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1 Yuan
| Issuer | People's Bank of China |
|---|---|
| Year | 1949 |
| Type | Standard circulation banknote |
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|---|---|
| Obverse lettering | 行銀民人國中 圓壹 年八十三國民華中 (Translation: People's Bank of China One Yuan Year 38 of the Chinese Republic) |
| Reverse description | The reverse is dominated by a large, intricate guilloche pattern in dark purple, composed of three overlapping elliptical rosettes with fine lathe-work engraving, centred on an arabesque medallion bearing the numeral '1'. The bank name 中國人民銀行 appears in a rectangular panel at the top, and the year '1949' is printed along the lower border. The numeral '1' also appears in the four corners within small decorative frames. |
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| Comments |
This note belongs to the first series of Renminbi, issued in the months immediately following the establishment of the People's Republic — a currency rolled out under genuinely chaotic conditions, with multiple regional printers producing notes simultaneously to meet the demands of a country still in the final stages of civil war. The Hua Nan Printing Company was one of several facilities pressed into service, and production consistency across the series is notoriously uneven.
First series Renminbi were demonetized in 1955 and exchanged at 10,000 old yuan to 1 new yuan — a ratio that reflects the hyperinflation inherited from the Nationalist period. Notes that survived that conversion outside the banking system are the ones collectors encounter today.