100 Yuan

This note belongs to the First Series Renminbi, issued by the People's Bank of China following its establishment in December 1948 — a currency designed from the outset to replace the catastrophically inflated Nationalist Kuomintang issues and unify a fragmented monetary system operating across multiple Communist-administered base areas. The First Series was unusual in that different denominations were printed at different regional facilities with inconsistent quality control, and collectors frequently encounter significant variation in paper stock and ink color within the same Pick number.

First Series RMB was wholly demonetized by 1955 and could not be exchanged after a brief conversion window, meaning notes that survived did so outside official channels.