1989 New York Expo silver Panda - double-sealed ($734.25 final auction price)1989 New York Expo silver Panda - NGC PF69 ($549.99 BIN)The New York Expo silver Panda had multiple sales in the last day and a half at record prices. I did not expect it to achieve the prices it did so quickly, especially considering the record-setting auction ended during the super bowl. Someone was on the ball and snapped up the $549.99 BIN on the 69 grade after seeing the $734.25 realized price for the double-sealed 1989 New York Expo silver Panda. What is it about this coin that makes it interesting and what can we expect to see going forward?
1989 was the final year the Chinese Mint designed pandas for the New York International Numismatic Convention and this 1989 example is the only 1 oz. silver Panda in the bunch. It is a very aesthetically pleasing Panda and the horse on the obverse makes it much more interesting than the previous years' designs.
Another interesting observation regarding this silver Panda is that it has a stated mintage of 4000 compared to it's gold counterpart's stated mintage of 5000. Will this silver medal soon catch up or even surpass the gold 1/4 oz. medal? The 1989 New York Expo silver Panda also has half the stated mintage of the 1996 silver proof Panda. It is considered to be a proof strike and is rarer than any of the silver proof Pandas in the 1989-1996 normal proof run.
What does the future hold for this 1989 New York Expo silver Panda? I would say the minimum price target is $1000, which would put it on par with the 1989 New York Expo gold Panda and the 1994-1996 silver proof Pandas. It could easily go to $2000 or more within the next 12-18 months given it's lower mintage and attractive design. I'm putting my money where my mouth is as I just received one in the mail TODAY!!!
