I've started accumulating a collection of 10 Yuan (1 oz.) silver Pandas (1989 to current). Many are double-sealed or in their original capsules. I absolutely love these coins. I've noticed that some folks are eager to have their Pandas graded...while others are not so enthusiastic about the idea. In your opinion, what are the pros and cons of having sealed Pandas graded? Good idea? Bad idea?
As you are in the US they do seem to get a higher price, however in Australia it has not followed this trend. There is also a fair price in getting graded and I would only go with NGC or PCGS if it was me, my preference is for the latter.
A MS70 panda will fetch several fold premium over a non-graded BU. MS69 will usually be half the price of a MS70 (or thereabouts), depending on the date and the population of that grade. Anything below MS69 is pretty much a waste of money to grade. (unless its key-key date like 83,84,85 or proofs). In fact, a double seal ungraded Panda will sometime fetch higher price than a MS68 or lower. A lot also depends on whether its a key date or proof. In addition, some new buyers prefer to buy graded Pandas as they do not want to fall prey to scammers selling fakes, especially if paying top dollar for a rare key dates. So, its a gamble when you send it for grading. If it comes back a MS70, you hit home run. If its a MS69, still not too bad. Anything less than that, money wasted.
If the coin is in the original double mint seal I wouldn't worry about grading it. From what I've seen it doesn't appreciate the value beyond that of the sealed coin. Also, I have purchased graded Pandas to find they have degraded way below the original cert seal. Any form of handling has a deteriorating effect on the silver. Especially exposure to the atmosphere. There are some good Panda sellers on eBay over in the US. Unfortunately they want to charge a small fortune for freight which kinda makes it a poor deal here in Aus. Good luck with your collection.
The problem is that a lot of the graded Pandas are probably fakes or at least the grading cert is fake.
Fake Pandas exist and it is easy to spot if you know what you are looking for. The problem is not as prevalent as it is make out to be. Most reputated ebay sellers and online dealers are reliable. Not easy to find fake slab Pandas in fact, though fake BU Panda does surface once in a while. In fact last week a scammer listed a bunch of fakes on ebay.au which were very obvious fakes but I was surprised that it received numerous bids. Here's the same seller using a different id now listing his fakes in ebay.ca http://shop.ebay.ca/liwanglutong/m.html
What do they say about imitation being the sincerest form of flattery? I learnt my lesson on Pandas a long time ago. Only buy from trusted sources. A low price is the instant giveaway ! Guaranteed to be fake.
Silver Pandas do sometimes degrade over time in their original pouches. Until 7 or 8 years ago the pouches contained PVC which can damage coins that it comes in direct contact with. The hard capsule prevents gunk from forming on the Panda's surface but there may still be some gasses released, or sometimes the pouch seal breaks. I like to put the coins in air-tite capsules and then seal those in clear archival pouches. Slabbed coins go into pouches, too, by the way. Pandas are delightful coins, a joy to collect and often quite profitable but I agree with Dynoman, "Only buy from trusted sources." You can find a gallery of what to avoid at: http://www.pandacollector.com/rogue.html. The Bad Bears page will soon expand as a kind soul has just sent some new fakes to me to document and publish. He had the misfortune to come across the ioffer website. Its coin section could be renamed, I offer counterfeits, in my opinion. Best wishes, Peter Anthony http://www.pandacollector.com
I totally agree Peter, it's the scariest place in the world to buy coins. The curious thing is the best Panda supply contact I ever made was on iOffer ! I'd say 99% of the cheap coins offered on this site are fake. Where are the cybercops when you need them?
I'm stunned that there was even one honest Panda seller on iOffer. Best wishes, Peter Anthony http://www.pandacollector.com
