The Republic of China's .999 fine gold Panda
series was one of the most successful bullion
coins of the 1980's. Response in the U.S. to
these warm and fuzzy little panda images was
very positive, and the concept of a premium-priced
bullion coin was established, as the gold Pandas
became popular collectibles. In the past few
years, the Panda has become more and more popular
with gold buyers in China and around the world.
By changing the design every year, the Chinese
were able to build a steady demand for these
products regardless of gold price fluctuations.
Gold Pandas also encouraged jewelry use, as the
one ounce coins were set in necklace mountings,
and the smaller sizes were sold in pendants,
bracelets, and earrings. Panda coin jewelry became
quite an item in the U.S., and the rest of the
world.
Pandas are issued by China at a higher percentage
over the actual gold price than standard bullion
coins, and pioneered the idea of a modern collectible/bullion
coin. 1982 was the first year the Panda was issued,
and by 1987 collector interest was so high that
specimens of the one ounce 1982 Panda traded
for over $3,000.
Other early year Pandas also sold for big premiums
in the after-market at that time, and Panda mania
was on. China found itself sitting on a gold
mine, so to speak, and expanded their product
line to meet the growing demand. Very few
collectors were buying the yearly new-issue Pandas.
Today, when the Panda issues from the 1980's
come on the market, they bring a fraction of
their 1987 high prices. However, the dated coins
from the mid-1990's are hard to find, as
the mintage figures are now much lower than during
their heyday.
Demand from China itself is starting to expand,
and this may become a significant demand factor
in the future, both for current and past issues.
In the meantime, the gold Panda series continues
to roll along.
Special Proof Sets were issued of the gold
Pandas, presented in lacquered boxes with silk
linings, and marketed for more than twice the
gold value. Enormous 5- and 12- troy ounce gold
Panda "hockey pucks" were issued in
limited numbers, and at huge premiums.
Also, additional commemorative issues of Panda
gold coins seemed to appear at the drop of a
hat. At coin conventions, where these limited
edition special issue Pandas were distributed,
buyers lined up outside around the block just
to get the chance to purchase them.
By 1987, China offered the regular Pandas
with two different mint marks, the boxed Proof
Set with a third mintmark, plus a 5- and a 12-
Ounce giant Panda. The Panda collector found
herself looking at an investment of about $20,000
just to have one each of the multitude of 1987
Chinese gold Pandas issues. At this point, the
bubble didn't exactly burst, but the air was
definitely starting to leak out of Panda mania.
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