5 Jiao / 50 Cents

正面描述	Portrait of Chiang Kai-shek in military uniform occupies the right portion of the note within an oval frame, set against a finely engraved guilloche background. The denomination 伍角 appears in large Chinese characters at centre-left, with an ornate oval underprint vignette to its left. The bank title 中央銀行 is printed in Chinese characters across the top, with red serial numbers and prefix block letters at upper left and upper right.
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背面铭文	THE CENTRAL BANK OF CHINA FIFTY CENTS 50 50 50 50 1948 SECURITY BANKNOTE COMPANY
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备注	By mid-1948 the Central Bank of China was printing currency at a pace the domestic presses could not sustain. SBNC in Philadelphia was one of several American contractors drawn into that frantic production run, though the precise contract dates remain unclear — hence the query in the catalog record. The engagement was short-lived regardless; the gold yuan reform of August 1948 swept most of the fa bi series into obsolescence within weeks of issue. Hyperinflation had already made small-denomination notes economically meaningless before many reached the counter. Unissued remainders from American-printed runs are consequently more common in collections than genuinely circulated examples.

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