2009 Chinese Silver Panda (Shenzhen Guobao v.s. Shenyang Mint)

It has came to light that there are at least 2 variations of the 2009 Silver Panda coin. Shenzhen Guobao Mint uses a typical capsule that has 3 hitches that holds the coin in place. This can be seen from previously when Silver Panda coins were issued in sealed plastic pouch. It was observed that coins struck by Shenzhen Guobao Mint were more frosty and also the words '1 oz Ag .999' were given deeper strike than that of Shenyang Mint. It is not known to me whether Shanghai Mint produced any of these coins.

Shenyang Mint produced

Shenzhen Guobao Mint produced deeper strikes

Shenyang Mint produced

Shenzhen Guobao Mint produced

Vast differences can be spotted at the intersection of the black fur on the white near the neck and hind legs. Also, the white area of the leaves the panda is holding, the eyes and ears too.