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5 Yuan Bank of China

Issuer Bank of China
Year 1934
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Value 5 Yuan
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Obverse lettering 行銀國中 伍 圓 山 東 圓伍幣國付即票憑 印年三十二國民華中 司公鈔印羅納德
(Translation: Bank of China 5 Yuan Shantung Five yuan payable in national currency Printed in the 23rd year of the Republic of China Thomas De La Rue & Company Limited London)
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Reverse lettering BANK OF CHINA PROMISES TO PAY THE BEARER ON DEMAND AT ITS OFFICE HERE FIVE YUAN NATIONAL CURRENCY SHANTUNG FEBRUARY 1934 THOMAS DE LA RUE & COMPANY LIMITED LONDON
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The Bank of China's 1934 series was printed by De La Rue at a time when the Chinese government was navigating serious monetary instability — the silver standard was collapsing under deflationary pressure from global silver price movements, and the fabi currency reform that would abandon silver entirely was still a year away. These notes circulated under an increasingly strained system.

De La Rue's involvement with Chinese banking paper dates back decades, and their work for the Bank of China in this period is technically accomplished. P#72 is reasonably available in mid-grades; high-grade survivors are complicated by the humid storage conditions common to wartime and postwar Chinese banking archives.

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