Yuan vs. dollar

[everything]

A traded a kid for a quarter, I thought it was pretty neat trade off for giving a 12 year old lots of advice and a game of pool. The coin was a 1995 1 yuan coin, the coin if your not familiar with looks exactly like a quarter, it's just barely larger than our quarter. Still, I was like, I gotta have it.

[Derek.Sheriff]

1 yuan = 0.156752 USD. But in 5-10 years I submit that the quarter you traded will be worth less than yuan you obtained

[ZenOps]

Yuan a constant reminder not place your faith in any paper instrument.

Back in 1948, the exchange rate was 3 million Yuan for one gold Yuan - even though the gold Yuan was in name only (not redeemable for gold)

Sure China is doing relatively well compared to the Euro and US dollar, but its small comfort for anyone who gets caught in the paper game.

For billionaires, paying $120 million for a painting is a good investment.

[everything]

At the time I figured it was worth 6 or 7 cents.. Guess it's really called RMB to us, as a friend of mine married a chinese girl. Renminbi, which literally means “the people’s currency.” As Renminbi, can be a mouthful, although commonly they call it kuai, mao, fen instead. (Yi Wan Yuan) equals ten thousand yuan. There are also Shi Wan (one hundred thousand), Bai Wan ( a million), Qian Wan (ten million) in Chinese. Apparently counterfeits are common so people look at their change pretty carefully. This one looks real, but how could I tell, I have nothing to compare it into the world coin change jar it goes, being only worth pennies.

[penny pretty]

hell why not? I never came across a chinese coin. I have found bermuda pennies,pfennings, euros, and a polish gronzy in penny rolls.

[Derek.Sheriff]

Yuan a constant reminder not place your faith in any paper instrument.

Back in 1948, the exchange rate was 3 million Yuan for one gold Yuan - even though the gold Yuan was in name only (not redeemable for gold)

Sure China is doing relatively well compared to the Euro and US dollar, but its small comfort for anyone who gets caught in the paper game.

For billionaires, paying $120 million for a painting is a good investment.

I couldn't agree more, but in most cases, people need fiat paper or at least coins to transact. Also, I've heard some people I respect make some pretty convincing arguments that the Chinese are moving toward a currency backed by some kind of precious metal.

In the meantime, I recognize that all fiat currencies are like sinking ships. It's just that some are sinking faster than other

[John_doe]

I always like to have some yuan on hand. I would much rather have my hand here than in usd, but above these I would rather have pm's.


diversification is key in this world.