Topic: Accidentally purchased an extra 2016

[Mirkkanen]

I think you are misunderstanding pandemonium's intent. He's not trying to kick you out or advise you to leave. He was saying that a 2016 gold panda is really a bullion coin and that if you want to sell it or be buying bullion, your best bet is on a bullion forum, which this is definitely not. The majority of items bought sold or traded here go for between 2 and 10 times the value of their gold content.

[poconopenn]

Welcome to the forum.

This is a friendly forum and we welcome to share information about Chinese coins. IMO, this is the best forum for Chinese panda coins and there are many information in the old threads will help you to gain the knowledge about investment/collecting pandas. Post-2012 Silver panda and gold pandas are considered as bullion, due to their high mintages.

Apparently somebody gives you a negative karma.  Here is +1 for you.

[KeyDate1/2ozPandas]

The the dealer bid currently is $128 and ask is $138 for 2016 1/10oz.  Ebay is probably the best place to sell the coin.  IMHO the coin has almost no potential for numismatic premium increase in the next 5 years, maybe in 10-20 years the spread may increase.  So if your plan is to reinvest the proceeds into more bullion just put it out on ebay for $5-$10 higher than market price and wait patiently for someone to buy it when they are giving away 10% ebay bucks.

Unfortunately gold pandas issued after 2012 are essentially bullion due to super high mintages and my advice to anyone holding coins past 2011 is to SELL unless they are holding them for bullion position.  Even if you are holding for bullion position, there so many better options out there from the 2000s and 1980s that have much more potential than the new coins. 

If you are going to be a bullion collector, you should focus on low premium gold that is highly liquid, best option is 0.9999 gold buffalos, they are bid at $12 over melt and sold at $28 over melt, with small spread of $16 they are the best spread out there.  The other option is GLD etf, which has almost no spread but 0.4% annual maintenance slippage.

My strategy is the opposite of yours, I don't believe gold will rise in the future, but highly numismatic coins will do well.  The future of investments will be digital currencies, electronic markets (stocks, futures), income producing assets and rare collectibles (numismatic coins).  Everything that could have taken gold to $3000 and higher has happened, yet gold is struggling to hold $1200, I made a decision this spring to liquidate my entire bullion related inventory and invest the proceeds into high premium numismatic coins, simply because the opportunity to buy numismatic coins in the last three months has been at multi year highs, but now it has finally dried up.

Stick around you may learn something new and change your investment strategy.

[Human]

Thanks for everyone's response, the karma, and especially your great detail keydate.
To be totally honest I don't consider myself an investor when it comes to gold, I just love gold, it's one of my flaws considering the methods the human race uses and energy that goes into harvesting it.

However,
Just a few things about myself and gold in general, regardless of its origin.
I just like how it looks and feels, most importantly I look at it as more of a monetary placeholder rather than something that will grow exponentially. Kind of like a rock, you know it will be a rock tomorrow and the next day. However  If it fell to 600 USD an OZ out of the blue then sure the jokes on me, but I would just increase my purchasing of it.

I'm not against the concept of the collection of numismatic rare coins and currency. A long time ago I collected certain kinds of paper currency  and silver bullion, but I just grew tired of it.

Nothing is nicer to me than a nice poured gold bullion bar, button, or coin. I do see some older pandas pop up in eBay and apmex from time to time, with low mintages, for a relatively decent price. However I am a perfectionist, and it's just not relaxing to me to hunt for perfect coins, in fact it actually tears at me.

For example I have been collecting sebenza knives before, I'm not sure if you're familiar but they can come with different inlays, steels, " birth " dates and so on, and I am so picky it's just not relaxing anymore.

What relaxes me about gold is I don't care if there's a tiny chip in it ( well part of me does ) but it doesn't impact its metal weight, I don't have to worry over cosmetics, storage, or marks and scuffs. Another flaw of mine.

I realize I could just purchase ms 70 pandas, or have them graded etc, but I've even heard of coins developing spotting after grading and sealing, I contacted PCGS way back when I was interested in the numismatic side of things, and they did say they could not assure me of anything due to spotting. I don't remember the specifics, but it was enough to drive me crazy, I could foresee myself now just looking over my collection with a jewelry magnifier and getting annoyed over every little scuff, mark, or blemish I would believe could impact resell value.

Gold is gold to me, it can be scuffed up or have an imperfection and as long as the weight is right I'm good.

I wish I got into pandas sooner, I literally started the year they switched ( so my first coin has no identification of purity or weight on it ) and I just continued ever since. I realize they are poor investments which is why I only buy one for a " collection " ungraded, just sealed in mint packaging.

I guess your suggestion makes the most sense, plop on eBay for a reasonable price.

Edit: the only point really to my question was would it go up in value on the secondary market anytime soon, you answered that. I believe apmex values my 2015 at around 200 - 230 ? However I never looked at any actual sales of the 2015 1/10. I thought I didn't have the 2016, but it was the 2017 I actually didn't have. I just enjoy the designs of them.