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China 200 Yuan 38 (1949) Banknote - Genuine?

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Valued Member

Australia
136 Posts
 Posted 05/31/2026  04:20 am Show Profile   Check ClusterCoin's eBay Listings Bookmark this topic Add ClusterCoin to your friends list Get a Link to this Message Number of Subscribers
I brought home a small pack of Ceylon, Italian, Japanese and Chinese banknotes from an antique store and I think I've been very lucky to find a Chinese 200 Yuan 1949 banknote.

I think it's genuine, but as these are pretty valuable I would appreciate some feedback. It appears to have the right amount of wear, brown spotting and age, but these notes were reprinted too.

Thanks



China-200-Yuan-38-1949-Banknote---Genuine?
China-200-Yuan-38-1949-Banknote---Genuine?
China-200-Yuan-38-1949-Banknote---Genuine?
Pillar of the Community
augsburger's Avatar
Germany
1062 Posts
 Posted 05/31/2026  06:10 am  Show Profile   Bookmark this reply Add augsburger to your friends list Get a Link to this Reply
I live in China and have scepticism coming out of every pore with Chinese banknotes and coins.

How would you know with this note if it were genuine or not?

https://katzauction.com/lot/470846#470846-1

https://katzauction.com/lot/232593

The notes here seem to be more yellow in colour. Difficult to know if yours is like that or not.

The first number at the top on the right is out of place. The Roman numeral are wonky. Maybe how much you paid for it is an issue here. If you paid $200 then who knows? If you paid $20 then probably not.

But there's no watermarks, no security features at all on these notes and China is the faking capital of the world, and it can't be difficult to scan and print these things. I've seen Chinese dealers doing dodgy things with their banknotes.
Valued Member
Australia
136 Posts
 Posted 05/31/2026  07:30 am  Show Profile   Check ClusterCoin's eBay Listings Bookmark this reply Add ClusterCoin to your friends list Get a Link to this Reply
Thank you for your reply augsburger.

Yes, I too have seen many fake coins and banknotes that originated in China. I was once passed a 10 yuan banknote in Shanghai that looked excellent, but my taxi driver instantly knew it was fake. I guess they have to be experts at spotting them instantly, at least back when notes were still used over there.

You're right that my note looks different. The raised first number, wonky print. The numbers look thinner. The note is about the same brown shade as a Japanese yen banknote. One thing I can't find is a backlit photo of a genuine note to compare against mine. It's meant to have a star pattern, and there is a pattern on my note, but it's so worn that I don't know if it's the right one.

My note could be a contemporary counterfeit, or maybe printed later. The brown spotting on it is completely on point compared to many other notes I have seen from that era. If it's a contemporary counterfeit then I'm happy with that as well, as I collect coins and notes that were made in the era of issue.

The bag of notes where I found this 200 yuan note was very cheap, so if it's fake it's no problem. Being cheap doesn't automatically mean it's fake, as at the same shop I bought over $173 ASW silver coins for $15 by searching through a 'world coins' box. They had no idea what they had, so perhaps with this bag of notes that's the same case.
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