50 yuan 1949
Market Prices
15 salesAbout This Note
This 1949 People's Bank of China 50 Yuan note (Pick P-829) features a striking central vignette of railroad tracks leading to industrial structures, symbolizing China's modernization during the early Communist period. In VG condition, the note displays moderate aging with visible creasing and foxing, yet maintains intact margins and the characteristic tan and dark blue color scheme of this early PBC issue. The fine engraving and red seal stamps are clearly visible despite age-related wear, making it a representative example of this historically significant early Communist currency.
Common. While the eBay pricing data shows significant variation ($310–$2,250 across different grades from 2014–2022), the note's overall availability and the large number of recorded sales indicate this is a standard issue from the early PBC period. The 2016 catalogue value of $5 in VG condition is modest, consistent with common circulation issues. The variation in eBay prices reflects grade-dependent collector demand rather than scarcity of the underlying note type.
Issued in 1949, the year the People's Republic of China was established, this banknote reflects the new government's emphasis on industrial development and modernization. The prominent railroad vignette symbolizes the Communist regime's focus on infrastructure and transportation as cornerstones of national progress. The traditional dragon motifs on the reverse represent continuity with Chinese cultural heritage while the modern railroad imagery signals a break with the past and embrace of industrialization.
The obverse features a central landscape vignette depicting railroad tracks extending toward a multi-story industrial building with surrounding terrain and vegetation, framed by ornate decorative borders with cloud motifs in the corners. The denomination appears in traditional Chinese characters in stylized cartouches on both the left and right sides. Two red seal stamps are positioned below the central vignette. The reverse displays an elaborate central dragon motif in traditional Chinese artistic style, surrounded by flowing cloud patterns and floral elements. Large '50' numerals appear in ornamental cartouches in all four corners. The overall design emphasizes both modernity (the railroad) and tradition (the dragon), reflecting the transitional nature of early PRC currency.
Front side: '中國人民銀行' (People's Bank of China), '五拾圓' (Fifty Yuan), Serial number '7369805', Roman numerals '(I III II)' (series indicator), '中華民國三十八年' (Year 38 of the Republic of China, equivalent to 1949). Back side: '中國人民銀行' (People's Bank of China), '五十圓' (Fifty Yuan), '50' (Arabic numerals appearing in all four corners), '1449' (numeric sequence below central dragon).
The note employs intaglio engraving (recess printing), evidenced by the fine line work, intricate cross-hatch patterns, and detailed tonal variations visible throughout both sides. The complex engraving of the dragon scales and railroad infrastructure details, combined with the precise borders and decorative elements, are characteristic of high-quality intaglio production. This printing method provided both aesthetic quality and security features typical of early PBC currency. The red seal stamps appear to have been added as a separate security measure post-printing.
This note exhibits one of the 2 known serial number varieties for this Pick number (S/M C282-35). The observed serial number '7369805' with red ink in the upper right is documented as a standard variety. The Roman numeral series indicator '(I III II)' may indicate a specific printing series, though serial number varieties for this denomination are not extensively catalogued. The note's date inscription '中華民國三十八年' (ROC Year 38 = 1949) confirms the first issue date of this denomination.
