1 Yuan

The Bank of Taiwan operated as the de facto central bank for the Republic of China government on Taiwan after 1949, issuing its own currency distinct from the mainland series. This 1 Yuan note belongs to the second postwar series, introduced after the catastrophic hyperinflation of the late 1940s had already destroyed public confidence in paper currency once — a fact that shaped how conservatively the new Taiwan Dollar was managed from the outset.

Pick 119 is among the smaller-denomination notes of the series and turns up in used condition far more often than in anything approaching uncirculated, consistent with heavy everyday handling throughout the 1950s.