100 yuan 1945

Common. The eBay price tracking data shows recent sales in the $7.99-$20.50 range for EF and VF grades, with catalog values (2016) listing EF at approximately $8-12. The relatively modest market prices, consistent selling activity, and lack of any indication of restricted print runs or short-lived issue suggest this is a common note. The relatively abundant availability in the numismatic market for a 1945 Chinese banknote indicates standard production volumes.

This note was issued during 1945 (Year 34 of the Republic of China) by the Central Bank of China under the Nationalist government, representing a period of significant currency instability as China faced the final stages of World War II and the subsequent Chinese Civil War. The portrait of Sun Yat-sen (founder of the Republic of China) reflects the Nationalist regime's legitimacy claims, while the traditional Chinese decorative motifs and calligraphy underscore national identity during a period of political turbulence. The fine-line engraving and formal design elements represent the Central Bank's attempt to maintain currency credibility amid economic challenges.

The obverse features a formal portrait of Sun Yat-sen, founder of the Republic of China, positioned in the lower left within an ornate oval frame with decorative ornamentation. The portrait depicts a dignified male figure with dark hair and mustache in formal attire, exemplifying the nationalist iconography of the period. Red seal marks (official chops) flank the portrait on either side. The note's borders incorporate traditional Chinese geometric patterns and wave motifs in all four corners with ornate cartouches. The denomination and issuer information are prominently displayed in the center-right within a decorative cartouche. The reverse showcases a large central ornate cartouche containing the denomination '壹百圓' and Arabic numeral '100', surrounded by decorative corner flourishes with geometric flower-like patterns and repeated border elements. The entire design employs fine-line engraving with complex background patterns as security measures.

Front side: '中央銀行' (Central Bank), '壹百圓' (One Hundred Yuan), '中華民國三十四年印' (Printed in the 34th year of the Republic of China [1945]), serial number 'BJ875359'. Back side: '壹百圓' (One Hundred Yuan), '100' (Arabic numeral denomination), with partial visible inscriptions '由' (by/from), '局長' (bureau chief/director), '長年' (long year), and '此' (this), likely part of longer official text on the reverse.

Intaglio engraving (line engraving) on letterpress, executed by Chinese printers. The visual characteristics—intricate fine-line patterns, complex geometric backgrounds, ornate cartouches, and sharp detail reproduction—are consistent with high-quality intaglio security printing methods standard for Central Bank of China notes of this period. The layered color application (blue on pale blue underprint) and precision of the decorative elements indicate professional security printing techniques.

The observed variety features serial number prefix 'BJ' with number 875359. This serial numbering system was standard for Central Bank of China notes of this period. No overprints, date variations, or signature varieties are apparent in the visual analysis. The note represents the standard regular issue of 1945 with no documented major varieties identified for Pick P-278.