Peter Anthony:The 2004 100 Yuan 1/2 oz. palladium Panda was the first of its kind in fifteen years. The only other palladium Panda minted up until that time was the 1989 50 Yuan 1 oz. coin. The 2004 coins share the standard design of that year’s gold and silver Pandas, a mother bear with a cub. Unlike the earlier Pandas these later ones have always sold for more than their intrinsic value and haven’t been heavily melted. With a mintage of 8,000, compared to 3,000 coins for the 1989, this is a much easier coin to find. The average coin is also in outstanding condition; most have graded Proof-69 with a substantial number of Proof-70 examples.