Why do Chinese pandas warrant such huge premiums? Does the government of china not label them as bullion rather than collectible coins?
Highly in demand I would guess. Don't underestimate the power of pandas on coins. The constantly changing reverse and the cute depiction of pandas apparently makes them popular to collect even amongst people who otherwise wouldn't collect coins at all. Definitely going to try to get 1 2013 myself, in silver at least.
Its surprising to see that no large private manufacturer is copying the panda on their rounds. I'm sure premiums on generic rounds and bars with pandas would probably move up if this occcurred On another note its going to be interesting to see if we are currently in a numismatic bubble in regards to China's coinage in general or if the shift in demand is permanent
I do agree with you that the premiums are high on the newer pandas with MILLIONS of planned mintage. However, it makes the older pandas with way less than 1 million mintage seem like bargains! If you want to get a 2013 panda, look for the smallest premium. According to http://www.pandalunarcoins.com/2012/12/01/2013-chinese-silver-panda-shopping-guide/, 2013 silver panda can be had for as low as $40.93!!! That is more reasonable than the $46 PandaAmerica is asking!!!
That's also a great point to consider, I suppose if you think Chinese demand will keep steady or even increase the old silver pandas might be a great bet right now. A similar trend exists for gold pandas.