Catalog
1 Fen / Cent
| Issuer | Bank of Taiwan |
|---|---|
| Year | 1954 |
| Type | Standard circulation banknote |
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| Obverse description | Cream paper printed in blue ink with a central vignette of the Bank of Taiwan building, framed by a guilloche border with corner ornaments. The denomination is expressed in Chinese majuscule numerals with an exchange rate notation indicating ten fen equal one jiao. Two official red validation stamps appear on the face, with the year of issue rendered in the Republic of China calendar era and the printer's imprint of the Central Engraving and Printing Factory, Taipei. |
|---|---|
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| Reverse description | Blue ink on cream paper in vertical format, with a guilloche border framing a central vignette of the island map of Taiwan, over which the numeral "1" is superimposed. The issuer's name appears at the top in English, the denomination "ONE CENT" is set within a cartouche at the lower centre, and the Gregorian year "1954" is printed below. |
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| Comments |
The Bank of Taiwan's 1954 fen series was issued during a period of acute monetary instability following the 1949 currency reform, when the New Taiwan Dollar was introduced at a conversion rate of 40,000 old Taiwan dollars to one new — a ratio that reflected the severity of the hyperinflationary collapse on the mainland and its spillover effects on the island's economy.
The Central Engraving and Printing Factory in Taipei had only recently established full domestic production capacity, having relocated from the mainland. At this denomination, notes were essentially tokens, and low-face-value pieces from this run are frequently found with heavy handling wear.