The following is a press release from NGCNumismatic Guaranty Corporation (NGC) recently graded a second example of a China 1987 Gold 5 Yuan Panda coin struck without the "P" mintmark. The "P" mintmark indicated that the coin was struck in Proof format, while the Y and S mintmarks were used for Mint State pieces struck at the Shenyang and Shanghai mints, respectively.

NGC graders compared the missing mintmark piece to the P, Y, and S-mintmarked 5 Yuan Pandas from that year and determined that its strike and surface quality are identical to the Proof "P" version and distinct from the Mint State "Y" and "S" coins. This variety has been designated "Missing Mintmark" on the NGC certification label.
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