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5 Chiao / 50 Cents Bank of Shangtong
| Issuer | Bank of Shangtong |
|---|---|
| Year | 27 (1938) |
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| Shape | Rectangular |
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|---|---|
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| Reverse description | Printed in purple-brown on a fine guilloche underprint. A central oval vignette contains a sailing junk on open water. The denomination numerals "50" appear in ornamental cartouches at left and right, with "FIFTY CENTS" and the date "1938" in a scroll banner below, surmounted by "BANK OF SHANGTONG" across the top. |
| Reverse lettering | 5 - 5 BANK OF SHANGTONG 50 - 50 FIFTY CENTS 1938 5 - 5 |
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| Comments |
The Bank of Shangtong was a provincial institution operating under the Japanese-sponsored government of Shandong, established after the occupation of the region in 1937. Notes like this one were instruments of wartime monetary reorganization — issued to displace Nationalist currency and stabilize purchasing power under occupation authority. The year designation follows the Republic of China calendar, a convention the collaborationist administration retained despite its political implications.
Shangtong-series fractional notes of this period are frequently encountered with heavy rural circulation wear, consistent with use in market trade rather than institutional exchange.