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10 Yuan
| Issuer | Federal Reserve Bank of China |
|---|---|
| Year | 1944 |
| Type | Log in to see details |
| Value | 10 Yuan |
| Currency | Log in to see details |
| Composition | Log in to see details |
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| Printer | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | 中國聯合準備銀行 拾圓 10 |
| Reverse description | Bicolour design in dark blue and orange-red, centred on a large circular guilloche medallion enclosing the numeral 10 over horizontal line underprint, with the legend 10 YUAN in Roman characters along the lower arc. The bank title 中國聯合準備銀行 arches across the top of the medallion in Chinese characters, surmounted by a small traditional cash-coin motif. Flanking the central medallion are two symmetrical vertical panels each bearing the denomination characters 拾圓 within ornate lace-work guilloche. The overall field is filled with an elaborate orange-red interlocking floral and geometric underprint, with floral rosette cornerpieces. A printer's imprint in small Chinese characters runs along the lower margin. |
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| Comments |
The Federal Reserve Bank of China was a Japanese-controlled puppet institution established in 1938 to manage currency in the occupied northern Chinese territories. Its notes circulated under Japanese military authority, displacing Nationalist fabi in the region by force rather than by any market preference. The Hua Pei Political Affairs Commission Printing Bureau — Hua Pei meaning "North China" — was itself a collaborationist administrative body, making this note unusual in that both the issuing bank and the printer were apparatus of the same occupation structure.
By 1944, the FRB's currency was suffering severe inflation as Japanese military expenditure in China accelerated. Notes from this late period circulated heavily and were often discarded or destroyed after liberation, which depresses surviving supply in better grades.