50 gold yuan 1948

Common. eBay transaction data shows UNC examples selling for approximately $20-21 in 2012-2014, with more recent sales in the $10-20 range across various grades. Catalog values (2016) list UNC at $12.50. The consistent appearance of this note on the secondary market at modest prices, combined with relatively high historical print runs typical of late-stage Chinese Nationalist currency, indicates this is a readily available note despite its historical significance. No evidence of scarcity or limited mintage.

Issued during the late Nationalist period (1948) as hyperinflation gripped China's economy, this note represents the Central Bank of China's final high-denomination currency before the Communist takeover. The portrait of Sun Yat-sen (founding father of the Republic) and the classical Chinese landscape imagery reflect the regime's efforts to project stability and cultural legitimacy amid economic turmoil. The American Bank Note Company printing underscores the international backing sought by the Nationalist government during this tumultuous period.

The obverse presents a formal, dignified portrait of Sun Yat-sen, founder of the Chinese Republic, rendered in classical black and white engraving style wearing a high-collared military jacket. The design is framed by elaborate ornamental borders featuring floral and geometric patterns in black with red/pink highlights. Four corner medallions containing Chinese characters provide additional decorative weight. Large red denomination markers with scalloped frames and official seals are positioned symmetrically on both sides. The reverse displays a romanticized landscape composition enclosed in an ornate oval frame, depicting a classical multi-tiered Chinese pagoda set on a hillside overlooking a river valley with mountains in the distance—a traditional iconographic representation of Chinese cultural heritage. The English text arc reading 'THE CENTRAL BANK OF CHINA' and printer attribution emphasize the international character of this issue.

Front side: '中央银行' (Central Bank), '圆拾壹' (Ten Yuan) — note: discrepancy between catalog denomination (50) and inscription visible in image (Ten Yuan), '拾' (Ten), serial number 'TA053853' (appears twice). Back side: 'THE CENTRAL BANK OF CHINA', '50' (denomination numerals in top corners), 'GENERAL MANAGER', 'GOVERNOR', 'AMERICAN BANK NOTE COMPANY', '1945' (printer year/design date).

Steel engraving (intaglio) printing by the American Bank Note Company (ABNC), one of the world's premier security printers. The visual evidence of fine line engraving, intricate border work, multiple color registration (black on multicolor underprint with red and pink elements), and the precise ornamental detailing are all hallmarks of professional intaglio bank note production. The crisp rendering of portrait features and landscape detail, combined with the complexity of the decorative elements, confirms high-quality engraved plate work characteristic of ABNC's standards.

Pick catalog notes 2 signature varieties for this issue. The observed example shows signatures consistent with standard issuance. Serial number TA053853 with the 'TA' prefix is typical of the series. The note displays characteristics of the 1945 design date (printed for 1948 issue) as documented in ABNC records. Collectors should verify signature combinations when acquiring examples, as the two known signature varieties may command slight preference differences, though both remain common.