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100.000 Yuan

Issuer Central Reserve Bank of China
Year 1945
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Currency Yuan
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Obverse description Purple on yellow-brown underprint. Central vignette of Dr. Sun Yat-sen portrait, flanked by denomination panels reading 拾萬圓 on both sides. Block letters AAG appear in upper corners, with decorative guilloche borders and red seal impressions. Chinese bank title and denomination inscriptions frame the design.
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Reverse description Purple vignette of the Sun Yat-sen Mausoleum at center, set within an ornate frame with guilloche work and numeral panels reading 100000 on both sides. Facsimile signatures of Governor and Vice Governor appear below the central vignette, with year date 1945 in a panel at the foot.
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The Central Reserve Bank of China was a Japanese-sponsored institution operating in occupied China, and by 1945 its notes were in catastrophic freefall. This 100,000 Yuan denomination — among the highest the bank ever issued — reflects the terminal hyperinflation gripping the puppet currency in the war's final year, when purchasing power had collapsed so thoroughly that notes of this face value were effectively worthless on issue.

The bank ceased operations entirely when Japan surrendered in August 1945, leaving enormous quantities of late-series notes unissued or barely circulated.

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