Why are this Chinese .999 Gold Pandas selling at melt?

Discussion in 'Modern Chinese Coins & Medallions' started by silverfever, Aug 27, 2012.

  1. silverfever

    silverfever New Member

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    1986 Proof China pandas. 1.9 oz all together sells for $3150.00

    http://www.ebay.com/itm/180955736442?ssPageName=STRK:MEWAX:IT&_trksid=p3984.m1423.l2649



    Set of 4 Graded 1 oz pandas. 3 69s and 1 68 sells for $6200.00 Basically under melt.

    http://www.ebay.com/itm/4-1986-and-...7730808?pt=US_World_Coins&hash=item4abb2ae678


    Set of 4 1/2 ox pandas Double sealed OMP 2 ozs of .999 Gold sells for $3250.00

    http://www.ebay.com/itm/SET-OF-FOUR...7889035?pt=US_World_Coins&hash=item1e6ffd488b



    Why are this sellers taking a hit after ebay and paypal fees are factored in. Wouldn't it be better just to bring it to a bullion dealer or a pawn shop and get spot?
     
  2. Austacker

    Austacker Active Member

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    Depends on what they purchased them at. If they have already doubled their money so to speak then that may be enough ? Who knows.
     
  3. jc888888888

    jc888888888 New Member Silver Stacker

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    SIMPLE ,THE ECONOMY SUCKS:) folks that have a profit will sell into a rally to turn gold into cash ,the real great deals seem to be in the 1 oz and 1/2 oz it is a big ticket purchase for most people, on the other hand look at the ridiculous premiums that 1/10 and 1/20 fractionals are getting ! commons like 1987 1/10 are being snapped up at 225 +++++++ 2009 NGC ms 69 1/10 the other day sold for 270, 2002 1/10 yes a tough year but??? 1000.00?? I have watched 3 in the last week auctioned for close to that in Ms69, gold IMHO is set to rally up and alot of people sense that..I am watching and bidding accordingly ,and yes every once in a while one goes cheap ,as I am sure the folks that like to talk down the market will like to point out , but I am a buyer of every good condition OMP 1/10 fractional I can get my hands on at 18 % to 20% over spot no matter what year it is:) pm if you would like to sell any 1/10th with your offers:)
     
  4. Reggie Perrin

    Reggie Perrin New Member

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    I got all excited when I saw your post, but all of those have gone :( I'm looking for a couple of Toz over the next couple of months

    (I'm after bullion with no numismatic value, so I was going to go for Sovereigns or Buffalo\Eagle.. I thought there was no chance to get a graded Panda)
     
  5. silverfever

    silverfever New Member

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  6. yennus

    yennus Well-Known Member Silver Stacker

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    I doubt this one will sell near spot... the condition is very good...

    Unfortunately "NO INTERNATIONAL SHIPPING - US ONLY "
     
  7. Guest

    Guest Guest

    Risk

    Putting aside the specifics for a moment on these sales, the general consensus on Chinese PM stock is the risk in trade. Whilst China produces second to none quality on their official product, they are also one of the most counterfitted products in the world and internally, it doesn't seem they are too motivated to stamp out the practise.

    Buying Chinese product has a risk associated with it and in the world of precious metals, a stamp of authority or design doesn't give you exclusive domain on it's properties. Silver is silver and gold is gold, no matter where in the world you go.

    If the risk against counterfit sales is lower in western countries, then most people will be willing to go with that option.

    That said, I do have chinese silver myself, but don't go out of the way to buy their product on a regular basis because of the risk involved.
     

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