Peter Anthony: The 1996 100 Yuan 1 oz. Small Date gold Panda is a Shanghai Mint product. 1996 was a very active year in Chinese numismatics that was greatly influenced by the impending transfer of Hong Kong from British to Chinese rule. There was much speculation and hoarding that took place during this time period. Later, after the speculative fever broke, many coins were melted. The 1996 100 Yuan coins have a modest announced mintage of 22,009, yet only a fraction of these have survived.

There are two major varieties of the 1996 gold Pandas: Small Date and Large Date. The two versions are not hard to tell apart; the numerals of the Small Date are clearly smaller than those of the Large Date. The Shanghai-struck 100 Yuan Small Dates are seen more often than the Shenyang-minted 100 Yuan Large Dates.

Around three out of five of the 1996 100 Yuan Small Dates that survived grade MS-69 or MS-70. Red spots are quite common among unconserved 1996 gold Pandas. It’s unusual to find an original coin that doesn’t have them. The head, body and the tree trunk are the places most likely to show wear or rub.

The 1996 100 Yuan Small Date gold Panda is part of three NGC Registry sets: "Gold 1 Ounce Panda, 1983-Date, Mint State," "Gold 1 Ounce Panda, 1983-Date, Mint State (Incl. Varieties)" and "Gold 1 Ounce Panda, 1983-Date, Mint State and Proof."