1949 China People’s Republic 20 Yuan PMG 66 EPQ Banknote Pick 821a Thick Paper

1949 China People’s Republic 20 Yuan PMG 66 EPQ Banknote Pick 821a Thick Paper

This 1949 China People’s Republic 20 Yuan banknote represents the formative moment of modern Chinese currency, issued during the establishment of the People’s Bank of China at the close of the Chinese Civil War. Cataloged as Pick #821a, this example is the thick paper variety, a subtype that is notably scarcer and actively sought by advanced collectors of early PRC issues.

The obverse design features a detailed railway and bridge industrial scene, symbolizing national reconstruction, industrial progress, and unification under the new government. Steam locomotives, factory buildings, and infrastructure imagery strongly reflect the ideological emphasis on labor and modernization that defined early Communist China. Traditional Chinese decorative borders frame the vignette, blending classical engraving with revolutionary themes.

Printed on thick paper, this issue differs from the more commonly encountered thin paper notes and is recognized as a premium variety within the series. The reverse displays an intricate ornamental layout with large “20” numerals and symmetrical guilloché patterns, showcasing the high-quality intaglio printing techniques employed during this transitional era.

Authenticity is assured by Paper Money Guaranty (PMG), one of the world’s most respected third-party grading services. The note is encapsulated with the Exceptional Paper Quality (EPQ) designation, confirming original paper integrity and preservation. It is further enhanced by provenance from The Peh Family Collection, adding historical and collector prestige.

Collector’s Value

Early People’s Republic of China banknotes are increasingly difficult to source, especially in certified EPQ examples and scarcer paper varieties. This 1949 20 Yuan thick paper issue offers strong appeal across multiple collecting categories—early PRC history, industrial-themed notes, and PMG-certified world currency—making it an excellent addition to both specialized and diversified collections.