1994 China Bi-Metallic Panda 10 Yuan NGC PF70 Ultra Cameo
£1,995.00
The 1994 China Bi-Metallic Panda 10 Yuan is an unusual Proof issue combining 1/10oz of .999 fine gold with 1/28oz of silver within a single bimetallic Panda coin.
With a published original mintage of just 2,500 coins, this is already a relatively limited issue. This particular example is considerably scarcer at its certified grade, having been independently graded NGC PF70 Ultra Cameo – the highest numerical Proof grade – with an NGC PF70 Ultra Cameo population of just 8 and none graded higher at the time of checking.
1 in stock
Description
1994 China Bi-Metallic Panda 10 Yuan NGC PF70 Ultra Cameo
The 1994 China Bi-Metallic Panda 10 Yuan represents one of the more unusual formats within China’s internationally recognised Panda coin programme.
Rather than being struck entirely from a single precious metal, the coin combines gold and silver in a bimetallic construction, creating a visually distinctive issue that differs considerably from conventional Gold and Silver Pandas.
NGC identifies the exact issue as:
1994 Bi-Met China Panda Au 1/10oz – Ag 1/28oz 10Y
The coin combines:
1/10 Troy Ounce of Gold
with:
1/28 Troy Ounce of Silver
and carries a denomination of:
10 Yuan. NGC categorises the issue within its specialist Bi-Metallic Panda series.
PCGS records an original mintage of:
2,500 coins
for the 1994 10 Yuan Bi-Metallic Panda, catalogued as PAN-229A.
This particular example has been independently authenticated and certified by Numismatic Guaranty Company (NGC) as:
PF70 ULTRA CAMEO
At the time of checking on 30 August 2026, the NGC certification evidence records:
NGC PF70 Ultra Cameo Population: 8
Higher Grades: 0
NGC Top Pop
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Why This Coin Stands Out
- 1994 Chinese Bi-Metallic Panda
- Published original mintage: 2,500
- Combines gold and silver in a single coin
- 1/10 troy ounce of gold
- 1/28 troy ounce of silver
- .999 fine gold centre
- 10 Yuan denomination
- Distinctive Giant Panda design
- Temple of Heaven design
- Certified NGC PF70 Ultra Cameo
- Highest numerical Proof grade
- NGC PF70 Ultra Cameo population of just 8
- 0 graded higher
- NGC Top Pop
- Approximately 4.22g total weight
- Approximately 23mm diameter
- Part of China’s specialist Bi-Metallic Panda series
The combination of a 2,500-coin published mintage, unusual precious-metal construction and an NGC PF70 Ultra Cameo population of just 8 gives this particular example several distinct areas of numismatic interest.
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Specifications
Year: 1994
Country of Issue: People’s Republic of China
Denomination: 10 Yuan
Series: Chinese Panda
Type: Bi-Metallic Panda
Quality: Proof
Composition: Gold and Silver Bimetallic
Gold Content: 1/10 Troy Ounce
Silver Content: 1/28 Troy Ounce
Gold Fineness: .999
Construction: .999 Gold Centre / Silver Outer Ring
Total Weight: Approximately 4.22g
Diameter: Approximately 23mm
Edge: Reeded
Reverse: Giant Panda
Obverse: Temple of Heaven
Published Mintage: 2,500
Grading Company: NGC
Grade: PF70 Ultra Cameo
NGC PF70 Ultra Cameo Population: 8
Higher Grades: 0
NGC Status: Top Pop
Population Checked: 30 August 2026
PCGS records a 2,500 mintage for the exact 1994 bimetallic 10 Yuan issue, while NGC identifies its precious-metal content as 1/10oz gold and 1/28oz silver. Numismatic specification data records a total weight of approximately 4.22g and diameter of approximately 23mm.
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Published Mintage of Just 2,500 Coins
The 1994 China Bi-Metallic Panda 10 Yuan has a published original mintage of:
2,500 coins
PCGS records the exact issue as:
1994 – Bimetallic PAN-229A – 5/37 oz
with a:
Mintage of 2,500.
This original issue figure should be distinguished from the certified NGC population.
For this coin:
Published Original Mintage: 2,500
NGC PF70 Ultra Cameo Population: 8
The first figure relates to the original issue.
The second records the number of examples currently displayed by NGC at the PF70 Ultra Cameo grade.
Only a very small number of examples have therefore achieved this particular NGC certification grade.
NGC population figures can change as further coins are submitted and certified, which is why the population figure on this page is accompanied by the date it was checked.
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A Gold and Silver Bi-Metallic Panda
One of the defining characteristics of this coin is its construction.
Unlike conventional Gold Pandas or Silver Pandas, the 1994 10 Yuan issue incorporates two precious metals into one coin.
The coin uses a:
.999 fine gold centre
surrounded by a:
silver outer ring.
Its precious-metal content is identified by NGC as:
Gold: 1/10 Troy Ounce
Silver: 1/28 Troy Ounce.
This unusual construction creates a natural visual contrast between the two sections of the coin and immediately distinguishes the issue from conventional single-metal Panda coins.
The total coin weight is approximately:
4.22g
with a diameter of approximately:
23mm.
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The 1994 Panda Design
The Giant Panda is one of the most recognisable subjects in modern Chinese precious-metal coinage.
The 1994 bimetallic 10 Yuan issue places the Panda within the central gold portion of the coin, surrounded by the contrasting silver outer ring.
The design depicts a seated Giant Panda holding bamboo, accompanied by the coin’s precious-metal specifications and denomination.
The bimetallic construction becomes an integral part of the overall appearance rather than simply a technical feature.
