North Korea's first banknote series, issued in 1947, predates the formal proclamation of the Democratic People's Republic of Korea by more than a year. The Central Bank had been established under Soviet occupation in late 1946, and this series was printed in the USSR — a fact not acknowledged in official North Korean accounts, which have consistently framed the notes as a product of domestic sovereignty.
The P#10A designation distinguishes this from the P#10B variant, which differs in paper stock or serial characteristics — collectors should verify watermark presence carefully, as the two are frequently conflated in older auction descriptions.
North Korea's first banknote series, issued in 1947, predates the formal proclamation of the Democratic People's Republic of Korea by more than a year. The Central Bank had been established under Soviet occupation in late 1946, and this series was printed in the USSR — a fact not acknowledged in official North Korean accounts, which have consistently framed the notes as a product of domestic sovereignty.
The P#10A designation distinguishes this from the P#10B variant, which differs in paper stock or serial characteristics — collectors should verify watermark presence carefully, as the two are frequently conflated in older auction descriptions.