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Monday, September 24th, 2012
The Chinese Panda
To the gold coin collecting novice, it may come as quite a surprise that China holds a patent on a gold coin that is popular as far as numismatics go. Many people would have never considered the idea that a coin made in China could be equal to the gold prices of American and European coins, but the Chinese Panda is just as popular as any other gold coin. These coins have variations each passing year; this is its most popular trait and keeps it in extreme demand on a yearly basis. Depending on the design any given year, the gold prices in China may be even higher than in the United States and Europe!
The first Chinese Panda coin was minted in the year 1982. This makes it a coin that is only a couple of years older than other gold coins that are currently on the market. The gold prices depended on the weight of each Panda. Its standard weight is about one ounce. There was one that was released in the weight of one twentieth of an ounce back in 1993 so its gold price was a bit more due to its rarity.
For the most part, the gold prices when dealing with Pandas are in sync with the other most commonly sought out gold coins. The Panda is in no way overpriced; it’s on spot price is around $100 per ounce. The only expense connected to these gold coins is when a collector is on the run for a rare version. These rare Pandas were only produced in small quantities. If you just want some Panda coins then you will not be breaking the bank to get them. It is the rare ones that have gold prices that are through the roof. The Panda coins that are lowest on the totem pole are the ones that have never been circulated. They are produced at higher rates for collectors and are extremely convenient to find; especially online. These Chinese coins are not something you will come across in coin shops across North America so the internet is your best bet.
When purchasing Pandas online, the one risk you are running as a novice collector is being sold fake gold. Because of the fact that there are changes in this coin each year, it is the most common for being counterfeited. Little differences may not be noticed by a beginning collector, and even the most seasoned collectors are sometimes fooled by disreputable coin dealers when it comes to the Panda coins. For this reason, when buying online it is best to go with the proofed coins instead of those that went uncirculated. This way you know that you are getting what you paid for. Also, have an image of the coin you want to buy on hand for comparison of that on the website. You should make sure that the marks on the original are consistent with the ones on the coin you are planning to purchase. By doing so you are ensuring that the gold prices you are paying are fair for the coin and that you are getting the real deal.