5 yuan 1936

Common. eBay sales data shows regular circulation of this note type at modest prices ranging from $1.29 to $15.50 (PMG 64 grade), with typical EF grades selling for $2.25-$7.50. The catalog 2016 value of $10 UNC and the frequent appearance of this note in market transactions indicate a substantial original print run. AU-graded examples would command prices in the mid-range of historical eBay sales, approximately $8-$12, consistent with common banknotes from this issue.

Issued during the Second Sino-Japanese War period, this 1936 Central Bank of China note represents a pivotal moment in Chinese monetary history when the nationalist government sought to establish a modern, internationally-recognized currency. The reverse depicts what appears to be an imperial or important governmental building, reflecting China's emphasis on institutional legitimacy and modernization during the Republic era. The note's dual-language inscriptions (Chinese and English) and production by the prestigious London printer Waterlow & Sons underscore the Central Bank's efforts to create currency acceptable in international trade during this turbulent period.

The obverse features a formal portrait of a dignitary in profile-like angle positioned on the left side, dressed in formal Western-style attire with a high collar, reflecting the modernizing influence of the Republic era. The center showcases an ornate circular rosette design containing Chinese characters, flanked by decorative red official seals. Intricate scrollwork and floral patterns border the entire note in predominantly green and pink/purple tones. The reverse depicts a traditional Chinese building with multiple tiers and characteristic curved tile roofing, set within a landscaped environment with trees and decorative gates—likely representing an important governmental or imperial structure meant to symbolize institutional authority. Both sides feature corner ornaments displaying the denomination '5' and employ fine line engraving throughout to deter counterfeiting.

FRONT: Central Bank (中央銀行) | Five Yuan (圓佰) | Five (五) - appears in corners | Printed in the 52nd year of the Republic of China (印年五十二國民華中) | Serial number: E 087072V (appears twice). BACK: THE CENTRAL BANK OF CHINA | FIVE YUAN | NATIONAL CURRENCY | WATERLOW & SONS LIMITED, LONDON (printer) | Serial number: E 087072V (appears twice) | Denomination: 5 (appears in corners) | Year: 1936 | GENERAL MANAGER and ASST. GEN. MANAGER (signature lines)

Intaglio engraving (line engraving) executed by Waterlow & Sons Limited of London, a leading security printer. The note demonstrates complex guilloche background patterns, fine line work in borders and architectural details, and multi-color printing with precise register typical of high-security currency production of the 1930s. The intricate nature of the scrollwork and the quality of the portrait rendering confirm traditional engraving methodology rather than lithography.

This example represents the Pick P-217c variant, which is documented as one of 2 serial number varieties for the 1936 5 Yuan issue. The serial number E 087072V is visible in the standard positions. Waterlow & Sons is confirmed as the printer (W&S designation in catalog). No obvious overprints, date variations, or signature varieties are visible in this example that would distinguish it as a major sub-type beyond the two known serial number varieties.