5 Chiao / 50 Cents Beei Hai Bank; blue

正面描述	登录以查看详情
正面铭文	伍 - 伍角 - 角行銀海北中華民國二十七年印角伍圓壹幣國兌角拾每劵幣輔此角伍 - 角伍 (Translation: 5 Chiao - 5 Chiao Bank of Pei Hai Printed in Year 27 of the Republic of China 5 Chiao This currency voucher, for every 10 Chiao, can be exchanged for 1 Yuan national currency 5 Chiao - 5 Chiao)
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背面铭文	50 - 50 BEEI HAI BANK 50 FIFTY CENTS 50 - 50
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备注	Pei Hai Bank was established in 1938 by the Shandong-Jiangsu Border Region government — one of several Communist-controlled base area banks operating behind Japanese lines. Its notes circulated as regional currency within guerrilla-held territory, deliberately kept separate from both the Nationalist fabi and Japanese-sponsored puppet bank issues. The practical function of these early notes was as much political as monetary: a tangible assertion of administrative authority in contested terrain. The 1938 issues are the earliest from this issuer and survive in small numbers. Base area notes of this period were printed under difficult conditions and often on whatever paper stock was available, which affects consistency across surviving examples.

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