Chinese coin dealers were required to prepay for 2012 Panda and Lunar Dragon coins, locking up a big chunk of cash in December. Now that Pandas and Dragons have been delivered and are being sold to the public, their cash situation has improved. Dealer end-of-year liquidations have abated and Chinese dealers are quietly buying again.
Gold is still much in demand in China. As their cash positions improves, Savvy China dealers will be looking to take advantage of lower prices behind the scenes. They will not chase prices and bid up auctions just yet, but buy they will...
We feel that Chinese coin prices have largely stabilized and some coins are beginning to recover. Now that gold is over $1650, China expected to ease rates, and more QE on the horizon to bail out Europe, those looking to pick-up bargains may want to act soon.
2 comments:
The BIG question is... when are the 2012 Silver Pandas gonna drop in the United States! I can't believe NOBODY still has them in stock! Any word??? Thanks - Awesome site BTW
The rumor is that the mint or distributor has delayed the release of silver pandas to wait for silver prices to recover from the recent correction. No word on how long they will wait, but perhaps $35 spot will be the magic number.
Post a Comment