Author Topic: Will PR China coinise 5 Yuan?  (Read 311 times)

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Offline Pabitra

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Will PR China coinise 5 Yuan?
« on: December 15, 2019, 11:37:47 AM »
China has issued a 5 Yuan circulating commemorative coin for the first time.
It is a rounded square coin, a new shape for it.
It is being issued at face value.
So far all 5 Yuan coins were circular and issued at a premium ( hence collector coins)
Does it plan to coinise 5 Yuan in to circulation with this new shape?

China recently changed from Stainless Steel to Nickel/Brass plated steel coins for its circulation coins.

This obviously means that the circulation coins series were recently reviewed, as is norm in all countries but policy of coinising a higher denominations was not announced.

Unlike most countries, which follow 1, 2, 5 and 10 as series, PR China has always followed 1, 5, 10 series. In addition, it follows a convention of naming 10 sub units as a new unit. 10 Fen is 1 Jiao and 10 Jiao is 1 Yuan. Will 10 Yuan have a new name too?
« Last Edit: December 15, 2019, 01:35:15 PM by Pabitra »

Offline Figleaf

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Re: Will PR China coinise 5 Yuan?
« Reply #1 on: December 15, 2019, 11:55:00 AM »
First, the shape is unsuitable for vending machines. Second, while China ought to expect increased inflation, due to Trump's trade war, officials may well see the issue of a new high value for circulation as an admission of failure and stop it out of principle. Third, the names of the denomination (fen, jiao, yuan) represent powers of 10, so another denomination is more likely to be a power of 10 also. However, the three denominations used now are "traditional". There is no tradition for a denomination of 10 yuan. Another denomination is therefore unlikely.

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Offline Pabitra

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Re: Will PR China coinise 5 Yuan?
« Reply #2 on: December 15, 2019, 01:47:51 PM »
Some typos corrected.
What is the percentage of vending machines in China?
The square shape appears to have been more rounded than normal square coins, perhaps as a concession to vending machines.
( where is our member, squarecoinman? He may like to offer his specialist comment).
OR perhaps China may have developed new type of vending machine where coin does not necessarily have to roll down the chute?
How do the foreign coin exchanging machines recognise the foreign coins?
I think it is objet recognition like in the Coinoscope App.
Recently ( in last 3-4 years), countries like India, Philippines, Saudi Arabia, Zimbabwe, Ghana, Ukraine, Lebanon etc have coinised higher denominations.
It is normal for any developing economy to progressively coinise higher denomination in view of rising prosperity.
Trade war does not seem to have reflected in any major impetus to inflation so far.

Offline Vincent

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Re: Will PR China coinise 5 Yuan?
« Reply #3 on: December 16, 2019, 11:49:51 PM »
Well, I have just published the text On the base metal commemorative coins of China since 1980 in another thread. I hope that adresses the question!