The 1987 100 Yuan gold Panda is one of the more common early date Pandas. The 1987’s stand out for having mintmarks: S for Shanghai and Y for Shenyang. Another outstanding feature of the coins is the design by master artist Chen Jian, who also was the artist for the original 1982 Pandas. Noteworthy is the illusion of water created by using only a few simple lines. The same design appears on the other 1987 B.U. Pandas and the 100 Yuan Proof Platinum Panda. While neither is really scarce the Shanghai – S coins are more common than the Shenyang Y. The number of coins that survive in B.U. condition is only a fraction of the original mintage. The China Mint doesn't provide separate mintages for Shanghai and Shenyang so the 156,178 figure is for both.
The 1987S 1 oz. gold Panda Panda is part of three NGC Registry sets: Gold 1 Ounce Panda, 1982-Date, Mint State," "Gold 1 Ounce Panda, 1982-Date, Mint State (Incl. Varieties)," and "Gold 1 Ounce Panda, 1982-Date, Mint State and Proof."