1 yuan 1949
Market Prices
About This Note
This is a VF-grade 1 Yuan note from the Hainan Bank issued in 1949, displaying vibrant burgundy and green coloring with sharp, clear printing throughout. The obverse features a formal portrait of a male figure in traditional Chinese dress within an ornate frame, while the reverse showcases a tropical landscape with palm trees and coastal scenery characteristic of Hainan's geography. The note exhibits excellent condition with no significant wear, creasing, or foxing, making it an attractive example of early PRC-era regional currency.
Common. The eBay market data shows numerous sales of this Pick number at prices ranging from $8.50 to $42.46 USD in UNC condition, with a VF example listed at $10.00 USD. This pricing pattern and frequency of listings indicate ready availability in the secondary market. While the Hainan Bank's brief operational period (1949) might suggest rarity, the consistent supply of examples at modest prices indicates that sufficient quantities were printed and have survived to make this a common collectible rather than a scarce note.
The Hainan Bank operated during the transitional period of 1949 when the People's Republic of China was establishing itself, and regional banks still issued currency before centralization under the People's Bank of China. The tropical landscape depicted on the reverse—featuring palm trees, mountains, and coastal waters—reflects Hainan's strategic importance as a southern island territory during this politically volatile period. This note represents a brief window when local banking authorities maintained independent note-issuing privileges, making it historically significant as a transitional currency artifact.
The obverse features a formal male portrait in traditional Chinese styling, positioned within an ornate rectangular frame on the left side of the note. The portrait subject appears to be a significant political or historical figure of the period, rendered in fine engraved detail. The background employs a light green underprint with burgundy/maroon decorative elements, including ornate scrollwork, floral designs, and repeated square-framed characters at the corners serving as security ornamentation. The reverse depicts a panoramic tropical landscape scene characteristic of Hainan Island, including prominent palm trees, a mountainous backdrop, and coastal or harbor waters, all rendered in burgundy tones on a cream background. The design includes decorative corner numerals (1) and red rectangular official seal stamps positioned on left and right sides, providing both decorative and authenticating elements. The note's bilingual presentation (Chinese and English) reflects the cosmopolitan currency standards of the post-war period.
FRONT: 海南銀行 (Hainan Bank) | 壹圓 (One Yuan) | 中華民國三十二年 (Year 32 of the Republic of China, corresponding to 1943 in the ROC calendar but issued in 1949) | 現兌 (Current Exchange/Redeemable on Demand) | Serial number: 698168. BACK: THE HAINAN BANK (English text, top banner) | ONE YUAN (English denomination) | 1 (corner denomination indicators, four locations) | 1949 (year) | LITHO BY THE HONGKONG PRINTING PRESS (1946) LTD (printer attribution) | Red seal stamps with Chinese characters (official seals, specific characters not fully legible in image)
Lithography (confirmed by the printer's imprint 'LITHO BY THE HONGKONG PRINTING PRESS (1946) LTD'). The visual analysis shows characteristics consistent with fine lithographic work: detailed line work throughout, complex decorative patterns, vibrant multi-color printing (burgundy, green, red, cream), and smooth tonal gradations in the landscape scene. The HKPA (Hongkong Printing Press & Accessories Ltd) printer mark visible in the catalog reference confirms professional security printing of the era.
The observed serial number is 698168. This note represents the standard S/M #H3-10 variety as referenced in the catalog data. No overprints, signature variations, or other distinguishing varieties are evident in the visual analysis. The Pick catalog notes only one variant for P-S1457, confirming this as the standard issue type with no known major varieties for this denomination and issuer.
