A Gold Piece cast from the Taiwan Gold Saving Policy as of 1949-1950
Inscriptions:
成色9850 (Fineness: 9850/10000)
市兩0501(Market Tael: 0501/1000)
台銀(The Bank of Taiwan)
金瑞山(Jin Zuei Shan- Name of the gold shop)
驗(Inspected)
This gold ingot was cast by a major Taiwan gold shop 金瑞山 (Jin Zuei Shan) under
the consignment of the Bank of Taiwan for the purpose of repaying the deposits
for gold during May 17, 1949-December 27, 1950.
In order to curb inflation, the KMT government in Taiwan enacted the “Savings
for Gold" Policy in May 17, 1949. People were encouraged to deposit their
Taiwan dollars in the Bank of Taiwan, and one month after the deposit,
depositors shall be granted the options to be repaid their principals with
interests, either in cash, or in gold bullion based on a fixed and favorable
rate. Because the rate for exchanging gold was too favorable for the
depositors, as a result, tremendous of gold was out flown from the national
treasury and this policy was called off at December 27, 1950.
Those gold ingots cast for the repayments are in 3 weight forms, including 1,
2 and 5 maces. All of them are difficult to find now, and this piece is of the
latter one and the rarest among all.
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