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250 Yuan Maojgungs Liutungkyan

Issuer Shaanxi-Gansu-Ningxia Border Area Trade Company (貿易公司)
Year 1945
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Shape Rectangular
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Obverse lettering 陝甘寧邊區貿易公司業商流通券
兩百伍拾圓
B155103
中華民國三十四年
Reverse description Vertical format printed in brown. The note is dominated by a lengthy block of Chinese text arranged in vertical columns setting out the conditions of issue and exchange regulations applicable within the Shaanxi-Gansu-Ningxia Border Area. The denomination numeral 250 appears in all four corners within decorative cartouches, and a fine guilloche border frames the entire face.
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Comments

The Shaanxi-Gansu-Ningxia Border Area — the Communist-controlled zone centered on Yan'an — operated its own parallel financial system throughout the Sino-Japanese War, issuing currency through regional cooperatives and trade bodies rather than a single central bank. The Trade Company notes of 1945 were part of that patchwork, designed to facilitate commerce within border region markets while keeping Nationalist-issued fabi and later gold yuan certificates out of circulation in Communist-held territory.

Pick S3640 is among the less-documented issues from this period. Border area printing facilities were rudimentary, and paper quality and impression consistency varied considerably across the 1945 issues — something to examine closely on any example.

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