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10 000 yuan 1947

Asia › China
P-320c1947Central Bank of ChinaPMG 67 EPQ(UNC)
10 000 yuan 1947 from China, P-320c (1947) — image 1
10 000 yuan 1947 from China, P-320c (1947) — image 2

Market Prices

4 sales
Catalogue (2016)
VG$1.25
VF$5
UNC$20
VF$11.52025-02-03(5 bids)
F$1.992020-09-10(2 bids)
UNC$137.612013-03-20(16 bids)
VF$1.552010-01-03

About This Note

A stunning example of the Central Bank of China's 1947 10,000 Yuan note (Pick 320c) in PMG 67 EPQ condition, representing the final years of the Republic of China's currency before the communist takeover. The note exhibits exceptional paper quality with no signs of wear, circulation, or deterioration, featuring intricate blue-violet engraving on both sides with ornate decorative borders, a portrait in an oval frame on the obverse, and a prominent central medallion on the reverse. This high-grade specimen represents a significant piece of 20th-century Chinese monetary history during a period of extreme inflation and political transition.

Rarity

Common. While the 1947 10,000 Yuan note represents the final period of Republic of China currency before political transition, market data clearly indicates this is a common denomination. eBay sales history shows multiple transactions from $1.55 to $137.61, with 2016 catalog values ranging from $1.25 (VG) to $20 (UNC). The typical catalog values for circulated examples ($1-5) and even uncirculated specimens ($20) indicate substantial production runs. The availability of this note in multiple grades across decades of sales history confirms it was produced in quantities sufficient to ensure general availability to collectors today.

Historical Context

Issued in 1947, this banknote represents the Central Bank of China's final years of operation before the Communist Revolution of 1949. The note was produced during the hyperinflation period of the late Chinese Civil War, when denominations reached astronomical levels as the Nationalist government attempted to finance military operations. The dating as 'Year 36 of the Republic of China' (corresponding to 1947 in the Western calendar) and the portrait imagery reflect the Republic of China's institutional continuity during this tumultuous period.

Design

The obverse features a formal portrait of a distinguished gentleman in an oval ornamental frame positioned at the lower left, rendered in fine engraved lines with dark blue coloring. The portrait is characteristic of 1940s Chinese governmental currency design. A large red/pink ornamental cartouche dominates the center-right of the obverse, containing denomination and issuer information in Chinese characters. The reverse displays an elaborate lace-like decorative pattern with floral and geometric elements forming an intricate border, with denomination numerals '10000' positioned in all four corners and a central oval medallion serving as the design's focal point. Both sides employ the deep blue-violet color scheme noted in catalog references, with cream and off-white paper stock.

Inscriptions

Front Side: 中央銀行 (Central Bank); 壹萬圓 (10,000 Yuan); 中華民國三十六年 (Year 36 of the Republic of China / 1947); Serial number: UU890625 (appears twice in red). Back Side: 壹萬圓 (10,000 Yuan in characters); Multiple instances of '10000' in Arabic numerals appearing in all four corners; Central medallion contains decorative Chinese characters within an ornamental oval frame.

Printing Technique

Intaglio engraving (gravure printing), the standard security printing technique for high-denomination currency of this era. The fine line work, intricate border patterns, and sharp detail visible throughout the note indicate professional engraving plates. The printer designation 'CHB' (Chinese Printer notation) and reference to '8 characters' for the printer mark on the reverse align with Central Bank of China's established security printing practices. Multiple color printing (blue-violet primary with red accents for serial numbers and ornamental elements) was applied in registration.

Varieties

Pick 320c designation confirms this as variety 'c' of the 10,000 Yuan 1947 issue. The serial number UU890625 with the prefix 'UU' represents one documented serial number sequence for this variety. The printer marking 'CHB' is documented for this Pick number. No overprints, signature variations, or other sub-varieties are evident from the visual analysis. The note represents a standard printing from the regular issue series with no identified errors or emergency variants.