Peter Anthony: The 2004 gold 100 Yuan 1/4 oz. Panda is the first fractional gold Panda to feature more than one animal. It was released at a time when gold itself was just coming out of a deep-freeze and sales of new coins were tepid. The fate of many of these coins is unknown but there is no question that they hare a challenge to find today. Rub, if any, usually appears on the heads of both bears. The large open field to the right side of the Pandas also picks up marks easily. If the coins are not already graded check carefully for marks left by jewelry mounting. A moderate number of coins have been certified with most of those earning a MS-69 grade.

The 2004 100 Yuan 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."