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5000 Yuan

Issuer Central Bank of China
Year 1949
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Composition Paper
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Obverse description Portrait of Chiang Kai-shek in military uniform occupies the right portion of the note, rendered in intaglio against a red guilloche underprint. The denomination is expressed in large Chinese characters across the central panel, flanked by ornate floral vignettes, with the bank title inscribed in Chinese characters along the top margin. Serial numbers appear in two positions within the upper field.
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Reverse lettering THE CENTRAL BANK OF CHINA
FIVE THOUSAND GOLD YUAN
1949
CHUNG HWA BOOK CO., LTD.
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Comments

By early 1949, the Gold Yuan — introduced just months prior in August 1948 as a hard replacement for the collapsing Fabi — was itself in freefall. The Central Bank was issuing notes in denominations that would have been unthinkable at the reform's launch, and this 5,000 Yuan piece is a direct artifact of that acceleration. Chung Hwa Book Co. was one of several Shanghai printers pressed into service as the government scrambled to keep denominations ahead of prices.

Communist forces entered Shanghai in May 1949. Any notes still in circulation became worthless almost immediately after.

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