1 gold yuan 1948

Common. The eBay price history shows consistent sales across a wide range of grades from $1.91 to $161.38, with numerous examples appearing regularly on the market. Even high-grade examples (PMG 66-67) sell for $70-$160, indicating strong availability. The 2016 catalogue values ($0.6-$10) and steady transaction volume confirm this is a regularly available note without scarcity in the secondary market.

Issued during the final years of the Republic of China before the Communist takeover, this note represents the Central Bank's attempt to stabilize currency through gold-backed denominations. The military officer portrayed reflects the Nationalist government's authority, while the pagoda landscape on the reverse symbolizes traditional Chinese cultural heritage—imagery meant to reinforce stability and national continuity during a turbulent period of Chinese history.

The obverse features a left-facing portrait of Chiang Kai-shek (or a military officer representative of Nationalist authority) in formal military dress uniform with cap and shoulder insignia, centered within ornate decorative cartouches and floral medallions in the four corners. Cloud motifs and geometric patterns form the border design. The reverse displays a classical Chinese pagoda temple structure situated on a hillside overlooking water with surrounding architectural elements, framed by elaborate rosette and fan-shaped ornaments in the corners, with official signature lines for the Governor and General Manager.

OBVERSE: 中央銀行 (Central Bank), 壹圓 (One Yuan), Serial number LG106862 (printed twice in red). REVERSE: THE CENTRAL BANK OF CHINA, ONE YUAN, 1945 (issue date), GOVERNOR, GENERAL MANAGER, AMERICAN BANK NOTE COMPANY.

Intaglio engraving (recess printing) executed by the American Bank Note Company, a leading security printer. The note employs multi-color printing with blue and red inks on the obverse and blue on the reverse, with fine line work, ornamental flourishes, and intricate detail characteristic of high-security banknote production of the 1940s era.

This example carries serial number LG106862 and is printed with dual red serial numbers on the obverse, typical of standard circulation examples. The note is dated 1945 (issue date) though catalogued as 1948 in some references (likely reflecting usage or distribution date). The ABNC printer mark is noted on the reverse. No overprints or significant varieties are evident from the visual analysis; this appears to be a standard regular issue note from the normal production run.