100 Yuan Panda

China's Panda gold series launched in 1982 as a deliberate play for the international bullion collector market, modeled partly on the South African Krugerrand's commercial success but positioned as an annual collectible rather than a pure bullion instrument. The 1987 issue is notable within the series because it was the last year before the People's Bank of China began adding mintage figures directly to the coin — a change introduced in 1988 that fundamentally altered how collectors valued individual dates.

Struck at the Shenzhen, Shanghai, and Shenyang mints simultaneously, the 1987 one-ounce issue carries no mint mark to distinguish its origin facility.