Why does the central bank issue hundreds of sets of commemorative coins in 35 years？
On December 18th, the People’s Bank of China began to issue a set of commemorative coins for the 2020 New Year, which was "second light" in many places. Since the beginning of this year, the People’s Bank of China has issued commemorative coins for many times, which has been widely concerned by the market. Not long ago, the first special-shaped commemorative coin — — Taishan commemorative coins were sold out just after they were put on sale, and the face value of 5 yuan was sold online to 24 yuan.
Why are commemorative coins widely concerned? What is the purpose of distribution? Why does the price of commemorative coins rise and fall?
The first special-shaped ordinary commemorative coin was sold out.
On November 28th, the People’s Bank of China issued the World Cultural and Natural Heritage — — Taishan Ordinary Commemorative Coin, with denomination of 5 yuan, with rounded square shape, circumscribed circle diameter of 30mm, made of brass alloy, has issued 120 million pieces.
This is the first time that the People’s Bank of China has issued a special-shaped ordinary commemorative coin, which has been widely concerned by the market. As one of the official distribution channels, China Construction Bank’s official website data shows that after the reservation was started in Beijing, it took only 10 minutes to break through 2.48 million pieces. At 0: 40 on November 21st, the number of online reservations in Beijing was zero. Those who don’t have an appointment can only go to the business hall early the next morning to make an appointment. At 15: 40 on November 21, the system showed that the number of offline reservations in Beijing was zero.
"This Taishan commemorative coin is very special and feels more collectible." Ms. Liang, a Beijing citizen, has a lot of commemorative coins in her home, ranging from commemorative coins for the 50th anniversary of the founding of Xizang Autonomous Region to commemorative coins for the Year of the Rooster. "My first set of commemorative coins is a gift from a friend, and it is a the Year of the Loong commemorative coin, because I belong to the dragon. Since then, I have been paying attention to various commemorative coins issued by the central bank every year. When I see something I like and have special significance, I will buy one set. "
What is a commemorative coin?
Commemorative coins are legal commemorative coins issued by a country to commemorate international or domestic political, historical and cultural events, outstanding figures, places of interest, rare animals and plants, sports events and so on. Including circulating commemorative coins and non-circulating commemorative coins. In China, circulating commemorative coins are also called ordinary commemorative coins, including commemorative coins and commemorative banknotes, which are generally made of base metals such as copper, nickel and zinc; The non-circulating commemorative coins, also known as gold and silver commemorative coins, are generally made of precious metals such as gold and silver. Ordinary commemorative coins have the same function as the current RMB, and are circulated at the same value as the RMB with the same denomination.
Where are commemorative coins issued?
The Regulations of People’s Republic of China (PRC) on the Administration of Renminbi stipulates that the People’s Bank of China may issue commemorative coins as needed. If the theme of commemorative coins involves major political and historical themes, it must be approved by the State Council. 30 days before the issue, the People’s Bank of China will make an announcement to the public, announcing the theme, face value, material, pattern, style, specification, circulation and issuing time of commemorative coins.
How to buy?
Taking Taishan ordinary commemorative coins as an example, they are issued by appointment, and China Industrial and Commercial Bank, China Agricultural Bank, China Bank and China Construction Bank respectively undertake the appointment issuance of Taishan ordinary commemorative coins in some provinces, autonomous regions and municipalities directly under the Central Government. The public can make an appointment to register through the websites or business outlets of the above four banks with the original ID cards of the second generation, and the quota for each person to make an appointment and exchange is 20.
Issue hundreds of sets of commemorative coins in 35 years
Since 1984, the People’s Bank of China has been issuing commemorative coins for 35 years, and has issued hundreds of ordinary commemorative coins (commemorative banknotes). Among them, the "Commemorative Coin for the 35th Anniversary of the Founding of People’s Republic of China (PRC)" issued on October 1, 1984 is the first circulating commemorative coin officially issued by the People’s Bank of China, which laid a good foundation for the issuance of circulating commemorative coins.
