For reference, here are pictures of the item in question. Again, I have this coin, but the one pictured is just a stock image. I am excited to report that I received notice from NGC today that my 1997 1/20 oz Platinum Chinese Panda graded out as PF69 Ultra Cameo. I am looking for more information on this piece. 1. Does anyone have any information on what the actual mintage of this piece may be? Through my research I have noticed that there is an "official" mintage of 5,000 pieces, but the actual number of pieces minted is considered to be "a fraction the stated number". Other sites say that there may only be 100 or 200 in existence today. Does anyone have more information on this? Also, what might have been the cause for such a reduced mintage of these? 2. What would be a good value to put on this piece? The NGC price guide gives a price for a 69 at $6,500. The PCGS price guide gives a price for a 69 at $6,241. I understand that the values given should be somewhat taken with a grain of salt. I also understand that the actual prices of rarities such as this are going WELL ABOVE (sometimes double) the US prices when being traded overseas in China to prospective buyers. 3. I am interested in selling this piece, but every buyer I talk to wants to me to give a price first. I understand that this must be an ultra-rare piece, but there must be some basis to come up with a price point initially. Does anyone have any information on what these may be traded at? Has there been a recent auction or sell of this particular coin with an actually sell price listed? Any help on any of the above questions would be greatly appreciated. I unfortunately do not have the piece back in my hands, otherwise I would have posted a picture of the piece. Also, any further discussion on the Chinese Platinum Panda series, and this piece in particular, would be very much welcome. Thank You.
Patience. You will get sone answers soon when the members start waking up. Well, speaking for the US members.
Chinese platinum coins have somewhat been a curse to Chinese mint as the demand was not there when they first struck the coins. Pattern platinum panda coin first occurred in 1983 and it was assumed that there was no demand. There might have been other platinum medals but that is out of my field. The first official platinum coins appeared in 1987 and the overall operation was canned when platinum prices went out of control. The real problem is with the accounting process with Chinese including the former Eastern Europe in particular communist era. As far as I am aware, there will be mintage figure which is often quoted as number of coins struck, or theoretical maximum number of coins allowed to be struck. For argument sake - let's leave it at the number of coins struck. But because there is no real intensive to sell such coins at central banks - if they don't sell, they often sit in there for who knows how long it would take. When precious metal prices rise, it would be wiser to bring the old stock back and melt them down. This is where the problem arises - if proper accounting is supposed to be done, there should be a reconciliation of how much was melted down and what the overall final number of coins was sold to the public. To compound the matter worse, smaller platinum coins in particular panda coins are favorite coins to be used for jewellery. Hence you can imagine why there is such high price for your coin. Understandably, a mintage number would be nice but I guess it's the final price of the coin that matters the most. Let's just sell it to the person that wants it really badly and pays handsomely.
No idea, but someone on this site might help http://www.china-mint.info/forum/ Or, consider consigning to an auction. You will take a haircut on the price due to fees and whatnot, but you would get maximum exposure and not have to worry about getting scammed. Stacks and Heritage run auctions in Hong Kong for example.
If you contact NGC they have an expert that specializes in Chinese Panda Coins. It was Peter Anthony. I don't know if he is still with NGC.
I am going to buy a 1/20 ounce 1997 platinum panda coin off a friend,what would be a fair price to pay for it,any help would be appreciated.
