Core Viewpoint - The launch of the 2026 Year of the Horse commemorative coin and banknote exchange took place despite adverse weather conditions, showcasing strong public interest and effective service management by the bank [1][2]. Group 1: Event Overview - The exchange for the 2026 Year of the Horse commemorative coin and banknote began on January 20, 2026, amidst heavy snowfall and icy road conditions in Nantong [1]. - Long queues formed outside the Industrial and Commercial Bank of China (ICBC) Nantong Chongchuan People's Road branch, indicating high demand for the commemorative items [1]. Group 2: Service Management - The bank implemented thorough planning and preparation to ensure smooth operations, including site layout assessments and process optimizations for the exchange [1]. - Staff received comprehensive training to handle various operational tasks, including appointment verification and payment processing, while also providing amenities like hot water and non-slip mats for customer comfort [1]. Group 3: Customer Engagement - Many collectors arrived early to participate in the exchange, with some waiting an hour before the opening [1]. - The bank's emergency plan was activated to manage increasing customer flow, leading to the establishment of two dedicated exchange windows for efficient service [2]. Group 4: Exchange Performance - By the end of the day, the branch successfully completed exchanges for nearly 500 customers, ranking among the top in the region for exchange volume [2]. - The commemorative coin, part of the second round of zodiac coins, was highly sought after, with reservations selling out quickly, reflecting its artistic and collectible value [2].

Core Viewpoint - The core value of commemorative coins and notes lies in their cultural significance and collectible attributes, as well as the demand for gifts before the festival, while the short-term speculation leading to false premiums requires vigilance from all parties [4][5]. Group 1: Market Dynamics - The 2026 Year of the Horse commemorative coins and notes sold out instantly upon reservation, with reports of secondary market premiums exceeding five times the original price [1]. - On platforms like Xianyu, the complete set of horse notes has surged from the original price of 400 yuan to 2000 yuan, with some specific serial numbers trading at extreme rates, such as "one banknote for one gram of gold" [1]. - The issuance volume of the commemorative coins and notes reached 100 million each, which does not align with the reasonable threshold of "scarcity" in the collectible market, indicating limited long-term appreciation potential [5][6]. Group 2: Speculation and Consumer Behavior - Some cultural shops are excessively marking up the prices of low-cost commemorative coins, with a 158% premium on a 10 yuan coin selling for 25.8 yuan and a 240% premium on a 20 yuan note selling for 68 yuan [3]. - The low barrier to entry for the public to participate in reservations, requiring only an ID, has turned the speculation into a "collecting frenzy" accessible to everyone [4]. - The hype surrounding the "sold-out" status and "first-day appreciation" rumors often triggers a herd mentality among the public, further inflating market enthusiasm [4]. Group 3: Regulatory Environment - Regulatory bodies have begun to take action to standardize market order, with the People's Bank of China and the State Administration for Market Regulation issuing guidelines to curb illegal trading of RMB and requiring honesty and fairness in transactions [7]. - An official secondary trading platform has been launched to provide a legitimate channel for the circulation of commemorative coins, aiming to reduce speculation [7]. - There is a need for precise actions against scalpers and false advertising on second-hand platforms, as well as strict checks on the risks of personal information leakage associated with "reservation tools" [7].

Core Viewpoint - The reservation for the 2026 commemorative coins and banknotes began at 22:00 and 22:30 on January 13, leading to significant online interest and discussions on social media platforms, particularly Weibo, where topics related to the "Horse Year Commemorative Coin" quickly became trending [1][4]. Group 1 - The reservation window for the Horse Year commemorative coin was highly sought after, with over 2,917,180 reservations attempted [2][5]. - The topic "Horse Year Commemorative Coin Not Available" reached over 1,057,105 discussions, indicating a high level of frustration among potential buyers [2][5]. - Users reported issues with the reservation process, stating that the system showed "loading" and that by the time they accessed the reservation, the available quantities had already been depleted [3][6]. Group 2 - Multiple banks experienced a rapid sell-out of the commemorative coins and banknotes, with reports of them being "gone in seconds" during the reservation period [3][6]. - The trending topics on Weibo included hashtags such as 抢马币 (Grab Horse Coin) and 马币 (Horse Coin), reflecting the public's eagerness and the competitive nature of the reservation process [1][4].