Fifth series of the new Taiwan dollar banknote

The fifth series of the new Taiwan dollar banknotes is the current and latest series to be issued for circulation in the Republic of China (Taiwan). It was first introduced by the Central Bank of the Republic of China (Taiwan) on 3 July 2000.[1]

Background

For years the old Chinese Nationalist yuan was still the official national currency of the Republic of China. The Chinese Nationalist yuan was also known as the fiat currency (法幣) or the silver yuán (銀元), even though it was decoupled from the value of silver during World War II. Many older statutes in ROC law have fines and fees denominated in this currency.

Along with the introduction of this series of banknotes, the New Taiwan dollar became the official currency of the ROC and is no longer secondary to the silver yuan. For the first time, the Central Bank of the Republic of China began the issuing authority of the banknotes directly, rather than the Bank of Taiwan.[1] This series also ends a four-decade tradition of including Chiang Kai-shek in most of the banknotes of higher denominations except for the NT$200 issue,[2] opting for the more "modern" themes.

Two new denominations were issued in this series, the NT$200 and NT$2,000.[3] The NT$100 and NT$200 banknotes features national figures and buildings, while the other denominations present more general national themes and natural habitats in Taiwan. The groups of people depicted on themes of the NT$500 and NT$1,000 banknotes are real personalities taken by photographers.[4][5][6]

Security features

Several new security features have been incorporated into this series. Microprinting, windowed security threads, perfect registration devices and lithographic printing have been included.[3] The NT$2,000 was initially the only banknote to feature a holographic patch, being the highest denomination banknote in public circulation. This feature has since been extended to NT$500 and NT$1,000 banknotes, which now include a holographic strip.

Banknotes in general circulation

NT$100 banknote

The Chung-Shan Building is shown in the NT$100 banknote.

The obverse of the banknote features the first president of the ROC, Dr. Sun Yat-sen, with the verses of "The Chapter of Great Harmony" by Confucius in the background. The reverse shows the Chung-Shan Building. It was first issued on 2 July 2001 for general circulation.

NT$200 banknote

The Presidential Office Building in Taipei is shown in the NT$200 banknote.

The obverse of the banknote features the Generalissimo and Chairman of the Nationalist Government of the ROC Chiang Kai-shek, with his Land Reform Policy and Public Education in the background. The reverse shows the Presidential Office Building in Taipei.

The NT$200 banknote was first issued on 2 January 2002 for general circulation. De facto this banknote does not appear common to the public, possibly due to Chiang's unpopularity with DPP lawmakers at the time its introduction and the unfamiliarity with this new denomination.[7]

NT$500 banknote

Dabajian Mountain is depicted on the NT$500 banknote.

The obverse of the banknote features youth baseballers, known for their achievements as 17 times champion in the Little League World Series. The reverse of the banknote features the sika deer and Dabajian Mountain.

First introduced on 15 December 2000 for general circulation, the Central Bank of China relaunched the banknote with a holographic stripe and a darker color due to counterfeiting concerns and possible confusion with the NT$100 banknote. NT$500 banknotes without the holographic stripe have been recalled and withdrawn from use on 1 August 2007. As of 1 October 2007, only the Bank of Taiwan (now the Central Bank of the Republic of China) accepts such notes.[8]

NT$1,000 banknote

Jade Mountain is depicted on the NT$1000 banknote.

The obverse of the banknote features four children studying around a globe, symbolizing education. It is nicknamed 小朋友, "little children" (literally young friends) by the general public. The reverse of the banknote features the Mikado pheasant and Jade Mountain.

The erroneously labeled angle on the initial issue of the NT$1,000 banknote.

First introduced on 3 July 2000, the banknote was found to have contained several factual discrepancies that was subject to criticism. The globe that the children were surrounding appears to be a mirror image, possibly resulting from an invert error. The background shows a 45 degree angle labeled as 60 degrees.[9][10]

Accordingly, the Central Bank of China relaunched the banknote with a holographic strip with the two errors rectified and the globe now rotated to the 140th meridian east[10] on 20 July 2005. NT$1,000 banknotes without the holographic stripe have been recalled and withdrawn from use on 1 August 2007. As of 1 October 2007, only the Bank of Taiwan (now the Central Bank of the Republic of China) accepts such notes.[8]

NT$2,000 banknote

Nanhu Mountain is depicted on the NT$2000 banknote.

The obverse of the banknote depicts technological advances with the FORMOSAT-1. The reverse of the banknote features the Formosan landlocked salmon and Nanhu Mountain.

First introduced on 1 July 2002, de facto this banknote does not appear common to the public possibly due to its new denomination and fears of losses through receiving a large-value counterfeit banknote.

Specifications

1999 Series
Image	Value	Dimensions	Main Color	Description			Date of			Remark
				Obverse	Reverse	Watermark	printing	issue	withdrawal
	NT$100	145 × 70 mm	Red	Sun Yat-sen, "The Chapter of Great Harmony" by Confucius	Chung-Shan Building	Mei flower and numeral 100	2000 (Minguo 89)	2001-07-02
	NT$200	150 × 70 mm	Green	Chiang Kai-shek, theme of land reform and public education	Presidential Office Building	Orchid and numeral 200	2001 (Minguo year 90)	2002-01-02
	NT$500	155 × 70 mm	Brown	Youth baseball	Formosan sika deer and Dabajian Mountain	Bamboo and numeral 500	2000 (Minguo year 89)	2000-12-15	2007-08-01	without holographic strip
							2004 (Minguo 93)	2005-07-20		with holographic strip
	NT$1000	160 × 70 mm	Blue	Elementary Education (1999 errors[11][12])	Mikado pheasant and Yushan (Jade Mountain)	Chrysanthemum and numeral 1000	1999 (Minguo year 88)	2000-07-03	2007-08-01	without holographic strip
							2004 (Minguo year 93)	2005-07-20		with holographic strip
	NT$2000	165 × 70 mm	Purple	FORMOSAT-1, technology	Formosan landlocked salmon and Mount Nanhu	Pine and numeral 2000	2001 (Minguo year 90)	2002-07-01		with holographic strip

References

1. Bank notes get makeover with modern flair Archived 2008-04-07 at the Wayback Machine, Brian Cheng, Government Information Office, July 14, 2000
2. Taiwan ends currency tradition, BBC News, July 3, 2000
3. Notes From a Small Island Archived 2008-04-07 at the Wayback Machine, Virginia Sheng, Government Information Office, September 1, 2000
4. Pony-tail girl on banknote is now a university student, 楊惠琪, United Daily News, January 29, 2007
5. Moment of glory immortalized on the NT$500 banknote, 鄭光隆 and 羅紹平, United Daily News, 29 January 2007
6. Nan Wang Elementary Principal : Everytime I see the NT$1,000 banknote, I think of them, 羅紹平, United Daily News, January 29, 2007
7. Legislator pans new bank notes, Chuang Chi-ting, Taipei Times, February 17, 2001
8. 劉姿麟、蔣紀威 (2007-07-31). 8/1新制∕健保費漲價　金融機構舊鈔換新鈔延至9月底 (in Chinese). ETToday. Retrieved 2007-08-20.
9. Commons:Category:Taiwan $1000 banknote 1999 edition
10. １９９９年版台幣千元鈔地球儀印相反 Taiwan's 1999 $1000 bill globe reversed, Dan Jidanni Jacobson, retrieved April 14, 2013
11. Commons:Category:Taiwan $1000 banknote 1999 edition
12. Taiwan's 1999 $1000 bill globe reversed