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500 Yuan
| Issuer | Federal Reserve Bank of China |
|---|---|
| Year | 1945 |
| Type | Standard circulation banknote |
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|---|---|
| Obverse lettering | 中國聯合準備銀行 伍百圓 (Translation: Federal Reserve Bank of China 500 Yuan) |
| Reverse description | Printed in dark brown on plain paper, the reverse is entirely composed of intricate guilloche lacework filling the central field, with two large symmetrical rosette medallions at left and right. The numeral «500» appears in bold outline lettering at centre, and the bank title in Chinese characters is set along the lower margin within the decorative border. A small circular emblem is positioned at the top centre above the guilloche field. |
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| Comments |
The Federal Reserve Bank of China was a Japanese-sponsored institution operating in occupied North China, established in 1938 under the Wang Kemin collaborationist regime. Its currency circulated alongside — and was ultimately designed to displace — the Nationalist fabi, with exchange rates manipulated to systematically drain silver and hard currency from the occupied population. By 1945 the bank was issuing high-denomination notes at an accelerating pace, a direct reflection of wartime inflation rather than any genuine expansion of commerce.
Pick J90 belongs to the final phase of that collapse. Japan's surrender in August 1945 rendered the entire Federal Reserve Bank note series worthless within weeks.