Recently, the 2024 Chinese New Year coins opened for pre-order at 10 p.m. on January 3, attracting widespread attention. Numerous bank web servers have reportedly failed, resulting in interruptions in the booking process. The price rose that night, and some of the sets even rose to nearly 1,000 yuan, and the rise in the price of souvenirs was inseparable from the impact of circulation.
The coins issued this time include the 2024 Zodiac Dragon series ordinary commemorative coins and the 2024 Chinese New Year commemorative banknotes, with face values of 10 yuan and 20 yuan respectively, and the materials are copper alloy and plastic materials. It is understood that they are expected to issue a total of 120 million and 100 million copies.
The reverse design of the Lunar New Year commemorative coin features a dragon as the main body, incorporating modern paper-cutting techniques and decorative elements of New Year paintings, and the card-like design is accompanied by lanterns and lingzhi mushrooms, symbolizing New Year celebrations. The Chinese New Year commemorative banknotes are mainly composed of dragons on the front, and the back is a children's street dance dragon lantern pattern, and at the same time, the decorative pattern of Beijing courtyard houses is added, and the packaging is rich in cultural characteristics.
It is reported that 7.18 million commemorative coins and 6.02 million commemorative banknotes were allocated to Beijing this time, and the quota was exchanged by reservation. The specific exchange dates are 7 to 8 January 2024 for the Lunar New Year Coins and from the 9th to the 15th of the Lunar New Year Banknotes this month. There is a limit of 20 Chinese New Year coins and 20 Chinese New Year banknotes per person. If the remaining part is exchanged, the balance exchange will be initiated in the next month.
It is worth noting that the popular pre-order picks, namely the Year of the Dragon commemorative coin and commemorative banknote set, have been speculated to nearly 1,000 yuan, setting off a new boom in the coin collecting market. However, the increase in prices is also subject to the impact of issuance.
People familiar with the matter said that the commemorative banknotes with a face value of 10 yuan in the past, such as the "Olympic banknotes" in 2008, even doubled to more than 6,000 yuan when the price reached its peak due to the circulation of only 6 million pieces, compared with the current price is still about 2,200 yuan. Similarly, the 100 yuan "Millennium Dragon Banknote" issued in 2000 was also relatively scarce due to its issuance, and the highest price once exceeded 3,000 yuan, and even today it still maintains a price of about 1,600 yuan per piece.
In summary, despite the high pre-order of the 2024 Chinese New Year coins, the value of the commemorative banknotes is still affected by the total number of coins issued. In particular, the price of commemorative banknotes, which are rare in circulation, fluctuates greatly. This makes some collectors need to be more cautious when making investments.
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