Taiwan Dollar Period

After the retrocession of Taiwan to the Republic of China, the Taiwan Provincial Governor’s Office took over the Bank of Taiwan Limited on May 20, 1946, and reorganized it into the Bank of Taiwan (BOT). On May 22 of the same year, the BOT issued the Taiwan dollar (now referred to as the Old Taiwan dollar). However, owing to the ensuing hyperinflation, on June 15, 1949, the Taiwan Provincial Government promulgated the “Regulations Governing the Issuance of the New Taiwan Dollar”, started a currency reform, and issued the New Taiwan dollar.

1-Taiwan Dollar Banknote
Version:1946
Date of Issuance:May 22, 1946
Place of Issuance:Taiwan
Series:Central Printing Works Series
Dimensions (mm):129X70
Style:Horizontal
Main Color:Blue/Blue
Image:Obverse - Portrait of Dr. Sun Yat-sen, headquarters of the Bank of Taiwan, and a map of Taiwan
Reverse - Naval battle
Description:The obverse shows a portrait of Dr. Sun Yat-sen, the headquarters of the Bank of Taiwan, and a map of Taiwan. The image in the middle of the reverse is a naval battle. The numerals and flowery patterns are printed in the overlapping letterpress. The background is offset printing. When the Taiwan dollar was first issued, it had only three denominations: 1 Taiwan dollar, 5 Taiwan dollars, and 10 Taiwan dollars.
500-Taiwan Dollar Banknote
Version:1946
Date of Issuance:May 17, 1948
Place of Issuance:Taiwan
Series:Central Printing Works Series
Dimensions (mm):159X84
Style:Horizontal
Main Color:Red/Orange and gray
Image:Obverse - Portrait of Dr. Sun Yat-sen, headquarters of the Bank of Taiwan, and a map of Taiwan
Reverse - Naval battle
Description:The obverse of the 100-Taiwan dollar, 500-Taiwan dollar, and 1,000-Taiwan dollar banknotes are all printed using the intaglio printing process. The reverse uses solid overlapping letterpress with background, which creates a magnificent four-color effect.
10,000-Taiwan Dollar Banknote
Version:1948
Date of Issuance:December 11, 1948
Place of Issuance:Taiwan
Series:First Printing Works Series
Dimensions (mm):162X87
Style:Horizontal
Main Color:Dark green/Blue and orange
Image:Obverse - Portrait of Dr. Sun Yat-sen, Bank of Taiwan headquarters, and a map of Taiwan
Reverse - Naval battle
Description:In 1948, in response to hyperinflation the 10,000-Taiwan dollar note, the highest-denomination banknote of the currency, was issued. The obverse of this note uses single-color intaglio printing. The spikes of rice and sugar cane are printed on the borders of the two shorter sides in dark green intaglio printing. On the reverse, a naval battle is depicted in the middle and printed using the overlapping letterpress process; the background was printed using the offset printing technique.
1,000,000-Taiwan Dollar Promissory Note
Version:1949
Place of Issuance:Taiwan
Series:First Printing Works Series
Dimensions (mm):164X67
Style:Vertical
Main Color:Brown/None
Image:Obverse - Bank of Taiwan headquarters and a map of Taiwan
Reverse - None
Description:After the Chinese Civil War in 1949, Taiwan lay in ruins and was also affected by hyperinflation in China. Therefore, the Taiwan dollar was issued in great quantities in a very short time. To meet market demand, in addition to Taiwan dollar notes, there were also promissory notes issued by the Bank of Taiwan. The promissory notes had four denominations: 5,000, 10,000, 100,000, and 1,000,000. They circulated together with banknotes.
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