1 Yuan Bank of Communications

The Bank of Communications was established in 1908 under the Qing dynasty to oversee railway and telegraph finances, making it one of the few Chinese banks with a genuinely industrial rather than purely fiscal mandate. By 1914, now operating under the early Republic, it was authorized alongside the Bank of China to issue national currency — a privilege that gave its notes unusual legitimacy during a period when provincial and private bank paper was routinely discounted or refused.

ABNC's engraving work on this series is among the finer examples of their Chinese commissions. The steel-plate printing quality tends to hold up well even on circulated examples, which is worth noting given how heavily the 1 Yuan denomination actually moved through commerce.