First edition RMB series

💴 The First Series of Renminbi (RMB) was the first set of legal tender issued by the People's Bank of China on December 1, 1948, on the eve of the founding of the People's Republic of China. It comprised 12 denominations (1 Yuan to 50,000 Yuan) and 62 varieties, ceasing circulation on May 10, 1955. Due to wartime printing, short circulation period, and poor storage conditions, intact First Series RMB notes are extremely rare. A complete set (all 62 notes) is considered one of the "Four Great Treasures" in the collecting world, with international auction records consistently exceeding tens of millions of Hong Kong dollars.

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Major Banknotes and Market Prices of the First Series Renminbi (HKD Reference)

Banknote Rarity Recent Single Note Price (Mint Condition)
50,000 Yuan "Xinhua Gate" One of the Four Great Treasures HK$ 250,000 – 500,000+
50,000 Yuan "Harvester" One of the Four Great Treasures HK$ 280,000 – 550,000+
10,000 Yuan "Camel Team" One of the Four Great Treasures HK$ 200,000 – 400,000+
10,000 Yuan "Herding Horses" One of the Four Great Treasures (Most Rare) HK$ 600,000 – 1,500,000+
5,000 Yuan "Yurt" Rare HK$ 150,000 – 350,000
5,000 Yuan "Wei River Bridge" — HK$ 22,000 – 50,000
500 Yuan "Zhengyang Gate" / "Zhande City" Scarce HK$ 35,000 – 85,000
100 Yuan "Great Wall" / "Sailing Boat" — HK$ 8,500 – 25,000
20 Yuan "Threshing" / "Coal Cart" — HK$ 3,500 – 12,000
Complete Set of 62 First Series Notes Top Collection Item HK$ 5,000,000 – 12,000,000+

Key Valuation Points for the First Series Renminbi

  1. "Four Great Treasures": The 10,000 Yuan Herding Horses, 10,000 Yuan Camel Team, 50,000 Yuan Xinhua Gate, and 50,000 Yuan Harvester are the four rarest notes of the First Series Renminbi, with individual notes potentially reaching millions of Hong Kong dollars.
  2. Condition Grading: Using international PMG/PCGS grading, from 1 (severely damaged) to 70 (perfect). First Series Renminbi notes above 65 are extremely rare.
  3. Watermarks/Secret Marks: Most First Series Renminbi notes do not have watermarks. Some high-denomination notes have secret marks (e.g., "antenna," "textile"), which are crucial for verifying authenticity.
  4. Complete Set of 62 Notes: Almost all complete sets of 62 notes are now in museums or owned by top collectors, with very few in circulation on the market.

About Hong Kang Trading

The First Series Renminbi is a top-tier numismatic collection item. Face-to-face inspection and comparison with PMG/PCGS grading reports are essential. For more company background, business address, and physical store information, please see About Us.

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Quick Answer: How to Value These Items?

For First Series Renminbi (1948-1955) buyback, the Four Great Treasures—Herding Horses, Camel Team, Xinhua Gate, and Yurt—command the highest prices. A complete set of 62 notes is extremely valuable, with condition, serial numbers, and completeness being core valuation factors.

Variant & Prefix Variant, prefix, watermarks, and secret marks affect value.
Condition Grading Creases and stains need clear photos; grading scores (PMG) must be provided.
Completeness & Batches Complete sets, replacement notes, and uncut sheets are easier to value at once.

Related Entry: Buyback Coins and Banknotes, Buyback Second Series Renminbi, Professional Purchase of Third Series Renminbi.

Common FAQs

How valuable is the first series of RMB?

Extremely valuable. The first series of RMB was issued from 1948-1955, making it over seventy years old. Rare denominations such as the "Herding Horses" 10,000 Yuan and "Mongolian Yurt" 5,000 Yuan, if in good condition, can be worth hundreds of thousands or even over a million yuan per note.

How do you distinguish genuine first series RMB from fakes?

We inspect the paper quality and feel, watermark clarity, fineness of print lines, serial number font characteristics, and the naturalness of the overall color. The first series has unique ink texture and paper fiber characteristics from its printing process.

Does a first series RMB in less than ideal condition still have value?

Yes. Because the first series of RMB is extremely rare, even if the condition is poor (with creases, stains, slight damage), rare denominations still have considerable resale value.

How do I start selling my first series RMB?

WhatsApp 94530784 with clear photos of the front and back. When taking photos, make sure to capture the watermark, serial number, and the condition of all four corners. For rare items like these, we will arrange for a senior appraiser to handle them as a priority.

How are large transactions arranged?

For high-value banknote transactions, we arrange a secure handover environment. Upon confirmation, payment will be made via instant bank transfer or cash settlement on the spot, safeguarding the interests of both parties.

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