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1 Jiao / 10 Cents
| Issuer | Bank of Taiwan |
|---|---|
| Year | 1949 |
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| Composition | Log in to see details |
| Size | 95 × 49 mm |
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|---|---|
| Obverse lettering | 行銀灣台 角壹 圓壹兌角拾每 印年八卅國民華中 厰北台厰製印央中 (Translation: Taiwan Bank 1 Jiao Ten Jiao for One Yuan Printed in the thirty-eighth year of the Chinese Republic Central Engraving and Printing, Taipei) |
| Reverse description | Vertically oriented reverse printed in green, with a central intaglio vignette of the Bank of Taiwan building set above an outline map of Taiwan island. The numeral 10 appears in large figures immediately below the building vignette, with the English legends identifying the issuer and denomination arranged above and below within a guilloche frame, corner numerals repeated at all four angles. |
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| Comments |
The Bank of Taiwan was reconstituted as a provincial institution following the Nationalist government's takeover of the island from Japanese administration in 1945, and this 1949 issue came at a moment of severe monetary crisis on the mainland. The New Taiwan Dollar series, of which this small-denomination note is part, was introduced in June 1949 specifically to insulate Taiwan's currency from the catastrophic hyperinflation destroying the Gold Yuan — the exchange rate was fixed at 40,000 Gold Yuan to 1 New Taiwan Dollar.
The Central Engraving and Printing Factory had relocated to Taipei from the mainland, bringing equipment and staff ahead of the Nationalist collapse.