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".

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	5	10	25	50	100
1984	5	10	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	5	12	1 Kg (32 oz)
1986-P	5	10	25	50	100		1000
1987-P	5	10	25	50	100		1000
1988-P	5	10	25	50	100	500	1000
1989-P	5	10	25	50	100
1990-P	5	10	25	50	100		1000
1991-P*	5	10	25	50	100		1000
1992-P	5	10	25	50	100	500	1000
1993-P	5	10	25	50		500	1000
1994-P	5	10	25	50		500	1000
1995					100		1000
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