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50 Yuan
| Issuer | Central Bank of China |
|---|---|
| Year | 1948 |
| Type | Standard circulation banknote |
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| Obverse description | Portrait of Chiang Kai-shek in military uniform at right, rendered in intaglio engraving against a finely executed guilloche underprint in purple and blue tones. The denomination 伍拾圓 appears in large Chinese characters at centre, flanked by ornate scrollwork vignettes and corner rosettes. Two red seal stamps appear at lower centre, with the issuing authority 中央銀行 inscribed across the top of the note. |
|---|---|
| Obverse lettering | 中央銀行 伍拾圓 中央印製廠 CH 308527 |
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| Comments |
By mid-1948, the Central Bank of China was printing currency faster than it could be distributed. This 50 Yuan note was already functionally obsolete within weeks of issue — the Gold Yuan reform of August 1948 replaced the Fabi at a rate of 3,000,000 old yuan to one Gold Yuan, rendering the entire late Fabi series worthless before most notes had meaningfully circulated.
The Central Engraving and Printing Plant had been relocated to Shanghai following the wartime disruptions, and by this period was running at maximum capacity across multiple denominations simultaneously. Survival in uncirculated condition is common precisely because so many were never spent.