Chinese gold coins continue a parabolic ascent.
A week ago, I reported prices on the Basel Au and Pt set, from the Basel coin fair. 1ooo were minted with the mintage split between the AU normal coin and the PT (for platinum) error. At that time the set went for 11,500 on ebay. Double the price from two months earlier. Now, one week later, the Pt sold for $8,500 the same day it was listed by a prominent bullion dealer, and the Au just sold at auction in Germany for $7,500. Meanwhile at the same auction a rare Zurich one ounce coin show medal with a mintage of 550 - three examples of which were up for sale - all sold between $7500 and $9000.'
At the same time, investor/collectors are chasing regular issue pandas from years with small mintages, looking for tiny variations that are believed to have occurred on a small number of coins. The 1999 serif (line under the 1) 1 OZ variety is selling between $4000 and $5000. The same for the 2001 - D variety. While regular issue 1998's and 1995's are selling for similar prices. And the entire unicorn series has all but disappeared from the market. 1 OZ unicorns are regularly selling between $8000- $12,000.
I don't know how long these coins can continue to appreciate without a breather. But one thing is for sure: wealthy people with too much paper money are eagerly searching for precious metal investments.