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The first series of Renminbi banknotes was introduced during the Chinese Civil War by the newly founded People's Bank of China on December 1, 1948, nearly one year before the founding of the People's Republic of China itself. It was issued to unify and replace the various currencies of the communist-held territories as well as the currency of the Nationalist government.

This series also called "Old Currency", which 10000 yuan is equal to 1 yuan of the 2nd series and later(called "New Currency").
Due to the turbulent political situation at the time, the first series is rather chaotic, with many versions issued for each denomination. The banknotes show a mixture of agricultural and industrial scenes, modes of transportation, and famous sites.
Issued in 12 denominations, with a total of 62 designs, they were officially withdrawn on various dates between April 1, 1955 to May 10, 1955.

This note:

People's Republic of China

Y 20

1949 (issued August 1949)

Serial # 70216399

Plate (I II III)

Obv: Working area, dark olive green with tan
guilloche.

Rev: Flower ball, dark olive green.

Certified as genuine and graded by PCGS

Reference # 80709690 (can be verified on PCGS bank note web site)

VF (Very Fine) 35 (has pin holes)

Full money back guarantee.

In Very Fine condition. as per pics.

Photos are scans of actual notes in auction.

I only use courier services, rural is more expensive but this ensures safer delivery. All goods delivered to your door. If you live at a rural address and opt for the urban tab, you will not receive your items.

I will combine to save postage, please pay the higher amount of shipping and the other items can be added free of charge. I DO NOT OFFER FREE POSTAGE UNLESS STATED.

I can hold on to items for 3-4 days and combine shipping costs but please contact me if you wish to do so. I prefer payment within 2 days of the auction closing.

Happy bidding, thanks for looking.
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  • Seller location: Hawera, Taranaki, NZ

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