10 Francs Panda I

Rwanda's panda-themed bullion series was issued in deliberate competition with the Chinese Panda program, targeting collectors who sought fractional gold at accessible price points. The National Bank of Rwanda served as issuer of record, though the coins were produced and distributed through European wholesale channels rather than through any domestic Rwandan mint infrastructure.

At 0.1555 grams, this is a 1/200th-ounce piece — a denomination so small that handling losses during assay can meaningfully affect the recoverable gold content.