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1 Cent Kwangtung Provincial Bank

Issuer Kwangtung Provincial Bank
Year 1949
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Currency Yuan (1914-1949)
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Obverse description Printed in red on cream paper, the obverse carries an oval portrait vignette of Sun Yat-sen at left, rendered in fine intaglio line work against an intricate guilloche underprint that fills the entire field. The bank title 廣東省銀行 appears in Chinese characters across the upper right, with the denomination 壹分 (1 Cent) displayed centrally in large characters within a radiating burst motif, flanked by two official seal impressions. The date inscription 中華民國三十八年 (Republic of China Year 38, i.e. 1949) runs along the lower border, with the printer's imprint 中華書局有限公司 at the bottom edge.
Obverse lettering 廣東省銀行
壹分
大洋票
AE AE
中華民國三十八年
中華書局有限公司
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The Kwangtung Provincial Bank's 1-cent note of 1949 belongs to one of the most chaotic monetary episodes in modern Chinese history. By the time this note was printed, the Nationalist government's gold yuan reform — launched in August 1948 to replace the collapsed fiat yuan — had itself collapsed within months, triggering hyperinflationary conditions that made fractional-cent denominations both absurd and briefly necessary as provincial authorities scrambled to maintain any functional small-change circulation.

The Chung Hua Book Company was among the more reliable printers available to Nationalist-aligned institutions in this period, though by 1949 even their output was being overtaken by political events. Guangdong fell to Communist forces in October 1949.

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