50 Yuan Bank of Pei Hai

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正面铭文	北海銀行伍拾圓膠東中華民國三十四年甲
背面描述	Purple-brown letterpress print with a bold guilloche rosette at centre enclosing the numeral 50. The denomination FIFTY YUAN is printed in large Latin block letters across the face, with the romanised bank name BOXAI INXANG at top and regional designation GIAO DUNG at the foot, flanked by corner numeral 50 repeaters and the date 1945 at the bottom centre.
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备注	The Bank of Pei Hai was a Communist-administered regional bank operating in the Shandong-Jiaodong border base area, and its notes circulated in direct competition with both Japanese military scrip and Nationalist currency during the final years of the war. The 1945 issues were part of a deliberate economic strategy — flooding liberated zones with stable local currency to displace occupation money and undermine Nationalist financial authority simultaneously. Pei Hai notes from this period are notoriously variable in print quality, reflecting decentralized production under wartime conditions. The S-prefix in the Pick reference places it among regional Chinese issues, and survivors tend to show hard use.

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