As the name implies, the China Panda gold coin features one of the Republics most well-known and most loved symbols, the cuddly Panda Bear. The adorable design has graced the valuable gold coins since they were first introduced in 1982 and has become a popular collector’s item and gift idea.
The China gold Panda coins are struck at the Shenzhen Guobao Mint and are available in four different sizes; one ounce, half ounce, quarter ounce and one-tenth. The coins contain .999 pure gold and are circulated as legal tender. Needless to say they make a great investment, especially when purchased as a gift for a small child who can reap the benefits of your investment when they are older.
There have been 32 different Panda designs which include collectible proof sets between 1986 and 1995. The only year the cute panda design was emitted from the coins was 2001, but was reinstated the following year after coin collectors complain about the changes. The reverse side of the coins features one the country’s oldest Taoist monuments, the famous Temple of Heaven which is located in Beijing.
Gold in China
Early this year, China became the world’s biggest buyer of gold bullion, taking the mantle from India. The Central Bank of the Republic of China has been buying huge quantities of gold since around 2008. Economists are speculating they are preparing to introduce the yuan as the world’s reserve currency given the anticipated collapse of the dollar.
Consumerism of gold in China has also multiplied over the last decade following the emergence of the country’s middle-classes. In 2013, consumer demand for jewellery, bars and bullion coins rose 32 per cent to a record 1,066 tonnes.
The impact of the Chinese gold industry is the result of the significant growth in manufacturing, retail and industry. As you well know, everything seems to be made in China these days thanks to the United States and countries from the Eurozone outsourcing manufacturing to Chinese companies in order to profit from cheap labour costs.
Good time to buy gold
The current market is a good time to buy gold. Now the Ukraine crisis has died down, the market has corrected itself in the wake of the improving global economy. Gold prices were up to $1260 in early trading hours in Asia on Wednesday following global cues after disappointing US economic data on Monday.
However, with more economic data due for release later in the week, positive numbers will see gold bullion prices fall back to around the $1250 mark they started the week off at. However, if the retail data is lower than predicted, gold prices could be pushed further upwards.
All in all, the global economy is getting stronger which means gold prices will gradually fall in 2014, making this a great year for investors looking to add the safe haven to their investment portfolio – or purchase the cutest gold panda coins as a gift for a loved one.