10 Yuan Panda

The 1990 Panda series was issued during a period when the Chinese gold and silver bullion program, launched in 1982, was still finding its footing in Western collector markets. That year's silver Panda carries a design change that matters to specialists: unlike the fixed reverse used on some world bullion programs, the Panda series rotates its design annually, a deliberate policy by the People's Bank of China intended to drive year-on-year collector demand rather than purely bullion buying.

Struck at the Shanghai and Shenyang mints, 1990 issues can sometimes be distinguished by subtle die characteristics, though official mintmark differentiation on silver Pandas of this period was inconsistent in documentation.