China Releases New Metric Panda Coins For 2016

The immensely popular Chinese Panda coin series is getting an overhaul this year as it moves entirely to the metric system. In past years, the Panda coin series has been issued primarily in weights centered around the imperial measurement system of ounces, from the smallest size of 1/20th ounce to the largest of 5 ounces. Larger Panda coins are made as well but these have always been in metric measurements—one kilogram through 5 kilograms.

This year, however, all Panda coins will be issued with metric weights in an effort to make these coins more accessible for retail collectors and investors in China. The one ounce gold and silver Panda coins will instead weigh 30 grams. The gold ½ ounce is replaced by a 15 gram coin, the gold ¼ ounce with an 8 gram coin and the gold 1/10 ounce with a 3 gram coin.

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A new denomination and weight has also been added this year—a tiny 1 gram gold Panda with a denomination of 10 Yuan. This coin, which has a bullion value of approximately $35 (11/20/2015), is intended for more budget-minded investors and collectors. It is the first gold Panda one gram coin issued since the very popular 1991 Gold 3 Yuan and with a mintage of only 600,000 pieces it is likely that this new issue will also be a desirable addition to the Panda coin series.

Source:

• http://www.pbc.gov.cn/tiaofasi/144941/144959/2964361/index.html