近日，多地官宣延长"马币马钞"兑换期限。 据央行公告，2026年贺岁纪念币、纪念钞的全国统一集中兑换时间为1月20日至1月26日。为 保障公众兑换需求，央行多地分行发布关于延长"马币马钞"兑换期限的公告。其中，北京延 长至1月31日；宁夏回族自治区延长至1月29日；深圳延长至2月1日；重庆、内蒙古自治区、 黑龙江、山西等多地延长至2月2日。与此同时，工商银行、建设银行、交通银行等承办银行 陆续发布公告，明确延期安排及兑换相关规则。 据央行公告，2026年贺岁双色铜合金纪念币及贺岁纪念钞的全国统一集中兑换时间为1月20 日至1月26日。不过，截至1月26日兑换期结束，仍有部分已预约成功的贺岁币钞尚未完成兑 换。 近日，北京、宁夏回族自治区、深圳、重庆、内蒙古自治区、黑龙江、山西等多地宣布延长 上述贺岁币、贺岁钞的兑换期限。 比如，央行北京市分行官网1月26日发文称，为进一步做好2026年贺岁普通纪念币、2026年 贺岁纪念钞发行工作，方便公众兑换，已成功预约2026年贺岁币、2026年贺岁钞，但未在 2026年1月20日至1月26日期间按时兑换的社会公众，可在2026年1月27日至1月31日期间前往 预约银行网 ...

随着马年新春临近，贺岁币、贺岁钞作为承载生肖文化与收藏价值的法定货币，其兑换工作备受市场关 注。 根据中国人民银行公告，2026年贺岁双色铜合金纪念币及贺岁纪念钞的全国统一集中兑换时间为1月20 日至1月26日。截至1月26日集中兑换期正式结束，全国范围内仍有部分已预约成功的贺岁币钞未完成兑 换。 《金融时报》记者获悉，近期，北京、深圳、内蒙古、山西、黑龙江等多地陆续宣布延长贺岁币、贺岁 钞的兑换期限，工商银行（601398）、建设银行（601939）、交通银行（601328）等承办银行纷纷发布 公告，明确延期安排及兑换规则，配合央行做好兑换保障工作。 "为进一步做好2026年贺岁普通纪念币和2026年贺岁纪念钞发行工作，经中国人民银行北京市分行研究 决定，开展延期兑换工作。"工商银行北京市分行公告显示，符合条件的客户可于2026年1月27日至1月 31日网点正常营业时间，前往已成功预约的该行网点办理兑换业务。 1月26日，建设银行北京市分行也发布了2026年贺岁普通纪念币、2026年贺岁纪念钞延期兑换的公 告。"本次办理延期兑换工作安排仅限于在2026年1月13日至1月14日期间预约成功（预约并通过核 查） ...

Core Viewpoint - The high-risk nature of the secondary market for commemorative coins and notes is highlighted, with concerns over authenticity and potential price drops due to large issuance volumes [1][3]. Group 1: Market Dynamics - The total issuance of commemorative coins and notes is 100 million pieces, with regional distribution varying significantly, such as 6.3 million for Beijing and 7.5 million for Liaoning [2]. - Despite the large issuance, online reservations were extremely competitive, leading to a surge in secondary market activity as buyers sought alternatives after failing to secure items through official channels [2][3]. - The commemorative coin has a face value of 10 yuan, while a complete set of 20 coins is priced at 200 yuan; the commemorative note has a face value of 20 yuan, with a complete set of 20 notes priced at 400 yuan [2]. Group 2: Investment Risks - The secondary market is characterized by significant emotional and speculative premiums, which may not accurately reflect the long-term value of the items [2][3]. - Buyers are advised to clarify their intentions—whether for collection or speculation—and to be cautious of impulsive decisions made in emotionally charged environments [1][3]. - The lack of physical items available for immediate trade and the absence of authoritative verification channels in the secondary market increase the risk of fraud and misrepresentation [1][3].

