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2 Chiao / 20 Cents 5th Administrative District Hopeh Border Area Cooperative Society

Issuer 5th Administrative District Hopeh Border Area Cooperative Society
Year 1939
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Value 2 Chiao (0.2)
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Obverse lettering 中央行政五區錢局 貳角 按面付國幣 抗戰建國 中華民國二十八年
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Reverse lettering 抗戰建國 20 中華民國二十八年
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Comments

The Hopeh (Hebei) Border Area was one of several Communist-administered regions operating behind Japanese lines after 1937, and the cooperative societies functioning within these zones issued their own scrip precisely because orthodox banking infrastructure had either collapsed or was controlled by occupying forces. This note is one of those hyper-local instruments — district-level, not even regional — which is why it carries no Pick number. Most such pieces were printed on whatever stock was available and circulated within a tightly bounded geographic area, never intended to travel far.

Survival rates for Border Area cooperative scrip from 1939 are extremely low. The combination of wartime destruction, poor paper quality, and the deliberate withdrawal of old scrip during successive currency consolidations meant that even heavily used examples rarely made it out of the decade.

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