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The fen (分 /fnn/), 1/100th of a yuan, is so seldom used now that fen coins and notes are almost out of circulation. Apart from the 2 yuan and 1 yuan notes these notes from the fourth series are seldom seen in circulation.Paper notes come in 1 and 5 jiao, 1, 2, 5, 10, 20, 50 and 100 yuan denominations, though the 2 yuan note is rarely seen these days. In this guide, beyond the value of money in its purchasing power, we consider its value as a reflection of the Chinese people.Below is the fifth series of banknotes, commissioned in 1999, with the head of Mao Zedong on the front, and fourth series jiao notes. 100 Yuan (Reverse Image: The Great Hall of the People, Beijing) 50 Yuan (Reverse Image: The Potala Palace, Lhasa) 20 Yuan (Reverse Image: The Li River, Guilin) 10 Yuan (Reverse Image: The Yangtze Three Gorges, Central China) 5 Yuan (Reverse Image: Mount Tai, Shandong Province) 1 Yuan (Reverse Image: “Three Ponds Reflecting the Moon”, West Lake, Hangzhou) 5 Jiao and 1 Jiao (Front: Emblem of the PRC, Reverse Images: Chinese Minority Faces) 1 Yuan (Reverse Image: Chrysanthemum) 5 Jiao (Reverse Image: Lotus) 1 Jiao (Reverse Image: Orchid) The earliest form of Chinese money was shells (hence the use of the shell character in many other characters related to value, money and wealth). In the period of rival states (770 – 221 BC) different shapes of money were used by different states: knife-shaped, spade shaped, and ant-nose-shaped.By submitting a coin and listing a declared value, the submitter agrees that the declared value represents the current fair market value (FMV) of the submitted coin.
Fair Market Value: For the purposes of this Policy, the “current Fair Market Value” is the value of the coin if it were to be sold, as determined by NGC in its sole reasonably exercised discretion.Electronic transactions are becoming increasingly common, so expect the frustrations in supermarket queues as everywhere else in the world when someone ahead of you has a handful of items and chooses to pay with a bank card. Cash is still the preferred means of transaction, so notes of various denominations are changing hands all day long, even for quite large amounts.Becoming rich is a common wish, dream and pursuit, though more and more of the younger generation, not having been to exposed to the difficulties their parents and grandparents faced in times of need, are looking further afield in life for fulfillment.' Paper money' (actually yellowy low-grade perforated paper) is even burned for the dead in the belief (or tradition) that it will give them money for the afterlife, especially on Qingming Festival or Tomb Sweeping Day. The basic unit of Chinese currency is the yuan (元 /ywen/), spoken colloquially as kuai (块 /kwhy/).There are 10 jiao (角 /jyaoww/), known colloquially as mao (毛 /maoww/), to the yuan.