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Silver coin buying boom in China

04-29-2011 14:09 BJT

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Soaring silver prices are also pushing up the value of silver coins in China. An an increasing number of investors are buying up silver coins.

The price of silver coins is on the rising. Coins decorated with Chinese horoscope signs, and those issued for the New China founding anniversary are among the most popular. This 1-ounce silver coin with the Year of the Rabbit motif was worth around 300 yuan just a few months ago. Now, it's valued at 900 yuan. But even at such a high price, all the rabbit-themed silver coins at this store are on pre-order for enthusiastic investors.

Besides the sales boom in silver coins, investment in antique silver coins made in Minguo period from l912 to l949, is also heating up. A month ago, an antique silver coin could be purchased at any stall in this market, for around 300 yuan. But now, the coins are all sold out - at the price of 1,000 yuan.

One coin dealer in Beijing said "The price of antique silver coins is going up continuously, and is hitting a new record high each day. More people are showing interest in those antiques."

But experts warn, investors should be cautious about pouring money into silver coins, as well as the risk of counterfeit coins on the market.

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Editor:Xiong Qu |Source: CNTV.CN

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