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 Replies: 18 / Views: 5,904 |
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Valued Member
United States
98 Posts |
Is there reason why 2016 Chinese Panda Silver prices went up so high? APMEX is asking more than $21.99 over spot price ($37.25 cash) for this coin now even though they only pay $20.16 to buy it. If I remember correctly, premium was less than $8.00 couple months ago for same coin. |
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Valued Member
United States
56 Posts |
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Pillar of the Community
United States
2543 Posts |
It is because the 2015 and the 2016 are landmarks in the Panda series. In 2014 China announced that 2015 would be the last Pandas minted using the world bullion troy ounce standard. Starting in 2016, China would be minting all future Pandas using the metric designation of 30g instead of 1oz. Going by the old collector's adage of "always collect the first and the last year of every series", APMEX is taking advantage of, what they anticipate, will be a run to hoard these landmark issues. Edited by denco7
02/29/2016 10:53 am
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Pillar of the Community
United States
589 Posts |
It is still an outrageous premium.
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Pillar of the Community
United States
7390 Posts |
Well I'm very happy that I bought a "roll" for $21 per on presale  |
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Valued Member
United States
56 Posts |
Same here Cascade, since I posted that link Provident has raised their price to pretty much match APMEX. #Insanity |
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Pillar of the Community
United States
1088 Posts |
I haven't seen them reasonably priced either
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Pillar of the Community
United States
1205 Posts |
People are paying heavy prices for these. I sold 10 ---1 gram gold pandas for 129 EACH....on ebay...the buyer knows someday, HE will make a profit with this new weight. Sold 5 minutes after the listing was up...at that time, only 1 other seller had them, and it was some funky "I may or may not get these in, but.."..huh is up with a sale like THAT? |
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Pillar of the Community
United States
3789 Posts |
Makes total sense to me and not surprised one bit.
The trend is higher for these 2016 pandas, gold and silver. Seeing that prices are now rising for silver and gold, this is going to be explosive combination for higher prices in the future and as time goes on.
I mean I would have no problem buying a sheet of silver 2016 pandas or buying gold pandas.
plus you add the fact that they are now changing up and starting this year with no more ounces and starting with grams,, well you got a 1-2 combo.
That said, I am a champion of Somalian elephant coins, so make sure you get those first. lol jk
But no really, I say, back up the truck on the gold pandas, gold is going higher, uptrend just started. Silver is looking better... so I mean you got better conditions now for the PMs and the fact that now its all Grams going forward, this specific year is going to explode higher down the road and as time goes on.
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Pillar of the Community
United States
5832 Posts |
Hmmm! I may have to buy a sheet or 2, will see how silver prices go tomorrow night.
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Pillar of the Community
United States
1205 Posts |
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New Member
United States
17 Posts |
I've recently been adding MS70 Silver pandas. The small increase in price (and it is small right now) between graded and ungraded is easily offset by not having to have any worries about fakes (both for myself and the next owner)when I go to sell. With some work, these are available in the mid to upper $30s in MS70 grade right now.
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Valued Member
 United States
98 Posts |
I was able to finally get 5 2016 Panda coins. They are nice but expensive.
I'm debating whether to go start purchasing 1982 to 2012 panda silver coins for the set...
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Pillar of the Community
United States
604 Posts |
Quote:
I'm debating whether to go start purchasing 1982 to 2012 panda silver coins for the set... Not an easy set to accomplish since the earlier Panda's are expensive. I would like to have a complete set but highly doubt I will ever be able to complete it on my budget. |
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Pillar of the Community
United States
3789 Posts |
the only thing I wonder is, for stackers, do they really want pandas now since its grams. 1 silver panda is not a full ounce as an example. so what does a stacker do? buy 2 pandas for every "ounce" he is trying to stack?
As far as me, I like my gold coins to be 1 oz and then I collector lower sizes. None of this silly stuff gram stuff, to me a it is a turn off.
maybe its the OCD side in my collecting lol
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Pillar of the Community
United States
1205 Posts |
Yes, too bad not a global universal system YUP. I did cave in, and got 3--15 coin sheets of the 1 oz...ooops....30 gram silver pandas...of course, timing was off...see the same sheet for $30 bucks less now...oh well...you can't win em all...eventually, ALL will go in for grading, so, when I sell them, no "Monkey Business"(maybe we should call it "Panda Business"!)...I also just sent in my 15----1 gram gold pandas to PCGS for grading...and, ALL my world and USA raw gold and palladium and platinum coins...I do NOT want to sell raw coins on ebay, with all the switcherooos out there. |
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Replies: 18 / Views: 5,904 |
Posted 02/29/2016 10:51 am
