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10 Yuan Bank of Huai Nau

Issuer Bank of Huai Nau
Year 1944
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Value 10 Yuan
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Obverse lettering 淮南銀行
拾圓
中華民國三十三年印
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Reverse lettering BANK OF HUAI NAU
1944.7.
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Comments

The Bank of Huai Nau (淮南银行) was a Communist Party financial institution operating in the Huai-Nan base area, one of several guerrilla banking bodies established behind Japanese lines in central China. These notes circulated in contested territory where multiple currencies — Japanese military yen, puppet bank issues, and Nationalist money — competed simultaneously, often under threat of force.

The S-prefix Pick number reflects its classification as a local or regional issue rather than a central government note. Documentation on individual printings within this series remains fragmentary, and surviving examples are scarce given the wartime conditions under which they were both issued and destroyed.

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