10 Cents

The Hua-Hsing Commercial Bank was a Japanese-sponsored institution established in central China in 1938 to facilitate currency control in occupied territories following the fall of Nanjing. Its notes were instruments of economic occupation, designed to displace Chinese Nationalist facheng currency and extract value from the local economy.

Small fractional denominations like this 10-cent piece circulated heavily at street level, where they displaced coins that had largely disappeared from trade. Heavy use means survivors in decent condition are less common than the higher denominations.