Author Topic: 2007 Xi'an Bank and CITIC Bank real mintage?  (Read 1365 times)

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Offline PandaOrLunar

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2007 Xi'an Bank and CITIC Bank real mintage?
« on: January 10, 2013, 10:18:04 PM »
Anyone know the actual mintage of the 2007 Xi'an City Bank and CITIC Bank coins?  Given the market price, it cannot be the planned 20,000 mintage each.

Offline pandaccumulator

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Re: 2007 Xi'an Bank and CITIC Bank real mintage?
« Reply #1 on: January 11, 2013, 12:03:19 AM »
I own both coins. I remember when I bought the CITIC Bank a year and half ago, there was a total of 7-8 being graded by NGC by then, today there is only 16 graded. The planned mintage was 20,000 for each, based on the high price, relatively small collector's base and how often these are available, my guess is each survival figure is less than 2000, perhaps under 1000. It is possible that these were distributed to bank employees or given as VIP gifts, and the remaining unsold were melted by the bank.

Offline Russ 736

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Re: 2007 Xi'an Bank and CITIC Bank real mintage?
« Reply #2 on: January 11, 2013, 08:54:28 AM »
I also own both coins and know two other collectors who have them. In the case of the CITIC, the common theory is that the coins were indeed given to employees and VIP and that it is bad form to sell a gift like this. For that reason the coins remain off the market. When I obtained mine there were only 4 graded and the grades were horrible. Three came on the market as raw coins through Xu. All three graded MS69 through NGC. At a price of $2000 OMP I really expected many more to find their way to the market place but it hasn't happened. That leads me to believe that the number of coins in existence is pretty low.

Russ

Offline NBM

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Re: 2007 Xi'an Bank and CITIC Bank real mintage?
« Reply #3 on: January 11, 2013, 04:36:09 PM »
Peter Anthony covered these in his Pricepedia last year.
IIRC these banks either went under or had financial crisis that caused possible liquidation/melting of coins.

Offline gerald

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Re: 2007 Xi'an Bank and CITIC Bank real mintage?
« Reply #4 on: January 13, 2013, 11:25:59 PM »
Xi'an bank, perhaps. But CITIC?

Offline NBM

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Re: 2007 Xi'an Bank and CITIC Bank real mintage?
« Reply #5 on: January 14, 2013, 12:06:36 AM »
Xi'an bank, perhaps. But CITIC?
My apologies, it was Jinan and Xi'an that suffered some problems not CITIC.
Peter covered these special event Pandas in Feb., March & April of last year.

Offline pandaccumulator

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Re: 2007 Xi'an Bank and CITIC Bank real mintage?
« Reply #6 on: January 14, 2013, 12:56:19 AM »
Xi'an is a local small bank, CITIC is a much larger bank doing business at national level. Jinan bank is also a small local one.

Offline gerald

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Re: 2007 Xi'an Bank and CITIC Bank real mintage?
« Reply #7 on: January 14, 2013, 01:04:59 AM »
My apologies, it was Jinan and Xi'an that suffered some problems not CITIC.
Peter covered these special event Pandas in Feb., March & April of last year.

Thanks for the clarification, NBM!

Offline comeaux

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Re: 2007 Xi'an Bank and CITIC Bank real mintage?
« Reply #8 on: January 14, 2013, 03:07:29 PM »
Here’s a cut and paste of the NGC graded Panda Commemoratives census from 2004 to 2009 …