1 Yuan Bank of Pei Hai

The Bank of Pei Hai — Beihai Bank — was a Communist Party financial institution operating in the Shandong-Jiangsu-Hebei border regions during the civil conflict with Nationalist forces. It issued its own currency as part of a broader CCP strategy to maintain economic independence in liberated zones, competing directly with Nationalist fabi and later with gold yuan notes in the same territories.

The S-prefix in the Pick reference places this firmly in the specialized Chinese regional issues section — a category where survival rates vary enormously depending on which areas were later consolidated under PRC control and which saw active destruction of "old base area" currency during monetary unification in 1948–49.