What is Chinese Gold and Why is it More Expensive?
The Chinese culture has a very long history with gold. In Chinese culture, gold represents wealth, power, longevity, and happiness. Gold is often considered to be one of the most valuable and significant gifts one can give. This is why it’s often given at important life events such as birthdays, weddings, childbirth, and the New Year.
China notoriously has a very high standard for gold which can make it a sought-after commodity. Many people get Chinese gold as a gift or purchase it in China or Hong Kong without actually realizing its true value.
Where Chinese Gold Comes From
China is not only one of the largest consumers of gold, but they are also the world’s largest gold producer. The majority of the gold in China comes from one of the Chinese gold-only Northern China craton margins. Gold is also often mined in the eastern provinces of Shandong, Henan, Fujian, and Liaoning. There have also been slight increases in gold production in some of China’s western provinces such as Guizhou and Yunnan. The gold mined from these reserves is often stored in vaults in Beijing.
Why It’s More Expensive than Other Gold
While all gold is the same no matter where it comes from, Chinese gold is often marked at a higher price tag than gold from other countries. This is for two reasons:
- The world’s gold supply is low right now.
- Demand for gold is offset for all types of gold; however, Chinese gold is often 22 karats.
Chinese or Hong Kong gold is often marked with “999”, “9999”, or “999.5” to indicate its purity. Chinese gold may also be marked with Chinese symbols that indicate its purity:
| 足金 | 千足 | 万足 |
|---|---|---|
| 99.0% minimum purity | 99.9% purity | 99.99% purity |
We Buy Chinese Gold
At California Gold and Silver, we can buy and sell high-quality metals at a fair price. You can contact us to schedule an appointment or visit our office in Upland, California. Please feel free to reach out with any questions you may have!
