Limited Edition, Sold Out! Second-hand Platform Sees 75% Premium!
“Let's take a look at our limited edition Dragon Year gold bar. It's a one-time offer,” said a bank retail customer manager when asked about precious metal products. After visiting several banks, the reporter found that as the Chinese New Year approaches, bank-bought concept gold products have been in high demand.
In addition to gold, recent commemorative coins and banknotes issued by the central bank are also hot commodities. Not only did they create a sense of urgency on the day of release, but they also saw a 75% premium on second-hand trading platforms. Meanwhile, the number of people applying for Dragon Year Moutai (6019) has reached over 850 million.
Industry insiders say that every year, the Chinese New Year is a peak season for concept products. As for the secondary market trading of commemorative coins and banknotes, consumers should approach with caution and analyze the potential for future appreciation before making a purchase, avoiding blind buying and being aware of the risks of fraud.
“Dragon” Gold Attracts Frenzy, Prices Soar
“Many customers have been consulting about new year precious metal products since the New Year,” said a bank employee in Beijing. In recent years, precious metal products have become increasingly popular due to their high value retention and unique designs.
As Chinese New Year approaches, major banks have rolled out Dragon Year precious metal products. The reporter checked the mobile apps of four major state-owned banks and found that they all featured promotions for Dragon Year birthstone gold bars. For example, Bank of Communications launched a limited edition “Dragon Year Birthstone Gold Bar” with a unique design.
At the same time, many bank employees said that as mobile banking functions continue to improve and banks aim to reduce sales channels and control transaction risks, offline physical stores have largely stopped selling precious metal products. Customers can browse and order products through their mobile banking apps and receive delivery.
“The Dragon Year birthstone gold bars with dragon carvings are very popular,” said a jewelry store owner in Shenzhen. Even as the gold price continues to rise, the demand for physical gold has not decreased. The prices of our gold bars and domestic spot gold prices match those of major brand gold.
At a recent quarterly investment strategy meeting held by Xinjiang Bank, Hua Wei-fu, the group's investment director, said, “Given that inflation is slowing down and the US Federal Reserve has paused its monetary tightening policy, we believe that gold is now at its best balance point. We recommend increasing gold holdings.”
Dragon Year Commemorative Coins and Moutai Also Booming
“I tried several times, but it was very frustrating. Finally, I managed to get a successful reservation for 20 coins and banknotes,” said Mrs. Li from Shanxi, recalling her experience of reserving Dragon Year commemorative coins through the Bank of Communications app.
Most people are not as lucky as Mrs. Li. On January 3rd, many users were unable to make a reservation due to system errors, sparking heated discussions on social media. According to reports, this year's commemorative coin is worth 10 yuan and has an issuance volume of 1.2 billion coins, while the commemorative banknote is worth 20 yuan and has an issuance volume of 1 billion.
“The reservation period has ended now, and the only way to buy is through second-hand trading platforms,” said a Bank of Communications staff member responsible for the reservation process. The reporter found that on platforms like Jianzhu and Xiaohongshu, a set of 20 commemorative coins is priced around 300 yuan, representing a 50% increase over the original price; while the commemorative banknote has seen an even higher premium, with prices reaching 700 yuan, a 75% increase.
Industry analysts say that since this year's Dragon Year commemorative coin is the first one issued by the central bank since 1999, it has a higher collectible value.
Moutai birthstone wine has also seen strong demand. According to reports, Moutai has set up two reservation channels, with over 500 million people applying through iMoutai's “Enjoy and Share” channel, while approximately 358 million people applied through the “Jade Rabbit Farewell” special event channel, making a total of around 859 million people apply for the product, with only about 20,000 successful reservations.
It's worth noting that regardless of whether it's buying birthstone gold or reserving commemorative coins and banknotes, young people in their teens and twenties are actively participating. Mrs. Li, who bought the commemorative coin as a collector's item, said she will not sell it and only collect it.
Li Panlin, co-director of the Digital Economy and Financial Innovation Research Center at Zhejiang University's International Business School, emphasized that consumers should return to their roots when buying commemorative coins and banknotes, adopting a collecting or memorial mindset. “Commemorative coins and banknotes may have potential for future appreciation, but it's not significant. Currently, the market is characterized by low transaction volume and high prices.” He also warned that the limited edition and real-name reservation nature of these products can effectively curb counterfeit transactions, but consumers should remain vigilant about the risks of fraud when buying from second-hand markets.