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| 背面描述 | Olive-green note with an ornate guilloche border frame. The English legend BANK OF SHANSI CHAHAR & HOPEI arches across the top, with the large numeral 10 and CENTS at centre. A vertical panel of Chinese characters appears to the left of the numeral. The inscription LOCAL CURRENCY and the date 1938 are set in a rectangular panel at the base. |
| 背面铭文 | BANK OF SHANSI CHAHAR & HOPEI 10 CENTS LOCAL CURRENCY 1938 国币 地方宾 |
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The Bank of Shansi, Chahar and Hopei was established in 1937 under Japanese occupation authorities to serve the Provisional Government of the Republic of China — a collaborationist administration installed in Peiping after the fall of the city. Its notes were designed to displace Nationalist fiat currency and French Indochinese piastres in the occupied northern provinces, with small denominations like this chiao doing the practical work of daily market transactions.
The 1938 dating places this note in the bank's first full year of operation, before the currency had fully suppressed its competitors in local circulation.