10 Yuan

The Hunan Provincial Bank was one of dozens of provincial institutions issuing their own currency during the warlord period, when central monetary authority in China had effectively collapsed. By 1928, Hunan had passed through the hands of multiple military factions within a few years, and the notes issued under provincial bank names frequently outlasted — or predated — whatever government nominally backed them.

P#S1953 is cataloged in the Shànghai section of Spink's Chinese references, though Hunan provincial issues of this period were often printed by lithographic firms in Shanghai regardless of the issuing authority's location. Distinguishing the actual printer requires examination of marginal imprints specific to the individual note.