500 yuan 1949

Common. Despite being an early PRC issue from 1949, this denomination appears regularly in the collector market at moderate prices. eBay auction data shows consistent sales activity ranging from $52 (G condition, 2016) to $1,163 (PMG 45, 2021), with Fair condition examples typically realizing $300-$550 in recent sales. The catalog values ($45 in VG condition, 2016) and the frequency of auction appearances indicate adequate supply in the market. No evidence suggests this was a short print run or early recall.

This 500 Yuan note was issued in 1949, the pivotal year of the Communist victory in the Chinese Civil War and the establishment of the People's Bank of China as the sole monetary authority of the newly founded People's Republic. The traditional landscape imagery—including a pagoda-style building and rural figure—reflects the cultural continuity maintained in early PRC currency design despite the dramatic political transformation. The note's inscription 'Year 38 of the Republic' (民國三十八年) technically references the old Republican calendar but marks the final transition to the new Communist state's monetary system.

The front of this note features two scenic vignettes depicting traditional Chinese rural and architectural themes separated by a prominent ornamental rosette medallion. The left vignette shows a figure engaged in pole work (possibly fishing or agricultural labor) in a pastoral setting with trees, while the right depicts a traditional pagoda-style building near a waterway surrounded by landscape elements. Both sides feature elaborate ornate borders with intricate geometric and floral patterns characteristic of fine banknote engraving. The back side presents a highly symmetrical design dominated by the denomination in a large decorative frame with oval cartouches containing the numeral '500' in multiple formats (Arabic, traditional Chinese, and formal financial characters). The color scheme uses reddish-brown on the front and blue-green/teal on the back, printed on a cream/beige paper base.

FRONT SIDE: '中國人民銀行' (People's Bank of China), '五百圓' (Five Hundred Yuan), '民國三十八年' (Year 38 of the Republic [1949]), Serial number '50741091', Roman numeral 'VIII' (likely series indicator). BACK SIDE: '中國人民銀行' (People's Bank of China), '500' (Arabic numerals), '五百' (Five Hundred in standard characters), '伍佰' (Five Hundred in formal/financial characters), '1949' (year in Arabic numerals).

This note was produced using traditional intaglio (line engraving) printing, evidenced by the complex geometric line patterns, fine-line cross-hatching, and intricate radial patterns visible throughout the design. The rosette medallion and corner flourishes show the characteristic sharp detail possible only with engraved plates. The multi-color printing (reddish-brown and blue-green inks) suggests sequential printing passes, typical of security printing methods of the 1949 era.

The serial number '50741091' with Roman numeral 'VIII' series indicator is visible on this example. Early PRC 500 Yuan notes from 1949 may show variety in series indicators and serial number ranges. No specific overprints or signature varieties are apparent on this note. The traditional Chinese calendar reference (民國三十八年) is standard for all 1949 first-year issues of this denomination and does not constitute a variety.