People's Bank of China

People's Bank of China

The People's Bank of China is the issuing authority for the nation’s legal tender bullion and commemorative coinage. It oversees the China Banknote Printing and Minting Corporation and approves designs, specifications, and mintages for coins struck by facilities in Shenzhen, Shanghai, and Shenyang. For bullion buyers and collectors in the U.S., the most recognizable issues under this authority are the Chinese Gold Panda and Silver Panda coins, which are widely traded and collected worldwide.

The Chinese Panda series features annually changing panda designs on the reverse and the Hall of Prayer for Abundant Harvests in the Temple of Heaven on the obverse. Since 2016, Panda bullion coins use metric weights instead of troy ounces, a detail that matters when comparing premiums and melt values. Standard bullion issues include the 30 g Silver Panda in .999 fine silver and a range of Gold Pandas in .999 fine gold at 1 g, 3 g, 8 g, 15 g, and 30 g. Proof strikes, fractional gold denominations, and occasional special privy marks, such as anniversary issues, enhance collectibility. The People’s Bank of China has also authorized platinum and palladium Panda coins in select years, which appeal to diversified precious metals investors.

Coins typically ship in protective capsules from the mint. Panda coins do not carry explicit mint marks, and more than one facility may strike the same year’s issue, which can lead to small, recognized die or finish variations that interest numismatists. Mintage levels vary by year and product, and the market often assigns premiums that reflect design changes, prior-year availability, and collector demand. Investors commonly compare dealer pricing and premiums across multiple sources to find competitive offers, particularly on the current-year 30 g Silver Panda and 30 g Gold Panda.

Beyond bullion, the People's Bank of China regularly authorizes themed commemorative programs in gold and silver that highlight cultural heritage, historic events, and international sports. These coins are legal tender of the People’s Republic of China and are commonly graded by third-party services. While some U.S. custodians allow eligible gold and silver Pandas in self-directed retirement accounts, acceptance varies by custodian and program rules.

People's Bank of China Highlights

• Issuer of the Chinese Gold Panda and Silver Panda legal tender bullion coins.
• Annual reverse design changes with the Temple of Heaven obverse standard across issues.
• Metric weight system since 2016: 30 g Silver Panda and 1 g to 30 g Gold Pandas.
• .999 fine silver and .999 fine gold for standard bullion releases.
• Authorized proof editions, fractional gold denominations, and select anniversary privy marks.
• Historic platinum and palladium Panda issues in limited years.
• Multiple state mints strike Panda coins, typically without visible mint marks.
• Protective capsule packaging from the mint to reduce handling wear.
• Premiums vary by year, mintage, and market demand; buyers often compare pricing across dealers.

People's Bank of China FAQ

• What bullion coins does the People’s Bank of China issue?

  The People’s Bank of China authorizes the Chinese Panda series in gold and silver as legal tender bullion. It has also approved platinum and palladium Panda coins in select years, as well as numerous commemorative programs in precious metals.

• Are Chinese Panda coins legal tender?

  Yes. Panda coins are legal tender of the People’s Republic of China with face values denominated in yuan. The 30 g Silver Panda carries a 10 yuan face value, while the 30 g Gold Panda carries a 500 yuan face value. Other fractional gold denominations have proportionate face values.

• Why are Panda coins measured in grams instead of troy ounces?

  Since 2016, the series uses the metric system to align with domestic standards. When comparing prices, investors often convert grams to troy ounces to evaluate melt value and premium.

• Do Panda coins have mint marks?

  Most Panda bullion coins do not feature visible mint marks. Multiple facilities may strike the same issue, and specialists sometimes study subtle die characteristics or finish differences between mints.

• What are the standard fineness and specifications?

  Silver Panda bullion coins are .999 fine silver at 30 g. Gold Panda bullion coins are .999 fine gold in 1 g, 3 g, 8 g, 15 g, and 30 g sizes. Proofs and commemoratives follow specifications published for each release.

• Are Chinese Panda coins eligible for U.S. IRAs?

  Many custodians consider gold and silver Panda coins eligible under IRS rules for certain precious metals IRAs, subject to fineness and custody requirements. Investors should confirm eligibility with their IRA custodian before purchasing.

• How can I authenticate Chinese Panda coins?

  Check weight, diameter, and thickness against official specs, examine design detail and edge quality, and consider third-party grading. Buying from reputable sellers and keeping coins in original capsules helps maintain integrity and resale value.

• What affects the premium on Panda coins?

  Premiums reflect spot price, mintage, collector demand, condition, grading, and distribution. Current-year bullion often carries lower premiums than low-mintage or earlier dates. Comparing dealer prices can help identify more competitive offers.

• Does the People’s Bank of China issue bars?

  The People’s Bank of China focuses on coins. Precious metal bars associated with Chinese brands are produced by various refiners and are not the same as legal tender coin issues authorized by the central bank.