100 Yuan Bank of Pei Hai

The Bank of Pei Hai (北海银行) was a Communist Party financial institution operating in the Shandong-Jiaozhou base area, and its notes circulated in territory actively contested between CCP forces, Nationalist troops, and remnant Japanese occupation units. The 1945 date places this note at the tail end of the Pacific War, when the base area banking system was under considerable pressure to maintain economic stability against deliberate Nationalist currency flooding — a documented tactic used to destabilize Communist-held zones.

The S-prefix Pick reference signals guerrilla or regional issue status. Notes from this bank in this period were typically printed under difficult conditions with limited standardization between print runs, and P#S3591B likely reflects a distinct plate variant within the 100 Yuan series rather than a separate emission entirely.