2 yuan 1960

Common. While this 1960 2 Yuan note is historically significant, it remains readily available in the market. The eBay price tracking data shows consistent sales activity across all condition grades over the past 15 years, with UNC examples regularly selling between $89-$403. The note had a substantial initial print run typical of a regular issue, and examples appear with reasonable frequency in the collector market. The denomination and era, while popular with collectors, do not confer rarity status.

Issued in 1960 during the Great Leap Forward period, this banknote reflects the Chinese Communist government's emphasis on industrial development and labor heroism. The central vignette of a machinist and the reverse depiction of a modern oil refinery symbolized China's rapid industrialization efforts, while the multi-script design (Chinese, Tibetan, and Arabic) represented the multinational composition of the People's Republic.

The obverse features a central portrait of a male industrial worker in work clothes and cap, depicted operating a lathe machine—a symbol of socialist labor and industrial progress. The design is framed by ornate decorative borders with scalloped edges and floral medallions in the corners, rendered in green and pink. The reverse depicts a modern industrial landscape with an oil refinery or petrochemical processing facility, complete with multiple tall smokestacks and cylindrical processing towers, symbolizing economic development. This vignette is similarly framed by elaborate ornamental borders featuring stylized peonies or chrysanthemums in pink, green, and blue. The red national coat of arms of China (five stars above a building) appears in the upper right corner of the reverse. Both sides employ multiple scripts reflecting China's diverse population.

Front: '中國人民銀行' (Zhongguo Renmin Yinhang) = People's Bank of China; '貳圓' (Er Yuan) = Two Yuan; Tibetan script appears on left side; Serial number 'V I VII 5536689' in Roman numerals and Arabic. Back: 'ZHONGGUO RENMIN YINHANG' (Pinyin) = People's Bank of China; '1960' = Year of issue; 'ER YUAN' (Pinyin) = Two Yuan; '2' = Denomination.

This note was produced using traditional intaglio (engraved) printing combined with multicolor lithography. The intricate guilloche patterns, fine line work throughout the borders, and the detailed engraving of the central vignettes are characteristic of high-security intaglio printing. The complex floral engravings and geometric pattern fills demonstrate the sophisticated anti-counterfeiting technology employed by the People's Bank of China during this period. Based on Pick catalog records, this note was printed by the Chinese state security printer.

This example is identified as Pick 875a. The serial number prefix consists of Roman numerals (V I VII in this example), which is cataloged as a standard feature. The catalog notes that serial number prefixes use either 2 or 3 Roman numerals, indicating this specimen with 3 Roman numerals (V I VII) represents the documented variety. No additional overprints or signature varieties are visible in the UNC example provided.