The People's Bank of China has announced it will issue a set of gold and silver coins to commemorate the 60th anniversary of the founding of the People's Republic of China.

The set comprises three gold coins and two silver ones. One side of the coin features China's national emblem, set in a frieze of peonies, which symbolizes prosperity in Chinese culture. The reverse includes a rocket, a satellite, a high-speed train and the Beijing Olympic Stadium.

A total of 60,700 gold coins will be issued. The coins will have a face value of 10 thousand, 2 thousand and 1 thousand yuan respectively. 106,000 silver coins will also be issued with face values of 310 yuan. The coins will be legal tender.