China to issue commemorative coins for millennium anniversary of paper currency

The People's Bank of China (PBOC), China's central bank, will issue a set of rectangular-shaped gold and silver commemorative coins to celebrate the millennium anniversary of paper currency in China on April 22, 2024, according to the official website of the PBOC.

The set will include two gold coins and one silver coin. All of them will be legal tender in China, featuring the national emblem on the obverse, along with the country name and year of issuance.

Photo shows the obverse of the 150-gram commemorative gold coin marking the millennium anniversary of paper currency in China. (Photo/People's Bank of China)

Photo shows the reverse of the 150-gram commemorative gold coin marking the millennium anniversary of paper currency in China. (Photo/People's Bank of China)

Photo shows the obverse of the 8-gram commemorative gold coin marking the millennium anniversary of paper currency in China. (Photo/People's Bank of China)

Photo shows the reverse of the 8-gram commemorative gold coin marking the millennium anniversary of the paper currency in China. (Photo/People's Bank of China)

One of the gold coins will contain 150 grams of pure gold, and measure 64 millimeters by 40 millimeters. Its reverse will feature a combination of images showing typical street scenes, business activities, and characteristic local landscapes of the southwestern Chinese city of Chengdu in the Northern Song Dynasty (960-1127). The country's earliest official paper currency was first used in Chengdu in the Northern Song Dynasty.

Chinese characters reading "Millennium Anniversary of Chinese Paper Currency" and the coin's denomination will also appear on the reverse side of the gold coin.

The other gold coin will contain 8 grams of pure gold and measure 23 millimeters by 15 millimeters. The reverse side of the coin will be inscribed with the number “1000” as well as a combination of images of representative elements of China's paper currencies, the coin's denomination, ribbon patterns, and Chinese characters reading "Millennium Anniversary of Chinese Paper Currency.”

Photo shows the obverse of the 30-gram commemorative silver coin marking the millennium anniversary of paper currency in China. (Photo/People's Bank of China)

Photo shows the reverse of the 30-gram commemorative silver coin marking the millennium anniversary of paper currency in China. (Photo/People's Bank of China)

The silver coin will contain 30 grams of pure silver and measure 42 millimeters by 27.5 millimeters. Its reverse side will feature the number “1024,” which represents the year 1024 when China officially started to issue paper currency.

The name of the first government agency responsible for issuing and managing the country's paper currency, the denomination of the silver coin, images depicting scenes of people exchanging paper currency, ribbon patterns, as well as Chinese characters reading "Millennium Anniversary of Chinese Paper Currency" will also appear on the reverse side of the silver coin.

The 150-gram gold coin will have a face value of 2,000 yuan ($276) and a maximum mintage of 500 pieces, while the 8-gram gold coin will have a face value of 100 yuan and a maximum mintage of 10,000 pieces.

The silver coin, with a face value of 10 yuan, will have a maximum mintage of 20,000 pieces.