10 Cents

Frontier Bank — Bianye Yinhang in Mandarin — was established in 1915 with backing from Mongolian and Tibetan Affairs Commission funds, essentially a Beijing government instrument for managing currency in the northern border regions. By 1925 the political situation was deteriorating badly: the warlord-dominated Beiyang government was fragmenting, and Frontier Bank's notes were losing credibility in precisely the territories they were designed to stabilize.

Small-denomination fractional notes from this bank are considerably scarcer than the higher values — low-denomination paper in border regions circulated hard and was rarely preserved.