Heroes of Silver: Chinese Panda

[silversword]

Part five in the series takes a trip to the mystic east (no, not Norwich...), as we examine the Panda, minted by the People's Bank of China for over 30 years. It's a favourite amongst numismatists and is definitely in the realm of premium coins. Technically it's a bullion coin yes, but it is also so much more.

 

2013 coin, with the 600-year-old Temple of Heaven obverse, and Panda-themed reverse. Denominated 10 Yuan.
The Chinese script "中华人民共和国 " on the obverse simply reads "People's Republic of China"

 

 

Just what makes a coin collectible? A long history? A unique or interesting design, maybe one that changes? Limited availability? A few variations and specials thrown in for good measure? Well the Panda can tick all of these boxes, as is evident from even a brief look at it's heritage.

 

Following the gold Panda in 1982, The first 3 issues of the silver Panda from 1983 onwards were proof only, limited to 10,000 coins per year, and were struck in coin grade (.900) silver. These early issues set the precedent of using a different design on the reverse for each year, although they have a distinctly less detailed finish than later issues, and weigh in at a mere 27 grams. In 1986 the mint took a break from producing the (almost) 1oz coins, presumably to tool up for 1987's issue, this time in sterling (.925) silver, albeit still containing slightly less than a full troy ounce of precious metal. It's reported that 31,000 coins were minted that year, more Pandas than had previously existed! Time for another break then, lads? 

 

Another year off, and more changes for the 1989 issue: Following the introduction of the Mexican Libertad and American Eagle, 1oz pure .999 was fast becoming the standard for silver coins, and the new Panda followed suit, growing to 40mm in diameter, a size it has retained to this day. This also marked the introduction of the first non-proof coins, with a mintage of 250,000 bullion/un-circulated to accompany 25,000 proofs.

 

Although it is not always easy to find out mintages for subsequent years, (especially for proofs), from 1989 onwards Panda production has continued without interruption. Numbers increased, even though overall production remained limited. Nearly 20 years after it's introduction, Panda bullion mintage reached 500,000 units for the first time in 2001 as production rose dramatically to meet overseas demand. Numbers remained similar for 2002 and whether coincidence or not, these are the only years which share the same design on the reverse. 

 

Increased mintages went hand-in-hand with better quality finishing as production finally crept into the millions from 2010, no doubt related to China encouraging it's own citizens to buy more precious metals for investment. Recent issues (2012-onwards) have been capped at 8 million coins, allowing enough to meet demand but still retaining a degree of scarcity. 

 

Numbers notwithstanding, there are still plenty of ways to get hold of a Panda: As well as the common 1oz/10 Yuan coins, there have been fractional 1/2oz and 1/4 oz versions, 5oz, 12oz  and 1kg coins as well. Commemorative Privy marks abound, in addition to "D" Privy marks for domestic market coins, plus gilded and colourised coins for those who like them. Not enough staggering variety? Well there are also occasional minting variations due to coins being produced at several locations with differing dies. The most well-known examples of this are the "small date"/"large date"  and 1995 "small twig"/"large twig" variations. Whilst the obverse has always featured the revered Temple of Heaven, this too has seen subtle changes; the original 1983 design was updated in 1992, then again in 2000 and 2001.

 

Not surprisingly given the highly collectible nature of the coin, and the rich premiums it commands, the Panda is a coin that is often faked. With so many different coins - and even genuine coins not always being strictly identical - spotting a counterfeit can be difficult for the untrained eye. It's fair to say a Panda will enhance any collection, but it's equally fair to say that unless you are a specialist in these coins, only buy from a reputable dealer.

 

 

 

[Agpanda]

For those wanting to learn more, Peter Anthonys book is "the bible" for pandacollectors.

http://www.pandacollector.com/buyersguide2ed.html

[LongJohnSilver]

For those wanting to learn more, Peter Anthonys book is "the bible" for pandacollectors.

http://www.pandacollector.com/buyersguide2ed.html

New versions of the book are pricey but well worth it. The illustrations are fantastic and for a large book it can only be described as a thing of beauty . Easy to read and very informative . Even if you can only get hold if second hand I guarantee you'll be a panda fan for life afterwards .

It would probably be my desert island read if it wasn't for the fact that I've read it so often I hardly need it .

Sent from my iPhone using Tapatalk

[Agpanda]

just ordered mine today, cant wait to have it delivered!

[StackemHigh]

Why not put this book into the book recommendation thread in the non pm section. I can't get the link to move.

[ChrisSilver]

For those wanting to learn more, Peter Anthonys book is "the bible" for pandacollectors.

http://www.pandacollector.com/buyersguide2ed.html

This looks like a good book. Might have to get one of these at some point and then start crossing off the ones I start to slowly collect.

[morezone]

Just ordered the book. Roll on Panda mania.

[HelpingHands]

Does the book tell you how to stack up more than seven pandas without them falling over? (pandemonium)

[ChrisSilver]

Should have done a group buy for a couple to save on shipping.

Do they update the book every year?

[silversword]

Does the book tell you how to stack up more than seven pandas without them falling over? (pandemonium)

Take them out of their supplied capsules and put them in lighthouses. They look nice with the black airtite ring