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10 Yuan
| Issuer | People's Bank of China |
|---|---|
| Year | 1949 |
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| Composition | Paper |
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|---|---|
| Obverse lettering | 行銀民人國中 圓拾 年八十三國民華中 (Translation: People's Bank of China Ten Yuan Year 38 of the Chinese Republic) |
| Reverse description | Intricate all-over guilloche design in brownish-red tones, with the large numeral 10 at centre within an ornate latticework frame surrounded by fine rosette and scroll patterns. The bank title 中國人民銀行 is inscribed at the top, and the Gregorian year 1949 appears at the foot within a decorative panel. |
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| Comments |
This note belongs to the First Series Renminbi, introduced while the civil war between the Communists and Nationalists was still technically ongoing. The People's Bank of China had only been established in December 1948 — a consolidation of three regional Communist banks — and the First Series was issued under genuinely chaotic conditions, with production distributed across multiple printing facilities of varying capability. That accounts for the considerable variation in paper quality and print sharpness found across the series.
First Series notes were entirely withdrawn from circulation by 1955 when the Second Series RMB was introduced at a conversion rate of 10,000 old yuan to 1 new yuan — reflecting the hyperinflationary damage the currency had absorbed in its short life.