Peter Anthony: The 1996 25 Yuan 1/4 oz. Large Date gold Panda is a Shenyang Mint product. 1996 was a very active year in Chinese numismatics that was greatly influenced by the impending transfer of Hong Kong from British to Chinese rule. There was much speculation and hoarding that took place during this time period. Later, after the speculative fever broke, many coins were melted. The 1996 25 Yuan coins have a modest announced mintage of 17,589, yet only a fraction of these have survived.

There are two major varieties of the 1996 gold Pandas: Large Date and Small Date. The two versions are not hard to tell apart; the numerals of the Large Date are clearly bigger than those of the Small Date. The Shenyang-minted 25 Yuan Large Dates are seen less often than the Shanghai-struck 25 Yuan Small Dates .

If they survived most of the 1996 25 Yuan Large Dates grade well. In fact more than four out of five of those graded are MS-69 or MS-70. Red spots are quite common among unconserved 1996 gold Pandas. It’s unusual to find an original coin that doesn’t have them. The head, body and the tree trunk are the places most likely to show wear or rub.

The 1996 25 Yuan Large Date gold Panda is part of three NGC Registry sets: "Gold 1/4 Ounce Panda, 1983-Date, Mint State," "Gold 1/4 Ounce Panda, 1983-Date, Mint State (Incl. Varieties)" and "Gold 1/4 Ounce Panda, 1983-Date, Mint State and Proof."