50 dollars 1928
Market Prices
5 salesAbout This Note
This is a Chinese Central Bank 50 Yuan note from 1928, printed by the American Bank Note Company (ABNC) in Shanghai. The note exhibits a distinctive two-color design with an orange and multicolor obverse featuring a portrait of Sun Yat-sen in a central oval medallion, and a blue-gray reverse with elaborate red and cream ornamental cartouches and decorative patterns. In VF condition, this note shows the crisp engraving and fine line work characteristic of ABNC's security printing, with only minor aging consistent with its 95+ year age.
Common. eBay market data shows consistent sales in the $8-$66 range depending on condition, with VF specimens selling for $13.50 (2020) and EF for $51 (2022). The 2016 catalog value for VF is $12, aligning with observed market prices. The Central Bank of China's 1928 50 Yuan was a regular-issue denomination with substantial print runs; circulation examples remain readily available to collectors. No evidence of scarcity or recall history specific to Pick 198f.
Issued during the early Republic of China period (Year 17 of the Republic = 1928), this note represents a transitional era when the Central Bank of China was consolidating monetary authority under the Nationalist government. The prominent portrait of Sun Yat-sen (founder of the Republic) and the bilingual English/Chinese inscriptions reflect China's modernization efforts and international commercial standing during the late 1920s, while the Shanghai printing location underscores that city's role as the financial center of Republican China.
The obverse features a formal portrait of Sun Yat-sen (1866-1925), the founding father of the Republic of China, positioned centrally within an ornate oval medallion rendered in black and white line engraving. The portrait is flanked by decorative scrollwork, architectural elements, and value numerals (50) in ornamental frames on both left and right margins. The reverse displays an elaborate symmetrical design with a large red cartouche containing Chinese characters at center, surrounded by intricate floral scrollwork, geometric patterns, and corner medallions containing Chinese inscriptions. The design employs a warm palette of red, cream, and beige tones with green accents, creating a distinctly Chinese aesthetic while maintaining the formal security printing standards of international currency design of the era.
OBVERSE: 'THE CENTRAL BANK OF CHINA' / 'PROMISES TO PAY THE BEARER ON DEMAND AT ITS OFFICE HERE' / 'FIFTY DOLLARS' (numeral 50) / 'SHANGHAI' / 'NATIONAL CURRENCY' / '1928' / 'GENERAL MANAGER' (signature line) / 'AMERICAN BANK NOTE COMPANY'. REVERSE: '中央銀行' (Central Bank) / '五拾圓' (Fifty Yuan) / '海上' (Shanghai) / '中華民國十七年' (Year 17 of the Republic of China [1928]) / '國印票帶付拾圓' (National banknote fifty yuan) / Serial number 'SL759320BB' (appears top left and right) / Red seal stamps (lower left and right corners)
Intaglio engraving (line engraving and steel plate engraving) executed by the American Bank Note Company, Shanghai. The security printing demonstrates fine line work, intricate decorative patterns with multiple layers of detail, and precise registration typical of high-security currency production of the 1920s. The crisp impression quality and detailed portraiture visible in the visual analysis confirm skilled engraving and press work.
This specimen is identified as Pick 198f variety, with serial number SL759320BB. The 'f' designation in Pick catalog indicates a specific signature variety of this 1928 issue. The visual analysis confirms the characteristic features of this pick: portrait of Sun Yat-sen on obverse, ABNC printing credit, Shanghai imprint, and bilingual design. The serial number format (letters followed by numerals followed by letters) is consistent with Central Bank of China practice of this period. No additional overprints or unusual varieties are apparent from the examined specimen.
