commemorative: ...China - 50 Yuan The People's Bank of China 70th Year Anniversary 1948-2018

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Total commemorative banknotes issued is under 1,500 pieces. If you have achieved any figures close to this, then you are doing extremely well, as many of the older commemorative notes are hard to find even in poor conditions.

Opinion: Many collectors of commemorative banknotes would have come across with those Somaliland sets overprinted with gold and silver texts with the following wordings - 5th Anniversary of Independence 18 May 1996 [Sanad Gurade 5ee Gobanimadda 18 May 1996]. I believe these are "home made" (or fake) and not authorised by the central bank. My argument is simple. No central bank would have issued an overprint commemorative banknote that the texts are so large that it would cover the two signatures on the note as well as part of the serial numbers. Even if these are genuine notes, then these could be issued as souvenir sheets and not as legal tender. As I said before, this is my opinion. If you have paid top dollars for these, please think about my argument. There is always a sucker around the corner, including me of course!

All comments are most welcome but it has to be subjects related to banknotes or banknotes collection. If not, it will not be approved. Thanks

08 May 2019

...China - 50 Yuan The People's Bank of China 70th Year Anniversary 1948-2018

中华人民共和国

Zhōnghuá Rénmín Gònghéguó

People's Republic of China

中国人民银行 / Zhōngguó Rénmín Yínháng / People's Bank of China

This is the fifth commemorative note issued by the People's Bank of China since its inception in 1948. This note celebrates the 70th year of issuance of banknotes by the People's Bank of China. The People's Bank of China is the central bank of China and was established on 01.12.1948 even before the formation of the Chinese People's Republic (established on 01.10.1949). The bank was created following the consolidation of three banks, namely Beihai Bank, Huabei Bank and Xibei Farmer Bank. Like all central banks around the world, the bank is responsible for carrying out monetary policy and regulation of financial institutions in China. Since its inception in 1948, the People's Bank of China has been the only institution issuing banknotes for circulation in the country.

The face value of this new issue is 50 yuan. The Chinese currency yuan literally means round (as in a coin) and a total of 120 million pieces are issued to celebrate this special occasion. This issue is far less than the previous Aerospace Science and Technology Commemorative of 100 Yuan where 300 million pieces were issued. Coins are also minted for this celebration.

The Design
Front - The main design of this note is a tree ring shape featuring parts of the design of banknotes issued from the first to the fifth series since 1948. Other features are the National emblem on the top left corner and the commemorative text of "The 70th Anniversary of Renminbi Issuance 1948-2918". The word Renminbi means People's currency.

Back - The People's Bank of China HQ building in Beijing and it's former old building, National flower Plum blossom. in the background, it also features the silhouette of the city buildings. The year date of 2018 is also printed on the note.

Watermark: the Great Wall of China.

This note was released in stages, with the first batch made available to the public on 28.12.2018. All notes are issued at face value.

Fifty Yuan