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2 Jiao / 20 Cents
| Issuer | Central Bank of China |
|---|---|
| Year | 1949 |
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| Composition | Paper |
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| Obverse description | Portrait of Sun Yat-sen in an oval intaglio vignette at right, facing three-quarters left, set against a fine guilloche underprint in olive-green. The large denomination numeral 貳角 occupies the centre field, flanked by ornamental corner scrollwork repeating the denomination 貳角 in each corner. Two red seal impressions appear in the lower centre area, with the bank title 中央銀行 and subsidiary legend 銀元券 printed across the upper register. |
|---|---|
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| Reverse description | Oval vignette at left enclosing a finely engraved view of the Temple of Heaven in Beijing, rendered in olive-green intaglio with detailed architectural linework. To the right, a guilloche panel carries the large numeral "20" above the denomination legend TWENTY CENTS in serifed letterpress. The bank title THE CENTRAL BANK OF CHINA runs across the upper border, with the year 1949 at the foot and the printer's imprint below. |
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| Comments |
By mid-1949, the Nationalist government's monetary system was in freefall. The Gold Yuan, introduced in August 1948 as a forced replacement for the collapsed Fabi, itself collapsed within months under hyperinflationary pressure measured in the thousands of percent. This note was issued into that environment — not as a functioning medium of exchange in any stable sense, but as part of a currency regime that was already disintegrating as the presses ran.
Chung Hwa Book Co. was one of the few major Shanghai printers still operational as the People's Liberation Army closed on the city, which fell in May 1949. Notes from this late Nationalist series were often abandoned in bulk rather than distributed, and survivors turn up in original bundles.