5000 Yuan 5th issue

The fifth series of People's Bank of China notes issued between 1949 and 1951 represented the final consolidation of the Communist monetary system following the civil war. This 5000 Yuan denomination sits at the high end of that series, a practical necessity given the catastrophic inflation inherited from the Nationalist government's printing excesses — by 1949, the old Nationalist fabi had become essentially worthless, and even the new Renminbi required large-denomination notes to handle everyday transactions.

The 1955 currency reform replaced the entire first-issue Renminbi at a rate of 10,000 old yuan to 1 new yuan, rendering this note obsolete within four years of issue. Surviving circulated examples frequently show heavy fold wear consistent with active use in that compressed window.