2 cents 1949
Market Prices
About This Note
This 1949 Hainan Bank 2 cents note is presented in excellent uncirculated condition with sharp printing and no visible wear. The front features an ornate design in pink and red tones with a formal portrait in profile within a decorative oval frame, surrounded by elaborate scrollwork and floral ornaments typical of early 20th-century Chinese banknote design. The reverse is unprinted, consistent with notes of this era and denomination, and the cream-colored paper shows natural aging appropriate to a 75-year-old note.
Common. Market evidence from eBay pricing shows UNC examples trading in the $0.99 to $6.49 USD range, with most sales clustered between $3-6 USD. These consistently low valuations despite uncirculated condition indicate substantial availability in the collector market. The Hainan Bank issued this denomination as a regular-issue fractional note in 1949, suggesting reasonable production quantities for local circulation.
The Hainan Bank issued this note during the final year of the Republic of China (Year 38, corresponding to 1949), a period of significant political and economic turbulence as the Chinese Civil War concluded. The inscription 'Republic of China Year 38' and the reference to 'silver dollar' redemption reflect the monetary conventions of the Nationalist government during this transitional period. This small-denomination fractional note represents the local banking infrastructure that existed on Hainan Island before the Communist takeover.
The obverse features a formal male portrait in profile facing right, positioned within an ornate double-lined oval frame with decorative hatching. The unidentified gentleman is rendered in formal attire and represents the institutional authority of the Hainan Bank. The center of the note contains a flower-shaped cartouche displaying the denomination. The design is framed by elaborate guilloche patterns and scrollwork borders with four-lobed floral ornaments positioned at each corner, each labeled with denomination characters. Decorative cloud scrolls appear at the top, creating a classical aesthetic consistent with early Republican-era Chinese banking notes. The reverse is blank, with no design elements printed.
Front Side: '分位' (Share/portion); '行銀南海' (Hainan Bank, literally South Sea Bank); 'AA' (Latin characters, likely serial designation); '分佰' (One hundred portions/cents); '兑現' (Redeemable/Cashable); '中華民國三十八年' (Republic of China Year 38); '銀元' (Silver dollar); '圓' (Yuan/Dollar). Back Side: No inscriptions present.
Intaglio (line engraving) printing method, evidenced by the fine detailed line-work, intricate crosshatching patterns in backgrounds, and complex guilloche security patterns throughout the design. The sharp definition of the portrait and decorative elements, combined with the fine serif typography, confirms professional engraved plate production typical of established Chinese banks during this period.
The serial designation 'AA' is visible on this example. Serial number prefixes and varieties for this Pick number should be documented if multiple prefix combinations are known. No overprints, date variations, or other obvious varieties are evident from this specimen. Further research into Hainan Bank serial ranges and printing sessions would be required to establish specific variety classification.
