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5 Yuan
| Issuer | People's Bank of China |
|---|---|
| Year | 1949 |
| Type | Log in to see details |
| Value | 5 Yuan |
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| Composition | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | 行銀民人國中 圓伍 年八十三國民華中 (Translation: People's Bank of China Five Yuan Year 38 of the Chinese Republic) |
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| Reverse lettering | 行銀民人國中 伍 1949 (Translation: People's Bank of China Five) |
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| Comments |
This note belongs to the first series (第一套人民币) issued by the People's Bank of China, established just months earlier in December 1948 as the Communist Party consolidated military control over the mainland. The first series was printed under severe wartime conditions across multiple facilities — quality and paper stock vary considerably between print runs, and this 5 Yuan denomination was produced in several distinct variants distinguishable by minor typographic and color differences.
Inflation had already rendered Nationalist currency nearly worthless by 1949, which meant these early PRC notes entered circulation into an economy psychologically desperate for stable paper money. The entire first series was withdrawn by 1955 when the second series launched at a conversion rate of 10,000 old Yuan to 1 new Yuan.