Nanjing Exchange was opened about one year ago. Since then four more exchanges were added. More than one Billion RMB of stamps, banknotes and coins were traded daily. The most popular funds being traded are Total Index, Stamp Index, Banknote Index, and Coin Index at 福丽特Exchange located at Beijing.
Actually, there are only very few PM coins traded at those Exchanges and panda is not included. The majority of traded coins are circulated Cu-Ni commemorative coins, especially 1 Yuan lunar coin. The price of 2003 1 Yuan BU goat coin, the first year of the lunar series with a mintage of 10 MM, has moved up more than 200% (US$30 to US$90) since the formation of the Exchanges.
Since the concept of Exchange is very new, the manipulation by some investors can not be avoided. Many funds has very low trading volume, one single share of fund can move the price up or down 10%, the daily limit. Time will tell if those exchanges can help or hurt the MCC market.