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Printed in reddish-brown tones, the obverse centres on an oval intaglio portrait vignette of Sun Yat-sen set within a decorative frame. The issuer's name in Chinese characters (台灣銀行) appears across the upper portion, while the denomination in Chinese (伍角) is displayed in a cartouche below the portrait. The characters 金門 appear twice flanking the central design, indicating this note's specific circulation for Kinmen (Quemoy), with additional Chinese text at the foot noting the Republic of China year 39 (民國三十九年印). |
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The reverse, also in reddish-brown, presents a central vignette of a grand European-style bank building set against a lightly rendered sky with clouds, surrounded by an elaborate geometric and floral border. The inscription BANK OF TAIWAN arches across the upper register in bold serif lettering, and the denomination FIFTY CENTS appears in an ornate cartouche at the foot of the central frame. The characters 金門 are repeated on either side, reaffirming the Kinmen restricted-circulation status, with the numeral 50 repeated in each corner. |
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The Bank of Taiwan was reconstituted as a provincial institution under the Republic of China government following the 1945 handover from Japan, but its real test came with the massive influx of mainlanders after 1949. The hyperinflationary collapse of the Old Taiwan Dollar — which had reached exchange rates in the millions against the Shanghai yuan — forced the June 1949 currency reform that introduced the New Taiwan Dollar at 40,000:1. This 50-cent fractional note belongs to the stabilization issues that followed, small denominations needed once the new currency actually had to function in daily commerce.
The Central Engraving and Printing Plant had relocated to Taiwan from the mainland, bringing its equipment and staff across the strait in the chaos of late 1949.