50 Yuan Bank of Pei Hai

The Bank of Pei Hai (北海银行) was a Communist Party financial institution operating in the Shandong-based Bohai region during the civil conflict against both Japanese forces and Nationalist troops. Notes from this bank circulated in liberated base areas — zones under CCP control where Nationalist currency was actively suppressed and replaced with regional issue paper. The 1945 date places this squarely in the final year of Japanese occupation, when the base area banking network was expanding rapidly to fund military and administrative operations.

Pick S3587B denotes a variant within the series, though the specific differentiating characteristic — whether paper stock, serial format, or block letter — is not always consistently documented across major references.