Peter Anthony:The 1987 “Y” 100 Yuan gold Panda is one of the more common early date Pandas. An 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.
There is a wrinkle to the 1987 gold Pandas; they have mintmarks on them. Several of the official Panda distributors, notably Martin Weiss of Panda America, had strongly urged the China Mint to add mintmarks. The distributors believed that mintmarks would increase sales to collectors who would buy both versions. So in 1987 the China Mint placed an “S” on coins struck in Shanghai and a “Y” on coins from Shenyang. Indeed to this day collectors often buy both versions for their sets. The “S” coins from Shanghai were released months sooner than their “Y” counterparts. Shenyang’s coins did not hit the market until October of 1987. As a result the Shanghai versions achieved wider sales and distribution.
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 1987 “Y” 1 oz. gold 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."