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1 Fen / Cent
| Issuer | Bank of Taiwan |
|---|---|
| Year | 1949 |
| Type | Log in to see details |
| Value | Log in to see details |
| Currency | Log in to see details |
| Composition | Log in to see details |
| Size | Log in to see details |
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| Printer | Central Engraving and Printing Factory, Taipei |
| Designer(s) | Log in to see details |
| Engraver(s) | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | 行銀灣台 分壹 角壹兌分拾每 印年八卅國民華中 厰北台厰製印央中 (Translation: Taiwan Bank 1 Fen 10 Fen = 1 Jiao Printed in the thirty-eighth year of the Chinese Republic Central Engraving and Printing, Taipei) |
| Reverse description | Log in to see details |
| Reverse lettering | BANK OF TAIWAN 1 ONE CENT 1949 |
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| Comments |
The Bank of Taiwan's 1949 fen notes were issued in the immediate aftermath of the New Taiwan Dollar reform of June that year — the currency replacement that lopped four zeros off the collapsing Old Taiwan Dollar at a rate of 40,000 to 1. These tiny-denomination notes were a practical necessity: the new dollar needed fractional coinage, but metal was scarce and minting capacity limited, so paper filled the gap.
The Central Engraving and Printing Factory had only recently relocated to Taipei as Nationalist forces lost the mainland. Production circumstances were accordingly rough.