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10 Yuan Central Bank of China

Issuer Central Bank of China
Year 1945
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Reference(s) P#270
Obverse description Intaglio-printed oval vignette at left bears a portrait of Sun Yat-sen rendered in dark green against a pale ground with fine guilloche underprint. The denomination 拾圓 appears in large Chinese characters within an elaborate floral rosette guilloche panel at centre-right, flanked by two red seal stamps. The bank title 中央銀行 runs along the top in bold Chinese script, with the date inscription 中華民國三十四年印 at lower centre and the printer's imprint 中央印製廠上海廠 along the bottom margin.
Obverse lettering 中央銀行
拾圓
中華民國三十四年印
中央印製廠上海廠
(Translation: Central Bank of China / Ten Yuan / Printed in the 34th year of the Republic of China / Central Printing Plant, Shanghai Branch)
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The Central Bank of China issued an enormous volume of currency in the final years of the Second Sino-Japanese War, and this 1945 10 Yuan belongs to a period when inflationary pressure was already eroding the fabi's purchasing power faster than new notes could reach the public. By late 1945, what this note could buy had collapsed to a fraction of its nominal value from just two years earlier.

The Central Bank's Shanghai printing plant was among the few facilities that remained under Nationalist control throughout the war years, though output quality across the series varied considerably depending on paper and ink availability.

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