1000 yuan 1948
Market Prices
7 salesAbout This Note
This 1948 Bank of Taiwan 1,000 yuan note (Pick P-1942) features a striking blue obverse with Dr. Sun Yat-sen's portrait in a central oval, flanked by the Bank of Taiwan building on the left and an outline map of Taiwan on the right. The reverse depicts a naval battle scene in an ornamental oval frame with denomination cartouches at the corners. In VF condition, the note exhibits moderate aging with visible foxing, creasing, and cream-colored patina consistent with 1940s-era paper currency, yet retains clear impressions of its intricate engraving throughout.
Common. The catalog values from 2016 (VF: $15) and the consistent eBay auction history showing VF examples selling in the $5.63–$23.18 range across multiple sales from 2012–2020 indicate robust market liquidity and regular availability. No evidence of restricted print runs, recalls, or scarcity markers exists for this Pick number. Most examples in circulation grades remain affordable, confirming this as a standard issue from the Bank of Taiwan's 1948 series.
Issued in 1948 (Year 37 of the Republic of China, calculated from the 1911 Proclamation), this note represents the early post-World War II period when the Bank of Taiwan resumed currency operations under the restored Republic of China government. The obverse's prominent placement of Dr. Sun Yat-sen alongside the institutional Bank of Taiwan building reflects the nationalist iconography of the period, while the reverse's depiction of a 1633 naval battle against European powers (likely the Dutch) connects the note to Taiwan's colonial history and strategic maritime importance to the Chinese state.
The obverse presents a classical engraved composition centered on a portrait of Dr. Sun Yat-sen (founder of the Republic of China) in formal attire within an oval cartouche. To the left stands the Bank of Taiwan building—a neoclassical structure with columns representing institutional authority and modernization. The right side features a geographic outline map of Taiwan, asserting territorial identity. The entire design is framed by ornate Art Deco-influenced decorative borders with cloud-scroll motifs and geometric patterns characteristic of 1940s Chinese banknote design. The reverse dominates with a large oval landscape scene depicting the 1633 naval battle against Danish/European forces, rendered in muted green and earth tones, with denomination numerals displayed in decorative cartouches at each corner. Red seals and serial numbers in red ink appear on the obverse.
Front side: '台灣銀行' (Bank of Taiwan), '台 壹 仟 圓' (One Thousand Yuan - Taiwan), '中華民國三十七年印' (Printed in the 37th Year of the Republic of China [1948]), '中央印製局' (Central Printing Bureau), serial number 'AY426001'. Back side: '1000' (denomination in Arabic numerals). All text appears in Traditional Chinese characters except serial numbers and denomination numerals.
Intaglio engraving (line engraving), evidenced by the fine, detailed line work visible throughout both sides and the precise geometric patterns forming the security background. The note was printed by the Central Printing Bureau (中央印製局), with Smithsonian/Museum records identifying the printer as CPF. The complexity of the engraved borders, portrait rendering, and landscape scene are characteristic of high-security banknote production of the 1940s era.
This note is cataloged as Pick P-1942, distinguished from its close variant P-1943 primarily by the position of the flag on the Bank of Taiwan building—P-1942 shows the flag hoisted over the left side of the building with a car visible in front, while P-1943 depicts the flag in front of the building without the car. The observed specimen exhibits serial number prefix 'AY' and shows the characteristic car and left-side flag positioning confirming P-1942 classification. The S/M (Smithsonian/Museum) catalog number is recorded as T72-20.
