50 Yuan

By mid-1948, the Nationalist government's finances were in terminal collapse. The Central Bank had been printing at a pace that made individual denominations obsolete within weeks of issue, and the 50 Yuan note was effectively a transitional stopgap — the Gold Yuan reform that August would render the entire existing paper currency worthless, converting at a rate of three million old Yuan to one Gold Yuan.

De La Rue's London production was standard practice for Nationalist-era high-denomination issues, though the logistical absurdity of shipping currency from England to a country mid-collapse was not lost on contemporaries.