5 yuan 1936

Common. While this is a legitimate Republican-era issue with historical significance, eBay sales data over approximately 15 years shows consistent availability across all condition grades from Fine to UNC, with numerous examples trading at modest prices. UNC examples in particular have sold for as low as $1.25-$7.50 in recent transactions, with only premium PMG-graded examples (66-67) commanding prices above $30-45. The catalog 2016 value for UNC was only $10, indicating broad availability. This denomination and issue was likely produced in substantial quantities to meet circulation demands of the 1936 period.

Issued in 1936 (Republic of China Year 25), this banknote represents the Central Bank of China's regular currency issues during the pre-WWII Republican period. The Palace of China depicted on the reverse (likely a significant governmental or cultural building of the era) symbolizes national identity and authority, while the bilingual English-Chinese inscriptions reflect the international commercial importance of Chinese currency and the Western influence in Chinese financial institutions of the 1930s.

The obverse features a formal male portrait positioned on the left side of the note, rendered in traditional engraving style and likely representing a significant figure of the Republican era. A prominent ornate circular rosette security pattern dominates the center, surrounded by fine geometric line work and traditional Chinese decorative motifs. Red rectangular seals with Chinese characters frame the design on both sides, while elaborately decorated corners display the character 伍 (five) in ornate cartouches. The reverse showcases a detailed engraved architectural scene depicting a multi-tiered traditional East Asian palace complex—possibly the Palace of China referenced in catalog notes—with ornamental roofing, central ceremonial stairs with decorative railings, and surrounding landscape elements including trees. An oversized decorative oval cartouche on the left side accommodates watermark placement, with fine line engraving throughout providing security detail.

FRONT SIDE (Chinese/Traditional): 行銀央中 (Central Bank, reading right-to-left); 圓伍 (Five Yuan, appearing twice); 中華民國二十五年 (Republic of China Year 25); 伍 (Five, corner denominations). BACK SIDE (English): THE CENTRAL BANK OF CHINA; FIVE YUAN; NATIONAL CURRENCY; GENERAL MANAGER; ASST. GEN. MANAGER; 1936; WATERLOW & SONS LIMITED, LONDON (printer); Signature lines for L.K. Lichter (General Manager) and Soufeng Hsiang (Assistant General Manager); Serial number B338666V (both sides).

Intaglio engraving (line engraving) executed by Waterlow & Sons Limited, a renowned British security printer. The note displays characteristics typical of high-quality 1930s British banknote production: fine parallel line work, intricate geometric patterns for security purposes, multiple color printing in green and earth tones, and crisp impressions indicating fresh paper and well-maintained printing plates. The complexity of the ornate rosette pattern and architectural rendering confirms traditional engraving methods without photographic reproduction.

This example is Pick 217a (the 'a' variety designation indicates it is one of two known serial number varieties). The observed serial number is B338666V. The note displays characteristics consistent with the W&S (Waterlow & Sons) printing variant. Two signatures are evident: L.K. Lichter as General Manager and Soufeng Hsiang as Assistant General Manager. No overprints or major variants are visible on this specimen. The condition grade UNC aligns with the visual observations of minimal wear and excellent paper quality.