2 Yuan Farmer's Bank of Chung-Chou

The Farmer's Bank of Chung-Chou was a regional bank operating in Henan Province under Nationalist-controlled territory. By 1948, the Nationalist monetary system was in freefall — hyperinflation had made central government currency nearly worthless, and regional institutions were issuing their own notes partly to maintain any practical transaction medium at the local level. This note belongs to that desperate final phase, when the Communist forces were consolidating control of the north China plain and Henan was shifting hands.

The series is scarce in any condition, almost certainly a consequence of short circulation windows before the issuing authority collapsed entirely.