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Chinese Panda silver coins
Number of products: 1Since the 2016 issue the Chinese Silver Panda weighs 30 grams, not one troy ounce. That is 1.1035 g less silver per coin — 3.55% — at the same 40 mm diameter.
It is 999 fine with a face value of 10 yuan, issued by the People's Bank of China and struck by three state mints. The panda design changes every year. Check the live silver price before you order.
Thirty grams, not an ounce — and why it matters
In 2016 China moved its bullion coins from the troy ounce to the metric system. The Silver Panda went from 31.1035 g to a round 30 g. The diameter stayed at 40 mm, so the coin looks the same and sits in the same capsule; it is simply thinner.
The consequence is arithmetic. A 30 g coin holds 0.9645 troy ounces of silver. If you compare a Panda with a Britannia or a Maple Leaf on price per coin, you are overpaying by about 3.7% without noticing, because you are getting 3.55% less metal. Compare per gram, or per ounce, never per coin. A full mint box is 13.5 kg of silver where a pre-2016 box of 600 one-ounce coins held 18.66 kg.
Specification
| Parameter | Up to 2015 | 2016 onwards |
|---|---|---|
| Weight | 31.1035 g — one troy ounce | 30 g |
| In troy ounces | 1.0000 | 0.9645 |
| Fineness | 999 | 999 |
| Diameter | 40 mm | 40 mm |
| Face value | 10 yuan | 10 yuan |
| Sheet | 30 coins | 15 coins |
| Mint box | 600 coins | 450 coins |
| VAT | Standard rate | Standard rate |
The People's Bank of China does not publish a thickness figure, so we do not quote one. Earlier issues used other alloys: .900 from 1983 to 1985 and .925 in 1987, before 999 became standard in 1989.
A new panda every year — with one exception
The Panda reverse changes annually: a different panda, a different pose, a different setting each year since 1983. The single exception is 2001 and 2002, which share the same design — the only repeat in the series. That annual change is the reason Pandas attract collector interest that fixed-design bullion coins such as the Krugerrand or the Maple Leaf do not.
The obverse does not change: the Hall of Prayer for Good Harvests at the Temple of Heaven in Beijing, with the country name and the year. It has been there since 1983.
Mintage limits are published — and they move
The People's Bank of China states a maximum mintage in its annual announcement, which most mints do not do. The figure is not stable: 8 million for 2016, 10 million for 2025, 5 million for 2026. A halving from one year to the next is a real difference between vintages, so check the year rather than assuming a standard figure.
Three mints, no mintmarks
Pandas are struck at Shenyang, Shanghai and Shenzhen Guobao. The coins carry no mintmark, so you cannot tell which mint produced a given coin. China Gold Coin Group is the distributor, not the manufacturer — a distinction worth keeping straight when reading listings.
What to check before you order
Coins come in factory capsules, in sheets of 15. The Panda has no published anti-counterfeit technology — no micro-engraving, no laser mark, no verification database. Some dealers refer to security features, but we could not find any official statement from the issuer, so we do not claim it. The practical checks are dimensional: 40 mm across, 30 g on the scale for 2016 and later, reeded edge.
Because the panda changes annually, the year on the coin also identifies the design. A mixed-year lot means mixed designs, unlike a mixed-year lot of Britannias or Kangaroos.
Tax position
VAT: silver is not investment gold. The exemption in Article 344 of Directive 2006/112/EC covers gold only, so silver coins are sold at the standard rate — 23% in Poland, 20% in the UK.
Capital gains tax in the UK: not exempt. The exemption applies to sterling currency under HMRC's Capital Gains Manual at CG76881, and the Panda is denominated in yuan. Only Royal Mint coins such as the Britannia and the Sovereign qualify. General information, not tax advice.
Questions buyers ask
Is the Silver Panda one ounce?
Not since 2016. It weighs 30 g, which is 0.9645 troy ounces — 3.55% less silver than a one-ounce coin. Coins dated 2015 and earlier are one ounce.
Why does it look the same size then?
The diameter stayed at 40 mm. Only the thickness changed, which is why the difference is easy to miss.
Does the design really change every year?
Yes, with one exception: 2001 and 2002 share a design. The Temple of Heaven obverse has not changed since 1983.
How many coins in a box?
450 since 2016, in sheets of 15. Before 2016 it was 600 coins in sheets of 30.
Will you buy a Silver Panda back?
Yes, against the current market price. See the buyback page for how the valuation works.
Other silver coin series
Krugerrand · Britannia · Maple Leaf · Vienna Philharmonic · Australian Kangaroo · American Eagle · Somali Elephant
All series are listed on the silver coins page. For bar formats see silver bars, and for the gold version see Chinese Panda gold coins.
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