The Bank of Taiwan 1 Yuan of 1949 belongs to the emergency currency structure assembled after the Nationalist government retreated to Taiwan following the Communist victory on the mainland. The ROC had just completed a catastrophic hyperinflationary collapse on the continent — the Gold Yuan reform of 1948 had failed within months — and Taiwan needed a functioning local currency quickly. This note was part of that stopgap framework, issued under a temporary provincial banking authority rather than the central government.
Pick 102A is the version without the overprint that appears on related issues in the series. The distinction matters to completists tracking the administrative transitions of that period.
The Bank of Taiwan 1 Yuan of 1949 belongs to the emergency currency structure assembled after the Nationalist government retreated to Taiwan following the Communist victory on the mainland. The ROC had just completed a catastrophic hyperinflationary collapse on the continent — the Gold Yuan reform of 1948 had failed within months — and Taiwan needed a functioning local currency quickly. This note was part of that stopgap framework, issued under a temporary provincial banking authority rather than the central government.
Pick 102A is the version without the overprint that appears on related issues in the series. The distinction matters to completists tracking the administrative transitions of that period.