Counting hundreds of sets of commemorative coins in the past 35 years, in addition to the "earliest issue", there are several "most" worthy of attention.
Issue at least — — The 30th Anniversary Commemorative Coin of Ningxia Hui Autonomous Region, issued on September 20th, 1988, is the least circulated commemorative coin by the People’s Bank of China so far, with a complete set of one commemorative coin and a circulation of only 1.56 million.
Minimum face value — — The "Commemorative Coin for the 6th National Games" issued on November 20th, 1987 has a face value of 10 cents, which is a set of commemorative coins with the lowest face value, the smallest specification and the lightest metal weight.
In addition, there is the largest diameter — — "Special commemorative coin for rare animals" in 1993, with a diameter of 32 mm；; The most public welfare — — On October 26th, 1994, the "Commemorative Coin for the 5th Anniversary of Project Hope" was issued, and the Chinese and English logo of "Project Hope" … …
Over the past 35 years, the People’s Bank of China has formed certain characteristics in issuing commemorative coins.
The circulation is increasing. In 2003, the circulation of Lunar New Year sheep was 10 million; in 2009, it was 30 million; in 2012, it was 80 million; in 2014, it was 100 million; and at the beginning of this year, it was as high as 250 million. It can be seen that the circulation of commemorative coins has increased year by year in recent years.
The theme of distribution is getting richer and richer. From the first set of commemorative coins issued in 1984 to commemorate the 35th anniversary of the founding of New China, to the anniversary of the founding of five autonomous regions, to sports series, great men series, rare animals series, the theme of New Year’s greetings and auspicious culture series, etc., the commemorative coins issued by the People’s Bank of China have become more and more rich in themes and covered more and more widely.
The distribution method is becoming more and more mature. In 2015, the People’s Bank of China began to make an appointment for redemption in some provinces and cities, and it was not until 2017 that all new year chickens were issued. At present, many banks such as Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China and China Construction Bank are responsible for the appointment of commemorative coins in some provinces, autonomous regions and municipalities directly under the Central Government. Citizens can make an appointment online at the undertaking bank official website or at offline outlets.
Blindly following the trend is risky.
The Taishan ordinary commemorative coins issued at the end of November are so popular that the "yellow cattle" will naturally not be absent. Commemorative coins with a face value of 5 yuan can be sold as high as one in 24 yuan on an e-commerce platform, with an increase of over 300%. A barrel of 20 pieces soared from 240 yuan to 600 yuan, and some people even shouted out the high price of 3,500 yuan for five barrels.
Why is it so hot? According to the analysis of commemorative coin lovers, on the one hand, due to its small face value and circulation, the market capital pressure is relatively small, and the collection threshold is low; On the other hand, the smaller the face value of commemorative coins, the easier it is to be fried. In addition, factors such as small circulation and few appointment opportunities have also increased the scarcity of Taishan ordinary commemorative coins, thus pushing up the price.
It is not advisable to speculate in money. The business management department of the People’s Bank of China specially issued an information warning, reminding the general public, especially elderly consumers, to be cautious in coin collection, to raise their awareness of self-protection and not to believe in relevant advertisements. According to industry insiders, although the market response has been enthusiastic after the issuance of commemorative coins in recent times, the main value of commemorative coins lies in collection, and the risk of blindly speculating coins is high.
The relevant staff of the People’s Bank of China said that the recycling link is an important prerequisite for maintaining the sound development of the commemorative coin market. For collectors, commemorative coins will lose some value if they cannot be converted into working capital. However, there is no formal recycling channel for commemorative coins at present.
Although Ms. Liang has collected some commemorative coins at home, she has never participated in speculation. "I think speculation is like stock trading, and the risk is too high. I bought commemorative coins purely because I like them, and the total price of a set is not high. I am happy at home. " Many insiders also said that commemorative coins can be collected as personal interests, but speculation is absolutely impossible.