Heritage World Coin Auctions
Hong Kong Signature Sale 3540 10-11 Dec 2015
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China Central Bank of China 500 Yuan 1945 Pick 283s Specimen
Due to inflation, a weak economy, war, and an outflow of specie, the Nationalist government introduced the "fabi" or "fiat money" in 1935. The government resorted to borrowing followed by devaluing the currency, and progressively larger denominations were introduced. Finely made intaglio notes printed by the American Bank Note Company gave way to lithographed notes, first by the Security Banknote Company as we see on this Specimen, and later to locally printed versions. From the printer's notes in the margin, we can deduce this was one of the final Proofs before full production began. An interesting Specimen with a high PMG Superb Gem Uncirculated 68 EPQ grade.
Due to inflation, a weak economy, war, and an outflow of specie, the Nationalist government introduced the "fabi" or "fiat money" in 1935. The government resorted to borrowing followed by devaluing the currency, and progressively larger denominations were introduced. Finely made intaglio notes printed by the American Bank Note Company gave way to lithographed notes, first by the Security Banknote Company as we see on this Specimen, and later to locally printed versions. From the printer's notes in the margin, we can deduce this was one of the final Proofs before full production began. An interesting Specimen with a high PMG Superb Gem Uncirculated 68 EPQ grade.