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500 Yuan Bank of Pei Hai

Issuer Bank of Pei Hai
Year 1947
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Currency Yuan (1946-1949)
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Obverse lettering 北海銀行
伍百圓
山東
中華民國三十六年印
Reverse description Printed in brown, the reverse is dominated by a large central guilloche oval enclosing the bold numeral 500, surrounded by intricate lathe-work patterns and geometric borders. The four corners each bear the numeral 500 within ornamental frames, and the year 1947 is inscribed at the base of the central vignette.
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Comments

The Bank of Pei Hai was a Communist-administered regional bank operating in the Shandong-Bohai border region, and its notes circulated in territory actively contested during the Chinese Civil War. By 1947 the Communists were consolidating financial administration across their northern base areas, and Pei Hai notes functioned as working currency in liberated zones — not symbolic instruments, but tools of real economic control in areas where Nationalist currency was actively suppressed.

The S-prefix in the Pick reference places this squarely among the specialized Chinese regional issues, a category notorious for attribution difficulties given overlapping print runs and inconsistent surviving documentation from wartime presses.

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