does "in Panther" mean, that you want to use the bundled applications? If so, I don't really know. However, there is a really good tool called Toast Titanium 6 which I can unconditionally recommend. It's no freeware, but the $79 are worth!
Use "Disk Copy" in your Utilities folder.
Create a disc image (.dmg file), this is an exact copy of a disc. All you do is open Disk Copy, and drag the disc to its window. That's it.
Then to burn it you go to File -> Burn Image... That will burn it as the original.