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10 Dollars

Issuer Kuok Kwong Company Ltd.
Year 1928
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Currency Dollar (1904-date)
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Obverse description The obverse is printed in brown tones on white paper, with the issuer's name 'KUOK KWONG COMPANY LTD.' in a central horizontal band. A central vignette depicts a landscape or architectural scene framed by ornate guilloche borders. Chinese characters reading '拾圓' (Ten Dollars) appear at both left and right margins, with the denomination '10 DOLLARS' repeated in the upper corners; a manuscript serial number appears near the top centre, and an adhesive revenue stamp is affixed at lower left.
Obverse lettering KUOK KWONG COMPANY LTD.
PROMISES TO PAY THE BEARER ON DEMAND AT ITS OFFICE HERE
TEN DOLLARS
OR THE EQUIVALENT IN THE CURRENCY OF THE PORT VALUE RECEIVED
拾圓
門澳 MACAU
10 DOLLARS
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Kuok Kwong Company Ltd. was one of several private commercial firms in Macau licensed to issue currency during the late colonial period, when the Portuguese administration tolerated a degree of parallel monetary circulation that would have been extraordinary in most other territories. These company-issued notes functioned as tradeable instruments within specific commercial networks rather than as general-purpose legal tender — acceptance depended entirely on the issuer's local reputation and credit standing.

Pick 107A is among the scarcer surviving examples from this class of Macau private issues. The 1928 date places it in a period of considerable monetary instability across southern China, which likely drove demand for any locally trusted instrument.