1 Chinese Yuan Banknote (1960)

The 1 Chinese Yuan banknote issued in 1960 forms part of the Third Series of Renminbi introduced by the People’s Bank of China during a period of major economic and agricultural development. These notes were widely circulated across China throughout the 1960s and 1970s before being withdrawn and replaced by later series with updated designs and security features.

This series is instantly recognisable for its strong socialist realism style, reflecting the political and cultural themes of the era. The 1960 one-yuan note is no longer in circulation and is now considered a withdrawn and legacy Chinese banknote, making it increasingly uncommon outside specialist collections and exchange services.

On the obverse, the banknote features a detailed illustration of a female tractor driver, symbolising agricultural progress, mechanisation, and the role of workers in building the nation. The denomination “1 Yuan” is displayed prominently alongside the national emblem of the People’s Republic of China, with multilingual text reflecting China’s ethnic diversity. The design is printed in rich red and brown tones, with intricate line work and ornamental borders typical of early Renminbi issues.

The reverse depicts a rural pastoral scene showing sheep grazing in the countryside, reinforcing themes of agriculture and collective labour. Decorative motifs frame the central image, and the issuing year “1960” is clearly printed. Compared to modern Renminbi notes, security features are minimal, which is one reason these older notes are no longer accepted by most banks.

Although this banknote retains historical significance, it is not accepted in everyday transactions and cannot be exchanged through standard banking channels. As a result, specialist services are required to assess, authenticate, and exchange these early Chinese currency issues.

• Indicate the quantity of 1 Chinese Yuan banknotes you want to exchange

• Click the ‘Add to your account’ button

• Your online account now shows the exchange value

We provide a secure UK-based service for exchanging withdrawn and historic Chinese banknotes, including early Renminbi series. Older Chinese notes are frequently declined by banks due to their age, withdrawal status, and authentication requirements, but we regularly handle these notes for individuals, charities, and organisations.

For higher-value or bulk exchanges, additional identification may be required to comply with Anti-Money Laundering Regulations (AMLR).