1 Yuan - Provincial Bank of Honan

The Provincial Bank of Honan was one of dozens of Chinese provincial institutions issuing their own paper currency during the warlord period, when central monetary authority had effectively collapsed. Honan province changed military hands repeatedly through the early 1920s, and notes like this one were often rendered worthless — or redeemed at punishing discounts — each time control shifted.

Pick S1688 is catalogued under the Chinese provincial issues, a category notorious for attribution difficulties given how many banks shared similar names or issued near-identical series under successive administrations.