50 Yuan Panda, Bimetallic

The bimetallic Panda issues of the mid-1990s emerged from the China Mint's ambition to push technical boundaries after mastering the single-metal proof Panda series launched in 1982. Joining gold and silver in a single struck piece required precision fitting tolerances that the China Mint developed largely through its own engineering, with early bimetallic runs showing occasional center-insert failures that were culled before distribution.

The dual KM references reflect a cataloging dispute over whether the gold-in-silver format constitutes a variant of the standard Panda bullion program or a separate commemorative class — a distinction that still isn't fully resolved across major references.