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100 Yuan Blue underprint

发行方 People's Bank of China
年份 1949
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材质 Paper
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正面铭文 行銀民人國中 壹 佰 圓 年八十三國民華中
(Translation: People`s Bank of China One Hundred Yuan Year 38 of the Chinese Republic)
背面描述 The reverse is dominated by an elaborate guilloche composition in purple-brown and green, with a large numeral "100" set within a central floral medallion surrounded by intricate lathe-work patterns. Circular rosette ornaments occupy the left and right corners, and the issuer's name in Chinese characters appears at the top beneath a decorative arch, with the year "1949" printed at the lower centre.
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This note belongs to the First Series Renminbi (第一套人民币), issued as the People's Liberation Army was still consolidating control across the mainland. The People's Bank of China had only been formally established in December 1948, and the first-series notes were printed under extraordinarily chaotic wartime conditions — across multiple facilities, with inconsistent paper stocks and varying print quality as a result. No single standardized production run existed for the series as a whole.

First-series 100 Yuan notes in particular are among the more difficult denominations to find without fading or foxing, owing to the low-grade paper used during production. The entire first series was withdrawn from circulation in 1955 when the second series introduced the "fen" subdivision system at a conversion rate of 10,000 old yuan to 1 new yuan.

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