Core Viewpoint - The launch of the 2026 New Year commemorative coins and banknotes has sparked a rush among consumers, leading to significant demand and difficulties in the reservation process, highlighting the growing trend of viewing these items as investment opportunities rather than mere collectibles [1][7]. Group 1: Reservation Process - The People's Bank of China announced the issuance of 10 yuan commemorative coins (1 billion pieces) and 20 yuan commemorative banknotes (1 billion pieces), with a reservation limit of 20 pieces per person [1][7]. - On January 13, the reservation system faced significant traffic, with many banks experiencing crashes and slow response times, resulting in rapid depletion of available quantities [2][4]. - Consumers reported difficulties in the reservation process, including system lag and unreceived verification codes, indicating a high level of competition for these items [4][7]. Group 2: Market Dynamics - The secondary market for these commemorative items is already showing significant price increases, with listings for a 10 yuan coin and a 20 yuan banknote reaching prices of 55 yuan, nearly doubling their face value [1][8]. - Investors are actively seeking to profit from these items, with some offering "thank you fees" of 300 to 500 yuan for successful reservations [1]. - The trend of viewing commemorative coins and banknotes as investment opportunities is driven by cultural significance, scarcity expectations, and the ease of online reservations, attracting both casual collectors and investors [7][8]. Group 3: Historical Context and Future Outlook - Previous commemorative issues, such as the "snake banknote" and "snake coin," have shown significant price fluctuations, with current resale prices reflecting a decline from initial peaks, indicating a volatile market influenced by consumer sentiment [14]. - The cultural significance of zodiac-themed items tends to enhance their desirability, suggesting that future releases may continue to attract strong interest and investment potential [14].

Core Viewpoint - The 2026 Year of the Horse commemorative coins and banknotes have seen overwhelming demand, leading to rapid sellouts during the reservation period, sparking discussions about potential second reservation opportunities [1][3]. Group 1: Reservation Process - The reservation for the commemorative coins and banknotes began on January 13, with many users reporting difficulties in securing their reservations due to system overloads [2][3]. - The People's Bank of China has set the offline exchange period for the Year of the Horse commemorative coins and banknotes from January 20 to January 26, requiring successful applicants to present their ID for exchange [3]. Group 2: Market Dynamics - The current market price for a complete set of commemorative coins is around 60 yuan, with the coins having a face value of 10 yuan each and the banknotes at 20 yuan each [4]. - The market is particularly interested in "lucky numbers" for banknotes, which can significantly affect their value, with some numbers being highly sought after and commanding much higher prices [5][6]. Group 3: Investment Risks - Experts caution that while the current interest in the Year of the Horse commemorative items is high, historical trends indicate that prices can fluctuate significantly, as seen with previous commemorative coins [7]. - The market for commemorative coins is currently facing competition from rising gold and silver prices, which may affect the demand for these items [7].

Core Viewpoint - The 2026 Year of the Horse commemorative coins and banknotes have been highly sought after, with sellers on second-hand platforms pricing them at significant premiums, indicating strong demand and market interest [1][8]. Group 1: Market Demand - The 2026 Year of the Horse commemorative coins and banknotes were quickly sold out upon reservation opening, with many users expressing frustration over the difficulty in purchasing them [1]. - On a second-hand trading platform, sellers are offering 10-piece sets of the commemorative banknotes (each with a face value of 20 yuan) for prices generally around 400 yuan, and 20 commemorative coins (each with a face value of 10 yuan) for prices around 300 yuan [8]. Group 2: Product Details - The 2026 commemorative coin has a face value of 10 yuan, a diameter of 27 mm, and is made of bimetallic copper alloy, with a total issuance of 100 million pieces (including 10,000 for historical archives) [14]. - The 2026 commemorative banknote has a face value of 20 yuan, dimensions of 145 mm by 70 mm, and is made of plastic, with a total issuance of 100 million notes (including 20,000 for historical archives) [15].

