1 cent 1949

Common. While this is an early note from 1949, the eBay price data shows UNC examples selling for $51 in 2018, but more recent VF examples averaged $6.50 (2020) and AUNC around $9.50 (2014). The catalog value for UNC (2016) was listed at $10, indicating steady but modest collector demand. The note was issued in sufficient quantity that UNC examples remain available to collectors, and the denomination (1 cent) suggests very large original print runs. This is a common early Republic of China note, not rare.

Issued in 1949 by the Bank of Taiwan during a critical period in Chinese history, this note represents the early post-war monetary system of the Republic of China as it established control over Taiwan. The imagery—the island of Taiwan prominently featured on the obverse and an institutional building (likely a government or banking facility in Taipei) on the reverse—reflects the consolidation of ROC authority on the island. The dual-language inscriptions (Chinese and English) underscore Taiwan's position during this transitional era of modernization and international engagement.

The obverse features a detailed engraved map of Taiwan rendered in blue ink, centered within a decorative rectangular border with ornamental corner flourishes. The reverse displays a multi-story institutional building in classical architectural style with multiple windows and columns, also rendered in blue engraved work, flanked by two red official seals with Chinese characters and a decorative blue floral cartouche below. The building is identified as a Bank of Taiwan structure, likely in Taipei. Both sides employ fine-line engraving typical of mid-20th-century banknote production, with the color scheme limited to blue, red, and cream paper.

FRONT SIDE: 'BANK OF TAIWAN' (English), 'ONE CENT' (English), '1954' (English/numeric, year marking). BACK SIDE: '臺灣銀行' (Bank of Taiwan), 'AG679919' (serial number), '每拾角壹圓' (Ten of these equal one dollar—exchange rate notation), '中華民國二十四年' (Republic of China Year 24, referring to the ROC calendar system, approximately 1935), '中央印製廠印製' (Printed by Central Printing Plant).

This note was produced using intaglio (engraved) printing, evidenced by the fine line work visible throughout both sides and the sharp, detailed rendering of the map and building. The printer is identified in the inscriptions as the Central Printing Plant (中央印製廠), the official printing facility of the Republic of China. The two-color printing (blue primary design with red seals and numerals) is consistent with security printing practices of the period.

The serial number observed is AG679919. The note displays English text showing '1954' which may indicate a later printing or reissue of the design despite the catalog date of 1949; this discrepancy (1949 vs. 1954) warrants investigation as it may represent a known printing variety. The presence of the 'Central Printing Plant' imprint is standard for ROC notes of this period. No overprints or signatures are visible, consistent with 1 cent denomination notes of this series.