China
People's Republic gold "Frosted Ring" Panda 25 Yuan 2000 MS67 NGC, Shenyang mint, KM1305, Fr-B6, PAN-328A. Featuring a sublimely frosted appearance to the fields, this enchanting piece exhibits some light spotting on the obverse and reverse. Intended for export, those with mirrored fields were issued instead for distribution in China.
HID02901242017
Estimate: 350-450 USD