World Coin Wednesday....
Hello my stacking friends....
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Today is blog number three of #worldcoinwednesday. Today we are going to the Far East. China to be exact.
The coin I am going to show is not currently in my collection anymore. But it was mine at one time.
So I was a huge fan of the Chinese Panda coins and had every single year. They started being produced in 1983, they were made out of 90% silver at that time and were much smaller weighing only 27 grams. There were no panda coins minted in 1986 or 1988, and the coins in 1987 were made from Sterling silver. It wasn’t until 1989 when they started being produced in .999 silver. That's also when the montages started going up.
The first three years only had a mintage of 10,000 coins. They were all struck as proof. Then for several years the numbers were all over the place from 120,00 to 250,00.
Roughly three years ago I was organizing my collection at my private storage facility when I almost lost my mind. All but three of the .999 silver panda coins had started milk spotting. What pissed me off more were that almost all of them were graded and slabbed MS70.
I had every year of coin in the series and from 2000 to current at the time I had graded and slabbed MS70 coins.
I paid crazy money for some of these coins. At the time many of them had less then 50 MS70 as population reported. Needless to say I lost thousands of dollars.
I did manage to make a good profit on the three that had yet to milk spot. The coin I am going to share with you is one that I sold to an NGC registry set owner who was missing this coin. I sold this coin three years ago for $2200.
In looking through my spreadsheets I paid $470 for it. But that doesn’t make up for the losses on all the rest.
I currently own one graded panda which was actually part the the last Monster Raffle, but the person who won asked for a surprise coin instead. So I still have it.
Enough of that, here is the 2000 Republic of China one ounce silver Panda coin grade MS70 by NGC. And it is gorgeous.
I am so disappointed that this happened that I’m actually a little shocked I even shared it.
I like the pandas prior to them dropping beliw an ounce but they have the series issue of quality (like a lot of things from China. Great sales pitch but low performance). Your experience is also why I dont do any slabbed coins unless they are early 90% American or extremely rare. I must confess I have one slabbed Panda that was one of my very first wins on YouTube. I will have to show it one day. Thanks for sharing brother!!
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I get it but the value on these older ones is not the metal content. It’s the only slabbed coin I’ve ever had milk spot on me.
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Frickin’ milk spots!! faaaaaaaaaak!
I almost world coin Wednesday’d today. But garbage posted instead. It was definitely on my mind.
Thanks for starting all these funky tags.
☺️
Excellent Panda!!
Wasn’t there a time a few years back when There were fakes going around???
I think this was why I held off picking up Panda’s...🤔
Pandas are the number one counterfeited modern coin. If you buy them from a dealer you are fine. It’s the eBay Chinese fakes.
Thats what my LCS told me... they sad they would always buy back any Panda.
Beautiful coins!!!!
I really like the Chinese bullion. The pandas are Great, but I've always wanted some sycee bullion (I think that's what it's called) the little sorta boat shaped bars.
It goes to show that investing and saving in precious metals is so worth it, bestie!🥰👍🤙
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