Catalog
1 Yuan
| Issuer | Bank of Taiwan |
|---|---|
| Year | 1954 |
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| Reference(s) | P#R120 |
| Obverse description | Portrait of Sun Yat-sen within a circular guilloche vignette at upper centre, flanked by ornate floral cornerpieces. Bilingual restriction text reading 限馬祖地區通用 appears in two panels to left and right of the central numeral cartouche. Serial number printed in red below. |
|---|---|
| Obverse lettering | Log in to see details |
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| Reverse lettering | BANK OF TAIWAN ONE YUAN 1954 祖 馬 |
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| Comments |
The Bank of Taiwan operated as a quasi-central bank for the island following the KMT retreat from the mainland in 1949, issuing its own currency distinct from the New Taiwan Dollar administered by the Central Bank. This 1 Yuan note belongs to a series produced during a period of strict monetary controls imposed under martial law, when the Taiwan Provincial Government maintained tight oversight of circulation volumes to prevent a repeat of the hyperinflationary collapse that had devastated the mainland currency just years earlier.
Pick R120 — the "R" prefix in the catalog denotes regional issue status, a classification that still generates occasional debate among specialists regarding the note's precise institutional authority.