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1 Jiao / 10 Cents
| Issuer | Central Bank of China |
|---|---|
| Year | 1949 |
| Type | Standard circulation banknote |
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| Obverse description | Portrait of Sun Yat-sen in uniform at right, rendered in intaglio style against a fine guilloche underprint in blue. Large Chinese characters for the denomination 壹角 appear at centre-left within an ornate rosette vignette. Serial number and prefix letter are printed in red at upper centre, with Chinese and English issuing authority inscriptions framing the design. |
|---|---|
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| Reverse lettering | THE CENTRAL BANK OF CHINA TEN CENTS 1949 CHUNG HWA BOOK CO.,LTD. |
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| Comments |
The Central Bank of China was printing notes like this one even as the Nationalist government was collapsing around it. By 1949, hyperinflation had so thoroughly destroyed public confidence in paper currency that denominations this small were effectively irrelevant to daily commerce — the gold yuan, introduced in 1948 as a stabilization measure, had already failed catastrophically within months. This 1 Jiao piece was issued into an economy where denominations in the millions were commonplace.
Chung Hwa Book Co. was one of several Shanghai-based printers the Nationalist government relied on heavily in its final years, as foreign printing arrangements became logistically and politically untenable. The firm had deep roots in commercial publishing before its involvement in security printing.