Chinese Silver Pandas
Commemorating the beloved bear that resides in Chinese bamboo forests, the Chinese Silver Panda is a silver coin that is annually produced at the Chinese Mint. This coin series had inconsistent beginnings, but it has since come to be one of the world’s most treasured bullion coins.
Most sovereign minted coins keep the same designs from year to year, but the Silver Pandas are released with a new obverse design each year. This adds to the coin’s collectibility and value. If investing is your primary goal, you will be pleased to know that Silver Pandas are eligible for most precious metals IRA accounts as well.
What is a Chinese Silver Panda?
The Silver Panda is China’s flagship bullion coin, which was first released in 1983. It took years for the Silver Panda to find its footing, with varying purities, weights, and designs. The mint eventually decided to make a one troy ounce coin from the industry standard .999 fine silver. However, the Silver Panda was transitioned to the metric system of weight in 2016 to appeal to more international consumers. The new Silver Panda now weighs 30 grams.
The Silver Panda’s obverse features a new panda design each year, often seen among a forest of bamboo shoots. The design on the reverse, which remains the same from year to year, features the Taoist Temple of Heaven in Beijing.
Who Produces the Chinese Silver Panda?
Chinese Silver Pandas were originally manufactured by the Chinese Mint branch located in Shanghai. While they are still made in Shanghai, they are also made in Shenyang, Shenzhen, and Beijing due to growing popularity. Silver Pandas do not carry mintmarks despite multiple mint locations.
The Chinese civilization is one of the world’s oldest, producing currency for centuries and credited for creating the first banknote. Since the modern Chinese Mint was established, it has been responsible for producing circulation coins, bullion products, and commemorative products. Though best known for the Gold and Silver Panda series, the mint has also won international awards for the designs of several other coins like the Marco Polo Silver Commemorative.
What is a Silver Coin?
Produced by a sovereign mint, a silver coin’s purity and legal tender value are backed by the government of the country of origin. The manufacturing process is regulated to guarantee the quality of each bullion coin. Even though these coins can be used to pay for goods and services, the value of the silver content far outweighs the legal tender value. This makes them a valuable asset for investors and collectors.
What are Chinese Silver Panda Coins Worth?
Each Silver Panda has a legal tender value of ten yuan, but the value of the silver is far greater. The coin’s worth will fluctuate according to silver spot prices, but silver has proven itself to be a stable, safe investment. Silver coins are affordable and easy to store, making it a favorable option for both new and seasoned investors. You can rest assured that your Silver Pandas will be made from a pure form of the metal, rather than alloyed with a lesser quality metal like many pieces of jewelry and other silver products. Additionally, the changing obverse design of the Silver Panda make them particularly valuable among coin collectors.
What is Spot Price?
A precious metal’s spot price is simply its current value. These prices change throughout the day in reaction to international economic activity and geopolitical news. You can visit the Provident website anytime to see up-to-date spot prices, along with more in-depth charts with data on silver pricing.
Why Choose Provident?
Chinese Silver Pandas are just a small portion of the large selection of precious metal products offered by Provident. We strive to offer you high quality bullion for competitive prices, all while making your security a top priority. You can browse our site at anytime or speak with one of our knowledgeable customer service representatives to find the right bullion for your investment goals. Feel free to visit our blog as well for more information about market trends and fun facts.