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2 Cents
| Issuer | Peiping Municipal Bank |
|---|---|
| Year | 1937 |
| Type | Local banknote |
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|---|---|
| Obverse lettering | 北平市銀行 貳分 每壹角國幣兌拾分 中華民國二十六年 北部政府印刷所印刷 |
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| Reverse lettering | TWO CENTS NATIONAL CURRENCY 2 |
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| Comments |
The Peiping Municipal Bank was a short-lived local institution operating under the renamed city — Beijing had been formally redesignated Peiping ("Northern Peace") in 1928 by the Nationalist government, a deliberate demotion from its status as a capital. By 1937, Japanese forces seized the city following the Marco Polo Bridge Incident in July, effectively ending any legitimate municipal authority. Notes issued that year occupy an ambiguous moment: printed under one political order, circulated under another.
The 2-cent denomination is fractional small change, almost certainly printed to address a severe shortage of coin in local commerce — a persistent problem across northern China throughout the 1930s.