Peter Anthony: The 1988 gold 5 Yuan 1/20 oz. Panda Proof is the third five-piece proof set in the Panda series. Sales this year were not quite as robust as in 1987 but the mintage of proof sets remained at 10,000. It was struck at the Shenyang Mint. Each of the 10,000 sets minted contained the five 1/20 through 1 oz. gold Pandas. The proof versions can be distinguished from the B.U. coins by a small P located between the bamboo leaves on the right side of the coin. There is no contrast because the P is frosted just like the background so it is easy to overlook. An updated Temple of Heaven design was introduced in 1988.

Although the proof sets sold well initially over the years a strong secondary market never developed and the price dropped to near the level of the B.U. coins. Some sets were even melted for their gold content. A moderate number of coins have been certified with most of those earning a PF-69 grade.

The 1988 5 Yuan gold Panda is part of the "Gold 1/20 Ounce Panda, 1983-Date, Mint State and Proof." NGC Registry set.