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Wednesday, 30th September 2009 (4063 views)

Demand for the commemorative gold coins issued to mark the 60th anniversary of the founding of the People's Republic of China is extremely high, according to dealers and collectors in the country.

The country's central bank launched a set of three gold and two silver coins on September 16th.

A total of 60,700 coins have been issued with face values of 10,000 yuan, 2,000 yuan and 100 yuan.

The coins feature China's national emblem set in a frieze of peonies on the obverse, with various designs including a rocket, a satellite, a high-speed train and Beijing's Olympic Stadium on the reverse.

Veteran numismatist Xu Tinggui told China Daily that the coins are extremely valuable collectors' items because of the importance and special nature of the issue.

Cai Yanan of Beijing Caibai Gold and Jewelry added demand for the gold coins in particular "far exceeds the supply".

China Daily said the market price for the one-kilogram gold coin is currently around 600,000 yuan (£54,638).

 

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