‘NUMISNET WORLD’

Formerly published as the 'Tasmanian Numismatist' - Internet Edition' (Est. 1996)


       Volume 23                                               Issue 6                                              June 2018


 

SNIPPETS, QUESTIONS & ANSWERS!

OLD STUFF...and NEW STUFF!

 

Compiled and Edited

by

Graeme Petterwood.

Even though the title implies that this publication is mainly about numismatic items that interest our international readers - I encourage discussions about  any closely associated hobby. This version of the 'Numisnet World' publication may also be linked to other forums for distribution - and it will be uploaded to the Internet whenever it is convenient.

PREVIOUS NEWSLETTER ARCHIVES:- http://www.vision.net.au/~pwood/aprilnews.html

 

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CHINA - Part 2.

 

The Black or Red overprint authorizations were on most of the ex-homeland notes used in China, but not on the notes produced by non-existent 'puppet banks' - which were another Japanese concoction that was aimed to provide funds - and to, ultimately, destroy the Chinese economy.

Controlled by the Japanese military forces, Chinese designers and printers were coerced to produce varying amounts of inflated value banknotes and fantasies purportedly issued from the (non-existent 'puppet' entities) Federal and Central Reserve Banks of China. These were printed in Peiping and Nanking, respectively.

Some notes were very similar to the authentic issues and were deliberately meant to deceive!

It is now known that some of these notes had hidden messages or symbols worked within the designs, by the Chinese forced labourers, in an effort to alert the general public.

 

1944 (1945) THE CENTRAL RESERVE BANK of CHINA

10,000 Yuan with Block Letters instead of serial numbers -(Pick #J38a)

 

These de-facto banknotes were also forced on the populace - often under threat of torture or death.

Issue quantity details were not known - nor were the printers identified.

In most instances, only block numbers were used and serial numbers were not printed on notes - and, as mentioned previously, they were printed in fairly high denominations - and in quantity.

 

In the Japanese occupied coastal areas of China, during the 1930's - mid 1940's, residue Japanese homeland notes were also found in circulation as well as those that had been deliberately overprinted and issued by the Military forces 'for Chinese use'. It is believed many of these homeland notes were brought to China by individual Japanese troops and, eventually, found their way into the public arena.

 

1938 Great Imperial Japanese Note - 50 Sen

Various Japanese homeland issues were found in use in China (Pick #58)

 

1940 Japan Military overprint - 50 Sen Military issue 

O/print for Chinese use (Pick #M14)

1938 Japan Military overprint - 5 & 10 Yen

Featuring - Sugawara Michizane and Waakeno Kiyomaro

O/prints for Chinese use (Pick #M25 & #M27)

 

N.D. (1945) Japan Military overprint 100 Yen.

Featuring - Shotoku-taishi

Printed in Hong Kong -  O/printed and various coloured varieties (Pick #M30)

 

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The whole Japanese experience with Chinese 'puppet banks' proved to be a learning curve, and these sorts of worthless paper notes were a fore-runner of the more dedicated, and far easier to produce and distribute, Japanese Invasion Money that was forced on populaces elsewhere in the Asia region during the advances of the Nippon forces in the early-mid1940's.

 

 GENERIC STYLE JAPANESE INVASION MONEY (JIM)

MALAYA (1942-45)

Malaya Denomination range 1, 5, 10, 50 Cents. One, 5, 10, 100 (2), 100 Dollars (Pick # M1 - M10)

BURMA (1942-44)

Burma Denomination range 1, 5, 10 Cents. 1/4, 1/2, 1, 5, 10, 100 Rupees (Pick #9 - #17)

 

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Up until this point, Chinese Communists - and a few other non-Government forces - had also been involved in a truce, and were involved along with the Republican (Kuomintang) Army in the fight against the Japanese - but the long-held ideological splits were obvious between the different Chinese groups and some of their capitalist civilian financial backers. - and the fragile truce was shattered soon after peace was attained. 

The battle for control of China was then resumed in deadly earnest.

 

Some extraordinary 'official' Central Bank of China paper issues also started to appear after the resumption of the Chinese Civil War - they were printed locally by commercial printers - in an effort to meet demand for some sort of currency in areas still under Chinese Republican Government control.

 

THE CENTRAL BANK of CHINA - CANTON

1949 ONE SILVER DOLLAR

Printer: Chung Hwa Book Co. Ltd (China) (Pick # 441)

These 'junk' coin issues - known as Yin Yuan - were for provincial use - e.g. Canton, Chungking.

 

By the late 1940's, the Chinese Nationalist Government Forces of Chiang Kai-shek, had gradually lost key areas of China to the Communist forces of Mao Tse-tung, - 'The People's Liberation Army' - and, in 1949, the Kuomintang (Nationalists) had been forced into a fighting withdrawal to their last stronghold on Taiwan, a large defensible island off the S.E. coast.

The relationship between the People's Republic of China and the Soviet Union had also cooled somewhat by this time - and China took its own road forward!

 

THE PEOPLE'S REPUBLIC of CHINA

1948 - 1990

 

During the chaos near war's end, the Communists had established, or controlled, over 50 provincial banks and were issuing currency under those auspices. Between the years 1948 - 1953, The People's Republic of China - reformed the banking system - and issued a variety of Yuan notes ranging from 1 - 50,000.

Unfortunately, I do not have a sample of any of these early notes in my accumulation, as China had become an financially isolated nation after defeat of the Nationalists and then its involvement in the Korean War.

 

In 1948, we know that the Yuan denomination range was 1, 5(2 issues), 10, 100(2 issues), 500, and 1000 Yuan - the number of slightly different designs in each of those notes are shown in brackets. The new People's currency was introduced to stabilize and rationalize the economy, and only authorized Chinese notes - including a Foreign Exchange note series - were allowed.

