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500 Yuan Bank of Pei Hai
| Issuer | Bank of Pei Hai |
|---|---|
| Year | 1947 |
| Type | Local banknote |
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| Obverse description | Brown on yellow underprint. Central vignette depicts a rural rice-planting scene at right, with figures working in flooded paddy fields extending to the horizon. The bank name 北海銀行 is inscribed at top centre in Chinese characters, the denomination 伍百圓 appears in a central star-shaped guilloche panel, and two red seal impressions are visible at bottom centre flanking the Republic of China date inscription; serial number in brown at upper right. |
|---|---|
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| Reverse description | Blue-green letterpress print. The note is dominated by a large central circular guilloche medallion bearing the numeral 500, surrounded by intricate lathe-work and floral ornamental scrollwork filling the entire field. The denomination numeral 500 is repeated in each of the four corners within decorative frames, and the year 1947 is printed in a banner at the base of the central medallion. |
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| Comments |
The Bank of Pei Hai (北海银行) was established in 1938 by the Shandong-based communist resistance administration and functioned as the financial backbone of liberated zones during the civil war period. By 1947, with Nationalist forces actively contesting the same territories, Pei Hai notes were legal tender in some areas one week and worthless the next, depending on who held the ground.
The S-prefix in the Pick reference places this firmly in the regional and provisional issues — not a central communist authority note, but a locally administered one. Inflation in the liberated zones ran hard in 1947, which explains the 500-yuan face value on what was still a relatively young issuing institution.