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1 Yuan Bank of Pei Hai
| Issuer | Bank of Pei Hai |
|---|---|
| Year | 1945 |
| Type | Local banknote |
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|---|---|
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| Reverse description | Brown letterpress print. The central design consists of an elaborate guilloche oval underprint bearing a large numeral '1', surrounded by intricate engine-turned scrollwork and floral corner ornaments. The text 'BOXAI INXANG' is inscribed in a rectangular panel at the top, with 'SHANDUNG' centred below the central vignette and the date '1945' at the foot, with the numeral '1' repeated in each corner. |
| Reverse lettering | BOXAI INXANG SHANDUNG 1945 |
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| Comments |
The Bank of Pei Hai (北海银行) was established in 1938 by the Shandong-based Communist guerrilla administration as a regional currency authority operating behind Japanese lines. By 1945 it had expanded significantly across the Bohai coastal region and parts of Shandong and Hebei, issuing notes intended to displace both Japanese military scrip and Nationalist-affiliated currency in areas under CCP control.
These notes circulated in genuinely contested territory — not as peacetime instruments but as tools of economic warfare, underwritten by a government that did not yet control the ground it was printing money for. After 1948 the bank was absorbed into the newly established People's Bank of China.