10 Yuan

The Chihli Province Gold Treasury (直隸省金庫) was a provincial fiscal institution, not a bank in any conventional sense — these notes were essentially treasury warrants backed by provincial gold reserves at a moment when central financial authority in China had effectively collapsed. By 1928, the Northern Expedition under Chiang Kai-shek was dismantling the old Beiyang power structure, and Chihli Province itself would be renamed Hebei within a year. This note belongs to that transitional instability.

The single official seal as the sole security feature reflects how thin the institutional infrastructure was — a deliberate economy, or simply an acknowledgment that the issuer's authority rested on political muscle, not printing sophistication.