Peter Anthony: The 1987 5 oz. gold 500 Yuan Panda is the first gold Panda coin of this size. It was quite popular when originally issued and had a relatively high reported mintage of 3,000. Unfortunately for collectors of this denomination there were none minted between 1989 and 1992. This gap has lessened the coin’s appeal. The lack of demand has caused these coins to often trade hands at prices close to their bullion value. It has also contributed to the melting of many coins. As a result it is a near certainty that there are far fewer than 3,000 extant coins. Of those that have been graded a plurality is PF-69.
The 1987 5 oz. gold Panda is part of the NGC “Gold 5 Ounce Panda, 1987-Date, Proof” Registry set. In keeping with this coin’s limited collector base there are no sets currently registered, something a far-sighted person may regard as an opportunity.