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| 正面描述 | Dark green intaglio print on tan-orange guilloche underprint. Central vignette shows a terraced hill with a fortified summit amid a sweeping landscape, flanked by two circular denomination cartouches reading 伍拾圓. Atlas-like figures stand at each lateral border, with 山東 inscribed at their sides and two red official seals at lower centre. |
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| 背面铭文 | BANK OF PEI HAI SHAN DUNG 1945 50 |
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The Bank of Pei Hai was a Communist-controlled regional bank operating in the Shandong-Bohai base area, and its notes circulated in direct competition with both Japanese military yen and Nationalist currency during the final years of the Second Sino-Japanese War. Maintaining any functional monetary system in an active guerrilla zone required constant improvisation — printing locations shifted, paper quality was inconsistent, and denominations were issued in response to immediate logistical needs rather than any coherent monetary policy.
The S3586B suffix designation indicates a distinct variety within the 1945 fifty-yuan issue, most likely differentiated by printer, ink color, or block character. These regional Communist bank notes were produced under conditions that make precise attribution genuinely difficult, and catalog varieties frequently reflect local printing decisions that left no documentary trail.