5 yuan 1919

common. While the catalog notes AU examples selling at prices ranging from $37.50 to $399.95 USD on eBay, the wide variance in prices and the presence of numerous UNC examples at comparable or lower prices suggests typical collector market availability. The 2016 catalog values of $2.50-$30 USD across grades indicate this is a relatively standard issue. The fixed-term treasury bond nature of these instruments means they were produced in substantial quantities for government financing purposes, and surviving examples in various conditions remain accessible to collectors.

Issued during the early Republic of China period (民國), this fixed-term interest-bearing treasury bond reflects the government's financial mechanisms in 1919, a year of significant political transition following the 1911 revolution. The prominent imperial dragon symbol on the reverse, combined with the formal Chinese imperial seal and extensive terms-and-conditions text, demonstrates the hybrid nature of early Republican financial instruments that retained traditional imperial iconography while serving modern governmental functions. The inclusion of 'no silver dollar' stipulation in the inscriptions reflects the currency instability and transition away from silver-backed monetary systems during this turbulent economic period.

The front features a symmetrical classical design with ornate corner flourishes and geometric border patterns in green and cream tones. The central element is a circular medallion containing Chinese characters, flanked by prominent octagonal frames displaying the denomination 'Five Yuan' (五圓) in Chinese numerals on both left and right sides. Serial numbers in red ink appear on both margins. The reverse is dominated by a traditional Chinese imperial dragon design rendered in green, positioned centrally with the dragon facing right, a symbol of imperial authority and legitimacy. The entire reverse is covered with extensive formal text in traditional columns, framed by matching ornate borders. A red official government seal (chop) appears in the lower portion, authenticating the bond as an official Ministry of Finance instrument.

FRONT: 財政部定有期國利券 (Ministry of Finance Fixed Period National Bonds) | 現用通無銀元 (Currently Usable, No Silver Dollar) | 五 圓 (Five Yuan) | 民國 (Republic of China) | Serial numbers: 0129959 (appears twice in red ink) | BACK: 中華民國政府定期有利國債券 (Chinese Republic Government Fixed Period Interest-Bearing National Debt Bond) | Extensive terms and conditions text in traditional right-to-left columns detailing bond redemption provisions, government authorization, and usage regulations.

Intaglio engraving on security paper, characteristic of official government bond printing of the period. The visual analysis confirms the use of detailed line work, fine geometric mesh background patterns, and security printing techniques typical of high-value financial instruments. The precise rendering of the dragon, the uniformity of the border work, and the clarity of serial numbers in red ink all indicate professional security printing, likely produced by a Chinese government or contracted security printer specializing in bond production during the early Republican period.

Serial number 0129959 is noted on this specimen. No additional varieties (such as signature variants, date variations, overprints, or prefix differences) are apparent from the visual analysis. The Pick 628 designation indicates this is the standard variety. Additional research on the issuing bank's serial numbering system would be required to determine if this particular serial range or prefix indicates a specific printing run or sub-variety.