China Changes 2016 Precious Metal Coin Designs After 2015 Failure
GoldSilverBitcoin – People’s Bank of China will release on October 28, 2015 the 2016 Panda coin set.
The coin’s pattern will show the Beijing Temple of Heaven, and feature the country name, reign. The reverse patterns will show a panda climbing a tree, published denomination, weight and fineness. This is different from the 2015 version, which left out weight and fineness, and troubled many precious metals dealers due to this lack of detail.
“I won’t sell it,” one wholesaler told me, who chose to remain anonymous. “Without the date, fineness, and all the details you normally get on not only a government issued coin, but also a private coin, I wouldn’t trust it.” Chinese Pandas are already known as one of the more counterfeited coins on the market.
“The potential for counterfeiting isn’t so much a worry, as most counterfeits are easy to detect,” the wholesaler – who does nearly $1 billion a year in sales – told me. “It’s just an unprofessional coin, and if anything, to encourage buying in light of the Bank’s oversight, the premiums should be lower on 2015 Pandas than other government regulated coinage.”
The Chinese Silver Panda is among the most desired silver bullion coins on the market, thus giving it semi-numismatic silver coin status.
The Chinese Gold Panda was the first Chinese minted bullion, and it was minted as a gold coin in 1982. The 1 oz Chinese Silver Panda was first minted in 1983. Among the first bullion coins issued by the state of China, the 1 oz Chinese Silver Pandas are surely a piece of history. The infamous panda bear design on the silver coin’s reverse side has changed each year save for 2001 and 2001. The 1 oz Chinese Silver Panda‘s obverse shows an outdoor scene of The Hall of Prayer at the Beijing Temple of Heaven.
The Silver Chinese Panda reverse design changes from year-to-year, and features a variety of action poses of the giant panda such as eating bamboo and climbing trees. These images of the giant panda’s charm are depicted with an artist’s clarity on these coins, making theSilver Panda among the most-collected semi-numismatic silver coin.
The Silver Panda coins have aged beyond the quarter century mark and the last 28 years have seen Chinese Gold Pandas, Chinese Platinum Pandas, and Chinese Palladium Pandas.
The Silver Panda has become the standard in precious metal coin series in modern day China. In 1983 the Gold Panda coin won the title of the World’s Best Gold Coin of the Year, the first international award for any Chinese modern commemorative coin.
The first Chinese Panda coins issued in 1983, 1984 and 1985 were minted solely as Silver proof coins, with a silver metal content of 27 grams of .900 fine silver and each with a diameter of 38.6 mm, mintages were only 10,000 for each of the three years. There were no Silver Pandas minted in 1986.
The 1987 Silver Panda was minted in proof quality from 1ozt. sterling (.925 fine) silver with a diameter of 40 mm. All modern Silver Pandas are composed of a full 1oz or 31 grams of .999 Silver. The coin is minted in both bullion and proof quality, each with a diameter of 39mm. In 1997, a colored Silver Panda was released by theChina Mint, as well as in 1998 and 1999 each of three coins had a mintage of merely 100,000 coins and came with a case and certificate.
In 2010, 800,000 silver bullion Panda coins were released – the most released in one year by the China Mint. Silver proof panda coins are not released each year and do have low mintages as low as 8,000 to a mintage high of 31,000 coins.
Early Panda coins sell for astonishing premiums due to their rarity, but do buy from reputable dealers like Gold Silver Bitcoin for there are fakes in large numbers of