Catalog
1 Fen / Cent
| Issuer | Bank of Taiwan |
|---|---|
| Year | 1949 |
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| Composition | Log in to see details |
| Size | 79 × 43 mm |
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| Obverse description | Central vignette of the Bank of Taiwan building rendered in intaglio style within a blue guilloche border, with the bank name in Chinese characters (台灣銀行) at the top. Two red seal impressions flank the denomination cartouche at centre, with the denomination (壹分) displayed in a foliate medallion below the building. The serial number and exchange rate inscription appear in the lower field, with the printer's imprint along the bottom margin. |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | The reverse is printed in blue on a plain ground within a guilloche frame. A map of Taiwan occupies the central field, superimposed with the numeral "1". The issuer name "BANK OF TAIWAN" is lettered in capital Roman type at the top, and the denomination "ONE CENT" appears in a banner cartouche at the base, with the year "1949" below. |
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| Comments |
The Bank of Taiwan's 1949 fen notes were issued in the immediate aftermath of the New Taiwan Dollar reform of June that year — the currency replacement that lopped four zeros off the collapsing Old Taiwan Dollar at a rate of 40,000 to 1. These tiny-denomination notes were a practical necessity: the new dollar needed fractional coinage, but metal was scarce and minting capacity limited, so paper filled the gap.
The Central Engraving and Printing Factory had only recently relocated to Taipei as Nationalist forces lost the mainland. Production circumstances were accordingly rough.