Catalog
1 Yuan
| Issuer | Bank of Taiwan |
|---|---|
| Year | 1949 |
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| Currency | New dollar (1949-date) |
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| Obverse description | Vertical format note with a central oval vignette containing a bust portrait of Dr. Sun Yat-sen facing slightly left, set against a fine guilloche underprint in red. The denomination 壹圓 appears in a decorative lozenge-shaped cartouche below the portrait, with ornamental corner devices at all four angles. The issuer's name 行銀灣台 is printed across the top in bold Chinese characters, and the serial number appears at top and bottom. |
|---|---|
| Obverse lettering | 行銀灣台 壹 圓 印年八十三國民華中 厰北台厰製印央中 (Translation: Taiwan Bank One Yuan Printed in the thirty-eighth year of the Chinese Republic Central Engraving and Printing, Taipei) |
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| Comments |
The Bank of Taiwan's 1949 yuan series was introduced as part of the New Taiwan Dollar reform — a direct response to the catastrophic hyperinflation that had consumed the old Taiwan yuan, itself a legacy currency inherited from the Japanese colonial administration. The June 1949 conversion fixed the rate at 40,000 old yuan to one new dollar, effectively wiping out the accumulated monetary damage of the preceding years.
Printing at the Central Engraving and Printing Factory in Taipei marked a deliberate shift toward domestic production capacity, timed to the KMT government's retreat from the mainland. The factory would carry the full burden of Taiwan's currency production almost immediately.