Catalog
1 Yuan
| Issuer | Bank of Taiwan |
|---|---|
| Year | 1949 |
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| Composition | Cotton paper |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | 台灣銀行 壹圓 限金門通用 中華民國三十八年 |
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| Reverse lettering | BANK OF TAIWAN 金門 ONE YUAN 1949 |
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| Comments |
The Bank of Taiwan's 1949 1 Yuan note belongs to the emergency currency framework established after the catastrophic hyperinflation of the Old Taiwan Dollar, which had required a 40,000-to-1 redenomination when the New Taiwan Dollar was introduced in June of that year. The Central Engraving and Printing Plant — relocated to Taiwan from the mainland as the Nationalist government collapsed — was producing currency under extraordinary logistical pressure, essentially reconstituting itself mid-retreat.
The series was never intended as a permanent monetary architecture. Within a few years, low-denomination paper gave way to coin production as the island's economy stabilized under American aid.