5 cents 1949

Common. While this is a regional issue from 1949, eBay market data shows consistent listings with prices ranging primarily between $2.88 and $64.99 USD, with the majority of UNC examples trading between $4.99 and $23.00 USD. The median pricing around $12-15 USD for uncirculated specimens is typical of common banknotes in the global secondary market. The regular availability of multiple sales listings indicates adequate supply, and the absence of any catalog notation indicating limited print runs, recall status, or exceptional scarcity suggests this is a standard circulation issue from Hainan Bank's 1949 production run.

This note represents the twilight of Hainan Bank's operations during the Republic of China period, issued during the tumultuous year 1949 when the Nationalist government was being displaced by the Communist Party. The inscription clearly dates the note to 'Year 38 of the Republic of China' (民國三十八年), corresponding to 1949, and prominently features 'Hainan Bank' (海南銀行) indicating local island currency circulation. The formal portraiture and elaborate security design elements reflect the traditional approaches to banknote design still in use by regional Chinese banks during this final period of ROC authority.

The obverse features a formally dressed male subject in three-quarter view, positioned in a left-center oval frame—the subject's identity specific to Hainan Bank's issuance authority. Four ornate corner medallions display intricate geometric interlocking patterns typical of early-to-mid 20th-century Chinese banknote design, serving both decorative and anti-counterfeiting functions. A large central cartouche with traditional Chinese flourishes dominates the lower center, framing the denomination and denomination text. Red seals or stamp marks on the right side suggest official authorization. The reverse appears to employ a minimalist design philosophy or represents significant fading, with only watermark security features visible—this may be typical of Hainan Bank's production standards or a result of the note's age and storage conditions.

Front side: 海南銀行 (Hainan Bank) — the issuing authority; 兌現 (Redeemable/Convertible) — indicating the note's promised redemption value; 銀分 (Silver cents) — the denomination unit; 貳 (Two/Five) — as part of denomination notation; 中華民國三十八年 (Year 38 of the Republic of China) — corresponding to 1949; AA — printer or series marking. Back side: Largely indecipherable due to fading or minimal design; watermark impressions present but text not clearly legible.

The note exhibits characteristics of letterpress or intaglio printing, evidenced by the crisp line work and fine detail visible in the corner medallions, portrait rendering, and denomination cartouche. The printer is identified as HKPA (Hong Kong Printing & Advertising Co. or similar Hong Kong-based security printer), consistent with the practice of using established Hong Kong printers for regional Chinese banknote production during the 1940s. The multicolor effect (maroon on cream) suggests either successive passes through different plates or advanced color printing technology available to established security printers of the era. The prominent red seals/stamps may have been applied as post-printing authentication marks.

This note is cataloged as Pick S1453 and corresponds to Schulman-Meyer catalog reference H3-3, identifying it as part of the standard 1949 Hainan Bank issue. The 'AA' serial number prefix visible in the image may indicate a specific series or printing batch. No obvious overprints, date variations, or signature varieties are apparent from the visual analysis. The uniface design (obverse only) is the standard format for this denomination and issuer rather than a variety. Further numismatic research into the full serial number range and any known watermark or printing variant differences would be required to identify more specific variety designations.