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50 Yuan Bank of Pei Hai
| Issuer | Bank of Pei Hai (北海银行) |
|---|---|
| Year | 1945 |
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| Value | 50 Yuan |
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| Obverse description | Printed in dark grey-green with yellow-orange guilloche underprint. The central vignette presents a dramatic landscape of terraced hillside fields rising toward a mountain summit crowned by a pagoda or tower, rendered in fine intaglio line work. Two circular denomination medallions inscribed 伍拾圓 flank the central scene, with standing male figures at each lateral border; the bank title 北海銀行 appears at top centre, two red seal impressions are affixed at lower centre, and the inscription 中華民國三十四年印 runs along the bottom margin. |
|---|---|
| Obverse lettering | 北海銀行 伍拾圓 山東 中華民國三十四年印 |
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| Comments |
The Bank of Pei Hai was a Communist Party-controlled regional bank operating in the Shandong-Bohai base area, issuing currency that competed directly with Japanese military yen and puppet Manchukuo notes for acceptance among rural populations. By 1945 the bank had been functioning for several years under wartime guerrilla conditions, meaning printing quality and paper stock varied considerably depending on which local facility handled a given run — the suffix letters distinguishing S3587b from S3587c almost certainly reflect exactly that kind of production variation rather than any policy change.
Notes from Shandong base area banks were frequently counterfeited by Japanese occupation authorities as an economic warfare measure, complicating authentication of surviving examples today.