100 yuan 1940
Market Prices
2 salesAbout This Note
This is a 1940 Bank of China 100 Yuan note (Pick P-88a) in EF condition, featuring an exceptional purple and multicolor design with fine engraved details throughout. The obverse displays a formal portrait in an oval frame on the left, while the reverse showcases a traditional multi-tiered pagoda architectural landmark, both executed with intricate line work typical of American Bank Note Company production. The note exhibits minimal wear with only light aging visible on the edges, making it a well-preserved example of this regular-issue denomination from the Republic of China period.
Common. The eBay price data provided shows this note type regularly appearing at modest valuations ($2.25 to $32 for VF grades), with 2016 catalog values of only $30 for VF and $115 for UNC, indicating steady but unspectacular collector demand. The note was a regular issue of the Bank of China with no recorded printing limitations or recall status, and it remains readily available in the collector market.
Issued during 1940 by the Bank of China under the Republic of China government (中華民國), this denomination reflects the wartime economic conditions of the Second Sino-Japanese War era. The Temple of Heaven pagoda depicted on the reverse symbolizes traditional Chinese architectural heritage and cultural continuity, while the formal portrait on the obverse represents the authority and legitimacy of the Republican government during a period of national crisis and resistance.
The obverse features a formal male portrait in profile (likely a Republic of China dignitary) positioned within an ornately engraved oval frame on the left side, surrounded by elaborate scrollwork, floral patterns, and corner emblems bearing Chinese characters. The reverse depicts a multi-tiered traditional Chinese pagoda with distinctive curved roofs and architectural detailing, also framed within an oval cartouche on the right side. Both sides employ a consistent color palette of purple on cream/beige underprint with dark purple and black elements used for fine line work and security detailing. Central cartouches contain the denomination (100 Yuan) with bilingual inscriptions in both Chinese and English, reflecting the international banking standards of the period.
FRONT: Serial number 527961 (Arabic numerals); 中國銀行 (Bank of China); 壹百圓 (One Hundred Yuan); 中華民國 (Republic of China). BACK: BANK OF CHINA (English); Serial number 527961 (Arabic numerals); 100 (Arabic numerals); ONE HUNDRED YUAN (English); 1940 (Arabic numerals, issue year); AMERICAN BANK NOTE COMPANY (English, printer attribution).
Intaglio engraving (line engraving/steel engraving) produced by the American Bank Note Company (ABNC), one of the world's premier security printers. The visual evidence of fine line work, intricate scrollwork patterns, detailed architectural rendering, and complex border ornamentation are characteristic of high-quality intaglio production. The note exhibits the sharp detail definition and precise registration typical of ABNC's banknote work during this era.
This example corresponds to Pick P-88a variant, specifically identified in the RealBanknotes reference as S/M number C294-244d. The serial number format (527961) and standard ABNC printing are consistent with the catalogued variety. No overprints, date variations, or signature variants are evident in the visual analysis, indicating this is a standard production example from the 1940 issue.
