PMG Online Gallery Showcases DC Chio Collection of First Series Renminbi

Posted on 11/13/2019

This fascinating group of nearly 300 specimens dated 1948 to 1953 helps shed light on the earliest years of the People's Republic of China.

Paper Money Guaranty® (PMG®) has created an online image gallery to showcase the 285 PMG-certified specimen notes in the amazing DC Chio Collection of First Series Renminbi (RMB).

The Renminbi was introduced in December 1948 by the nascent People's Bank of China in order to facilitate commerce in areas controlled by the Communist forces during the Chinese Civil War. Less than a year later, Mao Zedong proclaimed the People's Republic of China, which recently celebrated its 70th anniversary.

People's Republic of China 1949 100 Yuan Specimen, graded PMG 64 Choice Uncirculated
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People's Republic of China 1949 200 Yuan Specimen, graded PMG 63 Choice Uncirculated
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People's Republic of China 1949 1,000 Yuan Specimen, graded PMG 63 Choice Uncirculated
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The DC Chio Collection includes 53 specimens dated 1948 in denominations of 1, 5, 10, 20, 50, 100 and 1,000 Yuan. Another 208 specimens are dated 1949 in those same denominations as well as 200, 500, 5,000 and 10,000 Yuan. A specimen is an example of a fully completed note design, either already in circulation or that was intended for circulation.

Among the remaining notes are six specimens of the 1950 50,000 Yuan, the highest denomination of the First Series RMB. (At the time, China’s financial system was afflicted by rapid inflation.)

First Series RMB notes are treasured for their rarity, history and iconography. These notes have varying designs, even within the same denomination, and often feature scenes of agriculture and industry. The DC Chio Collection is particularly significant due to its impressive scope.

By 1955, the First Series was withdrawn and replaced by the Second Series. Today, the Renminbi is in its Fifth Series.

Renowned numismatist DC Chio plans to display selections from his amazing collection at the Macau, China Numismatic Society (MNS) Annual Expo, which is being held November 22-24, 2019, in Macau. Mr. Chio is president of the MNS and PMG is its Official Grading Service.

“I chose PMG to certify my collection because of its expertise, advanced holder and comprehensive guarantee,” says Mr. Chio. “I am also very pleased that PMG has created an online gallery to help other collectors appreciate and study these interesting notes.”

"PMG is honored to have certified this unparalleled collection of Chinese banknote specimens," said Mark Salzberg, PMG Chairman. "We are also proud to host an online gallery of the collection, which offers collectors and researchers special insight into the currency of this pivotal period in Chinese history."

Explore the PMG image gallery for the DC Chio Collection at

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