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200 Yuan Central Bank of China

Issuer Central Bank of China
Year 1944
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Shape Rectangular
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Obverse lettering 中央銀行
貳百圓
中華民國三十三年印
(Translation: Central Bank of China / Two Hundred Yuan / Printed in the 33rd year of the Republic of China)
Reverse description The reverse is printed in orange-brown and composed entirely of interlocking guilloche patterns arranged in an elaborate symmetrical design. The denomination 貳百圓 appears in Chinese characters within a central cartouche, while the numeral 200 is repeated in each of the four corners. Signature panels are incorporated into the guilloche framework at left and right of centre.
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Comments

The Central Bank of China Printing Works had been operating under severe wartime constraints by 1944, relocated and fragmented after Japanese forces drove the Nationalist government inland to Chongqing. Output quality across the 1943–45 series varied considerably depending on which plant — Chongqing, Chengdu, or a subsidiary facility — handled a given print run, and P#262 exists in multiple printing variations reflecting exactly that inconsistency.

China's wartime inflation was already accelerating badly by mid-1944; a 200 Yuan note, substantial in 1940, had lost most of its purchasing power before many of these even reached circulation.

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