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100 Yuan Bank of Pei Hai

Issuer Bank of Pei Hai (北海银行)
Year 1945
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Value 100 Yuan
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Reverse description Printed in brown. The English bank name BANK OF BAI HAI is lettered across the top margin, with the numeral 100 repeated in the upper corners. A central guilloche vignette encloses the large numeral 100 in bold letterpress, flanked by symmetrical ornamental scroll and lathe-work panels. The English inscription ONE HUNDRED YUAN appears beneath the central vignette, with the year 1945 incorporated into the lower border design. The overall composition is framed by an intricate geometric border with repeating decorative elements at each corner.
Reverse lettering BANK OF BAI HAI
100
ONE HUNDRED YUAN
1945
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The Bank of Pei Hai was the currency-issuing organ of the Shandong-Jiaozhou liberated area under Communist Party administration during the Second Sino-Japanese War and the subsequent civil conflict. Its notes circulated in territory that changed hands repeatedly and under conditions where counterfeiting by Nationalist and Japanese-backed forces was a documented operational problem — the Communists responded with frequent design changes and regional overprints to limit exposure.

By 1945, Pei Hai notes were essentially military scrip functioning as de facto regional money, redeemable only within Party-controlled zones. Their survival rate is low; most were worn to destruction in active use or deliberately withdrawn after the 1948 consolidation into the People's Bank system.

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