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10 Yuan

Issuer Bank of Taiwan
Year 1950
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Value 10 Yuan
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Obverse description Vertically oriented note with an oval portrait vignette of Sun Yat-sen at centre, set within a decorative guilloche frame. The issuer's name in Chinese characters (台灣銀行) appears at the top, with the denomination 拾圓 rendered in large Chinese characters in the lower half against a fine underprint. Two red seal impressions flank the central text panel, and the serial number and date inscription appear at the foot of the note.
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Protection description Watermark visible in the paper.
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Comments

The Bank of Taiwan was not the central bank of the Republic of China — it was a provincial institution, yet it ended up issuing the currency that actually functioned as Taiwan's money after 1949. When the Nationalist government retreated from the mainland, the New Taiwan Dollar was introduced in June 1949 as a stabilization measure following the catastrophic hyperinflation that had destroyed the old Taiwan Dollar. This 1950 issue belongs to the early consolidation period, when the monetary system was still fragile and the political situation anything but settled.

The printing was handled domestically, an unusual circumstance given how recently Taiwan had acquired its own printing infrastructure — the island had been Japanese territory until 1945.

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