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Q: Why is there a 1 RMB coin AND a 1 RMB note?
Same for the 5 mao note and coin
Are they printing both at the same time or is one supposed to replace the other at some point? I really don't understand the reason behind it
11 years 4 weeks ago in Money & Banking - China
Real value of money is decreasing, so 'replacement' is in process.
Paper is cheaper than coins!
Nessquick:
I do not know, but in Czech, they have canceled the paper notes of 10,20 and 50CzK value and keep using only coins now. note that 1 box of Marlboro is around 90CzK (4,5USD) and 2l coca Cola around 35CzK (1,8USD). so the notes should not be cheaper than coins ...
I think they are still minting the coins. http://www.cbpm.cn/English/ProductRange/Mint/
It is odd. Sometimes the check out person in the supermarkets will have a pile of 1RMB notes, a pile of 1 RMB coins, and then give back a mix of both
They use 1 RMB notes in the north of China more than coins for some reason. I hate going to Beijing and coming back with a load of dirty 1 RMB notes. You hardly get them in Shanghai, and when you do, they're not falling apart or almost black.
They do that in the states too. You can have a one dollar bill and a silver dollar which equates to one dollar.
diverdude1:
Really? a silver dollar? hmm,,, I and my ancestors have lived in the States over about the last 300 years. I never saw a silver dollar coin being used as currency.
Perhaps u are thinking of the Eisenhower dollar,, that was only about a million years ago and even then not all that commonly used. Of course there was the SBA & the Sacagawea, which are not referred to as 'silver' even in the vernacular, which also were never very widely used.
sorry 99,, US hasn't used a silver dollar since 1936. The Eisenhower dollar was beautiful but contained no silver and was never widely used, except in some casinos,,, lol.
IAM NOT SURE WHY IS THEIR A 1 DOLLAR BILL AND A SILVER DOLLAR IN THE US AND A 2 DOLLAR NOTE
ALSO WHY IS THEIR A 20 DOLLAR BILL AND A 20 DOLLAR GOLD EAGLE IN THE US
Subway machinese only accept 5 yuan bills and above. For 1 yuan it has to be coin.
It is very much a regional thing. I have lived in different parts of China. In the south and west they despise the coins, but that is what you get in major cities in the east. People in western China seem to be of the opinion that coins are dirty.
