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| 正面描述 | Central vignette presents a large herd of horses being driven across an open steppe, with a mounted herdsman visible among the animals in a scene rendered in intaglio. The denomination 壹萬圓 appears in a guilloche rosette at right, with corner cartouches repeating 壹萬 at all four corners. The bank name 中國人民銀行 runs along the top border, and the date 一九五一年 is inscribed at the foot of the note in red. |
|---|---|
| 正面铭文 | 行銀民人國中 圓萬壹 年一 五九一 (Translation: People's Bank of China 10,000 Yuan Year 1951) |
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The fifth series of the first renminbi (第一套人民币) was issued under extraordinary pressure — the People's Bank was still consolidating regional currencies absorbed from Kuomintang-controlled territories and various Communist base area notes, all while managing severe inflationary pressure inherited from the Republican period. This 10,000 yuan denomination was among the highest face values issued in the entire first series, a direct consequence of that inflation: by 1951, even large-denomination notes had limited purchasing power in daily transactions.
The first renminbi series was officially retired in 1955 when the second series launched at a conversion rate of 10,000 old yuan to 1 new yuan — effectively confirming how far the currency had been debased before stabilization.