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Friday, July 25, 2008

China Mint Beijing 2008 Olympic Coin Sets

This is a special article not just about the Chinese Mint but also about the special gold and silver coins produced by the mint in celebration of the 2008 Olympics.

As always, ensure you do full due diligence from any gold dealer or mint before you buy gold and silver from them online.

Who are the Chinese Mint

The Chinese Mint was established in 1987 with the approval of the State Council. It is the only professional company under the direct leadership of the People's Bank of China dealing in gold and silver commemorative coins.

There are a number of websites concerned with Chinese currency and the Mint, most of which are understandably in Chinese, but the one that concerns us most is the one that provides information in English about the mint and the gold and silver coins available for collectors, and that is the www.chinagoldcoin.net/english/index.htm. This site contains most of the information about Chinese coins such as the Panda and, currently, the 2008 Olympic Chinese gold and silver coins.

Since the Mints establishment, it has sold over 2 million ounces of gold coins and 15 million ounces of silver coins to the domestic and international market. Over the years, 10 major coin categories with more than 1,400 items have been issued.

Also established is the Shenzhen Guobao Mint, a modern enterprise specialized in the production of gold and silver coins. As China merges into the international economy with the deregulation of its domestic gold market,

The China Great Wall Coins Investments Ltd. ( Hong Kong ) was founded as China Gold Coin Inc.'s sole sponsored subsidiary in May 1988. They are concerned with the distribution of Chinese Modern Commemorative Coins, Chinese ancient gold and silver medallions, circulation bank notes and coins as well as other circulation commemorative coins and foreign commemorative coins.

The Bank of China decided to establish China Gold Coin Inc., the functions of which including the project, design, mintage and distribution of CMGSCC. As the sole body dealing in gold and silver commemorative coins. CGCI is considered an important institution to fulfill the obligation of the issuance of precious metal coins, and for the appreciation of national reserve of precious metals for the Central Bank. Since its establishment, the CGCI has released over 2 million ounces of gold coin and more than 15 million ounces of silver coin.

Located in the heart of Hong Kong the China Great Wall Coins Investments Ltd. ( Hong Kong ) has extensive links with coin distribution institutions and dealers in many countries and areas including Asia, America, Europe and Oceania.

China Great Wall Coins Investments Ltd. ( Hong Kong ) is also affiliated to China Gold Coin Inc. And is the only company distributing Chinese Modern Commemorative Coins outside of China.

What are the Chinese Mint Products

Chinese Panda Gold Coin
The Chinese Panda Gold Coin is perhaps one of the most well known of the major gold and silver coins produced in China by the Mint. These are distributed through Three overseas branch companies in Hong Kong, the U.S. and Germany, as well as established extensive co operations with major coin companies and banks in Asia, America and Europe. Within China, CGCI has subsidiary companies in Beijing, Shanghai and Shenzhen, and over 50 sale agents in big and medium-sized cities of the various countries.

Most of the Chinese gold and silver coins are available from many gold dealers you can find as listed on this site and many others.

Chinese Mint 2008 Olympic Coins
Reminiscent of the Canadian Mints 100-kg (220lbs), The Special Commemorative Beijing 2008 Olympic Games Gold Coin certainly commands attention as one of the most notable coins of the decade.

Weighing in at a massive 22 pounds or 10 kilos and with a diameter of 7.09 inches or 18 centimetres, and made from .9999 fine gold, the 100,000 legal tender Chinese Yuan coin will cost one cool million dollars to own.

A heavy price perhaps sure, but how much is the coin really worth? At the current price of gold ranging from $900 to $980 per ounce at the time of writing and keeping in mind that there are 12 troy ounces per troy pound, that puts the coin’s bullion value at round $250,800 if the gold price was $950 USD per ounce. So this is one expensive coin costing around $3,787 USD per ounce.

But it is certainly a sight to see and the coin is certainly unique, sharply detailed, with only 29 minted worldwide.

In a TwinCities.com article, Douglas Mudd, a curator at the American Numismatic Association Money Museum, stated that it was also the biggest issued Olympic coin to date, and Olympic coins go back to the early fifth century B.C.

The coin’s obverse or heads side depicts the colored emblem of the Beijing 2008 Olympic Games with a design derived from Chinese ancient bronze ware. The reverse shows a group of athletes in front of the Hall of Prayer for Good Harvests.

Other, more obtainable, 2008 Olympic Commemorative gold include:
Beijing 2008 Olympic Series I 6PC Gold & Silver Set
Beijing 2008 Olympic Series I 4PC Silver Proof Set
Beijing 2008 Olympic Series II Silver Proof Kilo
Beijing 2008 Olympic Series II 6PC Gold & Silver Set
Beijing 2008 Olympic Series II 4PC Silver Set
Beijing 2008 Olympic Series III Gold & Silver Set
Beijing 2008 Olympic Series III 4PC Silver Set
Beijing 2008 Olympic Series III 5 Oz Gold Proof
Beijing 2008 Olympic Series III Silver Proof Kilo
There are three series to the coins, Series I, II, and III in which there are a total of 18 coins in the complete Beijing 2008 Olympics Coin Program, six in gold and twelve in silver.

The common obverse design on all coins features the traditional paired "Chinese dragon" image, the emblem of the Games of XXIX Olympiad, the name of the country and the year 2008.

The reverse designs for the gold coins features various athletic sports. The main figures in the designs derive from ancient Chinese traditional sports. Series II features swimming and weightlifting for example.

