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10 Yuan Bank of Pei Hai

Issuer Bank of Pei Hai (北海银行)
Year 1945
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Shape Rectangular
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Obverse description Red-orange letterpress print on plain paper. At left, a vignette of a farmer working in a paddy field, wearing a conical hat; the inscription 山東 (Shantung) appears at both left and right margins. The bank name 北海銀行 is printed across the top, with the large denomination characters 拾圓 (10 Yuan) occupying the right-centre panel within a guilloche rosette. Two red seal impressions appear at lower centre, and the date inscription 中華民國三十四年 is visible along the lower border.
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Reverse lettering BOXAI INXANG
SHANDUNG
10
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Comments

The Bank of Pei Hai was a regional Communist Party financial institution operating in the Shandong-Bohai border region, and by 1945 its notes were functioning as the primary medium of exchange in territory firmly under Eighth Route Army control. This 10 Yuan issue appeared in the final months of the Second Sino-Japanese War, when the CCP was rapidly consolidating economic infrastructure in anticipation of the civil war to follow.

Pick S3580 falls within a series known for inconsistent print quality — paper stocks varied considerably depending on what local facilities could source, and ink saturation differences across surviving examples are pronounced enough to mislead condition assessment.

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