Question on face value

Actually these are printed by the other "Republic of China"... the one that was a puppet government under Japan. I am not sure what the Republic of China after the end of WWII did with these notes.. if they (under) re-valued these notes to their own currency or declared these as no value.

As for the actual RoC banknotes of WWII period, China suffered heavy hyperinflation which is another reason to Sap's response. In 1948 the government revalued the old fabi notes to the Gold Yuan. Hyperinflation still was out of control and by 1949, the government introduced the Silver Yuan. By Dec. of 1949, when the RoC fled to Taiwan, all banknotes were covereted into the Taiwan dollar, since the Silver Yuan also suffered to hyperinflation, which was printed by the Bank of Taiwan.

Like the Chinese yuans, the Central Reserve Bank of China (which printed your notes) also suffered hyperinflation.

Notes in Uncirculated condition are in more demand, even though many were printed...