Olympic coins
If you’re like us, you probably have a habit of collecting crap and hoping that one day it might be worth something. If so, June 20th will be your lucky day. The People’s Bank of China is issuing a commemorative 300 RMB Olympic Coin. Even more exciting is the fact that they are only issuing the very Olympic number of 20008 (c’mon it’s only one zero off) of these 10cm in diameter coins. That is approximately 1 coin per 75,000 people in China. According to our college economics class, a small supply and a high demand should equal a very high price.
In addition, each coin contains one kilo of pure silver, which melted down would also be worth somewhere around 300 RMB. Anyway you look at it, it’s one hell of a deal. What better way to remember the Beijing Olympics than an expensive coin. Also, if you happened to get forcibly evicted from your house because of the Olympics, then you might just be able to make a little profit on the coin to find a new place to live or at least cover your medical bills after being beaten up.
The People’s Bank of China is also issuing a whole bunch of cheaper and far less exciting Olympic coins and plans to issue another batch sometime in 2008. All coins have the Beijing Olympic Logo on one side and Chinese clichés like dragons or the Great Wall on the other. There has been no news on where to obtain the coins yet, but we at Shanghaiist see a dangerous, but profitable scheme in the making.