Group 1 - The 2026 New Year commemorative coin and banknote reservation officially opened on January 13, leading to high demand and related topics trending on social media [1] - Construction Bank reported no system failures during the reservation process, but noted that high traffic could cause congestion on the reservation page [1] - Agricultural Bank indicated that this was the first reservation for the 2026 commemorative coin and banknote, and there has been no notification regarding a second reservation [1]

Core Viewpoint - The reservation for the 2026 Year of the Horse commemorative coins and banknotes opened on January 13, 2026, leading to significant public interest and online discussions about the difficulty of securing these items [1]. Group 1: Reservation Experience - The 2026 Year of the Horse commemorative coins sold out within one minute of the reservation opening, with users reporting issues such as network errors and system overloads on banking apps [2][5]. - Many users, including a participant named Li, experienced difficulties accessing the reservation page, with some resorting to multiple devices to secure their reservations [5]. - A user from Guangzhou noted that their family has struggled to secure commemorative coins in previous years, highlighting the recurring issues of app crashes and delays during the reservation process [8]. Group 2: Bank Responses - Several banks, including Industrial and Commercial Bank of China (ICBC), China Construction Bank (CCB), and Agricultural Bank of China (ABC), acknowledged the high demand for the commemorative coins and noted that system congestion is common during such events [9]. - CCB stated that there were no system failures reported during the reservation period, while ICBC mentioned that any unclaimed reservations might be released later for others to claim [9]. Group 3: Commemorative Coin Details - The 2026 Year of the Horse commemorative coin set includes a 10 yuan copper alloy coin, a 20 yuan banknote, a gold coin, and a silver coin, with a total issuance of 100 million units for both the coin and banknote [10]. - The pricing for a complete set of 20 coins and 20 banknotes is set at 600 yuan, while secondary market prices range from 1,000 to 1,200 yuan, indicating a premium of 40% to 60% over the original price [13]. Group 4: Market Analysis - The current premium on the commemorative coins reflects both short-term speculation and structural scarcity, with historical trends suggesting that prices may stabilize over time [17]. - The cultural significance of the "Horse" in Chinese tradition enhances the appeal of these coins, driving demand among collectors and gift-givers [17].

Group 1 - The 2026 commemorative coins and banknotes will be available for online reservation starting January 13, with a total issuance of 100 million for each product [1] - Shanghai government has introduced four financial measures focusing on consumer scenarios and innovation in consumer finance, aiming to support the expansion of consumer finance business in the banking sector [4] - The banking industry is experiencing a retail "asset enhancement battle," with state-owned banks offering rewards exceeding 3,000 yuan to attract retail deposits and investment [7] Group 2 - Pudong Development Bank reported total assets exceeding 10 trillion yuan, with a net profit growth of 10.52% year-on-year, indicating improved asset quality and profitability [1] - The Chongqing Rural Commercial Bank's management has increased their shareholdings, signaling confidence in the bank's future development [2] - A significant amount of high-interest fixed deposits, estimated at around 50 trillion yuan, will mature in 2026, which may stabilize bank profitability as funds are reallocated [3] Group 3 - Over 60 village banks have been transformed into branches by state-owned banks in 2026, aiming to enhance financial services in rural areas [5] - Banks are launching structured deposits linked to gold, with annualized returns reaching up to 5%, as gold investment products gain popularity amid fluctuating gold prices [8] - Many small and medium-sized banks are closing cross-border transaction capabilities for debit cards in response to increasing incidents of overseas card fraud, enhancing their risk management systems [10]

Group 1 - The 2026 commemorative coins and banknotes will start online reservations on January 13 at 22:00 and 22:30 respectively [1] - The commemorative coin has a face value of 10 yuan, a diameter of 27 mm, and is made of bimetallic copper alloy with a total issuance of 100 million pieces, including 10,000 for historical records [1] - The design of the commemorative coin features traditional Chinese paper-cut art combined with decorative elements, showcasing a horse image [1] Group 2 - The commemorative banknote has a face value of 20 yuan, dimensions of 145 mm by 70 mm, and is made of plastic with a total issuance of 100 million pieces, including 20,000 for historical records [3] - The front of the banknote features a horse design along with the national emblem and various security features, while the back showcases children celebrating with drums and Mongolian decorative patterns [3]