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December 25, 2013

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Locals queue for commemorative coins

Local residents lined up in long queues yesterday to buy commemorative coins for the Year of the Horse.

The People’s Bank of China issued 100 million coins across the country to celebrate the New Year. The coin, made of brass alloy, has a face value of 1 yuan (16 US cents) and can be used in the currency market with same denomination as the ordinary 1-yuan coin or note, the PBOC said.

The back of the coin depicts a pattern in which a girl is riding on a hobbyhorse with an auspicious ornament in hand. On the right side of the girl, there are two Chinese characters “Jia Wu,” which refers to 2014 in the Chinese lunar calendar.

Local residents, mostly elderly people, lined up as early as 4am to buy the coins, four hours before the banks open.

Outside a branch of the Industrial and Commercial Bank of China on Huaihai Road M., the queue winded up to more than 200 meters long.

Many people bought the coins to give as gifts to children and friends who were born in the Year of the Horse during the Chinese New Year, while others were simply coin collectors. Each person were  allowed to buy only one coin.



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