1949 Bank of Taiwan 5 Cents Note - Small Fractional Note - Republic of China - 1949 Republic of China Taiwanese Five Cents Note - P#1947

This listing is for the photographed 1949 Republic of China Bank of Taiwan 5 Cents Small Bank Note. Issued by the Bank of Taiwan under the control of the Republic of China (ROC). The obverse of this note displays the Bank of Taiwan building at the center. The reverse of this note depicts an outline of the island of Taiwan at the center. Almost Uncirculated (AU) grade/condition, crisp note, little to no signs of circulation! Beautiful design and interesting historical note. P#1947 (Pick Number 1947).

After Japan's defeat in World War II, Taiwan was placed under the ROC administration. The Bank of Taiwan, originally established during Japanese rule in 1897, was reorganized under the ROC's governance. To combat hyperinflation, the ROC government introduced the New Taiwan Dollar (NTD) in 1950, issued under the supervision of the Bank of Taiwan. The NTD was initially issued as a temporary currency for Taiwan. The Bank of Taiwan continued to print and manage the currency until the establishment of the Central Bank of the Republic of China (CBC). The Central Bank of the ROC, which had relocated to Taiwan with the ROC government after its retreat from mainland China, resumed its operations in Taiwan in 1961, officially entrusting the Bank of Taiwan with the issuance of banknotes. In 1992 the CBC took over responsibility of the issuance of banknotes in Taiwan, and they continue to issue them today.

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1949 Bank of Taiwan 5 Cents Note - Small Fractional Note - Republic of China - 1949 Republic of China Taiwanese Five Cents Note - P#1947