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500 Customs Gold Units

Issuer Central Bank of China
Year 1947
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Currency Customs Gold Unit (1930-1948)
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Reverse description The reverse is printed vertically in blue intaglio and carries a large architectural vignette of the Central Bank of China's Shanghai headquarters, a multi-storey neoclassical building with a prominent clock tower, rendered in fine line engraving. Below the building vignette the promise-to-pay text is set within a scrollwork panel, beneath which a large guilloche numeral '500' is flanked by ornate rosettes with the denomination 'FIVE HUNDRED CUSTOMS GOLD UNITS' in a banner; two facsimile signatures of the General Manager and Assistant General Manager appear above the imprint line 'SHANGHAI, 1947' and 'AMERICAN BANK NOTE COMPANY' at the foot.
Reverse lettering THE CENTRAL BANK OF CHINA
PROMISES TO PAY THE BEARER ON DEMAND AT ITS OFFICE HERE
FIVE HUNDRED CUSTOMS GOLD UNITS
SHANGHAI, 1947
AMERICAN BANK NOTE COMPANY
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Comments

The Customs Gold Unit was introduced in 1930 as a notional accounting currency pegged to gold, used specifically to denominate import duties — it was never intended as everyday circulating money. By 1947, when this note was printed, that fiction had long collapsed. The CGU had been dragged into general circulation as hyperinflation destroyed the Fabi and the government scrambled for any denomination that looked stable.

American Bank Note Company continued supplying the Nationalist government through the late 1940s even as the political situation deteriorated rapidly. This 500-unit note was obsolete almost from the moment it arrived in China.

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