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5 Yuan Central Bank of China
| Issuer | Central Bank of China |
|---|---|
| Year | 1945 |
| Type | Log in to see details |
| Value | Log in to see details |
| Currency | Yuan (1945-1948) |
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| Engraver(s) | Log in to see details |
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|---|---|
| Obverse lettering | 行銀央中 券通流省九北東 圓伍 印年四十三國民華中 廠海上廠製印央中 (Translation: Central Bank of China Circulation Notes in Northeastern 9 Provinces Five Yuan Printed in the 34th year of the Republic of China Central Engraving and Printing Plant, Shanghai Factory) |
| Reverse description | The reverse is printed entirely in red on a plain light ground, dominated by an elaborate guilloche border enclosing a central panel with the denomination 伍圓 (Five Yuan) in large Chinese characters. Numeral 5 devices appear at each side within the decorative framework, and two columns of Chinese text are present at the left and right margins within the border. |
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| Comments |
The Central Bank of China issued this note in 1945, a year in which the institution was simultaneously trying to finance the Nationalist war effort against Japan and manage an inflation rate that was already beginning to spiral beyond any realistic policy response. The Central Engraving and Printing Plant's Shanghai Factory — operating under extraordinary wartime pressure — was producing notes in enormous quantities during this period, and the 5 Yuan denomination became increasingly marginal in practical purchasing power almost from the moment of issue.
By 1948, the full Nationalist currency system collapsed into hyperinflation and was replaced by the Gold Yuan. Most circulating paper from this period was rendered worthless within three years of printing.