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10 Cents / 1 Jiao Provincial Bank of Kweichow

Issuer Provincial Bank of Kweichow
Year 1949
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Shape Rectangular
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Obverse description Red on yellow and blue-green underprint, with red serial numbers and seals. The face carries the bank title and denomination inscriptions in Chinese characters against a patterned guilloche background.
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Reverse lettering THE PROVINCIAL BANK OF KWEICHOW 10 CENTS 10 CENTS 1949
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The Provincial Bank of Kweichow issued this 1 Jiao note in 1949, deep into the hyperinflationary collapse of Nationalist China's currency system. By this point, the fabi and gold yuan had both failed catastrophically, and provincial banks across southwest China were scrambling to fill the vacuum with their own fractional issues. Kweichow — one of the poorest and most isolated provinces — was among the last holdouts before the People's Liberation Army completed its sweep of the southwest in late 1949.

Notes from this bank at this date had an extraordinarily short useful life. The province fell to Communist forces in November 1949, rendering all Nationalist-affiliated provincial paper worthless within weeks of issue.

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