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10 Yuan
| Issuer | Central Bank of China |
|---|---|
| Year | 1948 |
| Type | Log in to see details |
| Value | 10 Yuan |
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| Composition | Log in to see details |
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| Obverse description | Portrait of Chiang Kai-shek in military uniform at right, facing left, within a green intaglio vignette against a fine guilloche underprint. The denomination 拾圓 appears in a central ornate cartouche, flanked by decorative rosette patterns. The bank title 中央銀行 is inscribed across the top in bold Chinese characters, with the denomination repeated vertically in the side borders. |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Vignette of the Central Bank of China building in Nanking at left, rendered in fine line engraving with flag atop the structure. The central panel bears two oval medallions inscribed TEN YUAN flanking the numeral 10, all within an elaborate guilloche border. The issuer's name THE CENTRAL BANK OF CHINA runs across the top in English letterpress, with the year 1948 at the bottom centre and the numeral 10 repeated in each corner. |
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| Comments |
By mid-1948 the Nationalist government's finances were in freefall. The Central Bank had been printing at volumes that made denomination control essentially meaningless — the 10 Yuan note was obsolete almost the moment it left the press. When the Gold Yuan reform launched in August 1948, outstanding Fabi notes like this one were converted at four million to one Gold Yuan, which gives some sense of the inflation that had accumulated since 1945.
The Central Bank of China Printing Works produced this entirely in-house, one of several denominations churned out in the final chaotic year of Nationalist monetary control on the mainland.