rose as much as 0.9 percent to $1,647.45 an ounce today, the highest since Dec. 13.

“China’s appetite for gold is very strong and growing,” said Tao Jinfeng, chief investment consultant at Haitong Futures Co., China’s largest brokerage by registered capital. “The few months before the Lunar New Year is typically the peak demand period for Chinese people.” The weeklong holiday begins Jan. 23. more...

http://mobile.bloomberg.com/news/2012-01-11/china-s-gold-imports-from-hong-kong-climb-to-record-on-investment-demand?category=%2F

Chinese Central Banker Declares That 'Gold Is The Only Safe Haven Left'

noreply@blogger.com (Jay Feldis) — Wed, 11 Jan 2012 22:35:00 +0000

Read more: http://www.businessinsider.com/zhang-jianjua-gold-safe-haven-2011-12#ixzz1jBxBLEZd

China is making an even bigger move toward gold in reaction to money printing around the world (via @JamesGRickards).

People's Bank of China official Zhang Jianhua declared yesterday: "No asset is safe now. The only choice to hedge risks is to hold hard currency - gold."

Zhang, the bank's research director, recommended buying the dips: "The Chinese government should not only be cautious of the imported risk caused by rising global inflation, but also further optimize its foreign-exchange portfolio and purchase gold assets when the gold price shows a favorable fluctuation."

Buying Panda Coins on Ebay

noreply@blogger.com (Jay Feldis) — Mon, 14 Nov 2011 00:53:00 +0000

Chinese Pandas have very low mintages compared to US modern coins, and they are dispersed widely around the the world. Ebay is one of the few places where a large number of Pandas are available for sale 24/7, worldwide.

Ebay and its subsidiary Paypal have significant strengths and weaknesses that are important for anyone trading Chinese coins to understand.

Ebay Strengths

Worldwide market with many coins listed
An large pool of active buyers and sellers of Chinese coins
Fees that are lower than most major coin auction houses like Heritage and Bowers
Paypal has excellent buyer and seller protections against fraud

Ebay Weaknesses

The seller rating system is not sophisticated and doesn't communicate a sellers character.
Unknowledgeable sellers and expert sellers are difficult to distinguish
It can be difficult to identify problem coins vai photos alone.
Scammers occasionally sneak by ebay screening systems, especially in China, and collecting on buyer protections can be a hassle.
Ebay and Paypal fees are still quite high compared to face-to-face deals.

How to use Ebay and Paypal for buying coins

Ebay is excellent for connecting buyers and sellers of chinese coins. Finding coins to buy and comparing prices has never been easier.

Paypal provides fraud protection for both buyers and sellers. If a seller's coin is not as advertised, or not delivered. a buyer can get refunded by Paypal if the seller is uncooperative. Similarly, if a buyer doesnt pay, files a fraudulent chargeback, or tries to use a stolen credit card, Paypal will cover the loss. This very valuable feature allows both parties to have the confidence to make high value transactions online.

Nevertheless, be cautions of sellers like these:

A history of selling $2 trinkets and then suddenly start selling $2000 coins
Gold coins selling under spot
Photos that are "stock" or copied from another seller
Photos that are not of the exact coin
Blurry or dark photos
Prices that are way out of line from other sellers or the price trend.

Although you are protected by Paypal, it is still a hassle to have to wait for disputes to be resolved.

We also recommend buying Pandas certified by PCGS or NGC only, unless you are very knowledgeable and can identify fakes, or you are working with a seller who you trust to identify fakes for you. This will be very important when it comes time to sell.

Ebay and Paypal Fees

The seller pays all Ebay and Paypal fees.

Ebay Powerseller fees vary from 11% for items under $50 and drop to about 2.3% ($114) for a $5000 fixed price item. New ebay sellers will pay 20% more ($137 on $5000) until they are established.

Paypal fees depend on monthly volume. About 2.9% for low volume sellers scaling to 1.9% for those processing more than $100K per month. Typically, its about $110 on a $5000 coin.

Overall, the seller has to carry at least 5% in fees on a sales over $1000. In a business where margins are often 5% or less, this is a huge tax. As a business necessity, very often this fee is embedded in the listed price. It effectively inserts 5% into the bid/ask spread that buyer will have to pay.

Clearly, the value of Ebay and Paypal services are diminished once buyer and seller know and trust each other. Ebay and Paypal fail to consider trusted party transactions in their current pricing structure. As a result, many sales go "offline" in order for reasonable deals to be made.

