Cen­tral bank to re­move 1 jiao coin series

China Daily (USA) - - CHINA - By CHI­NADAILY

One series of the 1 jiao coin (0.15 cents) was to be re­moved from cir­cu­la­tion start­ing on Tues­day, mak­ing the coin more valu­able for col­lec­tors, ac­cord­ing to a re­port by Mod­ern Ex­press.

Peo­ple’s Bank of China, the cen­tral bank, has called on banks na­tion­wide to hand over all that series of 1 jiao coins, adding that no new such coins are to be dis­trib­uted, the news­pa­per re­ported.

The coin, minted mainly from 1991 to 1999, is among the fourth series of ren­minbi coins. It fea­tures a chrysan­the­mum on one side and the Na­tional Em­blem of the Peo­ple’s Repub­lic of China, the full ti­tle of the state in Chi­nese and pinyin on the other side.

The fourth series of notes were in­tro­duced in de­nom­i­na­tions of 0.1, 0.2, 0.5, 1, 2, 5, 10, 50 and 100 yuan. Coins were in­tro­duced in de­nom­i­na­tions of 0.1, 0.5 and 1 yuan.

The re­port cited a col­lec­tor as say­ing that the coin is fa­vored by col­lec­tors be­cause of its de­sign, which fea­tures nonagon in­side edges on both sides of the coin.

“A 1994 edi­tion of the coin is worth about 30 yuan, while a set of nine coins from 1991 to 1999 is worth about 200 yuan,” the col­lec­tor said.

The coin was also minted in 2000, but that edi­tion was never dis­trib­uted to the pub­lic. It was only in­cluded in a col­lec­tion al­bum and is said to worth about 1,000 yuan.

How­ever, a sin­gle coin wouldn’t have much value in terms of col­lec­tion. In ad­di­tion, few buy­ers would pur­chase ox­i­dized coins, ac­cord­ing to the col­lec­tor.

“There­fore, there is lit­tle point in search­ing for an old coin in at­tempts to make a profit from sell­ing it,” the col­lec­tor added.

REN WEIHONG / FOR CHINA DAILY

The 1 jiao coin fea­tures a chrysan­the­mum on one side.

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