Coin of the Month November 2008: China 1 Yuan 2002
Originating with the shells of sea snails between 3,000 and 4,500 years ago, China is one of the first places to adopt currency in addition to a barter trade system. Over the years China has used a variety of currencies. Today, in the People's Republic of China, Renminbi is the currency in use. Renminbi, which translates to "Peoples' Currency," is divided into Yuan, Jiao and Fen. 1 Yuan = 10 Jiao = 100 Fen. Hong Kong, Macao and Taiwan use currency separate from the mainland.
November's Coin of the month is the 1 Yuan coin. It is currently traded at about .15 cents USD. The value of the Yuan has risen in the last 3 years against the dollar. The flower on the reverse of the Yuan is a chrysanthemum, a flower cultivated for over 500 years in China as an herb often brewed in tea to aid against the flu.