The People's Bank of China was established on December 1, 1948, shortly after the founding of the People's Republic of China. It took over the functions of the Central Bank of China, which had been the country's central banking institution before the communist revolution.
The PBOC is responsible for annual issues of Chinese bullion coins known as the Gold Panda and the Silver Panda. These coins are legal tender in China and are highly sought after by collectors and investors worldwide for their artistic designs and precious metal content.
The Gold Panda is a series of bullion coins minted in various denominations, including 1/20 oz, 1/10 oz, 1/4 oz, 1/2 oz, and 1 oz. In the past, larger denominations such as 5 oz, 12 oz, and 1 kg were also issued. The Gold Panda features a different design each year, showcasing the beloved giant panda in various poses and natural settings. The obverse of the coin usually features the Hall of Prayer for Good Harvests in the Temple of Heaven in Beijing, along with the year of issue and the coin's weight and purity.
The Silver Panda is a popular bullion coin series minted in 1 oz and 30 grams (approximately 0.9645 oz) denominations. Similar to the Gold Panda, the Silver Panda also features a unique design of a panda each year. The obverse of the Silver Panda typically depicts the iconic Temple of Heaven, along with the year of issue and the coin's weight and purity.
Both the Gold Panda and Silver Panda coins are known for their exceptional quality, intricate designs, and limited mintages, making them highly collectible among numismatists and precious metal investors. The weight and purity of these coins are guaranteed by the People's Bank of China, providing reassurance to buyers about their authenticity and value.
The design changes each year for both the Gold Panda and Silver Panda coins, which adds to their appeal as collectors' items. Additionally, the Chinese government often releases special anniversary or commemorative editions of these coins, further enhancing their desirability in the global market.