All the elements are embedded in the design presented in the form of traditional Chinese "Wa Dang" style. The edge of the coin and the edge of the "Wa Dang" design are perfectly overlapped, displaying a vivid combination of images. The reverse designs depict the true Chinese style, which represents the long sports history in Chinese culture, and conveys the unique Chinese culture.

The swimming design for the 1/3 oz. gold coin derives from the Dunhuang mural of "swimming" found in Cave No. 420 in the Dunhuang Grottoes in northwest China's Gansu Province. The figures in the mural are swimming freely and at ease while the image of fish represents and indicates the features of water.

The weightlifting design for the 1/3 oz. gold coin derives from the painting of Ming Dynasty about 600 years ago, depicting an ancient Chinese man lifting a stone weight. The figure in the design has a large body and strong muscles, implying heroic spirit.

The image on the reverse of the silver coins is distinctively different for each series of the collection. The silver coins, partially highlighted in color, express a swift and livelier tone throughout the collection, and all 12 silver coins are 1 ounce of pure silver.

Series II features famous Chinese landmarks located around the host city, Beijing. The four design images include: The Great Wall of China, the Summer Palace, the Tibetan Tower of Beihai Park, and finally an image of a traditional courtyard dwelling in Beijing. These images are all closely associated with China and will undoubtedly be images seen and represented during the Beijing 2008 Olympics. The left side of the coin, about 1/3 of the area, is divided by the "Chinese traditional Ruyi" decoration, with colored designs on Chinese traditional pottery, glaze, lacquer ware, and blue/white porcelain.

The designs for the Precious Metal Commemorative Coins for the 2008 Beijing Olympic Games aims to connote the theme of the Olympic Games; meanwhile, the designs take the form of images derived from Chinese history, folklore, culture and national heritage, reflecting the jubilant feelings of retrospect, joy, enthusiasm and expectation cherished by the Chinese people after the successful bid for the Olympic Games.

The Official Commemorative 5 Ounce Gold Coin for the Games of the XXIX Olympiad.

Considering the size and price, not many collectors will have the opportunity to own one of these coins. The maximum mintage is only 2008 coins and fewer than 100 will be made available to U.S. collectors. The principle design on the obverse side of the coin features an artful blend of Chinese martial arts and the five Olympic rings. This may well be the ultimate collector coin of The 2008 Beijing Olympic Games. This 5-ounce pure gold coin is housed in a spectacular display with a traditional jade lion guarding the gold coin within. The reverse incorporates the official emblem of the 2008 Beijing Olympic Games and the traditional paired twin dragons.

The Official Commemorative 1 Kilo Silver Coin for the Games of the XXIX Olympiad.

The China Mint has now added a new Silver Kilo coin to its prestigious list: The Official Beijing 2008 Olympic 1 Kilo Silver coin. More easily obtainable price wise and if your quick, the Chinese Silver Kilo coins are minted to the highest quality and look absolutely splendid.

The obverse side features two very distinct ancient Chinese sporting images on the coin: At the bottom the coin features ancient Chinese dragon boat racing, with four muscular racers paddling their way to victory aboard the boat. At the top of the coin there is a pack of horses racing against each other. The obverse side of this coin is a striking blend of Chinese culture and competitive sporting, a perfect representation of the upcoming Beijing 2008 Olympics.

The reverse side of the coin features in Chinese script, "Peoples Republic of China". Featured prominently in the center of the coin is the official Beijing 2008 Olympic logo, surrounded by two ancient Chinese dragons intertwining and facing the logo.

The 1 Kilo Silver coin comes protected in a lacquered wooden display box emblazoned with the official Beijing 2008 Olympic logo and packaged in a sturdy red cardboard protector, also featuring the official Olympic logo. Denomination is 300 Yuan and the coin is accompanied with a certificate of authenticity. The year featured on the coin is 2008, and the coin itself is a full 1 kilogram of pure 99.9% silver with an extremely low mintage of 20,008.

Information on the actual Olympic gold medals won by contestents at the Olympic games can be found at Gold Medals at the Olympics.

How to get Chinese Mint Gold and Silver Coins

The China Gold Coin Incorporation (CGCI) is the only professional company under the direct leadership of the People's Bank of China dealing in gold and silver commemorative coins within China.

Marketing of Chinese Gold and Silver Commemorative Coins (CMGSCC)outside of China is mainly done through the usual overseas banks and coin dealers. Mostly they are in short supply so one has to be quick to get any from the dealers.

Obtaining Modern Gold and Silver Commemorative Coins (CMGSCC) abroad is mainly done through acting overseas banks and coin dealers.

Last word on the Chinese Mint
The Chinese 2008 Olympic gold and silver coins are very impressive and outstanding in quality. They are really for collectors and, although the word ‘investment’ is used liberally on the website these are not really an investment coin. Once an event such as this is finished the desire for such coins diminishes (look at the price ranges for past Olympic event coins) and, although they hold the value of their precious metal content, the premium paid for such coins at the height of desire is not often recaptured, unless such factors as rarity, specific individual desire are present.

For investment one would be better looking at gold bullion in the form of bars or even buying gold and silver from such places as goldmoney.com for example, for investment purposes. Having said that, the coins are beautiful and very well presented.

If you have bought any Chinese gold or silver bullion coins from any dealers please feel free to leave your feedback on the quality of service and products including any online complaints and special attention or service given by any dealers of Chinese gold and silver coins.

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