1 Fen Fukien Provincial Bank

Fukien (Fujian) Provincial Bank operated under conditions of extreme administrative fragility during this period — the province was subject to repeated Japanese military pressure throughout the late 1930s and early 1940s, and provincial currency issuance was as much about maintaining governmental presence as it was about facilitating trade. Notes of this denomination were workhorse fractional currency, printed cheaply and circulated hard in a province where Japanese occupation forces were advancing in stages rather than all at once, leaving pockets of Nationalist-controlled territory dependent on local paper.

Survival rates for these small-denomination wartime provincials are low not because of rarity at issue but because nobody kept them.