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500 Yuan Bank of Pei Hai
| Issuer | Bank of Pei Hai |
|---|---|
| Year | 1948 |
| Type | Local banknote |
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|---|---|
| Obverse lettering | 北海銀行 伍百圓 中華民國三十七年印 |
| Reverse description | Printed entirely in red-brown, the reverse centres on a large bold numeral 500 set within an elaborate guilloche rosette medallion, surrounded by a symmetric lathe-work frame with the denomination numeral 500 repeated in each corner. A rectangular cartouche at the lower centre carries the year 1948. |
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| Comments |
The Bank of Pei Hai (北海银行) was the currency-issuing arm of the Shandong-Jiangsu liberated zone administered by the Chinese Communist Party, operating from 1938 through the broader monetary consolidation that accompanied the establishment of the People's Bank of China in late 1948. Notes from this institution circulated across guerrilla-held and transitional territories where supply chains were erratic and printing facilities often improvised — quality and consistency varied sharply across the series as a result.
By 1948, Pei Hai issues were being systematically withdrawn and converted into the new renminbi at fixed exchange rates, meaning high-denomination notes like this 500 Yuan saw very short active circulation windows before redemption. Survivors owe their existence largely to that abrupt transition rather than to careful preservation.