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10 Cents Provincial Bank of Chihli

Issuer Provincial Bank of Chihli
Year 15 (1926)
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Currency Yuan (1912-1948)
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Obverse lettering 直隸省銀行
壹角
中華民國十五年印
津 天
Reverse description Printed in deep purple-red on a light ground, the reverse is dominated by an elaborate guilloche underprint with large floral rosette motifs flanking the central denomination. The legend PROVINCIAL BANK OF CHIHLI is set in a banner across the top, while the large numeral 10 and the text TEN CENTS are boldly rendered in the centre. Circular counter medallions inscribed 10 CENTS appear at each corner, and additional 10 CENTS counters are set into the ornate scalloped border on either side.
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The Provincial Bank of Chihli was one of several provincially chartered Chinese banks operating in the warlord period, when central monetary authority had effectively collapsed and regional military governors controlled their own note-issuing institutions. This 10 Cent note dates to Republican Year 15, issued during the administration of a bank whose reliability was entirely contingent on the political fortunes of the Zhili clique — a clique that had already suffered decisive military defeat at the hands of the Fengtian and Nationalist forces by the time this note was printed.

Small-denomination fractional notes from this institution are disproportionately scarce, having circulated hard in local markets where larger denominations were impractical.

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