Second series of the renminbi

The second series of Renminbi banknotes was introduced since March 1, 1955. Together with the introduction of the second series, the decimal point was moved 4 places to the left. As a result, one first series ¥10,000 note is equivalent to one second series ¥1 note.

Coins

¥0.01, ¥0.02, and ¥0.05 (1955-present)

Though rarely used, coins of the 2nd series is still vaild in PRC, and PBC also put new coins to the market.

Banknotes

Each note has the words "People's Bank of China" as well as the denomination in the Uyghur, Tibetan, Mongol and Zhuang languages on the back, which has since appeared in each series of Renminbi notes.

The denominations available were (issued date-withdrawn date):
*First (1953) edition
**¥0.01(1/3/1955-1/7/2003),
**¥0.02(1/3/1955-1/7/2003),
**¥0.05(1/3/1955-1/7/2003),
**¥0.1(1/3/1955-15/12/1967),
**¥0.2(1/3/1955-15/11/1971),
**¥0.5(1/3/1955-?),
**¥1 red(1/3/1955-20/10/1969) ,
**¥2(1/3/1955-2/1976)
**¥3(1/3/1955-15/4/1964),
**¥5 dark red(1/3/1955-15/4/1964) and
**¥10(1/12/1957-15/4/1964).
*Second (1956) edition
**¥1 blue(25/3/1961-15/8/1973) and
**¥5 brown(20/4/1962-1/12/1983). People's Bank of China 2003-2004 currency year book, book 2, "Currency of the People's Republic of China", in Chinese. ISBN 7-207-05026-7]

The ¥3, ¥5(red) and ¥10 notes were printed in the Soviet Union. As a result of the Sino-Soviet split, the use of them was halted on 15/4/1964 to be withdrawn and these banknotes were recalled completely on the 15/5/1964.

Except for the ¥3, ¥5(red), ¥10, ¥0.01, ¥0.02, and ¥0.05 banknotes , all banknotes were recalled completely on the 1/1/1999. The use of the three ¥0.01, ¥0.02, and ¥0.05 banknotes was halted on 1/7/2003 to be withdrawn and these banknotes were recalled completely on the 1/4/2007.

References