10 Yuan

The Changsha Bank was a provincial institution operating out of Hunan, and by 1928 the political situation in China made foreign-printed notes a practical necessity — domestic printing infrastructure was fragmented and untrustworthy. The American Bank Note Company had been supplying Chinese provincial and republican issuers for decades, and this note is part of that long commercial relationship.

Hunan province changed hands repeatedly during the Northern Expedition of 1926–28, and notes from Changsha Bank saw circulation under genuinely unstable conditions. Surviving examples that show heavy use are the honest ones.