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50 Yuan
| Issuer | People's Bank of China |
|---|---|
| Year | 1949 |
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| Value | 50 Yuan |
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| Obverse description | Vignette to the right portrays a steam roller in an industrial setting with factory chimneys in the background, rendered in fine intaglio line work. The central panel carries the denomination 伍拾圓 within a decorative guilloche frame, flanked on the left by a figure of a worker amid wheat sheaves. The bank name 中國人民銀行 appears at the top, with the Republican era date 中華民國三十八年 along the lower border; serial number and block characters appear in the upper portion. |
|---|---|
| Obverse lettering | 中國人民銀行 伍拾圓 中華民國三十八年 (Translation: People's Bank of China / Fifty Yuan / Year 38 of the Chinese Republic) |
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| Comments |
This note belongs to the First Series Renminbi (第一套人民币), a currency that was being printed and issued even as the Chinese Civil War was still being fought. The People's Bank of China was established on 1 December 1948, and the First Series began circulating almost immediately — a deliberate act of economic consolidation ahead of military victory, not after it.
First Series notes were printed under chaotic wartime conditions across multiple facilities, with significant variation in paper quality and print registration between batches. Many denominations are scarce simply because large quantities were withdrawn and destroyed during the currency reform of 1955, when the Second Series was introduced at an exchange rate of 10,000 old yuan to 1 new yuan.