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50 Cents
| Issuer | Federal Reserve Bank of China |
|---|---|
| Year | 1938 |
| Type | Log in to see details |
| Value | 5 Jiao = 50 Cents (0.5) |
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| Composition | Log in to see details |
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| Engraver(s) | Log in to see details |
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| Obverse description | Orange note with a dragon vignette positioned at right. Red serial numbers appear on the face. The overall design is executed in a single-colour letterpress style typical of wartime emergency issues. |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Orange uniface reverse with the denomination value and issuing authority inscriptions arranged in a plain typographic layout. |
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| Comments |
The Federal Reserve Bank of China was a Japanese-sponsored institution established in 1938 to manage currency in the occupied territories of northern China. It was not a successor to any Republican-era central bank — it was a tool of the occupation, created to displace Nationalist currency and extract economic control from areas under Japanese military administration.
The Bureau of Engraving and Printing in Peking operated under Japanese oversight during this period. Notes from the 1938 inaugural series, including this 50 Cents, entered circulation almost immediately after the bank's March founding.