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1 Jiao / 10 Cents
| Issuer | The Central Bank of China |
|---|---|
| Year | 1949 |
| Type | Standard circulation banknote |
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| Obverse description | The obverse is centered on a portrait vignette of Generalissimo Chiang Kai-Shek in military uniform, set within an ornate frame flanked by fine guilloche underprint work. The bank title in Chinese characters (中央銀行) appears above the portrait, while the denomination 壹角 is rendered in bold script below. Decorative borders with intricate geometric patterning frame the entire face of the note. |
|---|---|
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| Reverse description | The reverse is dominated by elaborate guilloche rosette patterns forming the central underprint, with the English legend THE CENTRAL BANK OF CHINA running across the top and the denomination TEN CENTS displayed centrally in bold lettering. The Chinese equivalent 壹角 appears below the English denomination, and the year 1949 is placed at the lower right within the decorative border. |
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| Comments |
The Central Bank of China's 1949 small denomination notes were issued against a backdrop of complete monetary collapse. By mid-1949, the Gold Yuan — introduced just months earlier as a replacement for the discredited Fabi — had itself failed catastrophically, with hyperinflation so severe that 1 Jiao represented a fraction of a fraction of real purchasing power. These notes were printed and issued knowing the regime that authorized them was already losing the mainland.
The Central Engraving and Printing Works in Shanghai fell to People's Liberation Army forces in May 1949. Notes produced there in the final weeks of Nationalist control are among the last outputs of that institution under ROC authority.