These globally acclaimed coins come out each year sealed in the Chinese mint’s original plastic. The one ounce coin contains 30 pure grams of gold struck in .999 fineness and has a legal tender face value denominated at 500 Yuan.
Chinese Gold Panda Background and History
These Chinese Gold Panda coins are popular thanks to their history of being made with high quality gold, and the most recent change in measuring weights using metric system measurements makes them even more appealing.
The new grams sizes replace the troy ounce weights of all prior dates in the coin series, causing some confusion for American collectors but delighting European and Asian audiences.
In the year 2016, there have been changes in size and weight of Chinese Gold Panda coins. The mints that strike these coins are located all around China including Beijing, Shanghai, Shenzhen, and Shenyang. Each coin is guaranteed for purity by the People’s Bank of China since they are struck at different locations apart from one another to get a better view on quality control.
Chinese Gold Panda Physical Characteristics
The front of the coin shows The Hall of Prayer for Good Harvest in Beijing’s Temple of Heaven. An inner circle contains an image and inscription, while a Chinese ring describes the year at its bottom and “People’s Republic” on top.
The reverse side of the Chinese Gold Panda coins is special because their design changes every year, but it always features one of China’s rare and beloved pandas. The panda bear inhabits forests in China where they are adored for their innocence, mild temperament, relaxed look and distinctive colors.
These pandas provide the coins with their unique appeal. The 2016 reverse design showcases a panda while it is clinging on to branch of tree in backdrop are bamboo stalks and wall façade inscribed beneath this image along w/legal tender face value & technical spec’s “30 gms Au .999”.
Chinese Gold Panda coins come in various weights and sizes. The most popular of which are the one ounce (30 grams) size, with dimensions as follows:
- Mass: 30 grams
- Diameter: 32.05 mm
- Thickness: 2.70 mm
- Content: 99.9% gold
Chinese Gold Panda Pricing
Chinese Gold Panda bullion coins are legal tender in China. Each coin denomination has its own face value worth, as stated on the coin. The most popular one ounce version is 500 Yuan and can be spent for this sum, but no one does this in practice because of how much intrinsic gold it’s actually worth based off current trade prices which heavily depend on supply & demand available at the time.
An intrinsic value makes up the market price. It is this that determines how much a coin’s worth when included in an investment or retirement portfolio. The premium on these coins above gold spot prices comes from collector and investor demand, to help cover distribution costs so they can be made available for purchase by others who want them as well! Intrinsic values of numismatic precious metal coins are constantly changing alongside fluctuating day-to-day changes in the daily global markets’ leading commodity: gold! You have access to real time updates about fluctuations via our homepage whenever you’d like – just click away at your heart’s content!
Can IRA Accounts Contain Chinese Gold Panda Coins?
The Internal Revenue Service is responsible for determining if a particular gold or other precious metal coin qualifies as an IRA contribution. These IRAs can only contain coins that meet IRS purity and collectibility standards. To open such an account, the government requires $5,000 minimum purchases of gold bullion; additional investments must be at least $1,000 more than this amount.
The IRS approves of third party vaults that keep and safeguard your precious metals, once such bullion has been purchased.
The Chinese Mint is not an approved foreign mint for IRA coins, and therefore cannot be included in precious metals IRA accounts. Although they are a fine investment choice otherwise, the Gold Panda coin may not be used as part of such investments due to their lack of collectibility status. These gold Pandas can only be bought from reputable dealers around the globe who sell these bullion pieces online or at physical locations globally.