10 Yuan

The Bank of Taiwan's postwar 10 Yuan notes occupied an awkward monetary moment. The bank had already issued a disastrous series of Taiwan Dollars beginning in 1946, which inflated catastrophically under the strain of mainland China's civil war and the Nationalist government's financial mismanagement — by 1949, the old Taiwan Dollar was exchanged at 40,000 to one New Taiwan Dollar in an emergency redenomination. This 1950 note belongs to the stabilization series that followed, printed domestically at the First Printing Factory rather than sourced from foreign security printers, a reflection of the KMT government's increasingly isolated position after retreating to the island.