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100 Yuan Central Bank of China

Issuer Central Bank of China
Year 1944
Type Standard circulation banknote
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Obverse lettering 行銀央中 圓佰壹 印年三十三國民華中
(Translation: Central Bank of China One Hundred Yuan Printed in the 33rd year of the Republic)
Reverse description The reverse is printed in dark green on a fine guilloche underprint. A large shield-shaped guilloche panel occupies the centre, bearing the bold numeral 100 above and below the denomination legend ONE HUNDRED YUAN. The bank title THE CENTRAL BANK OF CHINA arcs across the top in an ornate banner, flanked by elaborate scrollwork borders. Numeral 100 appears in circular medallions at all four corners, and the year 1944 is inscribed at the foot of the central panel between two signature lines attributed to the Assistant General Manager and General Manager.
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Comments

By 1944 the Central Bank of China was printing currency in quantities that bore little relationship to any underlying reserve. Wartime inflation was already severe — the 100 Yuan note that could feed a family in 1937 had lost the overwhelming majority of its purchasing power by the time this issue reached circulation. The Printing Works was essentially running presses to fund a war effort, not to maintain a functional monetary system.

Hyperinflation accelerated sharply through 1945–1948, which means notes of this period were cycled through transactions rapidly and discarded. High-denomination survivors in any condition tend to show hard use.

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