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10 000 Yuan
| Issuer | Central Bank of China |
|---|---|
| Year | 1949 |
| Type | Log in to see details |
| Value | Log in to see details |
| Currency | Gold Yuan (1948-1949) |
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| Obverse description | Portrait of Chiang Kai-shek in military uniform at right, set within a decorative guilloche frame. The central field bears the denomination in large Chinese characters against an intricate floral underprint, with the issuer name 行銀央中 across the top. Corner numerals and repeated denomination markers 壹萬 appear in each corner, all printed in blue on white paper. |
|---|---|
| Obverse lettering | 行銀央中 金圓券 壹萬圓 008372 |
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| Comments |
By early 1949, the Nationalist government's gold yuan reform — launched just months earlier in August 1948 as a supposed hard-currency fix — had already collapsed catastrophically. The 10,000 Yuan denomination tells that story precisely: what began as a reform meant to replace billions of worthless fabi notes at a rate of 3 million to one had itself become worthless within half a year, forcing denominations that would have seemed absurd at the reform's launch.
Chung Hwa Book Company, better known as a major Shanghai publisher and printer, had been pressed into currency production as the government scrambled to keep pace with hyperinflation. The PLA took Shanghai in May 1949, ending the series entirely.