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| 背面描述 | The upper portion bears the bank title in English within a solid panel. To the left, the denomination ONE CENT appears in letterpress within a scalloped guilloche cartouche. To the right, a large circular vignette reproduces a traditional Chinese spade coin with Chinese characters 壹分 at centre, enclosed by a Greek-key border. Two red official seal impressions appear at lower centre, with the printer's imprint below the outer border. |
| 背面铭文 | THE CENTRAL BANK OF CHINA ONE CENT UNION PRINTING Co., U.S.A. |
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The Central Bank of China placed several low-denomination orders with American printers during the late 1930s as Japanese advances disrupted domestic printing capacity. Union Printing Co. handled this particular run — a relatively obscure contractor compared to the American Bank Note Company, which held most of the prestige work for Chinese government issues of the period.
At one fen, this note's practical purchasing power was negligible even at issue, and most examples were discarded rather than returned through banking channels. Survivors are disproportionately uncirculated, pulled from original bundles rather than worn out in trade.