 

In 1950, the only denomination issued was 50,000 Yuan(2)

In 1951, a new series of 500, 1000, 5000(3) and 10,000 Yuan(2) was introduced.

In 1953, another new design 5000 Yuan was issued.

 

However, during the latter part of 1953, due to economic demand and the perceived need for currency reform, a second issue of low value notes was produced starting at One Fen, 2, 5 - then 1 Jiao, 2, 5 - then 1 Yuan, 2, 3, 5 and 10 Yuan. A few of these Fen notes are shown below with varying Block or Serial Number sequences, but, unfortunately, I have none of the Jiao or Yuan notes in this series at this time..

 

1953 PEOPLE'S REPUBLIC of CHINA

(top) - 2 Fen - (Two differing Block numbers)

(bottom) - 5 Fen - Generic style back as used on all Fen notes.

Also issued was One Fen - (not shown)

(Pick #861 & #862)

 

To explain the monetary system at that time, I have put it into simple equivalent terms.

One Fen = (1 Cent)

Two Fen = (2 Cents)

Five Fen = (5 Cents)

One Jiao (Chiao) = 10 Fen (10 Cents)

Two Jiao (Chiao) = 20 Fen (20 Cents)

Five Jiao (Chiao) = 50 Fen (50 Cents)

One Yuan,100 Fen or 10 Jiao (Chiao) = (One Dollar)

 

However, by 1956, the lowly Fen system had been superseded by inflation and was no longer being issued, and higher denominations were becoming the norm as the Chinese economy improved.

One Yuan and 5 Yuan were issued during this year.

 

In 1960, a new series of 1 Jiao, 1Yuan, 2, 5 Yuan notes were printed and distributed as the nation suffered some internal dissention. These new notes were propaganda-style issues - reinforcing the industriousness of the Chinese working-class - and the following series' (some of which are shown) - in the early to mid 1960's and into the 1970's - were also in a similar style, with several higher denominations included due to inflation.

 

 

1962 & 1972 One & Five Jiao notes

(1962) Notes issued also included 2 and 5 Jiao. (1972) The 5 Jiao was the only note issued

(Pick #887 & #880)

 

1965 10 Yuan

Only note issued this year. (Pick #879)

 

1980 issue 1, 2 and 5 Jiao & 5 & 10 Yuan notes

Notes issued also included 1, 2, 50, and 100 Yuan.

(This Yuan series incorporated 'dots' in the left or right bottom corners to assist the visually impaired)

(Pick #881,882 and 883 - #886 and 887)

 

1990 Yuan notes

This design - as well as the 2 Yuan denomination (not shown) - was originally issued in 1980 with Blue serial numbers - this series has Black Serial numbers.

(Pick #884b)

 

1979 BANK of CHINA - FOREIGN EXCHANGE CERTIFICATES (Pick #FX1, FX2, FX3)

Foreign Exchange Certificates were once the only form of currency that many foreigners were allowed to use. The Government, of the time, tried to prevent any internal public access to - and misuse of - foreign currency. Also issued were Yuan denominations 5, 10, 50 and 100 - (not shown).

In 1988, a short series of 50 and 100 Yuan were issued. These have all been discontinued.

 

 

'THE PARAMOUNT LEADER'  1999 - 1 Yuan

Mao Tse-tung - now known as - Mao Zedong (1893 - 1976)

(Pick #895)

 

LIKE MY ACCUMULATION ...

...CHINA IS STILL A WORK IN PROGRESS!

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'ONLY THE LONELY!'

PART 2.

The variety and denomination range of 'modern' banknotes over the last century or so, is enormous and to gather just one from each major note issuing nation - past & present - is a daunting task - but, when we consider the smaller countries, as well, it is a challenge well worth the effort - even if it is just for the educational value. As mentioned in the April issue, my lonely 'wall-flowers' - the one only items - are varied...but each has its place in my accumulation. One day, perhaps, it may acquire a companion.

Here are a few more for your perusal - this time from G - L.

The reason I have scanned, and am showing, these unsung beauties, is that, otherwise, they will be 'left on the pictorial shelf' once again!

 

(THE) GAMBIA - (1972 -86) 5 Dalasis (Pick #5d)

Featuring - President D.Kairaba Jawara

 

GERMAN DEMOCRATIC REPUBLIC (East Germany - Soviet Occupation)

- 1948 50 Deutsche Marks (Pick #14)

GUATEMALA - 1990 One Quetzal (Pick #73)

Featuring - General J. Orellana

 

HAITI - 1989 One Gourde (Pick #253)

Featuring - Toussaint L'Ouverture

HONDURAS - 1976 2 Lempiras (Pick #61)

Featuring - M.A. Soto

 

IRELAND - 1977 One Pound (Pick #70a)

Featuring - Queen Medb

JAMAICA - 1987 2 Dollars (Pick #69b)

Featuring - P. Bogle

 

KENYA - 1998 50 Shillings (Pick #33)

Featuring - President D.T.A. Moi

 

 

LATVIA - 1992 2 Rubli (Pick #36)

LEBANON - 1960 50 Piastres (Pick #43)

 

(Illustrations reduced and not to scale.)

 

MAIN REFERENCE

 'Standard Catalog of WORLD PAPER MONEY'

8th. Edition. Volume Two (General Issues) by Albert Pick

Colin R. Bruce II, Neil Shafer, Editors.

 

3rd. Edition. Volume Three (Modern Issues)

Colin R Bruce II, George S. Cuhaj, Editors.

 

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