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10 Yuan Bank of Pei Hai

Issuer Bank of Pei Hai
Year 1944
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Shape Rectangular
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Obverse lettering 北海銀行 拾圓 山東 中華民國三十三年
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Reverse lettering TEN YUAN 1944
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Comments

The Bank of Pei Hai (北海银行) was the currency authority of the Shandong-Jiangsu liberated zone under Communist Party control, and notes from this institution circulated in active guerrilla territory during the final years of the Second Sino-Japanese War. The 1944 issues were printed under genuinely difficult wartime conditions — decentralized production across multiple print shops meant that paper quality, ink consistency, and plate registration varied considerably within the same series. Collectors should expect meaningful variation between specimens even sharing the same Pick reference.

S-prefixed Pick numbers signal this as a regional issue, outside the central government banking structure entirely.

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