1 yuan 1954

Common. While this is an early Taiwan issue, the eBay price history shows consistent circulation in the collector market with modest valuations (VF specimens typically selling for $3-$10, with EF examples reaching $7-$16). Current catalog values (2016) list VF at $10 and UNC at $35, indicating steady but unremarkable demand. The regular issue designation, standard printing run, and lack of any documented scarcity or withdrawal issues confirm this as a common note in the numismatic market.

This 1954 issue was produced during the early consolidation period of the Republic of China on Taiwan, following the retreat of the Nationalist government. The choice to depict Dr. Sun Yat-sen, founder of the Chinese Republic, on the obverse reinforces the legitimacy and continuity of the ROC government, while the prominent Bank of Taiwan building on the reverse symbolizes the island's developing financial infrastructure and institutional stability during this critical transitional period.

The obverse features a dignified portrait of Dr. Sun Yat-sen (1866-1925), founder of the Republic of China, positioned centrally within an oval frame. The portrait exhibits fine engraving detail capturing his formal attire with high collar. The note employs a color scheme of deep green on light green underprint with red accents, including two red square official seals positioned symmetrically below the portrait. Decorative corner ornaments featuring imperial lion/foo dog figures in the classical Chinese style frame the design, with ornamental scrollwork and geometric patterns throughout. The reverse displays a detailed architectural engraving of the Bank of Taiwan's institutional building in Taipei, rendered in dull olive-green on light green underprint, showing classical design elements with steps and columned facade. The denomination '1' appears in an ornamental oval frame at the bottom center, matching the decorative language of the obverse.

Front side: 臺灣銀行 (Bank of Taiwan) — official issuing institution; 中華民國三十四年 (Republic of China Year 34, corresponding to 1945 in Western calendar, though this note was issued in 1954); Serial number M287505S appearing in red. Back side: BANK OF TAIWAN — English denomination and issuer identification; ONE YUAN — English denomination designation; 1954 — Issue year in Arabic numerals.

Lithographic printing (litho), executed by PFBT (presumably a security printer). The note displays the characteristic fine line engraving and intricate background patterns typical of mid-20th century lithographic banknote production. The S/M catalog number T73-31 indicates this is a documented printing specification. The precise registration of the green and red colors, along with the detailed architectural rendering on the reverse, demonstrates the skilled craftsmanship of this printing method.

This note is identified as Pick P-1966, distinguished from the similar P-1965 by its green on light green-green underprint (as opposed to P-1965's green on light blue-green underprint). The observed serial number M287505S indicates standard production. The cataloging reference T73-31 represents the specific printing specification. No overprints, special signatures, or other recognized varieties appear to be present on this example. Collectors should note the distinction between this P-1966 variety and the closely-related P-1965 when cataloging.