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5000 Yuan Central Bank of China

Issuer Central Bank of China
Year 1947
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Printer Central Bank of China Printing Works
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Obverse description Portrait of Sun Yat-sen at left, set against an orange, green and blue multicolour design with a dark lilac guilloche on gold underprint. Coin vignettes are arranged to the right, flanking and behind the denomination numeral. Red serial numbers and bank seals appear on the face.
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Reverse description Central vignette presents an elevated perspective of the Sun Yat-sen Mausoleum in Nanjing, with its monumental stairway and ceremonial gateway set against a hillside backdrop, rendered in dark lilac intaglio. Large Chinese characters reading 伍仟圓 are set within ornate guilloche cartouches on both the left and right flanks, and the numeral 5000 appears in a panel at the bottom centre. Signature titles with manuscript signatures of the Director and Deputy Director of the printing bureau are inscribed to either side of the central vignette.
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By 1947, the Central Bank of China was printing notes in denominations that would have been unthinkable five years earlier. This 5,000 Yuan issue appeared as Nationalist-controlled inflation was accelerating toward its terminal phase — within eighteen months, the government would introduce the Gold Yuan reform, lopping zeros off a currency that had lost virtually all public confidence. The Printing Works was running multiple presses continuously, and quality control across the series is visibly inconsistent.

P#311 is common in high grades precisely because so many were printed and so few were spent before becoming worthless.

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