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1 Yuan Bank of Shangtong

Issuer Bank of Shangtong
Year 27 (1938)
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Shape Rectangular
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Obverse description Green letterpress print on plain paper. Central vignette of the Temple of Heaven, Beijing, flanked by denomination numerals within guilloche rosettes at left and right. Chinese text reads right to left, with square seal-script overprints at corners; year inscription reads Year 27 of the Republic of China.
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Reverse lettering 1 - 1
BANK OF SHANGTONG
1 - 1
1
1938
ONE YUAN
1 - 1
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The Bank of Shangtong was a provincial institution established under Japanese occupation authorities in Shandong province. Notes like this 1 Yuan were part of a deliberate currency strategy to displace Nationalist-era money and extract economic control from occupied territories — the issuing banks were nominally Chinese in name but operated under Japanese military and financial oversight.

Shandong's occupation-era paper suffered serious inflation pressure as the war progressed, and much of this currency was ultimately demonetized after 1945, making circulated survivors more common than uncirculated ones.

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