Was just wondering if there would be a spike in dragon prices during Chinese new year, I know nothing about Asian culture so personally I have no idea but I'd imagine a lot of people would be buying this sort of stuff to welcome the new year in China right? Was hoping to get some opinions of people that have more knowledge of the culture and what has happened previous years, thanks.
Not really going to be a spike in my opinion, the dealers will jack up prices but the local demand won't follow. When Chinese new year rolls around in China, the majority of the effort is focused on food, red packets, gambling, visiting relatives (for red packets) and occasionally Gold jewelry. At least that's what I see, hear and experience, never heard of anybody buying coins or Lunar themed stuff for the new year, except maybe calendars. It's kinda like Christmas, you buy gifts and stuff but it doesn't have to be Santa themed Anyway, with the release of the Chinese lunar dragons, Perth Mint's aren't going to shine as bright in China.
Chinese New Year last for 10 days at least in China, people take long holiday, travel back home for family reunion. I have never seen anyone who got excited by the lunar animals for the 15/20 years I lived in China and Hong Kong. For non-collectors, they get excited when the current year is having the same animal as their birth year.
The red packets are envelopes with money right? I was just thinking some people would substitute fiat with gold and or silver. That was my thinking behind it personally.
Lab, I'm one of the rare ones doin it. Just recently got married so I have to give out red bags to the children. I've changed tradition and have given silver rabbit out as red bag last year. This year will be dragons. Ouch. Excellent way for the children to collect a set of lunar and learn about bullion. Cheers.
Wonderful, I plan to do the same thing this Chinese New Year. Let's start with 1/2oz... koalas maybe...
Haha looks like I may have been right after all . China up 750% or something in silver purchases this year aren't they? I just assumed that some may be switching over to bullion as an actual alternative to fiat. I mean only a tiny fraction of the population has to make the switch to make a difference so I don't see why there shouldn't be a spike in silver demand during the Chinese new year however small it may be. If you don't mind me asking what is this red packet thing? I had an Asian friend that once told me about it. He just said that they give kids envelopes full of money basically. Any history on this tradition that you could maybe enlighten the uninformed about regarding these mysterious envelopes. Thanks.
Red is a good colour for Chinese. Wedding is red, New Year is red, even share price quotation is red if it goes up! Chinese prefer giving cash than gift, just like these days you see gift cards in the Post Office and Supermarket. Receiving cash is far more practical and straight forward when it comes to a wedding, funeral, new born baby, etc... #Funeral never use red pocket unless you want to get your ass kicked, use white. However, you don't want the receiver to know how much you give him until he gone home and open it. Or you don't want any third parties to see how much you give to others(just like when you trade in this forum, you PM offers instead of posting it), that's why the idea of wrapping the cash with red paper arise. It also represents celebration, happiness and good things. Therefore, not just during Chinese New Year when you give red pockets, and not limited to kids who receive them. Wedding, new born baby, first day of work in the Chinese new year, or any occasion, any time that you want to give cash as gift. Giver/receiver are not limited to certain relationships, although in the family/friend relationships, you shall give to kids during Chinese New Year ever since you're married, and you're entitled to receive as long as you are yet to be married. Good boss will also give to his staff, company may give to clients, you may give to taxi drivers or security guard in your apartment, etc... Just to offer a little money to show appreciation.
Get the 1/2 oz Koala Bear, at least it is more memorable. or even 1/10 koala in card. now days can be done via mobile, tt i-pad I think financial storms are near, so there are just too much dragons, many colours too. Dragons must have overdone it, too much water like Bangkok is not good.
Wow, some replays so early in the morning Thnk you asdfghjkl32 for explaining the Lucky Red Bag. Yes, i had also given the rabbit out last year as x'mas presents. True I might switch to he 1/2 oz for more memorable designs. I think for my nephews and nices we are 5 th generation Australians and it not the amount of cash that matters anymore, but he symbolism of red bags to respect the tradition our grandparents have taught us.
Usually it's 50 to 1000 CNY inside the red packets. I sent one tiger to my friend's kid here. I bought some bush babies(Stamp&Coin set) this year as this is kind of Australian special. But I definitely won't give any Australian lunar to my relatives in China. Koalas and Kangaroos are more welcoming. As an investment, foreign bullion is kind of poison. It's hard to sell in China.
