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50 Yuan / Dollars Central Bank of China

Issuer Central Bank of China
Year 1928
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Value 50 Yuan = 50 Dollars
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Reverse description The reverse is printed in dark blue-grey intaglio on a light ground, with an intaglio portrait of Sun Yat-sen set within a fine engine-turned oval medallion at centre. Large numeral 50 counters appear to the left and right of the portrait, surrounded by intricate guilloche lathe-work panels. Two facsimile signatures appear below the portrait — Asst. Manager at left and General Manager at right — with the denomination tablet FIFTY DOLLARS NATIONAL CURRENCY and the branch designation CHUNGKING 1928 centred below.
Reverse lettering THE CENTRAL BANK OF CHINA PROMISES TO PAY THE BEARER ON DEMAND AT ITS OFFICE HERE FIFTY DOLLARS NATIONAL CURRENCY. CHUNGKING 1928 AMERICAN BANK NOTE COMPANY.
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The Central Bank of China was formally established in 1928 under the Nationalist government, and this 50 Yuan note belongs to that inaugural emission — one of the first issues carrying the new institution's name as Chiang Kai-shek's administration attempted to consolidate financial authority across a deeply fractured country. The American Bank Note Company's involvement was a deliberate signal of credibility; foreign-printed currency carried implicit guarantees of quality that domestic printing could not yet offer to a skeptical public.

P#198 is notably scarce in any grade, likely a reflection of limited original distribution rather than heavy circulation losses.

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