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50 Yuan Bank of Pei Hai
| Issuer | Bank of Pei Hai |
|---|---|
| Year | 1945 |
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| Currency | Yuan (1914-1949) |
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| Obverse description | Printed in red-orange. Left vignette shows a military bugler and two figures in a patriotic composition; right vignette presents an agricultural scene with workers in the field. Central guilloche medallion bears the denomination 伍拾圓 (50 Yuan). Bank name 北海銀行 appears at top, with 山東 at upper right and the date 中民國三十四年 (Year 34 of the Republic, 1945) at lower center. Two seal impressions flank the central medallion. |
|---|---|
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| Reverse lettering | 50 1945 |
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| Comments |
The Bank of Pei Hai (北海银行) was established in 1938 as the financial institution of the Shandong-based Communist guerrilla administration, operating in territory that shifted constantly between Japanese occupation and CCP control. By 1945, it had absorbed several smaller regional banks and was issuing currency across the Bohai coastal zone and parts of Hebei and Shandong — areas where Japanese, Nationalist, and Communist currencies competed simultaneously, often at gunpoint.
Notes of this period from Pei Hai are frequently encountered with heavy use, ink transfer, and fold damage. Wartime paper quality was inconsistent, and high-denomination issues like this one circulated hard in military logistics and grain procurement.