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| 正面描述 | Printed in red. The centre of the note is occupied by an elaborate rosette guilloche medallion with a central circular motif, surrounded by scrollwork and floral underprint. The bank name 北海銀行 (Bank of Pei Hai) is inscribed in large Chinese characters across the upper portion, flanked by serial numbers on either side. The denomination 壹百圓 (One Hundred Yuan) appears in Chinese characters at the centre, with 山東 (Shandong) inscribed at the left and right margins. A date inscription in Chinese at the lower border reads the equivalent of the Republic of China year. Corner devices and geometric border patterns frame the entire face. |
|---|---|
| 正面铭文 | 北海銀行 壹百圓 山東 中民國三十四年 |
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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 Their survival rate is low; most were worn to destruction in active use or deliberately withdrawn after the 1948 consolidation into the People's Bank system.