Monday, December 03, 2012

A Panda Coin Primer - Part 1


Interest in Chinese Panda coins is growing rapidly, but there is still a lack of readily available data about these coins.  The Buyer's Guide to Chinese Gold & Silver Panda Coins (2010) by Peter Anthony is an excellent book and a must have for any collector.  However, online resources are still limited, so we have provided some summary information and tables to help newcomers get their heads around the available collecting opportunities.  

A Panda Coin Primer - Part 1

The Panda Coin was born in 1982 with the creation of four gold bullion coins depicting the Chinese national symbol; the Panda Bear (熊猫). The coins were issued is four sizes, 1/10, 1/4, 1/2, and 1 troy ounce of .999 pure gold.  These first pandas had no denomination (no face value in Yuan), so technically they are considered medals rather than coins.  However, in 1983 denominations were added making then coins, but 1982 has generally been "grandfathered-in" by collectors as the first panda "coin".

1982 Gold Panda
Over the next 32 years (to date), many denominations, types, and varieties of panda coins have been issued.  The following tables and notes give an overview of the Panda Coins Issued by China.

I. Precious Metals

Pandas have been produced in several different precious metals.  We will organize the coins by metal group in later sections.

 Metal Purity Years Produced
 Gold 99.9% 1982 - present
 Silver 90%
 99.9%
 99.9%
 1983 - 1985
 1987
 1989 - present
 Platinum 99.9% 1987 - 1990
 1993 - 1997
 2002 - 2005
 Paladium 99.9% 1988 - 1989
 2004 - 2005
 Bi-Metal
 Gold & Silver
 99.9% 1990 - 1997
 Copper 70% 1983 - 1984
 Bronze 1991


II. Gold Pandas

The gold pandas may be considered the flagship of the series.  The 99.9% pure gold coins have been issued every year since 1982 in many different sizes, strikes, mints, and varieties.  

The pandas can be divided in three main groups:  
  • Brilliant Uncirculated (BU) Coins with denomination (face value)
  • Proof Coins with denomination
  • Official Commemorative panda medals with no face value

A. BU Gold Panda Coins

Brilliant Uncirculated coins, known as "BU" or "Mint State (MS), are generally mass produced.  BU Pandas have been made every year and represent what might be considered the standard panda coin.  Except for 1982, they were issued in 5 sizes, comprising 1.9 ounces for a full BU set each year.  The 5-coin annual sets are popular among Chinese collectors.

In 2001, the denominations were changed, but the weights remained (inflation!)

Note that varieties and mint types are not shown on this table.  We will cover that detail later.

Panda BU Coins Issued by Denomination (Yuan)
Weight
(troy ounce)
1/20 1/10 1/4 1/2 1

 1982    1/10 1/4 1/2 1
 1983 510 25 50 100
 1984 510 25 50 100
 1985 5 10 25 50 100
 1986 5 10 25 50 100
 1987 5 10 25 50 100
 1988 5 10 25 50 100
 1989 5 10 25 50 100
 1990 5 10 25 50 100
 1991* 5 10 25 50 100
 1992 5 10 25 50 100
 1993 5 10 25 50 100
 1994 5 10 25 50 100
 1995 5 10 25 50 100
 1996 5 10 25 50 100
 1997 5 10 25 50 100
 1998 5 10 25 50 100
 1999 5 10 25 50 100
 2000 5 10 25 50 100
 2001 20 50 100 200 500
 2002  20 50 100 200 500
 2003  20 50 100 200 500
 2004  20 50 100 200 500
 2005  20 50 100 200 500
 2006  20 50 100 200 500
 2007  20 50 100 200 500
 2008  20 50 100 200 500
 2009  20 50 100 200 500
 2010  20 50 100 200 500
 2011  20 50 100 200 500
 2012  20 50 100 200 500
 2013  20 50 100 200 500

In 1991, a 10th anniversary commemorative 3 Yuan, 1 gram BU coin was added.

How to Collect:
  • The Chinese method is to collect every size coin for a given year - 1.9 oz per year
  • Americans often choose a weight and collect all the years of that size
  • More advanced options include collecting varieties (covered later) or certified high grade coins such as MS69 or MS70.
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B.  Gold Panda Proofs

Proof coins are traditionally produced with a different process then BU coins.  A proof is not a high quality BU coin, rather it is a coin produced by a special method:  Dies and planchets are specially polished, and each coin is struck multiple times to produce a very sharp and often mirror-like coin.  However, today's high quality mass-produced BU coins are often so sharp and shiny that they may look proof-like, so the China mint has helped us identify proofs by providing Certificates (COA) and somtimes a special "P" mark on the coin.

Proof Gold Panda Coins Issued by Denomination (Yuan)
Weight
(troy ounce)
1/20 1/10 1/4 1/2 1 512 1 Kg
(32 oz)

 1986-P 5 10 25 50 1001000 
 1987-P 5 10 25 50 1001000
 1988-P 5 10 25 50 100 5001000
 1989-P 5 10 25 50 100
 1990-P 5 10 25 50 1001000
 1991-P* 5 10 25 50 1001000
 1992-P 5 10 25 50 100500 1000 
 1993-P 5 10 25 505001000 
 1994-P 5 10 25 505001000 
 1995 1001000 
 1996


 100
 1996 15th An.10 25 100 
 1997

  2000
 1998
 1999


  2000 
 2000


  3000
 2001

 10000 
 2002  


 10000 
 2003  


 10000 
 2004  


 10000 
 2005


 2000 10000
 2006


 2000
 10000
 2007**



 2000
 10000
 2008  

 2000 
 10000
 2009


 2000 
 10000
 2010



 2000
 10000 
 2011


 2000
 10000
 2012


 2000
 10000
 2012 30th An.  
 2000
 2013



 2000
 10000

*In 1991, a 10th anniversary commemorative 50 Yuan, 1 ounce "piefort" (double thick) proof and a xxxx Yuan, 5 Kg (160 oz) proof coin were added.
**In 2007 a 25th anniversary 3 yuan, 1/25oz gold set of 25 coins was issued

How to Collect:

  • If you can afford them, the jumbo-size coins are true rarities that are coveted worldwide.
  • 1986 to 1992 sets
  • 1986 to 1994 5, 10, 25, or 50 Yuan
  • 100 Yuan Proofs 1986-92, 95, and 96


Part 2 will cover Gold Panda Medals