How to save 5%

If you already have a good relationship with a seller, you may want to ask the seller if he has any coins he can sell "off-line" with a payment by check in exchange for a price discount of 4-5% off a comparable Ebay listed item. The seller will net the same amount and you save a few hundred dollars!

It is against Ebay policy to negotiate off-line sales through the Ebay message system, or to renegotiate items already purchased through Ebay. However Ebay does not have jurisdiction over sales conducted entirely outside of Ebay. So it is best to use the sellers direct email address or a phone call to make this kind of deal. Ask if he has any other coins like the one you saw on Ebay, but at a lower price.

Note that you will not have the Ebay/Paypal buyer protections, so be sure you trust the seller to deal fairly.

Until Ebay and Paypal adjust fees to better match the needs of the coin market, this is a good way to pay less for good coins from reputable sellers.

Auctions

Many of the best coins will be listed at a fixed price, waiting for a discerning collector to come along. However, sometimes Pandas come up or sale on Ebay as an auction rather than at a fixed price. There are three reasons why a seller would use an aution.

the market is hot or the coin is very rare and he hopes that his coin will be bid higher than previous sales
he doesn't know what the coin is worth and lets the auction decide
he doesn't care to maximize his selling price and just wants to liquidate quickly

Mass marketers and pawn shops sometimes dump coins onto ebay to raise cash or take a quick profit. If too many are sold at once, or the auction ends at 3:00am, there are not enough cash-ready buyers online to bid for everything. High-end auctioneers like Heritage manage auctions to maximize prices, but Ebay is unmanaged. This can be a short term buying opportunity for savvy buyers.

Sometimes coins are underbid because the coin has problems or the seller is unkown to collectors. Sellers who "dont know" or "dont care" about pandas, may not be able or willing to properly disclose issues and stand behind their coins.

Auctions can be fun and sometimes good bargains can be found. However, a relationship with a good dealer can help you avoid costly mistakes.

Panda Coin Buying Opportunity

noreply@blogger.com (Jay Feldis) — Sun, 06 Nov 2011 08:31:00 +0000

Like any market, the Panda coin market goes through short term cycles. After very powerful moves in spring and summer of 2011, it looks like this fall is a time of consolidation. With a pull-back in gold from $1950 down to the 1600's, many newer entrants in the market are now hesitating. Some are selling. Did the market peak? Will pandas go down from here?

Whatever the reasons, there are now many excellent quality Pandas available on the market, and overheated prices have pulled back. Key dates and rarities are still quite strong and going higher, but many excellent coins are now re-appearing at good prices.

The old-timers and market savvy collectors see pull-backs as a prime opportunity to find good deals. Major dealers are happily re-stocking at bargain prices. This is the time to buy!

Chinese dealers are buying in full force, raiding US inventories for any gold panda from 1990 to 2003. Certain dates are targeted for accumulation, including 2000 to 2003 gold panda sets. They know to strike when the coins are available, and they are expecting renewed Chinese market strength in December and January.

Gold fundamentals are stronger than ever. We will see $2000 gold soon. The European debt crises illustrates how deep the economic rot has become worldwide. Chinese investors are looking to store wealth outside of the weakening real-estate sector and outside of paper currencies. This trend will continue.

Key coins to watch:

1989 BU Gold, all sizes (maybe not as common as we thought!)
1989-P proofs
1990-P proofs
1992 and 1993 still in thin supply
2000 frosted (1oz and 1/2 already pushing $3000), all sizes
All 1/2oz Pandas

High Flyers - look for deals that wont last:

1998 small and large dates
1999 all types still strong
1995 - ready to catch up to 1998?
91, 92, 93 and 94 proof sets are still being acquired by strong hands

Global Gold Demand

noreply@blogger.com (Jay Feldis) — Thu, 27 Oct 2011 01:55:00 +0000

The graphic below shows that physical gold trading in the US is just a quite backwater. China and India are doing the buying, hand-over-fist.

Chinese gold coins were sold only to foreigners for decades, but now they are being brought back home by eager Chinese buyers. As the China real estate market falters, wealthy Chinese are seeking new places to preserve wealth. That place is gold!

The US panda coin market has been slow in October, but Chinese dealers are buying from US dealers on the weakness. Prices for many Pandas are decoupling from spot gold, and did not decline appreciably despite a $300 drop in gold. Prices on many pandas may not be this low again, and will likely surge with the next run-up in gold.

This represents a once-in-a-lifetime opportunity. Gold Pandas will be sold to Chinese investors. Will they buy the coins from you or someone else?