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100 Yuan Farmer's Bank of Northwest China

Issuer Farmer's Bank of Northwest China (西北農民銀行)
Year 1943
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Value 100 Yuan
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Obverse description Printed in green, the obverse carries a central vignette of a flock of sheep grazing in a pastoral landscape at right, enclosed within a decorative guilloche border. The denomination 壹百圓 is rendered in bold Chinese characters at centre-left, with corner numerals reading 壹百 on all four sides. Serial number appears in red at upper left and upper right, flanked by the bank title 西北農民銀行 along the top margin and the Republican era date 中華民國三十二年 at lower centre.
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Reverse lettering SIBEI NUNG MIN INXANG
100
I BAI YAN
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The Farmer's Bank of Northwest China was a communist-controlled regional bank operating in the Shaan-Gan-Ning Border Region — the Yan'an base area governed by the Chinese Communist Party during the Second Sino-Japanese War. It issued its own currency as a deliberate economic weapon: notes circulated within the border region were used to displace Nationalist fabi and stabilize CCP-controlled territory against both Japanese military scrip and Chongqing's inflation pressure.

The S-prefix Pick reference places this firmly in the Chinese provincial and local issues, and the "Dd" suffix denotes a specific signature or plate variety within the 1943 100-yuan denomination — a high face value reflecting the inflationary pressures of wartime. By 1948, the border region currency was absorbed into the new Renminbi system and existing notes were retired.

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