First series of the renminbi
Encyclopedia
The first series of Renminbi
Renminbi
The Renminbi is the official currency of the People's Republic of China . Renminbi is legal tender in mainland China, but not in Hong Kong or Macau. It is issued by the People's Bank of China, the monetary authority of the PRC...

 banknotes was introduced during the Chinese Civil War
Chinese Civil War
The Chinese Civil War was a civil war fought between the Kuomintang , the governing party of the Republic of China, and the Communist Party of China , for the control of China which eventually led to China's division into two Chinas, Republic of China and People's Republic of...

 by the newly founded People's Bank of China
People's Bank of China
The People's Bank of China is the central bank of the People's Republic of China with the power to control monetary policy and regulate financial institutions in mainland China...

 on December 1, 1948, nearly one year before the founding of the People's Republic of China
People's Republic of China
China , officially the People's Republic of China , is the most populous country in the world, with over 1.3 billion citizens. Located in East Asia, the country covers approximately 9.6 million square kilometres...

 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.

The notes were issued in 12 denominations: ¥1, ¥5, ¥10, ¥20, ¥50, ¥100, ¥200, ¥500, ¥1,000, ¥5,000, ¥10,000 and ¥50,000, with a total of 62 designs. They were officially withdrawn on various dates between April 1, 1955 to May 10, 1955.

Some of these notes have words "Republic of China" on them to show the issuance year in the Republic of China Era
Minguo calendar
The Republic of China calendar is the method of numbering years currently used in the Republic of China . It was used in mainland China from 1912 until the founding of the People's Republic of China in 1949....

. Though the PRC adopted the Common Era
Common Era
Common Era ,abbreviated as CE, is an alternative designation for the calendar era originally introduced by Dionysius Exiguus in the 6th century, traditionally identified with Anno Domini .Dates before the year 1 CE are indicated by the usage of BCE, short for Before the Common Era Common Era...

 to replace the ROC Era in 1949 and have been avoiding using "Republic of China" in any possible circumstance, these notes were issued and used until 1955, when a revaluation
Revaluation
Revaluation means a rise of a price of goods or products. This term is specially used as revaluation of a currency, where it means a rise of currency to the relation with a foreign currency in a fixed exchange rate. In floating exchange rate correct term would be appreciation. The antonym of...

of Reminbi took place.
Images of Renminbi First Series Banknotes
Front design: a worker and a peasant

Main color of front: blue and pink

Back design: decorative pattern

Main color of back: light coffee

Size: 133 mm * 54 mm
Front design: factory
Main color of front: light blue and reddish blue

Back design: decorative ball

Main color of back: pale purple

Size: 116 mm * 56 mm
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