The result is immediately distinguishable from the conventional single-metal Panda issues produced during the same period.
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Temple of Heaven Obverse
The opposite side features the Hall of Prayer for Good Harvests at the Temple of Heaven in Beijing.
This architectural image became one of the defining visual elements associated with China’s Panda precious-metal coinage.
The Temple of Heaven occupies the gold centre of the bimetallic composition, while the surrounding silver ring carries the national inscription.
The year:
1994
appears beneath the Temple of Heaven.
The combination of the Temple of Heaven and Giant Panda creates the familiar national imagery associated with the wider Chinese Panda series while the gold-and-silver construction distinguishes this particular issue.
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Part of the Chinese Bi-Metallic Panda Series
The 1994 coin belongs to a specialist group of Bi-Metallic Panda Proofs produced during the 1990s.
These coins combined different quantities of gold and silver in a single issue and were produced in several denominations.
PCGS maintains a dedicated Bi-Metallic Panda Proof category and identifies this particular 1994 10 Yuan coin separately within that series.
NGC likewise maintains a dedicated Bi-Metallic Panda Coins category containing the 1994 10 Yuan issue.
The format is considerably less familiar than China’s conventional single-metal Gold Panda and Silver Panda programmes.
For specialist Panda collectors, this gives the bimetallic issues a distinct place within modern Chinese numismatics.
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NGC PF70 Ultra Cameo
This particular example has been independently authenticated, encapsulated and graded by NGC as:
PF70 ULTRA CAMEO
PF70 represents the highest numerical Proof grade on NGC’s 70-point grading scale.
A grade of 70 represents a coin with no post-production imperfections visible at 5× magnification.
The Ultra Cameo designation identifies Proof coins displaying pronounced contrast between heavily frosted design elements and deeply mirrored fields.
This example therefore combines NGC’s highest numerical Proof grade with its Ultra Cameo designation.
There is no numerical grade higher than 70.
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NGC Population – Just 8 in PF70 Ultra Cameo
This is one of the strongest characteristics of the certified coin offered here.
At the time of checking on 30 August 2026, NGC records the exact:
1994 Bi-Met 10Y Panda Au 1/10oz – Ag 1/28oz
with only:
8 examples at PF70
and a highest recorded grade of:
70.
Your NGC certification evidence additionally displays:
PF70 Ultra Cameo Population: 8
Higher Grades: 0
Top Pop
For the coin offered here:
Published Original Mintage: 2,500
NGC PF70 Ultra Cameo Population: 8
Higher Grades: 0
Status: Top Pop
The mintage and certified population measure two different things.
The 2,500 figure records the published original mintage of the issue.
The 8 records examples currently certified by NGC at PF70 Ultra Cameo.
NGC Census figures can change as additional coins are submitted and certified, which is why the population is dated.
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An Exceptionally Small Top-Grade Population
The PF70 population becomes even more interesting when considered alongside the wider NGC Census.
NGC currently records 339 graded examples of the 1994 10 Yuan bimetallic Panda across its census, with only 8 at grade 70.
This means PF70 examples represent only a small proportion of the coins currently certified by NGC.
The rarity of the grade is also reflected by PCGS data.
PCGS’s current population report for the 1994 10 Yuan Panda Bi-Metallic Deep Cameo records 36 examples in total, with its highest examples currently at PR69 and none recorded at PR70.
That does not mean only eight grade-70 examples can ever exist, nor does it combine the populations of different grading services.
It does, however, provide useful context for how infrequently this particular issue has reached the highest numerical grade at the major third-party grading services.
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Proof Manufacture and Ultra Cameo Contrast
This 1994 Bi-Metallic Panda was produced as a Proof issue.
Proof manufacture is intended to produce highly defined design elements and reflective fields, creating a finish principally associated with collector coinage.
The example offered here has additionally received NGC’s:
ULTRA CAMEO
designation.
On a bimetallic coin, the contrast between the Proof finish and the two different precious metals gives the issue an especially distinctive visual character.
Combined with the PF70 grade, this places the coin at the highest numerical level currently represented within the NGC Census for the issue.
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A Distinctive Modern Chinese Proof
This particular coin brings together:
1994 Chinese Panda issue
Published mintage of just 2,500
Gold and silver bimetallic construction
1/10oz gold
1/28oz silver
10 Yuan denomination
Giant Panda imagery
Temple of Heaven
NGC PF70 Ultra Cameo
PF70 Ultra Cameo population of just 8
0 graded higher
NGC Top Pop
These characteristics give the coin several distinct areas of numismatic interest rather than relying on a single measure of scarcity.
The combination of a 2,500-coin original issue and an NGC PF70 Ultra Cameo population of just 8 gives this example a particularly strong identity within certified modern Chinese Panda coinage.
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Image Information
The slab images shown may include digitally produced representations for presentation purposes, with certification numbers and barcodes omitted.
Where detailed photographs of the actual coin are shown, these provide a closer view of the genuine coin offered for sale.
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Why Buy from Sterling Bullion Partners?
Every certified coin offered by Sterling Bullion Partners is carefully selected for its quality, authenticity and collector appeal.
When purchasing from Sterling Bullion Partners, you benefit from:
- Carefully selected certified coins
- Independently authenticated and professionally graded examples
- Detailed grading and population information
- Fully insured UK delivery
- Secure protective packaging
- Experienced customer support
- A UK precious-metals dealer committed to accuracy and transparency
With its 2,500 published mintage, gold-and-silver bimetallic construction and NGC PF70 Ultra Cameo population of just 8, the 1994 China Panda represents an unusual top-grade certified example from the specialist Bi-Metallic Panda series.
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