10 Cents Kwangtung Provincial Bank

Kwangtung Provincial Bank issued this 10 Cents note in 1949 as the Nationalist financial system was in free collapse. The Communist advance through southern China made provincial-level currency issuance increasingly desperate and short-lived — notes like this often circulated for weeks rather than months before becoming worthless. Kwangtung fell to the People's Liberation Army in October 1949, rendering the entire provincial banking apparatus defunct almost immediately after this denomination entered circulation.

The fractional cent denominations from this final period are frequently overlooked by collectors, which keeps prices low relative to their genuine scarcity.