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1 Jiao / 10 Cents Bank of China

Issuer Bank of China
Year 1925
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Size 93 × 52 mm
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Obverse description Central vignette within an oval guilloche frame presents a view of the Temple of the God of Literature at the New Summer Palace in Beijing, rendered in fine intaglio line work. The bank title 中國銀行 (Bank of China) appears in Chinese characters across the upper portion, with the denomination 壹角 (One Jiao) at the lower right and left corners. The entire design is enclosed within an ornate guilloche border with scalloped cartouches at each corner.
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Reverse description The upper half of the reverse is dominated by a large guilloche numeral '10' set within an intricate rosette underprint, with the legend 'BANK OF CHINA' arched across the top and a promise-to-pay clause in English below it. A central horizontal band carries the denomination inscription 'TEN CENTS' in bold letterpress. The lower panel accommodates two manuscript signatures with printed role titles (Governor and Manager), the serial number in red, and the place and date of issue 'SHANGHAI' and '1ST JULY, 1925' at the foot, all within a guilloche border with '10' numerals at each corner.
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Comments

The Bank of China's 1925 Jiao issues were printed by Waterlow & Sons at their London facility, a common arrangement for Chinese banking institutions of the Republican period that lacked domestic high-security printing infrastructure. Waterlow held concurrent contracts with multiple Chinese issuers during the 1920s, which occasionally raises questions about plate custody and print-run accountability — though no specific irregularity has been documented for this series.

The Bank of China itself was reorganized under direct government control in 1928, after which earlier issues like this one were gradually withdrawn. Notes surviving from pre-reorganization branches can carry differing overprints reflecting their place of payment.

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