Beijing's ancient coin market reopened Tuesday after being closed for more than a year for renovation.
Located on the northwest of the Second Ring Road, the market is the capital's only specialist coin trade center.
The market has 20 stalls where coin collectors can have their coins valued and they can exchange, buy or sell coins.
The Beijing Museum of Ancient Coins, also housed in the market, has on exhibition 2,000 coins from the past 4,000 years out of a collection of nearly 10,000 ancient coins, showing the diversity of China's ancient currencies.
The museum also has a replica of a money shop with the ancient notes and the balance used to weigh silver. The exhibit explains the history of the money shop, the old-style private bank, which was unique to ancient China.
Money shops developed during the Ming and Qing dynasties (1368 to 1911). This forerunner of the bank gradually evolved from a place to exchange money to a financial institution providing loans. During the later half of the 19th century, money shops were at their height with more than 380 shops in Beijing.
In 1952, the New China abolished all private financial organizations and the money shop disappeared.
Beijing's ancient coin market is scheduled to hold the 16th National Coin Fair in mid November this year.
(People’s Daily October 31, 2002)
