20 yuan 1941

Common. eBay sales data shows consistent availability across multiple condition grades (VG, F, VF, AU, UNC) spanning from 2012 to 2022, with typical realized prices ranging from $2.45 to $38 depending on condition. The 2016 catalog valuation of $25 for UNC examples and observed AU-grade market performance indicate this is a widely available note in the collector market. The Central Bank of China maintained significant print runs of this denomination during 1941, and no evidence suggests a short-lived issue or recall.

Issued by the Central Bank of China during 1941, this note reflects the Republic of China's monetary operations amid Japanese occupation of eastern territories. The bilingual English-Chinese design and professional security printing by the Security Banknote Company underscore the Central Bank's efforts to maintain currency credibility and facilitate international trade during this turbulent period. The formal portraiture and elaborate traditional Chinese decorative elements (cloud-scroll cartouches and ornamental medallions) assert Chinese sovereignty and cultural identity during wartime.

The obverse features a formal male portrait of Sun Yat-sen (SYS), founder of the Republic of China, positioned within an elaborate oval frame on the left side. The portrait is rendered in three-quarter view, dressed in formal attire befitting his historical stature. The right side displays a large ornate cartouche with Chinese characters on a red ground, surrounded by intricate guilloche patterns, scrollwork, and traditional cloud-scroll designs. Ornamental corner medallions contain repeating Chinese characters. The reverse maintains bilingual labeling with the denomination prominently displayed in four corner cartouches, a large central cartouche, and English text identifying the issuing authority. The entire design employs fine-line engraving with sophisticated guilloche background patterns characteristic of high-security currency production.

OBVERSE: Central Bank (中央銀行) | Twenty Yuan (拾貳圓) | China Republic Year 13 Printing (印十三國民華中) | Serial numbers: 5950668 (appears twice). REVERSE: THE CENTRAL BANK OF CHINA (English) | 20 / YUAN / TWENTY YUAN (English denomination) | GENERAL MANAGER / ASST. GENERAL MANAGER (signature line designations) | SECURITY BANKNOTE COMPANY (printer attribution) | 1941 (year) | Serial numbers: 2950668 (appears twice, in red).

Intaglio printing (engraved) executed by the Security Banknote Company (SBNC), as noted in the reverse inscription. The fine-line engraving throughout, intricate guilloche patterns, precise serial number placement, and multi-color registration visible in both obverse and reverse confirm professional security printing standards. The sharp detail reproduction and color clarity indicate controlled multi-plate engraved printing typical of 1940s currency production.

This specimen represents Pick 240b, the variety distinguished by red serial numbers and signature seals (as indicated in catalog reference 'As a but with red serial number and signature seals'). The observed serial numbers 5950668 (obverse) and 2950668 (reverse, in red ink) conform to this variety specification. The 1941 date and SBNC printer attribution are consistent with the Pick 240b cataloging.