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1 Dollar

Issuer Hong Kong Government
Year 1945
Type Standard circulation banknote
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Obverse description This is a notable overprint issue: a Japanese Military Administration note (1000 Yen) has been overprinted in red with the legends ONE DOLLAR, $1, and HONG KONG GOVERNMENT, along with a strikethrough overprint in Chinese characters cancelling the original Japanese inscription 大日本帝國政府. The underlying note retains its original orange-on-yellow intaglio design, with a vignette of a traditional Japanese gate structure to the left and a portrait of a crowned figure in imperial regalia to the right, enclosed within an ornate guilloche border.
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Reverse description The reverse retains the original Japanese Military note design, printed in orange on cream paper. The central field bears large Chinese characters 軍用手票 (Military Currency) flanked by two ornate medallion vignettes containing the character 千 (one thousand) and 圓 (yen/dollar). The numeral 1000 appears at the foot, and a decorative floral cartouche with the imperial chrysanthemum crest surmounts the composition, all enclosed within an elaborate guilloche border.
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Comments

This note was printed in advance by the British authorities and held in readiness for the liberation of Hong Kong from Japanese occupation. When the Japanese surrendered in August 1945, the existing wartime currency — Military Yen issued by the Japanese administration — needed immediate replacement. These pre-printed notes were rushed into circulation to fill that void, alongside pre-war Hong Kong dollar notes that had been suppressed since 1941.

The 1945 date distinguishes it from superficially similar issues in the series. It was a transitional instrument, intended to restore a functioning currency fast rather than to make a lasting design statement.

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